As the development of renewable energy to replace fossil fuels is rapidly expanding, REC’s Innovation (CEO Jungmin Lim), a company specializing in renewable energy, is attracting attention with its unique technology.

Renewable energy is energy that uses renewable energy sources such as sunlight, water, wind, and geothermal heat to build a sustainable energy supply system.

Naju, South Jeolla Province, where KEPCO is headquartered, is a state-owned Jiangsu R&D zone designated by the Ministry of Science and Technology, and is known as the Energy Valley, where excellent Jiangsu research companies in the renewable energy field are gathered. REC’s Innovation, located here, has achieved unparalleled results in the renewable energy industry, including small power plants, based on its outstanding technology.

The company is focusing on the development and distribution of green energy with awareness and responsibility for the climate crisis. It stands out in the field of renewable energy with its unique technology and innovative ideas, strengthening its position as a leader in the domestic and international renewable energy markets.

 

Securing technology by carrying out R&D tasks for public institutions

REC’s Innovation focuses on research and technology development for sustainable energy generation in response to environmental issues and the climate crisis. The company, which was established in 2021, has successfully carried out various tasks and secured technology through cooperation with public institutions such as the Ministry of Science and Technology and KEPCO (KEPCO) to lead the sustainable energy business.

The company has successfully carried out water electrolysis systems and control methods combined with small hydropower generation, production of special submersible generator water turbines and market development, prototype production of Francis-type water turbines for small power generation, and consulting and marketing tasks for intellectual property rights. In recognition of these achievements, the company signed an agreement with KEPCO in September to jointly establish a research institute.

REC’s Innovation is carrying out technical tasks related to green hydrogen and energy storage systems (ESS) as well as small hydropower generation. The company is also participating in tasks such as the demonstration of PEM STACK and BoP for green hydrogen production, and how to implement ESS and PMS to increase the efficiency of small power generation. As a result of these efforts, the company has achieved the establishment of a company-affiliated research institute, venture company certification, and the Grand Prize of an excellent green energy company in 2023.

REC’s Innovation’s main businesses are small hydropower, photovoltaics, fuel cell, ESS manufacturing, P2X, EMS. These projects are linked to the DR (Demand Response) business and complete the intelligent smart grid business through the self-developed AI (Artificial Intelligence) program.

Currently, the company operates a small power plant in the Jeollanam region, as well as a solar power plant and a fuel cell power plant. The company is also focusing on solutions to build an integrated grid system by producing green hydrogen through a water electrolysis system combined with small hydropower generation, manufacturing a mass storage ESS using waste iron phosphate batteries, and developing an EMS to manage it.

Through this, the company intends to develop a system that regulates supply and demand by stably storing and predicting renewable energy with fluctuating production volumes, such as solar power generation. The company also aims to implement a sustainable power supply system by building a smart grid that connects power plants, charging stations, industrial parks, buildings, and homes with the central power grid management system.

CEO Jungmin Lim says “We are mainly known as a company specializing in small power plants, but in reality, we are an energy IT company pursuing solar power, ESS, and EMS smart grid businesses. This is not only a small power generation sector, but also a renewable energy-based grid business.”

REC’s Innovation will continue to lead environmental conservation and energy transition through technology research and innovation in the field of sustainable energy generation and smart grid.

 

▲ REC’s Innovation / CEO Jungmin Lim

Securing differentiation through an independent business model

REC’s Innovation is differentiated through its own business model. The company’s know-how based on the electrical construction business combined with CEO Lim’s expertise in finance and M&A has the ability to directly carry out everything from power plant licensing to financing, construction, operation and management, unlike companies that only have technology.

Lim says “At present, R&D related to generators and water turbines used in small power plants is almost complete, and R&D on shaft torque control technology to improve power generation efficiency is also in the final stages. We are currently working on the task of integrating energy storage systems (ESS) into small hydropower plants.”

Lim adds “We currently have two small hydro power plants in operation, and we plan to build 10 more this year. Even if only 100 of the 700 fish farms in South Jeolla Province are installed, it will be possible to produce the amount of electricity consumed by South Jeolla Province for one month.”

Through these efforts, the company aims to lead sustainable small power generation and energy-related businesses, and further solidify its position as a company that plays an important role in power generation and management in the future.

 

Talent Management

REC’s Innovation pays great attention to talent management. Through unconventional treatment, the company provided employees with benefits such as dormitory accommodation, stock options, and equity sharing, so that they could recruit the best talents in the country, and actively recruited talents, especially those at the team leader level. 

Lim says “We continue to recruit developers and designers to carry out various government tasks, with a focus on system developers, hardware and embedded developers. If we create a pleasant working environment like Naver or Kakao, I think many talented people will want to come here, even though the company is located in Naju.”

The company is expected to secure excellent human resources by attracting talent and create successful results by carrying out government tasks with team members with diverse expertise.

 

P2P power plant investment brokerage platform

REC’s Innovation aims to build and operate a total of 50 power plants by 2025 and have a total power generation capacity of 400mW by 2025. To this end, the company plans to raise stable facility investment through a “blockchain NFT-based P2P power plant investment brokerage fintech business” and secure a unique position as a renewable energy IT company.

Lim says “We anticipate that the private trading market for renewable energy will be open in the future. In the long term, our goal is to be a leader in the energy trading market and become the company that realizes the most renewable energy generation at home and abroad.”

REC’s Innovation is actively involved in expanding the construction of renewable energy power plants by leveraging blockchain and fintech technologies to provide investors with stable and transparent investment opportunities. In doing so, REC’s Innovation intends to play a major role in the future energy market and establish itself as a leader in renewable energy generation worldwide. 

백정준 기자  googies@naver.com