Opening of GreenTech Hub aims to power Hong Kong’s green future
Supported by government-industry-academia partnerships, GreenTech Hub is at the forefront of new technologies that help get start-ups off the ground
Hong Kong is positioning itself as the ideal place for climate and clean energy technology companies to locate and grow, steered by the government’s strategy to transform the city into a global green tech and finance hub.
In his budget speech last month, Financial Secretary Paul Chan reiterated funding and subsidies for the development of green finance and technology, noting that the number of start-ups in these sectors increased 82 per cent last year compared to 2023.
He also reaffirmed the sustainability mission of Hong Kong Science and Technology Parks Corporation (HKSTP), drawing attention to the official launch of the GreenTech Hub located at InnoCentre in Kowloon Tong earlier this month. The facility will support start-ups and innovators developing green technologies and aims to strengthen Hong Kong’s green sector by offering collaboration and scalable solutions for growth.
Currently, more than 200 of Hong Kong’s green tech companies operate within HKSTP’s ecosystem. Many of these innovative firms have accelerated their growth through GreenTech Hub’s ecosystem, which offers incubation programmes, funding and capital platforms, mentorship and collaborative business opportunities.
One Energy, which specialises in environmentally friendly transportation solutions, is among the firms headquartered at GreenTech Hub. Founded by CEO Kevin To, One Energy offers innovative solutions such as battery swapping systems for e-motorcycles to help reduce emissions. In Hong Kong, One Energy has set up 10 battery re-charging “swapping stations” where riders can recharge their e-motorcycles.
To said that since many leading automakers around the world prioritise electric vehicles, there is a niche market for e-motorcycles. Hong Kong has more than 75,000 registered motorcycles, of which less than 10 per cent are electric, according to government figures. With the city targeting carbon neutrality by 2050, To believes electric motorcycles could play a key role in reducing traffic emissions.
Hong Kong’s ambition to become an international green tech and green finance hub aligns with One Energy’s strategic goals. The company was able to access supply chains and research opportunities in Shenzhen, and utilise cost-effective manufacturing facilities in Thailand. In Hong Kong, One Energy plans to add 100 more battery re-charging stations by the end of the year. The company also plans to expand its presence in Indonesia, where only a small portion of the estimated 148 million motorcycles are electric. Further afield, with growing concern for environmental conservation in Germany, France and Ghana in West Africa, One Energy has scaled production to meet the growing demand for its products.
The GreenTech Hub’s vibrant tech scene and start-up culture make it a magnet for innovative tech enterprises. Azure Era Energy Saving Technology is another rapidly growing firm that has established its regional headquarters at the hub. The company, founded by a team of experts from Hong Kong and mainland China, specialises in radiative cooling. This innovative technology can lower indoor temperatures by up to 15 degrees Celsius by reflecting solar radiation. The company benefits from the hub’s support, including facilities for research and development, a testing area for pioneering technologies and better access to markets across Asia.
Azure Era’s managing director, Rick Li, emphasises GreenTech Hub’s role in fostering business development for green technology enterprises. “Being part of GreenTech Hub significantly enhances our business expansion efforts. Our radiative cooling optical film effectively reflects ultraviolet radiation heat, substantially reducing indoor temperature,” he says. “The application scope is extensive — Hong Kong’s numerous glass curtain wall buildings can benefit from our easy-to-use film. It provides a practical solution for businesses and enterprises to enhance energy efficiency and optimise indoor climate control.”
The GreenTech Hub has also welcomed Luquos Energy, a graduate of HKSTP’s incubation programme. The company is developing sustainable battery storage solutions to support the use of renewable energies and electric vehicle chargers.
“Our battery system stores energy using a sulphur-based liquid solution, which is naturally non-flammable and costs less than half the price of lithium-ion batteries,” says Luquos Energy CEO Simon Wang, adding that the battery system comes in different sizes, from small units to large container-sized systems, with a single 20-foot unit able to provide enough electricity to fully charge four to six electric vehicles.
To further encourage Hong Kong’s eco-friendly potential, GreenTech Hub has built a community of like-minded financial, academic and business institutions. “The hub’s extensive network supports the training and development of talent, facilities to innovate, test and apply new technologies, as well as opportunities to connect with investors and accelerate the transformation of research and development projects into market-ready solutions,” says Howard Lee, associate director, GreenTech at HKSTP.
GreenTech Hub serves as a collaborative space for innovators, cultivating the exchange of ideas and transformative solutions, as well as business partnerships. By bringing key green tech industries under one roof and supporting them in their development, it aims to strengthen Hong Kong’s green sector through collaboration and scalable solutions and position the city as a global hub for green tech and green finance.