HONG KONG, Aug. 25, 2022 /PRNewswire/ -- CLP Group (CLP), one of the largest investor-owned power businesses in Asia Pacific, and Venturous Group (Venturous), an investor, business builder and operator of Smart Citytech infrastructure companies in China, today announced a strategic partnership to develop smart energy technology businesses in the Greater Bay Area after CLP acquired a 5% stake in Venturous.

As part of the collaboration, CLP and Venturous will explore business development opportunities and potential investments in smart energy technologies in the Greater Bay Area, a region including Hong Kong, Macau and nine cities in the southern Guangdong province, with combined gross domestic product equal to more than a tenth of China’s economy. The partnership combines the capabilities of CLP and Venturous in low-carbon energy and digitalisation to meet growing demand for sustainable energy solutions in the fast-growing region.

While China emits more than a quarter of the world’s greenhouse gases, the Central Government is determined to make the country carbon neutral by 2060, acknowledging that technology will play a key role for decarbonisation.

CLP became the lead investor in Venturous’ Series B funding round, which has so far attracted more than US$20 million as of today. Venturous completed its previous Series A funding round in March 2021, raising US$131 million. With the further funding, this will quicken the pace for the partnership between CLP and Venturous to realise its decarbonisation opportunities in the region.

David Simmonds, Chief Strategy, Sustainability and Governance Officer at CLP Holdings, said, “With CLP’s longstanding commitment to address climate change, and continued efforts to support the energy transition in Hong Kong and Mainland China, having the right technologies and partnerships is essential. We are pleased to work with a strong partner like Venturous to pursue opportunities in smart energy which offers excellent potential in the long term.”

Alex Keisser, Managing Director at CLPe, said, “With our expertise in solutions ranging from solar, cooling, smart technologies to electric vehicle charging infrastructure in both Hong Kong and Mainland China, we are delighted to partner with Venturous, under a shared vision of making cities more sustainable with smart and green energy. We look forward to the collaboration in technology, investments and business opportunities.”

Benson Tam, Founder and Chief Executive Officer of Venturous Group, said, “It is a true honour to have secured CLP as our Series B lead investor and to form a strategic partnership with them. We both share a focus and passion to be leaders of the smart energy technology revolution and the opportunities that are emerging. Smart energy is one of Venturous’ core Citytech verticals, and will be absolutely crucial in making cities more sustainable and move the world towards a decarbonised future.”

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