HD Hyundai Electric announced on the 12th that it has selected nine startups for the first batch of its open innovation program, 'PowerUp HDE', to secure next-generation power technology.
'Power Up HDE' is a program that discovers and nurtures promising startups to respond to the increasing global demand for electricity and changes in industrial structure. It is jointly operated by deep tech accelerator Blue Point Partners and global open innovation platform Plug and Play.
A total of 113 teams applied for the first round of domestic team selection, resulting in a competition rate of 19 to 1. The program focused on startups with potential for technological innovation in key areas of the future power industry, including next-generation power technology, eco-friendly energy, and digital transformation.
The overseas team selection process targeted global energy startups seeking proof-of-concept (PoC) and partnerships with HD Hyundai Electric. HD Hyundai Electric executives and staff attended the Plug and Play Silicon Valley Summit in June, where they pitched their technologies and held individual meetings. After a comprehensive review of technological suitability and business relevance, three overseas startups were selected.
The final selected companies are ▲Easy Korea, a current sensor company for electrical accident predictive maintenance ▲POEL, a company with radiant cooling-based power-free cooling technology ▲Zerk, a company with thermal management solutions for power equipment ▲SCS, a company with AI control-based thermal management systems ▲EverIndus, a company with sodium-ion batteries and ESS technology ▲Bigarage, a company with drone-based inventory and facility inspection ▲XL Batteries (USA), a company with flow battery technology ▲Novity (USA), an AI and IoT-based predictive maintenance company ▲Ionate (UK), a company with power conversion-linked control technology, for a total of nine companies.
Selected companies will be provided with a five-month, PoC-focused accelerator program. They will conduct validation studies in real-world business environments with a dedicated HD Hyundai Electric task force (TF). They will receive support including development funding, access to in-house testbeds and engineering infrastructure, joint development opportunities, follow-up investment, and long-term partnership considerations.
Bluepoint Partners oversees the entire process of selecting and accelerating domestic startups, while Plug and Play supports global startup discovery, overseas technology verification, and collaboration.
Kim Young-ki, CEO of HD Hyundai Electric, said, “Collaboration with startups is important to respond to the changing environment of the electric power industry,” and added, “We will continue to provide support so that technologies and ideas can be implemented in actual industrial settings.”
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