The funding initiative will be led by the Singapore Economic Development Board (EDB) and the Advanced Energy and Decarbonisation Office (AEDO). (EPA Images pic)SINGAPORE: Singapore has unveiled a S$143 million Decarbonisation Funding Initiative (FI) to accelerate the development and commercialisation of low-carbon technologies for industries.

The funding initiative will be led by the Singapore Economic Development Board (EDB) and the Advanced Energy and Decarbonisation Office (AEDO).

Deputy prime minister and energy, trade and industry (trade) minister, Gan Kim Yong said the initiative will support the development of technologies to address industries’ key decarbonisation challenges.

These include capturing carbon more efficiently from industrial flue gas or converting captured carbon into useful products such as chemicals.