AES Tech (CEO Jaehong Jeon), a startup developing ammonia electrolysis-based hydrogen production technology, has been selected for the "Pre-ICON" program, an innovative startup growth support program operated by the Korea Credit Guarantee Fund. With this selection, AES Tech will receive up to 3 billion won in guarantee support over the next three years.
Free Icon is a program that selects and supports financial management of startups with proven technological prowess, business viability, and growth potential among startups that have been in business for 2 to 10 years. The program aims to encourage companies to enter the market and scale up through guarantee support.
AES Tech was selected for Shinbo's early-stage startup support program, 'First Penguin', in 2022, and with this selection as a Free Icon, it has been officially recognized for its potential as a growth-stage company with follow-up support.
AES Tech is developing the ammoNOVA system, based on its proprietary ammonia electrolysis technology. The system boasts several technical features, including rapid operation, real-time hydrogen purity control, zero water and nitrogen oxide (NOₓ) emissions, and modular scalability. It is being evaluated as an alternative technology that can overcome the limitations of existing hydrogen production methods.
The company is advancing its technology with the goal of developing a 10 Nm³/h commercial prototype by 2025 and launching a 50 Nm³/h commercial module by 2027. Furthermore, the company is collaborating on catalyst and coating technologies through joint research with the Italian National Research Council (CNR) and electrode specialist De Nora.
Based on this guarantee support, AES Tech plans to steadily advance commercialization preparations, including research and development, equipment acquisition, and pilot projects.
Jeon Jae-hong, CEO of AES Tech, said, “Through this selection as a free icon, we have gained external recognition for our technological competitiveness and growth potential,” and “AES Tech’s technology, which can respond to various demand sources such as power generation, transportation, and industrial processes, will serve as a next-generation hydrogen supply platform.”
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