EV Battery Waste Remanufacturer Poen Secures $28 Million in Series B Investment - KoreaTechDesk | Korean Startup and Technology News
Summary
Korean startup Poen, which specializes in the remanufacturing of electric vehicle waste batteries, has successfully secured 39 billion won (USD 28 million) in Series B investment. New institutional investors include the Industrial Bank of Korea, Shinhan Venture Investment, SV Investment KDB Capital, Hyundai Marine & Fire Insurance, and Lotte Rental (Lotte Ventures), reflecting strong confidence in Poens vision and technological capabilities.With this fresh injection of capital, Poen plans to accelerate the advancement of its technology, focusing on the development and commercialization of battery modules and packs. The company aims to establish a robust environmental protection foundation and achieve a global standard circular economy. The company has also garnered significant recognition, winning the Innovation Award at CES in Las Vegas, USA, and the Best Innovation Award for Used Battery at InterBattery, a premier domestic secondary battery industry trade show.Choi Sung-jin, CEO of Poen, stated, This investment attraction was made based on trust in our companys vision and technological prowess. We are grateful for the support and will strive to spread our advanced battery remanufacturing technology developed in Korea globally, contributing to environmental protection and resource circulation.Keep tab on latest news in the Korean startup ecosystem & follow us on LinkedIN, Facebook, and Twitter for more exciting updates and insights.