Business
Hong Kong’s Hydrogen Future: InnoTech Forum Highlights Need for Greater Government Support and Streamlined Approvals
InnoTech Forum: Greater efforts required from Hong Kong authorities to promote hydrogen energy
Speakers at the InvestHK forum suggested that the government should simplify the approval process for new projects and provide additional financial aid.
Top-level managers from various sectors of Hong Kong's energy supply chain are urging for increased backing to speed up the growth of the city's hydrogen ecosystem.
Industry leaders at the InnoTech Forum, hosted by InvestHK – the government entity responsible for encouraging foreign investment in the city – suggested on Friday that the government could expedite the investment process and decrease expenses by simplifying approval processes, endorsing more experimental initiatives, and providing increased financial assistance.
Norman Cheng, the Business Development Director at Veolia Hong Kong, expressed that if the government could establish a set of rules and standards for future hydrogen projects in Hong Kong, it would simplify the process for companies interested in investing in this industry. He also suggested that having a clear trajectory for the development of hydrogen would further boost investor confidence.
Veolia, an international corporation dealing with water, waste, and energy management, has teamed up with Hong Kong and China Gas (Towngas), a gas distribution company, to initiate the first eco-friendly hydrogen venture in Hong Kong. Situated at the South East New Territories Landfill Extension in Tseung Kwan O, the project aims to convert landfill gas into hydrogen for energy purposes, thus preventing the release of a highly damaging greenhouse gas.
The sluggish authorization procedure is a significant hurdle for firms looking to implement hydrogen demonstration projects in Hong Kong, according to Shao Ruizhe, the assistant president of China State Construction Engineering (Hong Kong).
He expressed his optimism that as hydrogen energy technology advances, the approval process could be expedited. He also mentioned that it took roughly a year to get approval for a project their company is working on.
His business has collaborated with Hong Kong Nation-Synergy International Hydrogen Power Technology and Sinopec (Hong Kong) on an experimental initiative. The goal is to produce electric power using hydrogen and distribute it to a construction site office located at the Hong Kong-Shenzhen Innovation and Technology Park in Lok Ma Chau.
Discover more from Automobilnews News - The first AI News Portal world wide
Subscribe to get the latest posts sent to your email.