The Hong Kong Science and Technology Parks Corp announced on Tuesday the upgrade of its InnoCentre in Kowloon Tong into the GreenTech Hub, in the city’s latest move to push forward with green development.
In collaboration with 16 financial and commercial institutions, universities, and industry support organizations, the facility will provide more than 200 resident green technology companies with support in talent training, testing and application scenarios, and business matching.
The move aims to rally support from the business and academic sectors for startups in the field of green technology, and solidify Hong Kong’s position as a global leader in green tech and finance.
The development of the GreenTech Hub was unveiled by Financial Secretary Paul Chan Mo-po in the 2025-26 Budget released on Feb 26, which outlined an array of supportive measures in the finance, technology, shipping and aviation sectors to drive Hong Kong towards a greener future.
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At the opening ceremony of the GreenTech Hub on Tuesday, Chan said he expects the hub to “become a cross-sector and cross-border exchange platform on green policies, standards, know-how, business practices and opportunities”.
Chan said Hong Kong’s green tech ecosystem is “vibrant”, noting that the city’s incubators -- the Hong Kong Science Park and the Cyberport -- are home to about 300 start-ups specializing in energy-efficient materials, carbon capture, and electric vehicle infrastructure. Many of these companies have tapped into international markets, including the Middle East and Southeast Asia.
By integrating green technologies with Hong Kong’s leading edge in green finance, “we’re not just contributing to global green progress but also creating new impetus for Hong Kong’s economic future”, the finance chief said.
“The GreenTech Hub is a cornerstone of this vision,” he added.
The number of green technology startups in Hong Kong increased by 82 percent year-on-year in 2024, which HKSTP CEO Albert Wong Hak-keung said demonstrates the city’s potential in this sector.
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But he said technology alone is not enough, and collaboration is essential for a real impact. “The hub could help bridge the gaps between industry, academia, and research,” he added.
The facility has designated a special area -- the Green Space -- to showcase the innovative green solutions of its resident companies.
Among them is Luquos Energy, a startup founded in 2020 and specializing in developing flow batteries for both stationary and mobile energy storage.
Co-founder and CEO Simon Wang Zengyue said the company’s research findings have been commercialized, with its integrated energy storage solutions providing for an electric vehicle charging station in Bao’an district in Shenzhen.
Wang said his company operates offices in both Hong Kong and Shenzhen. In light of the two cities’ complementary strengths, the Hong Kong office mainly focuses on foundational research and development, while the Shenzhen office is dedicated to promoting manufacturing.
“Hong Kong has the capabilities to incubate world-class technological innovations,” since it enjoys competitive advantages such as a wealth of talent, robust government support for research and development, and its proximity to Guangdong province, which has a well-established manufacturing industry chain, Wang said.
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During a forum at the opening ceremony, Ivo Spreeuwenberg, director of group strategy at CLP, one of Hong Kong’s two power suppliers, also emphasized the importance of technology.
The share of renewable energy in electricity generation capacity worldwide has significantly increased over the past years, and it is the advancement of technology that has made this possible, he said.
