Industry Update: Korean Cleantech

In 2010, Seoul, South Korea, was named the world design capital for its efforts on greening the city.

Further advancing these efforts, state-run Korea Electric Power Corp (KEPCO) announced in early 2011 it would invest $7.18 billion in a smart grid by 2030 in an effort to curb the country’s CO2 emissions and improve the efficiency of their electricity market.

Although South Korea is ranked as the fastest-growing carbon polluter within the member countries of the Organization for Economic Cooperation and Development (OECD), it has been praised for its green technology efforts like turning landfills into hydrogen generators, constructing massive, 131-acre rooftop gardens, and lining highways with solar panels…

Helping to accomplish green initiatives like these is CleanTech Korea.

CleanTech Korea is currently an unincorporated association that consolidates Korean cleantech companies under one global umbrella through the GCCA, thus creating a high-powered revenue-generating capable network.

CleanTech Korea reviews Korean cleantech companies, nominates them for GCCA competitions, and grants them access to a network gateway of financial capital, B2B partners, and global marketing.

Currently there are two CleanTech Korea member companies nominated for the GCCA Later Stage Award, both in the solar category…

Astroenergy specializes in cutting-edge research and the development and production of solar modules including monocrystalline modules, polycrystalline modules, and high-efficiency a-Si/µc-Si tandem junction thin film modules.

In collaboration with its parent company, the Chint Group, Astronergy also provides complete BOS components including inverters, array combiner boxes, DC protection, AC protection, and transformers. This has enabled the company to become first in the industry to provide customizable PV solutions to satisfy a variety of photovoltaic needs — all from a single source.

Astroenergy has partnered with organizations around the world including the United States, China, Australia, Germany, Spain, and Korea.

Semi-Materials is dedicated to developing PV-relevant materials, parts and equipment; it now forges ahead with innovative new technologies and pioneering markets.

Since its founding in 2000, the company has been recognized by both local and global businesses as one of the key players in green energy market.

Not only is Korea advancing in the smart grid and solar sectors, but is also among the the Top Ten Wind Cleantech Programs in the world, as noted by one of GCCA’s founders, Shawn Lesser.

The Taegisan Wind Farm Project is part of a national plan to promote green growth and lower carbon emissions. The Project commenced in 2008 and has since provided enough wind energy for more than 25,000 households, as well as decreased overall carbon emissions by more than 60,000 tons per year.

To fund this program and expand it, South Korea has looked for multiple investments, including the 2009 loan provided by Japan’s Mizuho Corporate Bank that covered approximately 60 percent of the expansion costs.

Until Next Time,

Angela Guss

Consolidating Korean Cleantech Companies originally appeared in Green Chip Stocks. Green Chip Review is a free 2x-per-week newsletter, is the first advisory to focus exclusively on investments in alternative and renewable energies.

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