Singapore Launches S$143 Million Industrial Decarbonization Fund

The Government of Singapore launched a S$143 million funding initiative on October 23 to accelerate the research, development, and commercialization of low-carbon technologies for heavy industries. This represents the city-state's largest single funding effort for industrial decarbonization to date, targeting carbon capture, carbon utilization, and the electrification of industrial heating.

Of the total allocation, S$100 million supports a co-funding program for company-led projects in partnership with public research institutions, covering up to 75% of costs. The remaining S$43 million is dedicated to research institutes. The program is led by the Economic Development Board and the Advanced Energy and Decarbonisation Office to support the national goal of net-zero emissions by 2050, as industries currently account for approximately 65% of total emissions.

As part of the rollout, the government broke ground on a S$62.5 million Low-Carbon Technology Translational Test Bed on Jurong Island. This facility will allow companies including Amogy, IHI, and Metha8 to test-bed hydrogen and aviation fuel technologies. Deputy Prime Minister Gan Kim Yong emphasized that the transition must be managed so that industries remain competitive while reducing emissions.