NGM, a research institute company of Pukyong National University, has successfully attracted large-scale investment from the Small and Medium Business Corporation (SBC).
NGM, founded in 2014 by CEO Kwon Hansang, is the predecessor of the Next Generation Materials research institute and develops high-performance heterogeneous composite new materials.
NGM attracted investment from SBC by acquiring redeemable convertible preferred shares, recognized for its technology to develop new materials that significantly enhance functionality by compounding nano-reinforcement particles into powder forms of metals, non-metals, ceramics, and other materials.
The amount of SBC’s investment was undisclosed, but according to Pukyong National University, it is known to be a considerable level for a single research institute company started from a university.
NGM received 2 billion KRW in support in 2018 through the Korea Technology Finance Corporation’s ‘University Technology Commercialization Support Platform’ project, followed by an additional 1.5 billion KRW in subsequent investment. In 2021, it was valued at 26.5 billion KRW and attracted 1.5 billion KRW in common stock investment from a global automotive parts company.
The new materials developed by NGM exhibit superior properties when combining or compounding the characteristics of each material, earning recognition from related industries for their significant impact when applied as industrial hybrid materials.
For example, when aluminum and copper are compounded, the resulting new material weighs and costs half as much as copper but has twice the heat dissipation of aluminum. Unlike conventional alloys that slightly improve material properties, NGM’s technology creates new materials that possess all the properties of each constituent material.
These new materials are recognized for their broad applicability in high value-added industries such as lightweight and high heat dissipation materials, electric vehicle frames, materials and components for automation and energy storage devices, semiconductor test sockets, and electronic device materials and components.
Recently, NGM signed material and component development contracts with several global companies and technology transfer contracts worth several hundred million KRW, and succeeded in exporting $100,000 in the first half of this year. Patent usage and intermediate product production agreements for full-scale commercial product manufacturing are also under negotiation with domestic and international companies.
CEO Kwon said, “Following significant support during the early growth phase through the university’s industry-academia-research cooperation complex project and LINC 3.0 project, we plan to move forward with commercial product production based on this investment.”
He added, “We will strive to create high value-added industries with technology developed at the university and to become a Korean materials and components company active in the global market.”
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