4 December 2014: The Asian Development Bank (ADB) has announced a “first-of-its-kind” service that will link low-carbon technology sellers with interested buyers in the Asian region. In its pilot phase, the ‘IPEx Cleantech Asia’ marketplace is expected to broker transactions worth approximately US$2-5 million, focusing on clean energy and energy efficiency technologies.

ADB expects that IPEx Cleantech Asia will benefit buyers such as manufacturers, project developers and governments as they seek companies, university laboratories or multinational firms selling innovative designs and intellectual property rights (IPR) for tested and up-and-coming technologies.

Bindu Lohani, ADB Vice-President for Knowledge Management and Sustainable Development, stressed the importance of accelerating the flow of low-carbon technologies to aid the region in its mitigation and adaptation efforts, noting that climate change impacts will be felt acutely in developing Asia.

ADB notes that many technologies Asia needs for climate change adaptation are available in developed countries, but there is a disconnect between developers of the technology and those who need it most. The tool will assist in technology transfer from developed countries as well as in transfers between developing countries.

The service will be managed by the Norwegian advisory firm DNVGL’s Clean Technology Center in Singapore in a joint venture with Singaporean clean energy investment banking and consulting firm ReEx Capital Asia. ADB, the Government of Japan, the Global Environment Facility (GEF) and the Flemish Institute of Technological Research (VITO) are providing the project’s initial financing, but it is anticipated that the venture will eventually become an independent business.

ADB launched the tool at a side event on 4 December 2014 at the Lima Climate Change Conference. The event, organized by ADB and The Energy and Resources Institute (TERI), discussed ‘Promoting Climate Technology Investment: Scenarios, Practice and Experience.’ [ADB Press Release] [DNV GL Press Release] [IISD RS Coverage of Lima Climate Change Conference]