Hello there,

I hope your had relaxing holidays and enjoyed the lovely spring vibes everywhere in Europe. I’ve been soaking up the lively atmosphere here in the vibrant city of Malmö which hosted the 2024 Eurovision. But I've kept up with the latest environmental developments in China. So, let’s dive into this week’s highlights!

Green Policy

This week, the Chinese government, spearheaded by the Ministry of Commerce and the Ministry of Finance, has introduced the "Implementation Rules for Subsidies in Automobile Replacement Programs." This initiative offers financial incentives for consumers who scrap eligible old vehicles and purchase new, energy-efficient ones, effective immediately until December 31, 2024.

  • Individual consumers who scrap passenger vehicles that meet National III emission standards or lower, or new energy vehicles registered before April 30, 2018, and purchase new passenger vehicles that meet energy-saving requirements, are eligible for a one-time fixed subsidy.
  • Specifically, a subsidy of 10,000 yuan is provided for scrapping the aforementioned categories of old passenger vehicles and purchasing eligible new energy vehicles; a subsidy of 7,000 yuan is provided for scrapping passenger vehicles that meet National III emission standards or lower and purchasing new fuel passenger vehicles with a displacement of 2.0 liters or below.

Applications for the subsidy must be submitted via the National Automobile Circulation Information Management System website or a corresponding mobile app by January 10, 2025. Documentation proving eligibility must be acquired during the specified period.

Local authorities are charged with the efficient management of these subsidies, ensuring rigorous supervision and maintaining neutrality in the scrapping process to avoid monopolistic practices. They are also expected to establish dedicated hotlines to handle inquiries and uphold public transparency.

More about this can be found here.

Innovations in Material Science

Phomera Metamaterials Inc., established in 2015 and based in Zhuhai, Guangdong, specializes in the production of photonic crystal metamaterials, which are used across various industries including photovoltaics, consumer electronics, construction, and electric vehicles. The company's leadership includes experts from the University of Cambridge and Harvard University.

BASF Venture Capital (BVC) has announced an investment in Phomera during its Series A financing round to support the growth of the photonic crystal metamaterial industry. This investment will facilitate Phomera's capacity expansion, market development, and product enhancements.

Photonic crystal metamaterials are synthetically produced by arranging microspheres of materials like polystyrene, polymethyl methacrylate, or silica into periodic structures. These materials can manipulate electromagnetic waves to produce changes in material properties, conductivity, magnetic control, and color, offering a sustainable alternative to traditional materials due to their environmental benefits and cost-effectiveness.

Phomera provides products such as photonic crystal pigments and films, which are environmentally friendly alternatives to chemical dyes. These products have been successfully implemented in various sectors, including wearables, automotive, and architecture, and have established multiple commercial partnerships.

For more details, check out the full story here.

Advancing Carbon Neutrality

Hefei POLY Advanced Materials Technology Co., LTD  has successfully completed its Series B+ funding round, securing tens of millions of yuan led by Enze Fund, an industrial investment fund initiated by Sinopec Group. The investment will be directed towards developing innovative technologies and boosting working capital.

Founded in 2017, POLY Advanced Materialsis focused on the high-value utilization of carbon dioxide and the production of new negative carbon materials, specifically targeting the utilization segment of Carbon Capture, Utilization, and Storage (CCUS).

The company's primary innovation is in the development of polycarbonate diol (PCE), a product synthesized using carbon dioxide as a raw material, with a CO2 content exceeding 30%. This breakthrough reduces dependency on petrochemical raw materials and minimizes direct carbon emissions, positioning carbon neutrality as both an environmentally and economically sustainable goal.

The details of their exciting progress are available here.

Solar Energy's Bright Future

Mellow Energy, a perovskite solar cell company in Guangdong, recently completed a Pre-A round of financing led by Hua Capital, with participation from China Merchants Venture and Yongqian Investment. The funds will be used to construct a 100MW production line for perovskite photovoltaic modules.

Founded in 2022 and achieving a certified conversion efficiency of 22.86% for its large-area modules, Mellow Energy is advancing the mass production capabilities of perovskite cells, aiming to support China's dual-carbon strategy with its new production line expected to complete by June 2024.

Read more about their innovative projects here.

Nordics X China Collaboration

Lastly, the 2024 Zhongguancun Forum on China-Nordic Sustainable Development and Innovation was held on April 26, focusing on key issues such as global carbon neutrality and digital economic innovation. Hosted by the Dongcheng District People's Government and co-organized by multiple institutions, the event convened in Beijing at the National Independent Innovation Demonstration Zone Conference Center.

Key topics discussed at the forum included smart energy, energy transformation, artificial intelligence, digital innovation, and green low-carbon technology. The forum aimed to foster cooperation and promote technological innovations that align with green and digital economic goals.

Distinguished speakers included academics and industry leaders who shared insights on advanced topics such as hydrogen energy technologies, smart cities, energy transformation, and ESG (Environmental, Social, and Governance) principles. Anna Söderholm from the IVL Swedish Environmental Research Institute highlighted the institute's contributions to carbon neutrality and introduced their widely recognized International EPD system.

The event served as a platform for launching new initiatives and for dialogue among scientists, entrepreneurs, and investors to drive forward the agenda of sustainable development and digital transformation in the energy sector. Read more here.

Until next time, stay green and keep innovating!

Share this post