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@towngas.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/514007ad-2257-4658-a9e5-c24870dd9fb1