Latest news with #Towngas
South China Morning Post
27-04-2025
- Business
- South China Morning Post
Vigil for Hong Kong's Lee Shau-kee: political heavyweights, residents pay respects
Political heavyweights, real estate executives and residents have gathered to pay tribute to late Hong Kong tycoon Lee Shau-kee, as they recalled the philanthropist's generosity and accomplishments. Advertisement The vigil being held on Sunday afternoon was organised by Henderson Land Development, the conglomerate Lee founded in 1976. A funeral will take place on Monday. Among those seen attending the Sunday service were: eldest son Peter Lee Ka-kit; younger son Martin Lee Ka-shing and his wife, Cathy Tsui Chi-kei; late tycoon Stanley Ho's fourth wife, Angela Leong On-kei; nightlife tycoon Allan Zeman; Bank of East Asia executive chairman David Li Kwok-po; former chief executive Donald Tsang Yam-kuen; various Hong Kong ministers; and former chief secretary Henry Tang Ying-yen and his wife. 'Thank you for your hard work over the past two days,' both sons told the media at the vigil. Hongkonger Alex Ip, 69, said he attended the service as he was 'curious about the occasion' and knew of 'Henderson's contribution to Hong Kong with Towngas, which it controlled, and real estate, and so on'. Advertisement Funeral preparations have been overseen by a committee of 74 officials, including former chief executives Tung Chee-hwa and Leung Chun-ying, current city leader John Lee Ka-chiu, and Zheng Yanxiong, director of the central government's liaison office in Hong Kong.
Yahoo
25-04-2025
- Business
- Yahoo
Global surge in energy innovation as TERA-Award draws record-breaking 785 entries
Alan Chan, Executive Chairman of the TERA-Award Organising Committee HONG KONG, April 25, 2025 (GLOBE NEWSWIRE) -- In a testament to the accelerating global push for climate tech solutions, this year's TERA-Award has drawn innovators from around the world, shattering previous participation records. The smart energy competition closed applications in early April with 785 submissions from 76 countries and regions—the highest in its four-year history. Behind the impressive statistics lies a tapestry of innovation across six categories, with Renewable Energy leading the pack. Competitors have submitted ideas across green fuels, hydrogen technology, smart energy systems, and sustainable infrastructure—all aimed at addressing the world's most pressing energy challenges. 'What we're seeing is a remarkable global convergence around energy innovation,' says Alan Chan, Executive Chairman of the TERA-Award Organising Committee. 'This surge in participation confirms that the TERA-Award has become a global platform for identifying and nurturing tomorrow's energy solutions.' The competition's international reach has expanded significantly. The US contributed 12.5% of entries, whilst the UK and India followed with 6.2% and 8.7% respectively. Applications from the Chinese mainland (18.1%) and Hong Kong (5.5%) remained strong, but the growing participation from Europe, the Middle East, and the Americas signals the global nature of the energy innovation ecosystem. Beyond its US$1 million grand prize, the TERA-Award has a proven track record of transforming ideas into commercial reality. Previous participant i2Cool recently closed its Series A funding with support from competition organiser Towngas. Its electricity-free cooling coatings are now deployed internationally, demonstrating the TERA-Award's impact beyond mere recognition. Similarly, Luquos Energy used Towngas's backing after participating in the competition to scale up its sulphur-based flow battery system, with a demonstration project now running in Shenzhen. These examples illustrate how the TERA-Award accelerates their solutions from lab to market. Attention now shifts to the judging phase led by Professor Cui Yi, a world-renowned materials scientist from Stanford University. The expert panel will evaluate the submissions on technological innovation, commercial viability, scalability, and potential global impact. Winners will be announced in July 2025, but for many participants, the real prize extends beyond the monetary award. The TERA-Award, empowered by Full Vision Capital, offers top teams access to industry leaders, potential investors, and strategic partners—resources often more valuable than the funding alone. For enquiries, please contact:The Hong Kong and China Gas Company Limited (Towngas) Tel: +852 2963 3493 Email: cad@ A photo accompanying this announcement is available at in to access your portfolio
South China Morning Post
06-04-2025
- Business
- South China Morning Post
Hong Kong gas usage remains below pre-pandemic level for sixth straight year
Gas consumption in Hong Kong stayed below the pre-pandemic level for a sixth straight year in 2024, with the supplier expecting the pattern to persist due to what economists said was a 'structural decline' in usage linked to lifestyle changes, including increased travel to mainland China. Advertisement The city's sole gas supplier, the Hong Kong and China Gas Company, better known as Towngas, also linked its forecast to the warm weather expected this year. Professor Lee Shu-kam, the head of Shue Yan University's department of economics and finance, pointed to 'a structural decline in sales' of gas in the city. 'A very important factor is the poor economy. When there are fewer tourists, shops will use less [gas],' Lee said. 'What's more important is that after the pandemic, many people have shifted to consuming more on the mainland.' For instance, those aged 60 or above can travel by rail free of charge in Shenzhen by presenting their Home Return Permits, passports or other identity documents issued by the local government, according to a website of the Constitutional and Mainland Affairs Bureau. Advertisement The waived transport fares were 'very attractive' Lee said. 'But when you are up there, you definitely need to have meals.'
Associated Press
01-04-2025
- Business
- Associated Press
Record-breaking Global Participation: Final Call to Join the TERA-Award by 9 April
HONG KONG SAR - Media OutReach Newswire – 1 April 2025 - The 4th TERA-Award Smart Energy Innovation Competition, organised by The Hong Kong and China Gas Company Limited (Towngas) and empowered by Full Vision Capital, already attracted participation from a record-breaking 62 countries and regions, surpassing the 59 countries and regions in previous editions. With the 9 April 2025 deadline fast approaching, global teams are encouraged to submit their innovative projects in renewable energy, energy storage and conversion, CCUS technologies, green fuels and hydrogen energy, intelligent energy systems, and smart city. This year's competition has already seen 417 applications, highlighting the growing global momentum in energy innovation. Among them, renewable energy leads with 112 submissions, followed by smart city solutions and intelligent energy systems, showcasing the industry's global focus on sustainable infrastructure and next-generation energy management. Mr Alan Chan Ying-lung, Executive Chairman of the TERA-Award Organising Committee, noted that the surge in participation reinforces the TERA-Award's role as a truly global platform for energy solutions. He emphasised that the competition continues to attract innovators from around the world, demonstrating a universal commitment to tackling energy and climate challenges. By bringing together startups, investors, and industry leaders, the TERA-Award acts as a catalyst for breakthrough innovations, helping to accelerate the energy transition through real-world applications. Chan also highlighted the competition's track record of helping startups scale their technologies through funding and strategic industry partnerships. He pointed to past winners such as i2Cool, which has expanded the application of its electricity-free cooling coatings across global projects, and Luquos Energy, which, after securing investment from Towngas, launched a sulfur-based flow battery energy storage demonstration project in Shenzhen, marking an important step toward industrialisation. Beyond the competition, Towngas and Full Vision Capital have long been committed to startup incubation, backing companies that have since grown into major industry players. EcoCeres, for instance, has become a global leader in Sustainable Aviation Fuel, while EnerVenue, founded by Stanford Professor Cui Yi, is pioneering metal-hydrogen battery energy storage solutions and was recently named one of America's Top GreenTech Companies by TIME Magazine and Statista, soaring from #136 to #10 in just one year. These successes underscore the strength of the TERA-Award ecosystem, which provides not only financial support but also mentorship, industry connections, and the resources needed to accelerate commercial deployment. As the competition enters its final stretch, startups and innovators worldwide are encouraged to seize this opportunity to gain industry recognition, secure strategic partnerships, and turn their groundbreaking ideas into reality. Applications can be submitted through the TERA-Award's official website. The issuer is solely responsible for the content of this announcement. About the TERA-Award Energy Innovation Competition The TERA-Award Energy Innovation Competition, organised by Towngas and empowered by Full Vision Capital, aims to discover and develop innovative technologies and solutions in climate technology. It promotes zero-carbon technology development by bringing together global innovative technological forces to advance climate technology innovation and application. The competition serves as an international acceleration platform, matching climate technology entrepreneurs with investors and application scenario providers to help early-stage climate technology companies grow rapidly and drive the realisation of a green, smart, and sustainable future.
South China Morning Post
19-03-2025
- Business
- South China Morning Post
Towngas says tourism rebound, incoming mainland talent will drive sales in 2025
Hong Kong and China Gas (Towngas) said a tourism rebound and incoming talent from the mainland would drive sales this year, as the city's sole gas provider seeks new opportunities for growth. Advertisement On Wednesday, the company said its full-year net income fell 8 per cent to HK$5.7 billion (US$733.6 million) from HK$6.1 billion a year earlier. Analysts polled by Bloomberg expected a profit of HK$6.2 billion. The company said its core operating profit increased 5 per cent to HK$5.9 billion. Revenue for the year fell 2.6 per cent to HK$55.5 billion; analysts expected HK$57.7 billion. 'Looking ahead to the new year, we expect gas sales in Hong Kong to maintain steady growth as the city's tourism industry rebounds, and as initiatives such as the Top Talent Pass Scheme bring in tens of thousands of people,' said co-chairmen Peter Lee Ka-kit and Martin Lee Ka-shing in a statement. Towngas' overall gas sales volume in Hong Kong increased 0.1 per cent last year after a decline in 2023 due to above-average temperatures and residents spending more time out of the city. Advertisement Gas sales in 2024 were affected by record temperatures and more residents travelling to the mainland, the company said. On an earnings call, managing director Peter Wong Wai-yee said the increase in gas sales was attributable to a recovery in the hospitality and aviation industries.
