<Development of clean hydrogen production device based on low temperature plasma 'APGREEN'>
- Current Investment Attraction Phase: Seed
- Target amount of investment attraction: 500 million won
- When to attract investment: Q3 2023
- Since hydrogen mostly exists as a compound with water (H2O) or methane (CH4), a process of separating hydrogen is required to obtain hydrogen alone. A startup with new technology that produces hydrogen by reducing environmental pollution and reducing energy required in the process has decided to solve existing problems.

APGREEN is a startup that develops eco-friendly and economical hydrogen production and carbon processing devices based on hydrocarbons that can solve problems in existing hydrogen production such as energy input and carbon emission. AP Green minimizes input energy by utilizing exothermic reactions and low-temperature plasma to reduce energy consumed during hydrogen production. It uses low-temperature plasma to efficiently control exothermic reactions and increase energy efficiency to minimize energy consumption and improve economic feasibility. It also fundamentally suppresses carbon emission problems and solidifies carbon to facilitate processing, allowing carbon to be collected and treated in a stable and safe form.

APGREEN, selected for the 13th "Start-up NEST" of Big Bang Angels, is focusing on developing devices that reduce space and cost by simplifying hydrogen production processes and devices. It plans to reduce production costs and manpower input by developing a method of supplying packaged products to places where hydrogen production and production are needed without facility construction on the site.


CEO  Tae-yoon Park

The goal is to supply production devices to the hydrogen production market, which is expected to grow to 200 trillion won in 26 years, based on technical advantages such as patents, applications, and trademarks that have secured intellectual property rights. The market for small and medium-sized hydrogen production devices targeted by APGREEN is expected to be more than 150 billion won in Korea and 1.5 trillion won worldwide.

APGREEN revealed the company's ultimate vision to "secure clean hydrogen source technology to contribute to energy security, contribute to carbon-neutral energy conversion through clean hydrogen production, and enhance Korea's energy self-sufficiency."

What is the problem that our team is trying to solve?
Hydrogen is the most common substance in the universe, but on Earth, it exists mostly as a compound like water (H2O) or methane (CH4), so hydrogen needs to be separated. This process consumes a lot of energy and carbon is released into the atmosphere. Therefore, the reality is that hydrogen made is clean, but expensive, and the process of making it is not clean yet, and it costs a lot.

So we're developing eco-friendly, economical hydrogen production and carbon processing devices based on hydrocarbons that can solve existing hydrogen production problems such as energy input and carbon emissions. Through this, we would like to contribute to the climate and energy crisis facing the Earth and our society by solving various problems that hydrogen production can cause, such as reducing air emissions of methane, the second-largest greenhouse gas, and saving energy/water.
How do we solve the problem?
The two biggest problems with hydrogen production are that it consumes a lot of energy to make it because it can only be used by hydrogen, and if hydrogen is made through hydrocarbons such as methane, it is not free from carbon emissions.

So, first, we minimize the energy input into hydrogen production by using exothermic reactions and low-temperature plasma to reduce the energy consumed in hydrogen production. Minimize energy consumption and improve economic efficiency by efficiently controlling exothermic reactions and increasing energy efficiency using low-temperature plasma.

Second, to solve the carbon emission problem, we applied technology that fundamentally suppresses carbon emissions and makes the generated carbon easier to process. It solidifies the carbon generated during hydrogen production and collects and processes it in a stable and safe form to manage it in a sustainable manner.

In addition, it simplifies processes and devices to reduce space and costs, and to save resources for hydrogen production, such as not using water during reforming reactions.

In this way, we want to build a sustainable and competitive hydrogen production system by improving the hydrogen production process, achieving the goals of minimizing carbon emissions, energy efficiency, minimizing footprint, improving economic efficiency, and reducing water consumption.
What is our competitive edge?
The key technology advantages include minimizing energy consumption required for hydrogen production through the effective fusion of various technologies such as low-temperature plasma technology, catalyst technology, and thermal reaction technology.

With these technological advantages, we are more competitive than our competitors in terms of mobility, ease of installation, operational efficiency, increased production capacity, clean hydrogen production and carbon utilization, and carbon negativity. Our technology provides an effective solution that minimizes maintenance costs such as catalysts and simplifies processes to realize economical and sustainable hydrogen production.
What products/services do we offer?
A clean hydrogen production system that produces and utilizes clean hydrogen where hydrocarbons can be supplied (natural gas, biomethane, etc.) can be converted into usable materials to minimize carbon emissions will be commercialized in a portable/onsite container type.

First of all, we will complete the prototype production of 20kg/day clean hydrothermal devices by 2024 and conduct market tests in 2025, and based on this, we will launch full-fledged commercial products of 500kg/day in 2026 and 1ton/day in 2027.
What market size and key customers are our products/services targeting?
The hydrogen production market is expected to reach about 200 trillion won by 2026, when we are preparing for full-fledged commercialization. Considering the prospect of hydrogen use and corporate/government investment plans, the small and medium-sized hydrogen production device market is expected to form at least 150 billion won in Korea and 1.5 trillion won worldwide.

Our products are aimed at various customers in the field of hydrogen production and utilization. In this way, we provide solutions to companies and institutions that need hydrogen suppliers for fuel cell power generation, hydrogen suppliers, factories and research facilities, hydrogen ESS operators, on-site hydrogen charging stations, biogas operators, and hydrogen production devices for ships and onboard. Our products have great potential and diversity in the hydrogen market and provide these diverse customers with efficient solutions for stable and sustainable hydrogen production and supply.
What is our business model?
Our business model is to develop and supply small and medium-sized modular clean hydrogen production devices. In other words, it is not a facility construction in the field, but a method of supplying packaged products where hydrogen production and production are needed. This model is easy to save time and money for consumers because it does not require on-site construction. Currently, the price of the 20kg/day market test product to be released around 2025 has been set at about 200 million won considering the small amount of production. If mass production is carried out in earnest in the future, the unit price will be reduced by 50%, which will be 500 million won for 100kg.day and 2.5 billion won for 500kg/day. This price range is similar to or lower than the price range of existing SMR devices without carbon capture, and we expect to secure sufficient price competitiveness in the future.

We can utilize the product for various hydrogen supply scenarios. For example, pure hydrogen can be supplied to fuel cells for 5kw buildings to supply hydrogen for power generation, and a reformer for fuel cells can support 10kw fuel cells. In addition, small and medium-sized on-site hydrogen charging stations can be operated to supply hydrogen for hydrogen fuel cell power mobility charging. In addition, laboratories and factories can provide stable and continuous on-site clean hydrogen production and supply to demand for pure hydrogen.

Through this, our business model is to realize stable and economical hydrogen supply by utilizing small and medium-sized clean hydrogen production devices in various hydrogen supply sectors.



What is our team's achievement?
Through prior research and development tasks, we developed a low-temperature plasma-based reactor to build a commercialization foundation, which laid the foundation for laboratories, manpower pools, networks, basic equipment and materials. In addition, the miniaturization of the reactor has been achieved for ease of modularization, and scale-up know-how has been accumulated through continuous design-production-operation testing.

Our team established an IP portfolio by registering patents, applying for patents, and applying for trademarks to secure intellectual property rights. So far, we have registered three patents, one domestic patent and one U.S. patent.

We have completed the development of bench-scale technology through existing R&D, and are currently developing pilot-scale technology. Upon completion of the pilot scale technology development, we plan to develop and sell demonstration operations and commercial prototypes.

In addition, our team established a cooperative relationship with Professor Yoon Joon-yong of the Department of Mechanical Engineering at Hanyang University through MOU with Hyundai Corporation, and secured 200 million won in investment by attracting seed investment in December 2022. Through this, our team expects to achieve sales confirmation and good sales performance.
How competitive is our team?
Our team recognizes the urgency of securing the source technology of clean hydrogen production through experience in the hydrogen industry. CEO Park Tae-yoon joined a hydrogen company in 2017 and decided to start a business after discovering business opportunities for clean hydrogen production technology and devices. After that, we moved to the U.S. to discover items and started a business in Korea in January 2022. Our team's goal is to contribute to energy security by securing clean hydrogen source technology in Korea, contribute to carbon-neutral energy conversion through clean hydrogen production, and increase energy self-sufficiency in Korea.

Our team is composed of members with various experiences and expertise. As an early and founding member of the liquefied hydrogen company, CEO Park Tae-yoon has an understanding and start-up experience of the hydrogen industry that he learned in practice. Director Kim Bo-sung also has experience as a founding member of a hydrogen company and head of the research department. Ali T-Raissi, head of the institute, is a world-renowned hydrogen authority in the United States with more than 40 years of experience in hydrogen R&D.

Heo Jae-young, head of the research department, is a hydrogen expert who obtained a doctorate in mechanical engineering from the Korea Advanced Institute of Science and Technology (KAIST) and served as the head of the institute and the head of the research center for 28 years. In addition, the team includes senior researcher Lim Nam-hoon, researcher Lee Dong-yoon, and researcher Kim Na-yoon, who have high expertise and experience. Team members have a wide range of domestic and international experiences and expertise, and work together to develop and secure clean hydrogen production source technologies based on their roles and expertise.

Based on these various experiences and expertise, our team was formed together to contribute to the clean hydrogen industry in Korea. Our competitiveness is due to our experience and understanding in the hydrogen industry, our experience in starting a business, and our strong capabilities in developing clean hydrogen production source technologies. Through this, we are striving to contribute to the transition of energy security and carbon neutrality in the Republic of Korea and to achieve the goal of increasing energy self-sufficiency.
Why we need to be invested!!
First, we have secured the source technology of clean hydrogen production, and through this, we have developed a low-temperature plasma-based reactor and realized the miniaturization of the reactor. We have patents, applications, trademarks, etc. that have secured intellectual property rights, and we have secured technological advantage through this. Through investment, we can further develop our technology and proceed with further development and product improvement for commercialization.

Second, hydrogen plays an important role in the field of renewable energy, and the growth of the global hydrogen economy is accelerating. We can enter the hydrogen market through clean hydrogen production devices and utilize products for various hydrogen supply scenarios. This has great potential in this era when the need for energy transformation and the importance of responding to climate change are recognized, and investment can strengthen its competitiveness in this market.

Third, our team already has experience in building a foundation and developing bench-scale technology through prior R&D tasks. In addition, we have a network that can receive cooperative relationships and funding through the signing of MOUs and attracting seed investment. By receiving investment, we can proceed with demonstration operation, product development, sales, etc. for successful technology development and commercialization, and further strengthen our partnership to grow.

Source: https://wowtale.net/2023/07/26/60948/