Sung Do-kyung, CEO of Vinatech Co., Ltd

Founded in 1999, Vinatech Co., Ltd. is a small, wealthy, and market company that specializes in developing and producing materials and parts for hydrogen fuel cells and 'supercapacitors', which are eco-friendly energy storage devices.

"Supercapacitor," which is in the spotlight as a next-generation energy storage device, stores energy and supplies high-power current instantaneously when needed, resulting in high energy output, long life, fast charging and discharging.

Based on this, it is continuing its high growth trend by expanding its scope beyond smart meters and solar power plants to eco-friendly and high-efficiency industries such as hydrogen cars, trams, medical devices, and drones.

According to BCC Research in May 2023, the global market size of supercapacitors is expected to grow from $4.6 billion in 22 years to $9.6 billion in 27 years, exceeding 16% of the annual average (CAGR 2022-2027).

Since 2004, Vinatech has established the manufacturing base of this industry, believing in the growth potential of the supercapacitor sector, and in 2010, it developed and succeeded in mass-producing the world's first 3.0V supercapacitor.

In this regard, it secured intellectual property rights through patent registration at home and abroad and proved the degree of technology completion.

As a result, it was transferred to KOSDAQ (KOSDAQ) in 2020 and was selected as the "100 Small and Medium Businesses in the Material and Parts Industry" and won the CONEX Grand Prize.

What is noteworthy is that it has consistently focused on the development of original technologies for materials and parts equipment for about 20 years from the beginning of its foundation.

Thanks to its efforts, it was able to win the title of world No. 1 in the medium-sized supercapacitor field, and now it has about 30% of its employees as R&D professionals.

In addition, growing into a company with a solid technology base, including 160 domestic and foreign patents and eight technology and quality certifications, is a strategy or strength unique to Vinatech that is differentiated from other manufacturing companies.

Behind Vinatech growth, related organizations in Jeollabuk-do, including the Jeonbuk R&D Special Zone, played a big role.

Through various networks and R&D projects, successful industry-academic cooperation cases are being created.

Since it was first designated as the fourth high-tech company in 2017, it has received full-cycle support from prototype production to test certification and market acquisition through the Jeonbuk Special Zone's Growth-Customized Package Support Project."

In addition, in 2022, a linking lab was promoted for joint research and development between KIST Jeonbuk Composite Materials Technology Research Institute and Vinatec.

Linking Lab is a project designed to develop technologies that meet corporate demand and increase the likelihood of success in commercialization through joint research between companies and research institutes, rather than technology development and transfer centered on technology providers.

The Jeonbuk Special Zone has pushed for a project called "R&D on Carbon Materials related to Improving the Durability of Hydrogen Fuel Cell Catalyst Layer" in anticipation of finding consumer-oriented technology through the development of technology tailored to corporate demand through a specialized project contest. The project cost worth 4.6 billion won was invested over two years.

Recently, an MOU was signed to promote convergence research and education in local industries, universities, and research teams including Vinatech received 2.2 billion won for this year's project alone and 20 billion won for the next 10 years in local industries.

This project was designed to contribute to technology start-ups and growth of local companies for convergence research results through business feedback and support for BM establishment.

In addition, a lot of effort is being made to revitalize the local economy. Jeonbuk Province-KDB Development Bank and others also participated in the creation of a fund worth 140.6 billion won for 10 years until 2032 to foster Jeonbuk startups.

This is a senior company that has been invested in local funds, leading the way to create an investment culture, expand exchanges between senior and junior companies, and contribute to fostering junior companies.

Vinatec, which has peaked in the super capacity field, is preparing new foods. It plans to research and develop core components of hydrogen fuel cells and expand production capacity that will accelerate the hydrogen economy.

In 2022, it signed a contract with the Korea Energy Research Institute located in Daedeok Special Zone for 'core technology and know-how in mass production of electrostatic electrospray-based fuel cell MEA' related to technology transfer for fuel cell core parts.

As a result, it has secured original technologies and mass production technologies that can reduce product unit costs by overcoming problems that occur during mass production of MEA.

With the introduction of this technology, Vinatech is expected to achieve rapid business expansion in overseas markets by achieving a technological super-gap and overcoming the challenges of expanding the fuel cell market.

In addition, KB Securities and others are discussing a long-term supply partnership contract with Germany's global automotive parts company for membrane electrode assembly (MEA), and estimate expected sales of about 1 trillion won with the goal of producing 100,000 hydrogen trucks a year by 2030.

"We have been able to successfully develop and commercialize technology through various R&D projects, and we need to support and expand special zones so that more companies can enjoy these benefits," said Sung Do-kyung, CEO of Vinatech. "Since Vinatech has also secured new growth engines beyond the existing market, it will face an inflection point of changes in the company such as sales and size in 2024, and will be on a full-fledged growth trajectory in 2025."

*Source: (https://www.jeollailbo.com/news/articleView.html?idxno=713852)