Responding to Future Industrial Power Demand Increase... Cooperation to Revitalize Energy Sector Venture Ecosystem
Expanding Investment in Innovative Venture Companies in Power and Energy Sectors
On the 6th, at the 'BIXPO 2024' held at the Gwangju Kim Dae-jung Convention Center, Korea Development Bank announced that Chairman Kang Seok-hoon of Korea Development Bank and President Kim Dong-chul of Korea Electric Power Corporation signed a memorandum of understanding on 'Mutual Cooperation to Support Innovative Companies for Fostering Future Energy New Industries.'
Amid the surge in electricity demand due to future industrial growth such as the establishment of new AI data centers and semiconductor clusters, and the expansion of electric vehicles, building a stable power supply network has emerged as a critical national task. The two organizations agreed to strengthen mutual cooperation to discover and nurture innovative venture companies in the energy sector, including next-generation power grids and SMRs.
Korea Development Bank plans to expand investments in promising venture companies, while Korea Electric Power Corporation will actively cooperate to help energy venture companies with promising technologies grow rapidly by supporting technology commercialization using its own infrastructure.
Chairman Kang Seok-hoon emphasized the importance of discovering and nurturing creative and innovative ventures and startups in the energy industry to build a sustainable national energy system, stating, "Through this agreement, we expect significant synergy from the combination of investment and technology commercialization, which will revitalize the energy venture ecosystem. We will actively support the emergence of energy unicorn companies with global competitiveness in the future."
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