Hong Kong private-equity manager, Templewater, sees significant opportunities in connecting Asia’s fast-growing electric vehicle (EV) and energy-storage industries with Middle Eastern markets seeking clean-energy solutions as the region shifts away from oil reliance.

Templewater, which this month held a signing ceremony in Hong Kong with Omani sovereign wealth fund Future Fund Oman for the launch of Oman’s first Energy Transition Fund, believes the fund will appeal to investors aiming to tap into Asia’s clean-energy growth story.

Yufeng Wan, partner and head of energy transition at Templewater, said battery technologies, core components and specialised EVs such as self-driving logistics vans were already a strong investment focus in Asia.

He said the entire energy-transition supply chain – from solar and wind to batteries and EVs – was a “growing” segment.

“We continue to see strong and rising interest from investors in this space”, which was delivering strong financial rewards, he added.

The fund, with initial capital of US$200 million, is expected to scout, cultivate and bring to Oman Asian companies focusing on clean molecules, energy storage, e-fuels, smart mobility, renewables, and green data centres over the next decade.

The Omani sovereign wealth fund would serve as the cornerstone investor, committing US$100 million into the Energy Transition Fund, according to Wan.