EcoCeres, an eco-friendly biofuel company and green unicorn incubated by HK & CHINA GAS (00003), is reportedly considering an IPO in Hong Kong instead of London, with a potential listing as early as the second half of 2026. Sources indicate that EcoCeres may pursue a primary listing in Hong Kong, followed by a potential secondary listing in the future.

Founded by HK & CHINA GAS and partially acquired by Bain Capital in 2023, EcoCeres specializes in converting biomass waste into sustainable aviation fuel, hydrogenated vegetable oil, renewable naphtha, and cellulosic ethanol. Earlier reports in January suggested the company was exploring a European listing, with London as a potential venue, aiming to raise $500 million to $1 billion at a targeted valuation of around $5 billion.