AES Tech Secures 4 Billion KRW to Advance Clean Hydrogen Production Technology

AES Tech, a Korean eco-friendly energy technology startup, has secured 4 billion KRW in Pre-Series A funding. This round of investment was led by Schmidt, a subsidiary of DSC Investment, with new investors including L&S Venture Capital, Intervest, Leverage, and Dankook University Technology Holdings. AES Tech is an eco-friendly energy company that develops systems to produce clean hydrogen by electrolyzing anhydrous ammonia. By leveraging its patented technology to provide stable hydrogen energy, AES Tech contributes to reducing greenhouse gas emissions. The company is gaining attention in the energy industry for its green solutions and aims to lead the eco-friendly energy market with its innovative technology.

The potential and growth prospects of AES Tech’s prototype product, developed prior to commercialization, were recognized, leading to this investment. Notably, AES Tech’s ammonia electrolysis method offers high energy efficiency and cost competitiveness. Traditional ammonia decomposition methods, such as thermochemical decomposition, produce nitrogen oxides during the process, polluting the atmosphere and incurring higher costs due to lower energy efficiency.

AES Tech’s patented electrolysis method can produce high-purity hydrogen at a low cost, making it suitable for various applications, including large-scale overseas hydrogen production plants, hydrogen cities, on-site hydrogen refueling stations, and ammonia-hydrogen mobility. This is expected to promote the development of the hydrogen economy and the growth of the eco-friendly mobility industry.

AES Tech stated that the investment funds will be used for production facilities and product research and development to commercialize its clean hydrogen extractors. The funds will be allocated to building a plant in Wanju, North Jeolla Province, scaling up hydrogen production, conducting demonstrations, and engaging in joint R&D overseas.

L&S Venture Capital remarked, “We see AES Tech’s potential in its clean hydrogen production technology. We support the company in advancing its technology to successfully commercialize the hydrogen extractor.”
Jeon Jae-hong, CEO of AES Tech, said, “In addition to the necessity of renewable energy to replace conventional thermal energy, the growing demand for renewable energy to supply additional power to AI data centers has increased the environmental and societal requirements for renewable energy supply. Countries like the U.S., Saudi Arabia, and India are constructing ammonia production plants with a target for commercial operation by 2030, and over 20 orders have been placed for very large ammonia carriers (VLACs) to transport the produced ammonia, indicating that the ammonia ecosystem is progressing faster than the 2050 Net Zero goal.” He added, “Through this investment, we will accelerate R&D and global market entry to rapidly commercialize our technology, which is more eco-friendly, efficient, and cost-effective than other hydrogen extraction technologies.”

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