Ampd Energy and HSBC sign inaugural green term loan

Mar 01, 2023
Ampd Energy
Bolstering Hong Kong Government’s mission of transforming the city into an International GreenTech and GreenFi Centre

Ampd Energy (Ampd) and HSBC have closed a USD8 million green term loan, marking the Bank’s first green loan facility for a climate technology firm in Hong Kong.

HSBC acted as the Sole Lender, Security Agent and Account Bank of the inaugural green loan for Ampd. The proceeds of the bespoke financing solution, provided from the HSBC GBA Sustainability Fund and the HSBC GBA+ Technology Fund, will be used to support the manufacturing of Ampd’s climate technology products that the company is looking to offer globally to reduce carbon emissions stemming from construction activities.

Climate technology companies around the world are developing next generation technologies to help tackle climate change and reduce carbon emissions. In Hong Kong, Ampd has designed an advanced, compact and connected battery energy storage system named the “Enertainer” to replace the traditional fossil fuel generators that are commonly used to power construction activities across different geographies. The innovative power solution reduces up to 85 per cent of CO2 emissions when compared to fossil fuel generators, in addition to being 30 times quieter.

Brandon Ng, Chief Executive Officer and Co-Founder, Ampd Energy, said, “The construction industry is one of the largest industries in the world, and despite the progress Ampd Energy has made so far in decarbonising the industry, we are still barely scratching the surface. It is for that reason we are delighted to be partnering with HSBC, an organisation which has an immense reach and scale, to enable us to achieve the ambitious goals we have set for ourselves. We look forward to continuing the journey we have started with HSBC for an emission free future for construction and beyond.” 

Frank Fang, General Manager, Head of Commercial Banking, Hong Kong and Macau, HSBC, said, “We are excited to support Ampd, a homegrown climate tech start-up, in broadening its footprint beyond Hong Kong and expanding its efforts in decarbonising the construction industry. The loan deal demonstrated how the financial sector can play an active role in unlocking the potential of green tech innovations in the city. The funding ecosystem for tech startups will continue to thrive as Hong Kong develops into an international green technology and financial centre. HSBC is committed to supporting Hong Kong in achieving this strategic goal.”

In November 2022, Ampd Energy was announced as the only finalist from Hong Kong for the 2022 Earthshot Prize, which was established by Britain’s Prince William to search for, select, accelerate and scale solutions to the world’s biggest climate and environmental challenges. Ampd Energy was one of three finalists in the ‘Clean Our Air’ category.

HSBC GBA+ Technology Fund is a financing scheme for high-growth, early stage companies in new economy sectors in the Guangdong-Hong Kong-Macao Greater Bay Area. It aims to provide entrepreneurs that have viable business models with liquidity to finance growth.