Case studies

2022

Leading the technology breakthrough in hydrogen storage through investment

CLP’s Investment and Venture team took a three-pronged investment strategy covering direct equity investments, venture capital funds and joint venture investment partnerships. Capital has been deployed in strategically significant geographies (Greater China, Israel and the United States) and focus areas such as virtual power plant orchestration, cybersecurity and building energy management. 

CLP Group has invested over HK$780 million in venture capital funds since 2017. The benefits derived from these investments are twofold. Firstly, the investment brings direct strategic value to CLP business operation. For example, through AutoGrid’s demand response solutions, CLP reduces stress in the network, while Claroty’s Operational Technology solutions digitally secure CLP's critical assets. Secondly, it imposes substantial influence to customers and the wider community by offering energy management solutions. For example, CLP supported the Airport Authority Hong Kong to adopt R&B’s energy management solutions at Hong Kong International Airport. 

Advanced technology in handling hydrogen is the key in driving the transition to green transportation. Hydrogen is the potential fuel source of the future. However, multiple challenges are present throughout its lifecycle – production, storage and transportation. CLP established joint venture investment partnerships with HydroX which develops an energy-efficient, environmentally friendly chemical process to store hydrogen using water and bicarbonate (like baking soda) at near room temperature and pressure. This technology breakthrough in hydrogen storage allows an efficient and safe use of hydrogen as fuel in vehicles which will bring a paradigm shift in transportation and operations across various industries.