Daejeon City Selects 3 Leading Energy Convergence Industry Companies... 100 Million Won Support Each

P&PEnergyTech in Hydrogen Sector, KAT in Nuclear Fusion Sector, SN in Renewable Energy Sector

About 20 people, including Jang Hojong, Vice Mayor of Economy and Science of Daejeon, and company representatives, attended the kickoff briefing held at the D-Unicorn Lounge (Shinsegae Expo Tower). / Daejeon City

Daejeon City announced that it held a kickoff meeting for the ‘2024 Energy Convergence Project’ by selecting three promising leading companies to foster future energy industries such as hydrogen, nuclear fusion, and renewable energy sectors.

The companies selected to promote the Energy Convergence Project this year are PNP Energy Tech Co., Ltd. in the hydrogen sector, KAT Co., Ltd. in the nuclear fusion sector, and SNE Co., Ltd. in the renewable energy sector.

Until last year, the city supported companies with up to 50 million KRW per company regardless of the business sector, but starting this year, it will increase support to 100 million KRW per company, totaling 300 million KRW, aiming to nurture regional anchor companies in the future energy sector.

To ensure successful project implementation and completion by the end of this year, companies are required to hire dedicated personnel, which will also help create local jobs in the energy sector.

Jang Ho-jong, Deputy Mayor for Economy and Science of Daejeon City, stated, “Hydrogen and nuclear fusion energy are important alternative energy sources of the future that can respond to increasing energy demand and the serious climate change crisis. We will continue to expand support to discover promising local companies and achieve positive effects such as increased sales and employment.”

Meanwhile, since 2019 until last year, Daejeon City has selected 57 local energy companies and has been promoting projects to strengthen energy convergence competitiveness by supporting prototype production and technology development costs.