UK's Barocal Wins US$1 Mln At TERA-Award For Solid-State Cooling Innovation
KUALA LUMPUR, July 22 (Bernama) -- British company Barocal has clinched the Gold Award and a US$1 million prize at the fourth edition of the TERA-Award, an Asia-based smart energy innovation competition empowered by Full Vision Capital. (US$1=RM4.22)
Organised by The Hong Kong and China Gas Company Limited, the event, held for the first time outside Hong Kong, took place on July 18 at King's College, University of Cambridge, and was attended by over 100 industry leaders, entrepreneurs, scientists, investors and scholars.
Barocal's breakthrough solid-state cooling system utilises barocaloric materials that change temperature under pressure, eliminating the need for harmful refrigerants while enhancing energy efficiency.
The technology, developed over a decade of research at the University of Cambridge, is said to offer up to three times the energy efficiency of conventional cooling systems, according to the organiser in a statement.
Full Vision Capital Principal and TERA-Award Founder, Dr Peter Lee said hosting the event overseas marked a major step in building an international platform for energy innovators.
'We are fostering a growing network of innovators, investors and partners. With targeted support and incubation, we have seen great progress from past winners and look forward to more success stories,' he said.
This year's competition attracted 785 entries from 76 countries and regions. Winners hailed from Australia, China, the United Kingdom (UK), the United States, Singapore and Spain, reflecting the TERA-Award's expanding global reach.
An innovation showcase and forum were held alongside the ceremony, featuring discussions on global clean energy trends and the importance of collaboration in the energy transition.
The fourth edition of the TERA-Award received support from the Hong Kong Investment Corporation, InvestHK, the UK Department for Business and Trade, and Kerogen CelerateX, underlining joint efforts to accelerate the commercialisation of zero-carbon solutions.
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