AFCCEF, Connecting Clean Energy Innovators with Investors
The Private Financing Advisory Network (PFAN) held its Asia Forum for Climate and Clean Energy Financing (AFCCEF) on November 1 at the Asia Clean Energy Summit (ACES), which is part of the Singapore International Energy Week (SIEW). AFCCEF, now on its ninth year, is PFAN's annual investor forum aimed at connecting renewable energy innovators with investors. This is the first year that AFCCEF participated in the Sustainable Energy Association of Singapore’s ACES, which is Asia's key event on clean energy technology, policy, and finance.
The highlight of the investor forum was the business plan competition, where ten companies showcased their climate and renewable energy projects. The participants were:
1. Lanasol Energy Solutions Private Limited, Advanced Parabolic Solar Collector for Heating in Industrial and Societal Applications
2. QIQ Vietnam, Shared Last-mile Electric Vehicle Mobility
3. Bakas Renewable Energy Pvt Ltd., Sustainable Biomass Pellet Production
4. Farm-Hand Ltd., Affordable Precision Irrigation to Improve Farm Productivity for Small-medium Farm Holders
5. W2E Co., Ltd. (a JV of Renewables Plus Bhd.), Modular Biomass Gasification in Myanmar
6. OTAGO Pte. Ltd., Franchise Model for Char-briquette Factories
7. Selex Motors JSC, Electric Two-wheeler Platform for Smart and Sustainable Mobility
8. Oorja Energy Engg Services Pvt. Ltd., Cleantech Heating and Cooling Solutions
9. Paterson Energy Private Limited, Conversion of Plastic Waste into Fuel
10. Kasuwa Khola Hydropower Limited, Run-of-river Hydropower in Nepal
The competition showed that there is no scarcity of available technology and innovative ways to mainstream renewable energy in the region. The startup OTAGO Pte. Ltd., which was seeking 2.3 million USD in equity financing, bagged the prize for their project proposal on transforming Cambodia's biomass waste into clean cooking fuel.
With an event turnout of more than 130 people, the ninth AFCCEF is a good indicator that the business sector is fully on board with accelerating clean energy in Asia. This means that more work needs to be done.
Read more about AFCCEF 9 and the business plan competition here.