South Korean state utility Kepco has launched a technology-commercialization subsidiary aimed at bringing thousands of its patents to market, with domestic solar-inverter manufacturers among the first industry partners.
Korea Electric Power Corp. (Kepco) has launched a wholly owned technology-commercialization subsidiary, Kepco Technology Holdings, according to the South Korean Ministry of Climate, Energy and Environment said.
Kepco contributed an initial KRW 20 billion ($14.4 million) in capital and plans to increase cumulative funding to KRW 100 billion over five years through annual KRW 20 billion contributions.
The subsidiary is intended to connect more than 8,000 Kepco patents and other public-sector energy research, including from the Korea Institute of Energy Technology (KENTECH), with startups and energy-technology companies. Its planned activities include technology transfer, direct equity investment, joint-venture formation, and the use of Kepco’s infrastructure and operational data for demonstration projects, followed by a scale-up fund for companies as they mature.
Kim Sung-hwan, minister of climate, energy and environment, said the company should serve as a growth platform connecting publicly accumulated technologies with the market and turning corporate ideas into new industries. He added that it could help foster Korean energy “unicorns” and strengthen the country’s position in global energy and green industries.
