More Funds for Clean Tech & Awards for
Singapore’s clean energy industry will
receive $195 million over five years to sharpen its capabilities in areas such
as smart grids, green buildings and carbon capture and utilisation. EDB
chairman Leo Yip announced the injection of funds yesterday at the second Clean
Technology Investment World Asia. Meanwhile, some of the country’s biggest
corporate names were in the winner’s circle when awards for clean and green
firms were handed out. The Singapore Sustainability Awards judged the 68
entrants on the levels of sustainability, innovation and commercial potential
of their business practices.
Feng Zengkun in Straits Times (13 July
The clean energy industry will receive $195
million over five years to sharpen its capabilities in areas such as smart grids,
green buildings and carbon capture and utilisation.
More than that, it will also push the
industry closer to its 2015 targets of $1.7 billion in economic value-add and
7,000 skilled jobs.
The sum will be granted to the inter-agency
Energy Innovation Programme Office (EIPO), led by the Economic Development
Board (EDB) and the Energy Market Authority.
The $195 million will support ‘competitive
grants’ for ‘bottom-up innovations’; strengthen public research centres in
industry-oriented innovation; and help boost the commercialisation of research
and development (R&D) results and develop postgraduate talent working on
EDB chairman Leo Yip announced the injection
of funds yesterday at the second Clean Technology Investment World Asia conference
held at the Grand Hyatt Singapore.
The investment follows a ‘top-up’ amount of
$140 million to the water sector announced by Deputy Prime Minister Tharman
Shanmugaratnam last week, earmarked for water R&D.
Mr Yip, in his opening address at the conference,
said that Singapore offers global cleantech companies ‘four key ingredients all
in one place’: technology, markets, talent and capital.
The injection of state funding will further
elevate Singapore’s technological competency. Public research centres such as
the Solar Energy Research Institute of Singapore (SERIS) can expect to receive
some part of the funding.
SERIS and other centres have been able to
attract ‘peak talent and deep talent who may be business, research and practice
leaders in cleantech specialisations’. Mr Yip cited Joachim Luther, former
director of the Fraunhofer Institute for Solar Energy Systems and current SERIS
CEO, as one such name.
Singapore has also overcome its small size as
an energy market to offer itself as a ‘test-bed’ market for companies peddling
new green solutions. The upcoming eco-business park, Cleantech Park, ‘will
provide platforms for companies to showcase systems-level cleantech solutions’,
said Mr Yip. Singapore has also a ready pool of ‘cleantech investors’ in the
form of banks, corporate investors, leading venture capitalists and private
Furthermore, EDBI – the investment arm of EDB
– has been investing in ‘innovative companies with globally competitive
technologies’ keen to grow their companies through Singapore. CEO of EDBI Chu
Swee-Yeok said that it has to date invested about US$100 million in 10
cleantech projects around the world over the last few years. Two Singaporean
projects have benefited from EDBI’s monetary support.
‘Singapore’s pro-business environment,
logistics connectivity, rule of law, intellectual property rights protection
and innovation capability have all helped make it a strategic location for many
cleantech companies to launch their Asian growth plans,’ said Mr Yip.
Daniel Ho in the Straits Times (12 July
SOME of the country’s biggest corporate names
were in the winner’s circle when awards for clean and green firms were handed
The Singapore Sustainability Awards judged
the 68 entrants on the levels of sustainability, innovation and commercial
potential of their business practices. The awards, which were set up by the
Singapore Business Federation (SBF) in 2009, have two strands – Sustainable
Business and the Green IT.
Frost & Sullivan, IBM and KPMG served as
Logistics giant DHL, Sembcorp Industries and
industrial landlord JTC Corporation took top honours in the enterprise category
in the Sustainable Business Awards while Greenpac, Rigel Technology and Siloso
Beach Resort were tops in the Small and Medium Enterprises group.
The National Library Board, Tak System
Integration and eBUS Media Networks won the Green IT awards.
The presentation ceremony was held at the
Grand Hyatt Singapore, and attended by Mr Teo Ser Luck, Minister of State
(Trade and Industry).
Mr Teo praised the award winners for taking
‘an important step in the right direction, which also serves as a competitive
advantage that enables our companies to capture regional and global projects’.
Mr Sharad Somani, head of climate change and
sustainability services at KPMG, added: ‘Singapore companies should take up
sustainability initiatives not only as a regulatory imperative, but for business
growth and competitiveness.
‘Leading global companies like Walmart are
extensively focused on ensuring their entire value chain adheres to best
sustainability practices – from suppliers, right through to their end
The Sustainability Awards attracted twice as
many entrants this year as last year, indicating the growing importance of
sustainable practices here.
SBF chief operating officer Victor Tay said
stakeholders and customers are increasingly more conscious about a business’
impact on the environment.
‘Customers will choose a product based on its
carbon footprint,’ he added.
He noted that sustainable practices are
becoming more commercially viable due to advances in technology.
‘In the past, environmental products were
much more costly. Nowadays, sustainability allows for efficiency of cost.’