Lee Family Green Hydrogen Investment Secures DBS Financing Support

A Lee family green hydrogen investment initiative has secured financing support from DBS Bank for clean energy projects developed by Hong Kong utility Towngas.

The company, controlled by billionaire brothers Peter and Martin Lee, signed a memorandum of understanding with DBS Bank's Hong Kong subsidiary covering potential loans for hydrogen production and other clean energy developments.

The arrangement represents Hong Kong's first financing programme dedicated to local green hydrogen projects.

Neither company disclosed the proposed financing amount or lending terms.

One project involves converting biogas generated from landfill waste into hydrogen at the South East New Territories Landfill Extension in Tseung Kwan O.

The initiative supports Hong Kong's efforts to develop alternative energy sources and expand clean energy infrastructure.

According to Forbes, the Lee family ranks second among Hong Kong's wealthiest families, with a combined fortune of USD34.9bn.

The agreement highlights opportunities for wealthy family-controlled businesses to participate in energy transition projects through partnerships with major financial institutions.