Korea Environment Corporation to hold competition to discover and nurture promising technologies and business models

An aerial view of the National Battery Circulation Cluster in Nam-gu, Pohang, North Gyeongsang Province [Korea Environment Corporation]
An aerial view of the National Battery Circulation Cluster in Nam-gu, Pohang, North Gyeongsang Province [Korea Environment Corporation]

The Korea Environment Corporation, an agency under the Ministry of Climate, Environment and Energy, announced Monday it will launch two initiatives to support the used battery recycling industry: the "K-Battery Innovation Voucher Support Project" and the "K-Battery Scale-Up Challenge."

The K-Battery Innovation Voucher Support Project helps companies commercialize their technologies by providing access to pilot research facilities at the National Battery Circulation Cluster and connecting them with external institutions. This year, the program will select around 20 companies and award each a voucher worth up to 10 million won (about $6,510).

The vouchers come in two types based on intended use: a "cluster facility and equipment voucher," which covers usage fees for the cluster's facilities and analytical services, and a "commercialization support voucher," which subsidizes costs for pilot testing, technical assistance and consulting through external specialist organizations.

The K-Battery Scale-Up Challenge is a competition to identify and develop promising technologies and business models in the used battery resource circulation sector. Five outstanding companies will be selected to receive prize money, commendations and commercialization support vouchers.

Among companies selected in Phase 1 of the challenge, the grand prize winner will receive 2 million won in prize money, an 8 million won voucher and the Minister of Climate, Environment and Energy Award. The excellence award winner will receive 1 million won and a 6 million won voucher, while merit award winners will each receive 500,000 won, a 2.5 million won voucher and the Korea Environment Corporation President's Award.

Winning companies will also receive bonus points during the Phase 2 selection evaluation held the following year, ensuring continued support for their growth.

Companies wishing to participate in either program may apply by email through July 3. Further details are available on the National Battery Circulation Cluster website and in the notices section of the Korea Environment Corporation website.

"This project was designed to help innovative companies in the used battery resource circulation sector turn their outstanding technologies into commercial ventures," said Moon Gap-saeng, the corporation's director of resource circulation. "We will actively support promising startups and small and medium-sized enterprises working in used battery recycling."


thlee@heraldcorp.com