CapitaLand has set up a S$50 million CapitaLand Innovation Fund to support the testbedding of sustainability and other high-tech innovations in the built environment space as the Group steps up its sustainability drive. This was announced by CapitaLand’s Group Chief Executive Officer, Mr Lee Chee Koon, at the Grand Finale of the inaugural CapitaLand Sustainability X Challenge (CSXC) where the top two winners were crowned. The ‘High Impact Award’ went to INOVUES, INC, while the ‘Most Innovative Award’ went to Climatec Corp Pte Ltd. INOVUES, INC and Climatec Corp Pte Ltd emerged winners amongst six finalists that were shortlisted from over 270 entries received from more than 25 countries. INOVUES, INC’s innovation focuses on an insulating glass retrofit technology that reduces heat gain inside a building, reducing the energy consumption used to heat or cool the building by up to 40%. Climatec Corp Pte Ltd’s innovation is a water treatment process utilising photon vibration frequency technology to treat cooling tower water without the use of chemicals or power, achieving 60% to over 90% water savings and 1% to over 5% energy savings. Both winners of the CSXC will receive S$50,000 each to fund their pilot projects with CapitaLand. Over 50 partners have contributed to the success of the sustainability challenge. CSXC’s international partners range from government agencies to the business community, industry experts, venture capitalists, financial institutions as well as institutes of higher learning. The CSXC is a part of CapitaLand’s 2030 Sustainability Master Plan which details the Group’s sustainability strategies and goals over the next 10 years. For more information on the CSXC and CapitaLand’s 2030 Sustainability Master Plan, please visit: https://www.capitaland.com/international/en/about-capitaland/sustainability.html and www.capitalandsustainabilityxchallenge.com.
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