Accelerating Hong Kong’s development as an International Green Technology and Financial Centre Development and its low-carbon transition
(Hong Kong, 22 December 2023) - Hong Kong Science and Technology Parks Corporation (HKSTP) sent its first-ever delegation to the UN Climate Change Conference COP28 in Dubai, providing an ideal world stage for seven participating Park companies to showcase their green innovations to the Middle East market and success as climate champions for Hong Kong.
The exhibitions by Archireef, Halo Energy, i2Cool, InnoBlock, M Concept, Neuron Operation, and Synap Tehnologies (in alphabetical order) at COP28 earned major acclaim from industry players, governments and the public, and enhanced their connection to the global market, particularly, the Middle East. Remarkable business and investment leads were generated, and some even identified and fostered climate partnerships with influential global partners.
Ir Dr HL Yiu, Chief Corporate Development Officer of HKSTP, said, “COP28 has provided huge opportunities for HKSTP and our Park companies to tap into global sustainability trends and the latest climate agendas. The strong presence of our Park companies at COP28 is a testament to Hong Kong’s huge green tech and green finance potential, while our fruitful engagements with the UAE leaders and organisations have laid a foundation for our Park companies’ expansion to the Belt and Road market.”
During the COP28 trip, HKSTP met with a stellar cast of leaders from the private and public sectors to explore Belt and Road cooperation for driving low-carbon transition, accelerating Hong Kong’s development into an international green technology and financial centre, as well as deepening the innovation and technology (I&T) collaboration between Hong Kong and the Middle East. These included the Ajman Chamber of Commerce; Ministry of Economy United Arab Emirates; Sharjah Research, Technology and Innovation Park (SRTIP); and Abu Dhabi-based accelerator Catalyst. Park companies also presented their green solutions to these Middle East representatives during the meetings.
Photo 1: The HKSTP delegation, led by Ir Dr HL Yiu, Chief Corporate Development Officer of HKSTP (middle), visited the exhibition booths of Park companies at COP28.
Photos 2-5: HKSTP’s in-depth dialogues with public and private organisations in the UAE, including the Sharjah Research Technology and Innovation Park (Photo 4) and Abu Dhabi-based accelerator Catalyst (Photo 5), have laid the foundation for future collaboration between Hong Kong and the Middle East.
Photo 6: Archireef, a nature tech company and HKSTP’s Elevator Pitch Competition (EPiC) 2021 winner, signed an MoU with First Abu Dhabi Bank (FAB), one of the largest banks in the Middle East North Africa (MENA) region. This collaboration aims to rejuvenate the deteriorating coral reefs in the UAE’s Arabian Gulf using Archireef’s patented technology involving 3D-printed terracotta clay tiles.
Photo 7: i2Cool, a non-electric refrigeration technology provider, hosted a roof top tour for Mr Tse Chin-wan, Secretary for Environment and Ecology (SEE), Ms Salina Yan, Permanent Secretary for Financial Services and the Treasury (Financial Services), and Emaar (the second largest developer in the world) at its iPaint proof of concept (POC) project at Dubai Mall. iPaint is a revolutionary electricity-free cooling material designed to combat increasing global temperatures.
Photo 8: Intensel, an alumnus of HKSTP and a Hong Kong climate risk analytics firm, won a top award at COP28 UAE TechSprint among 126 submissions from 31 countries. Its AI-driven climate analytics platform for measuring and translating climate hazards into financial risk at the asset level was selected as the overall winner under the AI category. (photo source: COP28 UAE LinkedIn)
Photos 9-10: “COP28 highlighted the importance of going beyond net-zero, and urging a shift towards nature-based solutions to restore biodiversity for a future that embraces nature positivity.” – Archireef. The company’s Eco-Engineering facility at KEZAD Group was visited by Mr Tse Chin-wan, Secretary for Environment and Ecology. In the future, Archireef will translate insights gained from COP28 into tangible climate actions to align their local initiatives with the broader global agenda.
Photos 11-12: “COP28 shed light on climate change, how to move energy systems away from fossil fuels in a just, orderly, and equitable manner, thereby accelerating the achievement of science-based net-zero emissions.” – Halo Energy. At COP28, the company has established connections with potential clients and investors in the Middle East market, paving way for future growth and business expansion.
Photos 13-14: “We are honoured to share our solutions globally, connecting with people worldwide and addressing the impact of global warming at COP28.” – i2Cool. The company is currently planning to promote its green solutions to the UAE and Gulf Cooperation Council (GCC) regions, on top of tapping into markets like India, Greece, Turkey, according to Dr Martin Zhu, Co-founder and CEO of i2Cool (Photo 14).
Photos 15-16: “We must swiftly reduce coal, oil, and gas production, triple global renewable power capacity by 2030, and significantly boost funding for adaptation and climate resilience.” – InnoBlock. With the global attention on its TT Green solution in COP28, the company is exploring business opportunities in the UK, South Africa, Germany, and Taiwan.
Photos 17-18: “COP28 has called for people to be responsible for the climate crisis. New technologies and solutions are necessary for carbon reduction.” – M Concept. A few contractors and designers are exploring collaboration opportunities with M Concept’s Flatcool technology. The company is also considering obtaining business or intellectual property (IP) registration in the UAE, according to Mr Paul Chan, CEO of M Concept (Photo 17).
Photos 19-20: “Through COP28, we learned that going digital is ESG’s ultimate game changer.” – Neuron Operation. The company will continue to contribute to decarbonisation, transforming and digitalising the built environment on a global scale by providing the Neuron Platform to progressively wider audiences, according to Mr Thomas Pang, Acting CEO of Neuron Operation (Photo 20).
Photos 21-22: “COP28 has escalated methane emission reduction to a global agenda, where we found our role in the Belt and Road Initiative.” – Synap Technologies. At COP28, Synap Technologies established a connection with the Global Methane Hub, which has the first-ever global platform to track and measure methane emissions from waste using satellite monitoring. On this basis, the company will gradually link up its efforts in methane reduction with the world based on its green tech experience in Hong Kong.