Towngas Lifestyle gets strategic funding to speed up expansion plans

The funding round was led by investment firms Oriza FOFs and FountainVest. 

Towngas Lifestyle, a wholly owned subsidiary of The Hong Kong and China Gas Company Limited (Towngas), secured strategic funding to accelerate its business expansion, enhance product competitiveness, and strengthen its AI and IoT platform capabilities.

The investment was jointly led by investment institutions Oriza FOFs and FountainVest. Towngas Lifestyle said this will bring them extensive industry experience and a broad network of resources.

“We earned reputation and market share in Hong Kong through customized gas appliances and professional services, serving nearly 120 million people,” said Peter Wong Wai-yee, Managing Director of Towngas. “We look forward to providing more families with our products and services.”