GE to launch Innovation Challenge with Taoyuan City Government and Taiwan Power Company to help address energy challenges

Taiwan: GE (NYSE: GE) today announced the launch of an open Innovation Challenge to call for ideas on how to address power challenges in Taiwan, in line with the government’s goals to strengthen energy reliability and sustainability towards a low carbon future in the country. The challenge, in partnership with Taoyuan City Government and Taiwan Power Company, is GE’s first in Asia, and will award over NT$1 million to the winning ideas that will target opportunities to increase electricity supply and work towards the decarbonization of the power sector or reduce energy demand and consumption.

Taiwan ranked No. 57 in Climate Change Performance Index 2021 (CCPI 2021), which rated 61 countries, suggesting there is a lot of room for improvement in terms of offsetting greenhouse gases and introducing renewable energy. As noticed by the Deputy Mayor of Taoyuan City, Gao An- Bang, “Taoyuan City Government has spared no effort in bringing about energy transformation and lower-emission energy development. I would like to thank GE for introducing advanced power equipment and technology, which helps meet electricity demand and accelerates Taiwan’s energy transformation. We hope to work with GE through the Innovation Challenge towards a brighter future for the environment and energy sustainability in Taiwan.”

In 2019, the proportion of gas-fired power generation has surpassed coal-fired power generation and became Taiwan’s most important power source. TPC has been supporting Taiwan’s energy transformation with GE’s technologies and natural gas power to help reach the goal of 50% natural gas power generation and 20% renewable energy by 2025. “We expect that the GE Innovation Challenge will bring about more energy solutions and encourage the next generation to care more about Taiwan’s energy issues,” said TPC President, Chung Bin-li, who declared his support for the challenge. “Let’s create a better future for this beautiful island.”

As efforts to address climate change pick up pace around the world, GE continues to help countries globally reduce carbon emissions through the deployment of technology and solutions such as it’s world-record setting HA technology. In addition, GE works with policy makers, industry experts, academia and other key stakeholders to support countries strengthen their ecosystems with better policy reform, research and development, and the right market structures. Says Country Manager of GE Gas Power, Wu Ta-an: “We have rolled out open Innovation Challenges throughout the world in collaboration with partners to address local challenges. We believe in the importance of looking beyond our four walls to tap into the “global community” to crowdsource for ideas. As we are impressed by the quality of talent and innovation here in Taiwan, we chose to launch our first open challenge here in Asia, to draw on the country’s brightest minds to support the Taoyuan City government’s goals of building a cleaner, more environment friendly and sustainable global village.”

The Innovation Challenge invites participation from industry experts, academia, as well as the youth from Taiwan and abroad. Comprising of two categories, the elite and student groups, winners of each category will be granted a cash prize to further develop their ideas: first place winner will receive NT$250,000, second place will receive NT$150,000, and third place will receive NT$100,000. In addition, a special prize of NT$10,000 each will be awarded to 10 students. Any prize monies paid out may be subject to deductions for tax as required by local laws

Participants can submit their ideas on the website https://www.ge.com/power/en/tw/taiwan-innovation-challenge before the closing date of August 31st. Throughout the submission period, GE together with its partners will conduct workshops to further promote the challenge and provide guidance to interested applicants. The challenge will also feature an illustrious judging panel from the academic and research communities such as Chiang Ching-tsan, Dean of Electrical Engineering and Computer Science College, Chien Hsin University of Science and Technology; Lee Chun-yao, Associate Professor, Department of Electrical Engineering, Chung Yuan Christian University; and Chung Nien-mien, General Manager of Taiwan Power Research Institute, Taiwan Power Company.