New Energy Transport Fund
Objective: To further encourage trial and wider use of green innovative transport technologies
Funding Details: New Energy Transport Fund comprises two streams, namely Applications for Trial and Applications for Use.
Applications for Trial (AT)
- AT only subsidises the capital cost of the hardware of the green innovative technology product proposed for trial. For AT of retrofitting conventional transport tools (diesel, petrol or liquefied petroleum gas vehicles and vessels), in addition to the capital cost of the hardware, the subsidy also includes the conversion and installation cost. AT does not subsidise the associated recurrent expenditure.
- The total AT subsidy for each applicant and its related companies is capped at HKD12,000,000. The cap cannot be combined with the subsidy cap of HKD12,000,000 for Applications for Use of the New Energy Transport Fund, and vice versa.
Applications for Use (AU)
- AU supports wider use of green innovative transport technology which proved under the Applications for Trial (AT) of the New Energy Transport Fund (the NET Fund) to be relatively mature and suitable for adoption locally. The types of technology or product included in AU will be removed from the scope of AT.
- The total AU subsidy for each applicant and its related companies is capped at HKD12,000,000. The cap cannot be combined with the AT subsidy cap of HKD12,000,000, and vice versa.
Eligibility:
- Operates commercial transport
- Has been in the relevant transport service for more than one / two years with supporting documents to show at least one-year / two-year ownership/use of the conventional counterpart of the green innovative technology product proposed for trial;
- Will likely remain in the service after the trial to bear fruit;
- Has the potential to put the new technology under test into wider use in its own operation upon successful trial;
- Has already installed or will apply to install its own charging station in the same application to support daily charging of the subsidised product if it is an electric or plug-in hybrid ones, unless it is exempted by the Government;
- Willing to share with other operators the findings of the test of subsidised product;
- Is not receiving or has not received funding from other Government sources, public bodies or charitable organizations for the same purpose of the application, except the tax incentive schemes to encourage the use of electric vehicles and environment-friendly commercial vehicles;
- Is not a supplier or manufacturer of green innovative technology product proposed for trial, or its related companies.