SINGAPORE and SEOUL, South Korea, Oct. 18, 2024 /PRNewswire/ -- Regulations in the trade sector to address the climate crisis are becoming increasingly stringent. Europe's Carbon Border Adjustment Mechanism (CBAM) is set to take full effect in just over a year, and the number of companies participating in ESG management continues to rise annually. One of the key alternatives for addressing the climate crisis and trade regulations is reducing carbon emissions through renewable energy.
Globally, over 430 companies are participating, and in Korea, 36 companies, mostly large corporations, have joined efforts to purchase electricity produced from renewable energy sources.
Korean companies, which rely heavily on export manufacturing, use significantly more electricity than RE100-participating companies in other countries. However, Korea's renewable energy adoption remains at the lowest level among OECD countries, placing the fulfilment of RE100 commitments by companies in jeopardy and creating challenges in the trade market.
In this context, the government is signaling a policy shift from the Renewable Portfolio Standard (RPS) to a bidding system, a change that has been developing over the past decade. A pilot project is expected in October, along with plans to operate a program supporting corporate Power Purchase Agreements (PPAs).
Amid rising external pressure from global trade and domestic system transitions, Korean companies are grappling with how to utilize renewable energy effectively. In response, the Korea RE100 Committee and Korea University are set to host the 5th Korea RE100 Conference on October 25 at the AT Center in Yangjae-dong, Seoul.
The event will be divided into three major sessions: the Keynote Session, the Global Renewable Energy Market Outlook and Domestic Renewable Energy Policy Session, and the Session on the Current Status of RE100 Implementation in Korea and PPA Activation Strategies. In the keynote session, prominent figures like Choi Yoon-ho, Vice President of SK E&S Renewable Energy Division, Yoo Jae-yeol, Executive Director of Hanwha Q CELLS Korea Division, and Jung Taek-jung, Chairman of the Korea RE100 Committee, will present on strategies to revitalize Korea's renewable energy market.
The second session, focusing on the global renewable energy market outlook and domestic renewable energy deployment, will feature speakers like Yoon Tae-hwan, CEO of Root Energy, Jeon Byung-jin, Managing Director of GS Wind Power, and Huh Yoon-jae, Director at S&P Global.
The final session, discussing the current status of RE100 implementation and strategies for PPA activation in Korea, will include presentations by Kim Young-hoon, Head of Korea-Japan Policy Cooperation at Amazon, which is expanding its business in Korea while fulfilling its RE100 commitments, and Park Won-young, Team Leader at L&F, which produces cathode materials, a key component of the secondary battery industry. They will discuss corporate carbon neutrality and RE100 strategies. The session will conclude with a presentation by Park Jae-pil, CEO of Peak Energy, on financing and investment strategies to boost renewable energy adoption in Korea.
Jaepil Park, CEO of Peak Energy Korea said, "Peak Energy is committed to Korea, we currently own and operate one of the largest projects in the country. Peak and its partners are committed to helping the South Korean Government achieve its goals and Korean and international corporates in Korea to achieve their sustainability targets. We are keen to help by bringing global best practices."
About Peak Energy
Peak Energy is headquartered in Singapore and is an Independent Power Producer that develops, owns, and operates renewable assets across Asia. Peak Energy's activities encompass the whole specter of renewable energy business models such as utility-scale development, off-site PPAs, onsite PPAs and energy storage applications, in order to position itself as the one-stop partner for corporates seeking to decarbonize their operations in Asia Pacific. Peak Energy has nearly 300 MW of operating solar projects across Asia. For more information, please visit https://www.peakenergy.asia. Peak Energy is wholly-owned by Stonepeak. Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with $70 billion of assets under management.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Peak Energy is participating in the 'Korea RE100 Conference.
Peak Energy is participating in the 'Korea RE100 Conference.
Peak Energy is participating in the 'Korea RE100 Conference.
Pioneers the Next Chapter in AI Development
Honouring the Late Professor Tang Xiao'ou's Vision for Nurturing the Ecosystem
HONG KONG, Oct. 18, 2024 /PRNewswire/ -- SenseTime co-organised the SenseTime 10th Anniversary Global AI Summit with the Hong Kong Science and Technology Parks Corporation, with InvestHK as a strategic partner on October 17. The Summit brought industry leaders, government officials, and AI experts to discuss the next decade of innovation. With the theme "Empowering Inclusive Innovation for the AI 2.0 Era", the Summit highlighted SenseTime's journey from an academic startup to a leading global AI company. Approximately 300 international guests were in attendance, underscoring the Summit's significance for Hong Kong's role as a regional hub for technology and innovation. These guests included:
Ms. Cheong Man Lei, Lillian, Under Secretary for Innovation, Technology and Industry, HKSAR, said, "We are pleased to learn the continued efforts of SenseTime dedicated to developing original AI algorithms which will help address real-world challenges. Likewise, the HKSAR Government adopts an all-round strategy to develop the AI ecosystem. As pointed out in this year's Policy Address, through the digital government and smart city initiatives as well as the HKD $10 billion I&T Industry-Oriented Fund, we will join hands with the industry, academia, research, and investment sectors to drive innovation in the AI field."
Dr. Sunny Chai, Chairman, Hong Kong Science and Technology Parks Corporation, said, "I am extremely grateful to witness SenseTime's every significant moment and support its innovation and technology journey. Its growth into Asia's largest AI software company showcases Hong Kong's capability to develop world-class technology enterprises. HKSTP is committed to strengthening support for fostering innovation at every level—from startups to established tech giants. We will continue to uphold Hong Kong's leadership in technological innovation and support the national goal of amplifying 'New Quality Productive Forces'. Let's continue to innovate and collaborate across borders, and shape a sustainable future filled with AI potential and opportunities for everyone."
Mr. Andy Wong, Head of Innovation and Technology, InvestHK, also said, "Congratulations to SenseTime on their 10th anniversary in Hong Kong. We are proud to have a global leading AI solution provider that calls Hong Kong home."
In the past decade, artificial intelligence technology has evolved from its initial stage to become the focal point of the global technology industry. Dr. Xu Li, Chairman of the Board and CEO of SenseTime, said, "As we forge ahead towards the AI 2.0 era, SenseTime is committed to driving a new phase of innovation, built on a foundation of robust digital infrastructure, advanced models, and real-world applications. Our focus will be on harnessing the transformative power of AI to boost productivity and empower industries through our large models, while ensuring that our advancements contribute to sustainable progress and create meaningful benefits for society as a whole. We remain dedicated to expanding the horizons of AI, making it accessible, inclusive, and impactful for the future."
Global AI Developments: Transforming Industries and Infrastructure
The Summit featured seven thematic panels on topics ranging from the role of AI in business transformation to ethical governance. These discussions highlighted how AI-driven technologies are reshaping industries across the globe, with a particular emphasis on opportunities in Asia Pacific and the Middle East.
Among these discussions was the panel on "Reinventing Industries with AI: Driving Business Transformation Across APAC", which highlighted key aspects of AI adoption across various industries and regions. The panel explored the diverse AI landscape and its seamless integration into vertical industries, focusing on successful applications in sectors like real estate and finance. Overall, the panel advocated the responsible and innovative use of AI across the Asia-Pacific region, while stressing the need for a forward-thinking and sustainable. As SenseTime sees significant growth potential in the Asia-Pacific region, it has also been collaborating with partners across the region to support the digital transformations of these industries through AI. This includes the provision of localised large models that cater to the community's cultures and languages to meet their specific needs.
In another key area of discussion, the panel on "AI-Driven Urban Transformation: Building Connected and Intelligent Cities Across Hong Kong and the Middle East" focused on the use of AI to strengthen digital infrastructures in the Middle East and Hong Kong, particularly in enhancing the overall tourism and visitor experience. The panelists emphasised that the successful integration of AI into business operations hinges on leveraging AI-powered insights and advanced analytical capabilities, which enable more informed decision-making and drive impactful results. SenseTime has worked with clients in the Middle East to develop localised AI solutions in areas such as digital entertainment, smart buildings, smart parking, and intelligent offices, and has established AI research labs to nurture local talent and drive AI development in the region.
Nurturing the Next Generation of Innovators in AI
Two notable segments focused on nurturing the next generation of innovators in AI and catalyzing innovation in Hong Kong while honoring Professor Tang Xiao'ou, SenseTime's late founder, who played a pivotal role in shaping the company's mission to create a better AI-powered future through innovation. In the Summit's opening panel, Dr. Lin Dahua, Co-founder, SenseTime, and other distinguished academics who crossed paths with Professor Tang reflected on his commitment to nurturing AI talent, and his vision for AI as a transformative force for society.
The Summit concluded with a fireside chat, "Catalyzing Innovation: Elevating Hong Kong's Collaborative Leadership in the Global Innovation Ecosystem," featuring Ms. Cindy Chow from the Alibaba Hong Kong Entrepreneurs Fund, Mr. Albert Wong from the Hong Kong Science and Technology Parks Corporation, and Dr. Xu Li. This discussion underscored Professor's Tang's influence on Hong Kong's innovation landscape and his legacy of translating research into AI solutions that address societal challenges.
Looking Ahead: The Next Decade of AI
As SenseTime embarks on its next chapter, the company remains steadfast in its mission to harness AI for societal benefit and drive sustainable development across industries. This 10th anniversary is not only a commemoration of past achievements, but also a renewed commitment to fostering collaborations that accelerate AI's potential to solve real-world challenges, improving lives and building a more interconnected future. Through continuous innovation and partnerships, SenseTime aims to remain at the very forefront of the AI 2.0 era, shaping a world where technology empowers inclusive and sustainable progress.
About SenseTime
SenseTime is a leading AI software company focused on creating a better AI-empowered future through innovation. We are committed to advancing the state of the art in AI research, developing scalable and affordable AI software platforms that benefit businesses, people and society as a whole, while attracting and nurturing top talents to shape the future together.
With our roots in the academic world, we invest in our original and cutting-edge research that allows us to offer and continuously improve industry-leading AI capabilities in universal multimodal and multi-task models, covering key fields across perception intelligence, natural language processing, decision intelligence, AI-enabled content generation, as well as key capabilities in AI chips, sensors and computing infrastructure. Our proprietary AI infrastructure, SenseCore, integrates computing power, algorithms, and platforms, enabling us to build the "SenseNova" foundation model sets and R&D system that unlocks the ability to perform general AI tasks at low cost and with high efficiency. Our technologies are trusted by customers and partners in many industry verticals including Generative AI, Traditional AI and Smart Auto.
SenseTime has been actively involved in the development of national and international industry standards on data security, privacy protection, ethical and sustainable AI, working closely with multiple domestic and multilateral institutions on ethical and sustainable AI development. SenseTime was the only AI company in Asia to have its Code of Ethics for AI Sustainable Development selected by the United Nations as one of the key publication references in the United Nations Resource Guide on AI Strategies published in June 2021.
SenseTime Group Inc. has successfully listed on the Main Board of the Stock Exchange of Hong Kong Limited (HKEX). We have offices in markets including Hong Kong, Mainland China, Macau, Japan, Singapore, Saudi Arabia, the United Arab Emirates, Malaysia and South Korea, etc., as well as presence in Germany, Thailand, Indonesia and the Philippines. For more information, please visit SenseTime's official website or LinkedIn, X, Facebook and Youtube pages.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
SenseTime Celebrates a Decade of Innovation at the SenseTime 10th Anniversary Global AI Summit 2024
SenseTime Celebrates a Decade of Innovation at the SenseTime 10th Anniversary Global AI Summit 2024
SenseTime Celebrates a Decade of Innovation at the SenseTime 10th Anniversary Global AI Summit 2024
SenseTime Celebrates a Decade of Innovation at the SenseTime 10th Anniversary Global AI Summit 2024
