HKSTP Releases First-Ever Battery and Energy Storage Strategy Analysis Report

• Responding to Global Energy Transition Demands: Energy security, renewable energy grid integration, accelerating electrification, and surging power demand from AI infrastructure are jointly propelling the growth of the battery and energy storage (BES) industry.
• Demonstrating Hong Kong’s Comprehensive Industrial Ecosystem: Boasting a comprehensive four-stage BES value chain, Hong Kong ranks among Asia’s premier energy storage ecosystems, driving circular industry development. Three of the world’s top ten energy storage giants—CATL, BYD, and Gotion High-Tech—have established a presence within HKSTP’s ecosystem

• Material and Battery: Hong Kong is home to five of the world’s top 100 universities and possesses world-class research capabilities. Its leading university network and open talent admission schemes have successfully attracted international talent. Several HKSTP park companies focus on cutting-edge R&D in next-generation batteries. For example, Luquos Energy, led by a team from The Chinese University of Hong Kong, has successfully developed the world’s first sulphur-based flow battery. Technology significantly reduces costs while avoiding the fire risks associated with overheating in conventional lithium-ion batteries, enhancing safety.

• Integration and Intelligence: Assembling batteries into battery packs or containerised energy storage systems enables wider deployment across communities. Hong Kong’s exceptionally high-density urban environment offers abundant real-world application scenarios for energy storage technologies. The growing number of electric vehicles is driving demand for fast-charging infrastructure. With more than 60% of private buildings in Hong Kong over 30 years old and facing power supply capacity constraints, energy storage systems can store electricity during off-peak periods and discharge it during peak periods, providing a supplementary solution for ageing buildings. Park companies’ technologies are also being deployed at construction sites to support the high-power demands of heavy machinery and reduce reliance on conventional diesel generators. Meanwhile, intelligent technologies are steadily maturing, including the use of AI to monitor battery condition and health.

• Project Management and Finance: A range of large-scale projects in Hong Kong supports BES development, including a major local battery energy storage system under construction by a power company. The commercial sector is also accelerating the adoption of energy storage technologies. Park company Halo Energy, for example, has partnered with XPENG to introduce the world’s first megawatt-level ultra-fast EV charging station in Hong Kong, setting a new benchmark for smart mobility in the city. As Asia’s largest international green and sustainable debt arranging hub, Hong Kong also plays a distinctive role as a green finance gateway, with related issuance exceeding USD 76 billion in 2025. This month, HKSTP also signed a memorandum of understanding with the “Green Accelerator” to connect promising green tech companies with capital and financing channels, helping startups progress from R&D to commercialisation.

• End-of-Life Battery Management: Market projections indicate that Hong Kong will generate nearly 6,700 tonnes of retired EV batteries in 2030, making proper treatment and the reduction of environmental pollution pressing priorities. Several park companies have already taken the lead in technology development. GRST, for example, has developed a non-toxic, water-soluble battery binder that eliminates the need for conventional incineration or strong-acid soaking during battery recycling, reducing carbon emissions at the recycling stage by up to 80%. Together with the HKSAR Government’s introduction of the city’s first large-scale EV battery recycling facility last year, which converts waste batteries into valuable mineral resources, these efforts demonstrate how industry, government, and the research community are working together to build a green circular economy.

HKSTP is committed to capturing the global energy transition opportunities identified in the BES Strategic Analysis Report and developing Hong Kong into an international green technology hub. HKSTP’s GreenTech Hub in Kowloon Tong will continue to serve as a bridge, deepening cross-sector collaboration among companies, research institutions, and industry partners. It will help investors identify energy storage opportunities, advance the adoption of cutting-edge green solutions, and accelerate startup commercialisation, building a green innovation ecosystem with international influence and jointly tapping into the global market for the green energy transition.

HKSTP also showcased green solutions from six park companies at the summit, fostering exchanges among tech ventures, industry partners, and investors.

Exhibiting Park Companies:

• Luquos Energy Limited
• Syneric Technology (HK) Limited
• CAS Testing Technical Services (Hong Kong) Company Limited
• Nanofil Filtration Technology Limited
• ECO Technologies Limited
• i2Cool Limited