The Sustainable Energy Association of Singapore (SEAS) invites Philippine startups in the energy space to participate in PowerACE 2022, a pitching competition that seeks innovative solutions in clean energy.
The problem statements for the competition are in the areas of decarbonization, digitalization, buildings, and e-mobility.
Southeast Asia’s overall energy demand is set to grow by 60% between 2019 and 2040, according to a 2019 report by the International Energy Agency. Steering the region to a more sustainable energy path necessitates the scaling up of renewables deployment. It also requires improving energy efficiency, phasing out fossil fuel consumption, and tackling emissions from coal plants.
“PowerACE represents a great opportunity for innovators and fast-growing start-ups to connect with investors, business leaders and industry experts and gain new insights and mentorship opportunities for scaling up,” said SEAS executive director Kavita Gandhi in an Aug. 9 statement.
Last year’s PowerACE winners are WeavAir, which developed a sensor-based, internet of things (IoT) solution that reduces energy by 30-40% while improving indoor air quality; DiviGas, which invented a nano-molecule filter that enables carbon removal to purify hydrogen; and SunGreenH2, which is building the highest efficiency water electrolyzer using advanced nanostructured materials. WeavAir, DiviGas, and SunGreenH2 won awards valued at SG$13,000, SG$82,000, and SG$100,000, respectively.
Past participants from the Philippines include ATE Co-Access to Energy for Communities, Pascal Resources Energy, Inc., Urban Greens Hydroponic Farm Systems, Enpower, Engine EcoPhils., Inc., and Hive Energy PH.
The top 12 startups get to pitch and exhibit at Asia Clean Energy Summit (ACES) this October. ACES focuses on clean energy technology, policy, and finance, and is supported by government agencies, research institutes, and industry in Singapore.
Winning teams can look forward to a funding pool of up to SG$600,000 and assistance from EcoLabs Center of Innovation for Energy, an innovation cluster focused on building and accelerating deep-tech energy innovation capabilities in Singapore, and City Developments Limited, a global real estate operating company.
“Other opportunities extended to successful solutions include … networking with experts in the industry, and a one-month mentorship to strengthen business models and pitches,” Ms. Gandhi added in an Aug. 10 e-mail.
The shortlisted teams will be required to pay for their own travel expenses to Singapore.
Applications close on Aug. 16. — Patricia B. Mirasol