‘Superman’ investor Li Ka-shing turns green as the former oil company magnate embraces sustainable investing. Here’s why

Name: Two sessions: How China's environmental policies are giving a boost to green industries
Uploaded: 2021-04-06T12:05:51.000Z
Duration: 3 min 26 s
Description: Two sessions: How China's environmental policies are giving a boost to green industries

Hong Kong’s best known tycoon is diverting his money towards sustainability projects, the latest being a hydrogen fuel start-up

He was reportedly inspired to do more for the environment after an incident involving his granddaughter

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Li Ka-shing is focusing on hydrogen fuel as a low-carbon energy source. Photo: Shutterstock Images

Peggy Sito

Published: 8:05pm, 6 Apr 2021Updated: 10:03pm, 6 Apr 2021

Hong Kong’s wealthiest man, Li Ka-shing, once the majority shareholder of a Canadian oil company, has been steering his investments towards climate change and sustainability.

His particular focus of late has been the development of environmentally friendly hydrogen-electric engines.

Through its private investment arm, Li’s Horizons Ventures led a US$23 million round of Series B financing in Houston-based Syzygy Plasmonics, a start-up that has developed a hydrogen fuel-cell technology that produces cheap energy with low carbon emissions. Other investors include Norway’s state controlled Equinor Ventures.

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Two sessions: How China's environmental policies are giving a boost to green industries

“Climate challenges can only be met with cost-effective tech options that enable every one to make a personal commitment to stave off its far reaching consequences,” said Solina Chau Hoi-shuen, a prominent businesswoman and close friend of Li. She co-founded Horizons Ventures in 2002 to generate financial returns for Li’s philanthropic endeavour, the Li Ka Shing Foundation.

“Act now, or regret is forever. Horizons has been supporting mission-driven founders to improve the world with catalytic solutions. Hydrogen is part of our wide-ranging sustainability cluster,” said Chau.

Underpinned by a global shift among regulators, investors and consumers toward decarbonisation, hydrogen is receiving unprecedented interest and investment, according to a February report called Hydrogen Insights released by McKinsey & Company and the Hydrogen Council, an industry group with more than 100 members globally .

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“At the beginning of 2021, over 30 countries released hydrogen roadmaps, the industry has announced more than 200 hydrogen projects and ambitious investment plans, and governments worldwide have committed more than US$70 billion in public funding,” said the report.