ADB sets up cleantech matchmaker in Singapore

Singapore

THE Asian Development Bank (ADB) has set up a new platform in Singapore to match buyers and sellers of low-carbon technologies, as Asia's push to use more clean energy has made more urgent the need for the transfer of technologies from developed countries.

By combining financial, technical and legal expertise to evaluate technologies in a single platform, the service, called IPEx Cleantech Asia, is said to be a world-first. It will be run by a joint venture between DNVGL, a global advisory firm, and ReEx Capital Asia, a Singapore clean energy investment banking and consulting firm. Both were chosen after a competitive selection process by the ADB.