EcoCeres to invest HK$10 billion in sustainable aviation fuel plants in Greater Bay Area
Backed by tycoon Peter Lee's family office, this project cuts aviation emissions by 80%
EcoCeres, a Hong Kong-based renewable fuel producer backed by the family office of tycoon Peter Lee Ka-kit (chairman of Henderson Land Development and Towngas), has announced plans to invest HK$10 billion (US$1.3 billion) in sustainable aviation fuel (SAF) production plants in the Greater Bay Area over the next five to 10 years. The first plant will be built in Dongguan, leveraging the city's mature chemical industry parks, logistics infrastructure, and steady supply of used cooking oil—the essential raw material for SAF. Hong Kong Chief Executive John Lee Ka-chiu described the venture as a 'milestone' and 'an excellent example of synergy of the two places,' aligning with Beijing's 15th five-year development plan (2026-2030).
SAF is a drop-in renewable fuel that reduces life cycle emissions by up to 80% compared to conventional jet fuel and can be blended with existing jet fuel without engine modifications. The project highlights Hong Kong's role in providing global finance, professional services, and research capabilities, while Dongguan offers industrial parks, logistics, and raw materials. This collaboration could significantly scale SAF production in Asia, supporting the aviation industry's decarbonization goals and positioning the Greater Bay Area as a hub for green energy innovation.
- EcoCeres will invest HK$10 billion (US$1.3 billion) over 5-10 years in SAF plants in the Greater Bay Area.
- The first plant in Dongguan will use used cooking oil as feedstock, cutting lifecycle emissions by up to 80%.
- Hong Kong's leader hailed the project as a milestone cross-border collaboration aligning with China's 15th five-year plan.
Why It Matters
This investment scales SAF production in Asia, enabling aviation to cut emissions while fostering cross-border green energy cooperation.