HONG KONG, 23 Feb. 2026 (GLOBE NEWSWIRE) — The TERA-Award 2026 kicks off with a total prize pool of $1.15 million. It operates globally through strategic partnerships with the United Nations Trade and Development (UNCTAD) and the University of Cambridge Institute for Sustainability Leadership (CISL) to accelerate the deployment of innovative energy technologies to address climate challenges.
Introduced in 2021 by Dr. Peter Lee Ka-kit, the TERA-Award has become a major international platform, combining prize funding, real-world applications, industrial collaboration, and capital support for cutting-edge climate innovations. Over 2,000 projects from 76 countries were submitted, resulting in a total of $4.65 million in prizes.
UNCTAD provides the UN’s policy expertise and global networks to connect TERA-Award innovations to international markets, facilitating their rapid deployment. CISL enhances evaluation through advanced climate and energy research to identify commercially viable projects.
Alan Chan Ying-lung, executive president of the TERA-Award organizing committee, stated: “By collaborating with international organizations and governments worldwide, we aim to accelerate the concrete implementation of TERA-Award projects and provide practical technological solutions for global energy transition.”
Faced with emerging technological challenges, the TERA-Award 2026 introduces two new categories in addition to its existing four tracks: AI & Energy and Next-Generation Energy.
InvestHK, a strategic partner of the TERA-Award, believes that the Hong Kong ecosystem facilitates the deployment of energy technologies. King Leung Hong-king, global head of financial services, FinTech, and sustainability, added: “The TERA-Award demonstrates how our policy support, research excellence, and global connectivity foster the commercialization of climate innovations. InvestHK will bridge innovators with Asia and beyond.”
The 2026 edition offers a total prize pool of $1.15 million. Applications are open until the end of April 2026. Presentation tours will be organized in Europe and Asia in the coming months to engage innovators worldwide.
The 2025 edition attracted 785 projects and hosted a highly successful award ceremony at the University of Cambridge. Applications for the TERA-Award 2026 are now open. Innovators are invited to submit their applications via the official website www.tera-award.com.
For media inquiries, please contact: Ms. Wing Li TERA-Award Company Limited Tel.: +852 2963 2716 Email: wingli@tera-award.com
An accompanying photo for this press release is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/e9d94577-4214-483b-9880-9d0b9e4570af
