HD Hyundai Electric launches initiative to discover next-gen power tech startups

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HD Hyundai Electric launches initiative to discover next-gen power tech startups

Published: 29 Apr. 2025, 16:28 Updated: 29 Apr. 2025, 16:35

Audio report: written by reporters, read by AI

HD Hyundai Electric, Bluepoint and Plug and Play employees gather in Mapo District, western Seoul, for a kick-off event of the PowerUp HDE program on April 28. [HD HYUNDAI ELECTRIC]

As global electricity demand surges due to AI and other factors, HD Hyundai Electric has launched an initiative to discover startups that will lead next-generation power technologies.

HD Hyundai Electric held a kickoff event for "PowerUp HDE," an open innovation program aimed at finding domestic and international next-generation power technology startups, along with accelerator companies Bluepoint and Plug and Play, on Monday.

The recruitment fields include next-generation power, eco-friendly energy and the digital transformation, all of which are essential for future power businesses, HD Hyundai Electric said in a press release.

HD Hyundai Electric will begin recruiting startups in June and will officially operate its technology development program. Selected startups will receive benefits such as development funding, technology verification, a demonstration test bed and opportunities for joint development.

PowerUp HDE will operate primarily around proof-of-concept (PoC) projects, and the selected startups will collaborate closely with a task force composed of HD Hyundai Electric employees. After the PoC is completed, expansion into follow-up investments, joint commercialization and long-term partnerships will also be possible, according to the press release.

The selected startups will be able to use HD Hyundai Electric’s facilities to test their technologies.

"True challenges and innovation are absolutely necessary in the rapidly changing industrial environment," said HD Hyundai Electric CEO Kim Young-gi. "We will contribute to innovative growth in the power sector by continuously developing ideas for new power businesses."

BY KIM MIN-YOUNG [[email protected]]