September 2021
CIC has not carried out any audit mission for nor commissioned any consultancy services with Ampd Energy Ltd. and there is no established relationship (financial or others) between CIC and Ampd Energy Ltd..
The opinion provided herein is an independent opinion on the sustainability credentials and management of the financial instrument, based on the information made available to CIC. CIC has neither interviewed any of the Ampd Energy Ltd.’s employees, nor performed any on-site assessment and tests to check the accuracy of the information provided by Ampd Energy Ltd.. The accuracy, comprehensiveness and trustworthiness of the information collected rests with Ampd Energy Ltd.. CIC, in providing this opinion, has not certified the effectiveness, the quality or the irreversibility of the assets to be financed by the sustainable financing instrument. Ampd Energy Ltd. is fully responsible for attesting the compliance with its commitments defined in its policies, for their implementation and monitoring. The opinion delivered by CIC neither focuses on the financial performance of Ampd Energy Ltd., nor on the effective allocation of its proceeds. CIC is not liable for the consequences arising if third parties use this opinion either to make investment decisions or to make any kind of business transaction.
The opinion provided by CIC on Ampd Energy Ltd. can only be used by Ampd Energy Ltd. and the Financial Institution. The distribution and publication are at the discretion of Ampd Energy Ltd., subject to CIC’s approval.
| Application no. | SFCS-APPLY-2021-015 |
|---|---|
| Certificate no. | SFCS-2021-011 |
| Date of application | 2021.12.10 |
| Company name | Ampd Energy Ltd. |
| Business registration no. | 63070222 |
| Company profile | Due to the limit of words counts, please refer to Application Form"Company Profile" section. |
| Sustainable financing instrument | Green Loan |
| Application level | Project Level |
Ampd Energy Ltd. has confirmed the proceeds will be used for the specified Project Categories that meet the eligibility criteria stated:
| Project Categories | Energy Efficiency |
| Eligibility Criteria | Supply and development of energy efficiency equipment, technology or product (Enertainer) that reduce energy consumption and GHG emission. Enertainer can be used in place of traditional diesel generator in construction sites to reduce carbon emissions and minimise on-site air quality impacts arising from electrification. It has a carbon footprint which is at least 80% less, is as much as 32 times quieter, emits zero diesel fumes, eliminates diesel handling and usage risks, has zero maintenance and refuelling downtime and is dramatically cheaper to operate. |
| Project Categories | Pollution Prevention and Control |
| Eligibility Criteria | Supply and development of equipment, technology or product (Enertainer) that reduce air emission in the construction site. A typical construction generator will produce the equivalent of around 200 cars of air pollutants. The Hong Kong grid (i.e. CLP / HKE) produces very little (basically zero) air pollutants. So, every Enertainer which Ampd deploys has the same impact as removing 200 to 400 cars from the roads, from an air quality perspective. |
Ampd Energy Ltd. has confirmed that the selected Project Categories and Eligibility Criteria are in line with the following internationally recognized frameworks across financial markets:
Frameworks
Ampd Energy Ltd. has also confirmed the following purposes of the proceeds:
Purpose of financing
Ampd Energy Ltd. has identified the below project(s) as eligible green projects which meet the eligible criteria:
| Project name | N/A |
| Location | N/A |
| Project description | N/A |
| Highlights of green elements and estimated environmental impact | N/A |
Ampd proposes to raise Green Loan for its Enertainer that fall into the Green Loan Principle project categories which are Energy Efficiency and Pollution Prevention and Control.
Ampd confirmed its Enertainer can be used in place of traditional diesel generator in construction sites to reduce carbon emissions and minimise on-site air quality impacts arising from electrification. The Enertainer was designed from the ground up to remove carbon, air quality and noise emissions from construction sites.
To ensure that the projects financed by the sustainable financing instrument meet the eligible criteria, Ampd Energy Ltd. has established an evaluation and selection process with the following key elements:
Evaluation and selection
The project evaluation and selection will be based on rental contract requirements, with clients. The evaluation process will be conducted in internal checking process by the Business Development & Marketing team and Supply Chain Management team and the result will be submitted to CEO for approval. The Finance and Accounting team will then transfer the cost from designated loan account to Ampd’s operating account and track the loan usage.
We consider that the applicant has well-defined internal checking procedures for project evaluation and selection.
Ampd Energy Ltd. has provided information regarding the internal governance process through which the company can track allocation of funds towards green projects. Ampd Energy Ltd. will establish a register of funds to contain the following information:
Information
Pending the full allocation of the proceeds, Ampd Energy Ltd. intends to hold and/or invest the balance of proceeds not yet allocated in accordance with n/a
Ampd confirmed that there is a dedicated account for the proceeds. Key transaction information, including transaction date, the principle amount of proceeds, repayment or amortisation profile, maturity date, and remaining amount will be recorded. The allocation of the proceeds will be tracked in the form of the submitted fund registry template.
Ampd will appoint its head of Finance Department for internal governance on proceeds management under the guidance of the bank
Ampd Energy Ltd. is committed to transparent reporting and will publish progress report within one year from the date of issuance of each sustainable financing instrument and annually thereafter until the full allocation of the proceeds. The report will consist of information on the allocation of the proceeds and the environmental impacts of the projects.
Allocation Report
In terms of impact reporting, Ampd Energy Ltd. will report on relevant environmental metrics of the projects to which the proceeds have been allocated in line with the technical requirements.
| Project Categories | Pollution Prevention and Control |
| Metrics | Annual GHG emission reduced/ avoided in tCO2e Amount of air pollutants reduced/ avoided (e.g., particular matter, carbon monoxide, sulfur oxides, nitrogen oxides) (tonnes) |
| Methodologies | Ampd Internal methodology |
| Project Categories | Energy efficiency |
| Metrics | Annual diesel reduced/ avoided in MWh and/or annual electricity powered by enertainer in MWh Net annual energy saved in MWh |
| Methodologies | Ampd Internal methodology |
We confirmed that Ampd has committed to continue to perform use of proceeds and impact reporting on an annual basis through progress report.
| Use of proceeds | Compliant |
|---|---|
| Project evaluation and selection | Compliant |
| Management of proceeds | Compliant |
| Reporting | Compliant |
Based on the above assessment, we recommend to approve the application (Application no.: SFCS-APPLY-2021-015, Certificate no.: SFCS-2021-011) of the CIC Sustainable Finance Certification Scheme with validity from 30-09-2021 to 29-09-2023 .