SINGAPORE, Oct. 23 (Xinhua) -- Singapore on Friday launched a 143 million Singapore dollars (112 million U.S. dollars) funding initiative to accelerate the development and commercialization of low-carbon technologies for industry, its largest single funding program to date dedicated to industrial decarbonization research and development.
The initiative will support research into technologies tailored to Singapore's specific industrial emissions challenges, with funding focused on carbon capture, carbon utilization and other emerging technologies, the Advanced Energy and Decarbonisation Office and the Singapore Economic Development Board said in a joint statement.
Up to 100 million Singapore dollars will be set aside for company-initiated projects. Companies, including startups and technology providers, can initiate and design projects in partnership with Singapore's public research institutions. The government will co-fund up to 75 percent of eligible project costs.
Industrial activities, including manufacturing, account for nearly two-thirds of Singapore's emissions, the statement said.
However, emissions from energy-intensive activities such as petrochemical production, refining and fuel combustion remain difficult to reduce, while Singapore's land and resource constraints limit the feasibility of deploying some solutions at scale. Targeted research is therefore needed to address these challenges, the statement said. ■