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Wave Energy
Onshore wave energy generation is an optimal replacement for diesel on islands and coastal regions. In the future, we plan to further develop our technology to expand to offshore wind farms.
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Eco-Friendly Polyols
Our new business, eco-friendly polyols, reduces the planet′s carbon emissions by replacing petrochemical raw materials, which are the materials of polyurethane, with vegetable and recycled plastics.
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ECR10 Project Begins in Indonesia
IWES (INGINE Wave Energy Systems Ltd.) and it's consortium finalized the location for a wave energy power plant in Tatar village, Sumbawa Island, West Nusa Tenggara, Indonesia, under the ECR10 (Energy Catalyst Round 10) project last September. The consortium, consisting of IWES, INGINE Inc., PT PLN Indonesia Power, and the University of the Highlands and Islands, was selected as the winner of the ECR10 in December 2023, with the title "An Open-Water Demonstration of the INWave Wave Energy Converter Power Plant." Although there was a delay in finalizing the project site, the consortium received a grant offer letter from Innovate UK, the host organization of the ECR10, on September 25, providing £720,000 out of the total project budget of £1 million. This marks the official launch of the ECR10 project, which aims to complete a commercial-scale wave energy power plant by March 2026. < Grant Offer Letter from Innovate UK> The E...
2024.10.18 -
Recognized as a Green Economic Activity Enterprise in FY2023 K-Taxonomy Compliance Assessment
In the K-Taxonomy compliance assessment report conducted last April, Ingine Inc. was recognized as a green economic activity enterprise in terms of revenue, capital expenditure (CapEx), and operating expenses (OpEx) for FY2023. Ingine Inc. categorized all its business activities into green economic activities, brown economic activities, and other economic activities, and calculated its financial performance according to the K-Taxonomy. The assessment revealed that out of 15 economic activities, six, including the company's main businesses of wave power generation and bio-renewable polyol manufacturing, as well as other services conducted in 2023, met all the criteria for recognition as green economic activities. K-Taxonomy (Korean Green Classification System) was announced by the Korean government in December 2021 to prevent greenwashing and direct green funds to green projects or technologies by providing clear criteria for green economic acti...
2024.05.16 -
INGINE to get UK government subsidy for wave power project
The consortium, led by INGINE and INGINE Wave Energy Systems Ltd. (IWES), has secured a subsidy from the UK government once more, making it onto Innovate UK’s Energy Catalyst Round 10 list. The Energy Catalyst's core aim is to champion sustainable energy solutions, reducing reliance on fossil fuels in targeted regions—an objective perfectly aligned with INGINE's mission. Under the program, Innovate UK has subsidized a total of 160 million pounds (264.8 billion won) for more than 320 overseas projects from 46 countries. INGINE Wave Energy Test Plant in JeJu Island This funding, amounting to £720,000 of a total £1 million, will drive the establishment of a wave-power station on An Binh Island in Quang Ngai Province, Vietnam. “I am very happy to help those who desperately need electricity with our next-generation wave power technology,” said INGINE CEO Sung Yong-jun. “This will surely be a corners...
2023.12.21 -
Selected as a member of the 'Greeners League 2030'
We were selected as a member of the 'Greeners League 2030,' organized by NIGT (National Institute of Green Technology)and participated in the launch ceremony on July 20th. The 'Greeners League 2030' is an alliance launched by NIGT to support climate tech startups to enter overseas market and develop export sales and aims to create a mutually beneficial and friendly network among climate tech companies with the goal of achieving the National Greenhouse Gas Reduction Target (NDC 2030). The launchceremony was attended by ten climate tech companies, including INGINE, GREENers, GREENEPLE, ENVELOPS, Nuvilab, Eldicarbon, SOLARTEC, Shinhan A-Tec, and SDKLAB which were selected after evaluations by experts in various fields such as venture capital, ESG, and startup consulting. INGINE became a member of the 'Greeners League 2030' to actively participate in domestic and international ODA (Official Development Assistance) projects to provide affordable and sustainab...
2023.07.25 -
Visit Vietnam As a Selected Delegate for Energy Catalyst
INGINE Wave Energy Systems (UK subsidiary of INGENE), as a UK innovation technology provider, was selected as a delegate in the Energy Catalyst Brokerage Visits to Vietnam from 24th February to 4th March 2023, attending meetings with the Ministry of Industry and Trade & the Ministry of Planning and Investment, Vietnam. Following this the delegation attended receptions at the British Ambassador's Residence in Hanoi and the British General Consulate in Ho Chi Minh City. Lee Sung-won, head of NGINE Wave Energy Systems pitched in a reception at the British Ambassador's Residence in Hanoi Vietnam, networking with diverse clean energy industries, BritCham members, and potential local partners. Innovate UK run Brokerage Visits for UK businesses to understand the country’s market, challenges, and opportunities for the Energy Catalyst Funding programme. INGINE Wave Energy Systems Ltd as the selected delegate, have o...
2023.03.15 -
Selected as the winner of Energy Catalyst Round 9
INGINE is honored to be selected as the winner of ECR9 (Energy Catalyst Round 9). ECR9 is operated by Innovate UK, a UK government innovation agency and it has selected the consortium formed by INGINE and its UK subsidiary IWES (INGINE Wave Energy Systems), University of Highlands and Islands (UHI), and PT Indonesia Power (PTIP) for a wave energy project in Indonesia. ECR is one of the best selection programs in the clean energy sector, and since 2014, it has worked with more than 200 developing country partners to support more than 750 energy innovation companies. With this support, INGINE Consortium will focus on the feasibility study of the wave energy project in Indonesia's eastern Nusa Tengara region and the design of the initial power plant. >> A panoramic view of East Nusa Tenggara in eastern Indonesia After the initial stages, INGINE aims to complete a wave energy generation system on the coas...
2022.12.10
