"Green Earth" funding of research, startup grants that support private sector innovation, and awards for significant new progress in energy and the environment are all coming to Hengqin New Area. The Nobel Sustainability Demonstration Zone will soon be created in the Hengqin Free Trade Zone (FTZ), according to a memo signed on Aug 26 at the Transitional Corporations CEO Conference.
During the conference, the Guangdong Development & Reform Commission, Zhuhai Municipal Government, Earth Capital Partner LLP (ECP), and Hengqin Financial Investment Co Ltd signed the Nobel Sustainability Industrial Strategic Partnership Memorandum.
Nobel Sustainability Trust was founded by members of the Swedish Nobel Family. It was established in Zurich, Switzerland to be a proactive response to relevant threats to human survival, bringing public awareness to the issues of pollution and clean energy, and encouraging change, according to the organization's website.
Under terms of the document, Nobel Sustainability Funds and Hengqin's first-ever Sino-foreign joint venture fund management company will be instituted; the Nobel Family Museum to showcase and promote the Nobel scientific spirit will be established; and CleanEquity China will be initiated with Hengqin as the permanent venue for the forum.
Meanwhile, Nobel Sustainability Technology Incubation Park & Demonstration Area will be built in a bid to support R&D, incubation, sales, and applications of advanced international sustainable technologies in China, create exchanges between advanced domestic sustainable technology enterprises and their global counterparts, and help domestic quality technology-based enterprises to go global.
Michael Nobel, president of Nobel Sustainability Fund, said that the partnership with Guangdong and Zhuhai will contribute to environmental protection. The funds will focus on development of clean-energy technologies, and encourage and reward innovations to create a pollution-free sustainable environment. It will help the international community to have a better insight into China's efforts to improve and protect the environment.
To accelerate the project, Hengqin Financial Investment Co, ECP and a Zhuhai technology company signed a cooperation memorandum establishing Nobel Sustainability Fund Management (Hengqin) Co Ltd.
Intending to gain more enterprises with sustainable technologies and projects through equity investment, and relying on China's enormous market demand for sustainable development, the company will support enterprises and projects related to resource utilization and clean energy. It will also accelerate R&D, production, and application of those technologies in China.
As of now, the company has more than 10 projects in hand and the first group of them is under negotiation, sources say.