AES Tech Secures Funding to Revolutionize Clean Hydrogen Production in Korea
Key Ideas
- AES Tech, a Korean startup, secures 4 billion KRW in funding led by Schmidt for its clean hydrogen production technology.
- The company's electrolysis method offers high energy efficiency and cost competitiveness, positioning it well for various applications in the eco-friendly energy industry.
- The investment will be used for production facilities and R&D to commercialize clean hydrogen extractors, contributing to the growth of the hydrogen economy.
- AES Tech aims to advance its technology to meet the increasing demand for renewable energy, aligning with global efforts towards a more sustainable future.
AES Tech, a Korean eco-friendly energy technology startup, has successfully secured 4 billion KRW in Pre-Series A funding to advance its clean hydrogen production technology. The investment round was led by Schmidt, with participation from notable investors like L&S Venture Capital, Intervest, Leverage, and Dankook University Technology Holdings.
AES Tech specializes in developing systems for clean hydrogen production through the electrolysis of anhydrous ammonia. Their patented technology enables the stable production of high-purity hydrogen, contributing significantly to reducing greenhouse gas emissions. The company's commitment to green solutions and innovative technology has garnered attention in the energy industry, positioning it as a leader in the eco-friendly energy market.
The investment will support AES Tech in scaling up its production facilities, conducting demonstrations, and engaging in joint R&D initiatives overseas to commercialize its clean hydrogen extractors. This strategic move aims to promote the growth of the hydrogen economy and the eco-friendly mobility industry by offering efficient and cost-effective solutions for various applications.
AES Tech's CEO highlighted the increasing global demand for renewable energy, emphasizing the importance of advancing technology to meet these requirements. With countries like the U.S., Saudi Arabia, and India investing in ammonia production plants, AES Tech aims to accelerate its R&D efforts and global market entry to swiftly commercialize its eco-friendly and efficient hydrogen extraction technology.
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