South Korean EV charging solutions company Moderntec shares 80% domestic E-Bus charging market and secures 15 billion won investment from J & Private Equity

신태섭 기자l승인2022.04.25l수정2022.04.25 13:48






▲ Moderntec / CEO Sungdu Kim

Lack of EV Charging Infrastructure
Global number of electric vehicles has reportedly reached to 6.66 million, a two fold increase on last year. One issue regarding this rapid growing of the market is that there is not sufficient infrastructure backing it up. In South Korea, around 170,000 EVs are registered as of June 2021 but number of charging stations are a total of 72,105 only. The government has announced to ban fossil fuel cars from 2035 and is working on installing more than 500,000 charging stations by 2025. While EV makers home and abroad are competing to take better positions in the market, EV charging station builders are rising fast in the center of the market with cutting edge technologies and systems. 

At the Korea Smart Grid Expo 2022 held at COEX Seoul last month, companies equipped with advanced eco-friendly charging solutions boasted their brainchilds. Among many companies, Moderntec attracted a great attention and wow. 

World's First Powerbank-Dispenser Charger
Moderntec wowed industry experts and visitors alike with its world's first Powerbank-Dispenser Charger. Loaded with a power distribution controller, it optimizes usage of power without contract demand. In the case it must need contract demand, Powerbank-Dispenser is designed to install up to 50 dispensers per unit generating only the simple installation fee which is far more economic than any other existing charging systems. Powebank works on automated multi-distribution power system. In other words, one unit of Powerbank charges several EVs simultaneously. For example, if the contract demand is 500kW, it distributes the power within 500kW. When the power goes over 500kW, it automatically goes into standby while still charging EV or EVs complete its feeding and then Powerbank resumes the charging. Compared to the existing charging systems, it truly is innovative.

World's First Multi-Functioning Robot Arm Charger
Apart from the world's first Powerbank-Dispenser Charger, Moderntec boasts a number of equally innovative charging technology systems: sequential charging, multi level charging, gun changing, robot arm charging and vehicle to grid. The multiple robot arm charger also is the world's first in its kind according to an official of the company. It is controled manless and moves around following the rails to carry out not only the charging but detecting the model of the vehicle, parking condition and the location to start charging. This robot arm charger received explosive reactions at the fair and industry experts confidently predicted that it would open a new era of EV charging system. An official of Moderntec estimates that around 800,000 EVs will benefit from this automated charging robots. It takes only 30 seconds for a robot arm charger to detect an EV and located the charger into the slot. One unit of this robot arm charger can charge up to 10 EVs for 2 hours simultaneously. 

Vehicle to Grid
Vehicle to grid, on the other hand, is a technology that uses EVs as power storages. Using V2G enables bothway charging like vehicle to home and vehicle to building. In other words, EV owners can make profits by transmitting power to other EVs or devices. Amazing! Moderntec has developed original technologies for V2G long time ago and already running two V2G-friendly EV charging stations in Busan Eco Delta City and in Jeju Energy Corporation. 

Business Prospects
Not surprisingly, Moderntec takes 80% share in the domestic E-Bus charging market which means the company has secured better economy and safety than anyone else in the field. The company is growing twice the sales every year. Promising still is that J & Private Equity decided to invest in Moderntec 15 billion won ($12 million) last month. 

Sungdu Kim, CEO of Moderntec, says "We are actually being ruined by surging inquiries from the US, Europe and South East Asia at the moment. Not complacent, however, we will stick to the gun to roll our hard earned charging technologies smooth and nice. It is our goal to grow Moderntec as a leading global EV charging system solutions company." <PowerKorea>

PowerKorea is an official partner of Herald Corporation and the magazine is distributed to the KOTRA business centers in the world. We publish latest news of Samsung, Hyundai and government affairs and endeavor to serve as a platform to engage with people around the world. 

신태섭 기자
<저작권자 © 월간파워코리아, 무단 전재 및 재배포 금지>

신태섭 기자의 다른기사 보기
가장 많이 본 기사
㈜뉴스앤매거진 파워코리아 대표 백종원  |   서울특별시 광진구 중곡동 162-3번지 2층  |  대표전화 : 02-466-5085  |  팩스 : 02-444-0454
대표메일/제휴광고문의 :  |  개인정보관리책임자 : 백종원(  |  사업자등록번호 : 591-87-01957
청소년보호책임자 : 백종원
Disclaimer: PowerKorea makes an article based on the information of products and/or services provided in paper and/or in interview by the company, the organization or the person that is solely responsible for the information.
Copyright © 2008 - 2024 월간파워코리아. All rights reserved.