Connected Capital Co-Hosts Investors'​ Green Energy Round Table

Published on October 22, 2019

Alongside colleagues from British Chamber of Commerce Korea, Incheon Free Economic Zone (IFEZ) South Korea, Lazard Asset Management, Renewable Energy Association (REA), UK Department International Trade, UK & British UK Energy Businesses.

Hosted at: Institute of Directors (IOD), 116 Pall Mall, London.

In September 2019 the vital first step was taken in creating a strategic global partnership to turn a thrilling vision of a sustainable future into solid reality in one of the world’s most dynamic business hubs.

Hosted in London by the alternative investment boutique Connected Capital which specialises in connecting institutional investors with green, sustainable business opportunities, the Incheon Free Economic Zone (IFEZ) in UK Clean Energy Round Table brought together senior executives and stakeholders from Korea and the UK to discuss a major building and transportation infrastructure project that would positively transform the lives of millions of people for decades to come.

Co-organising the Round Table, the British Chamber of Commerce in Korea (BCCK) represents British, international and Korean companies with significant commercial interests in Korea, works with the UK government to promote UK trade, commerce and investment in Korea, and nurtures business development between Korean and British companies. For the BCCK, Mr Sungji Moon, Manager of Trade & Policy, was in attendance.

Home to 11 of the Fortune Global 500 Companies, the Incheon Free Economic Zone (IFEZ) is South Korea’s most successful foreign investment zone and a fast-growing global business hub close to Incheon International Airport, and a short drive from the capital Seoul. Currently outstanding in automotive and biotech, IFEZ also seeks to attract high-tech companies in IT, renewable energy, artificial intelligence and aerospace. Building on its automotive strength, IFEZ is keen to boost its clean energy and electric vehicle sectors, recently attracting an electric truck manufacturer and currently developing the related supply-chain ecosystem.

Leading a senior IFEZ team at the Clean Energy Round Table including Mr Jong Hak Beak, Ms Sunok Shim, Mr Namgung Weon and Mr Taehee Kim, IFEZ Commissioner Mr Wonjae Lee outlined the Zone’s clean energy needs and strategy.

To address these and related needs, Connected Capital brought to the Clean Energy Round Table a consortium of key relevant UK stakeholders, led by the Renewable Energy Association (REA), represented by Policy Manager, Mr Daniel Brown. The REA is the UK’s largest trade association for renewable energy and clean technologies, representing over 500 companies operating across heat, power, and transport. The REA helps its members build commercially and environmentally sustainable businesses.

Mr Brown briefed the round table on the UK renewable energy market and the journey towards subsidy-free generation. He gave an overview as to how the decarbonisation of Britain is governed, and the interim steps the Government and industry must take to achieve Net Zero by 2050. In 2018 around one third of power generation came from renewable sources, the country has a rapidly growing and innovative energy storage sector and has the largest offshore wind energy generation infrastructure in the world which is considered a major success story.

Daniel additionally gave insight into the UK’s electric vehicle charging market, including on new proposed regulation and business model development. The business model analysis was derived from independent work conducted by Aurora Energy Research in 2018, found here.

Subsequently, two UK businesses made key presentations.

To help the UK’s energy infrastructure keep pace with fast-growing electric vehicle adoption, EV Hub has flourished since its 2016 launch to provide a UK-wide network of electric vehicle charging hubs, and was represented at the round table by Directors Mr Per Regnarsson and Mr Simon Lloyd.

To address the IFEZ need for sustainable residential housing to accommodate a growing population, the business case was put Mr Thomas McKenna, CEO of R&M Modular Housing, a UK leader in the construction of green, sustainable homes and commercial buildings.

Also present were Mr Rupert Hope, Portfolio Manager of Lazard Asset Management, and Mr Francis Iyayi, specialist in projects and infrastructure at global law firm K&L Gates.

A highly productive meeting of vision, investment and technological expertise, the Incheon Free Economic Zone (IFEZ) in UK Clean Energy Round Table heralds the next step as IFEZ Senior Executive Management consider the proposed key initiatives.

These include the co-ordination of global and local finance and local partnerships to deliver EV Hub and sustainable housing pilot projects in the Incheon Free Economic Zone.

This being the first, Connected Capital will be holding quarterly forums going forward.