Ranked No. 1 in Eco-Friendly • Energy sector
Proved its technology by winning two CES Innovation Awards in 2020 and 2023
LiBEST, a flexible battery manufacturer was selected as main company in ‘Super-Gap Startup Project’ by the Ministry of SME/Startup during the opening ceremony held on May 10.
This is a government project that promotes 1,000 deep tech startups by investing 2 trillion won over 5 years and helps them advance to the global market.
First of all, 150 deep tech companies which belong to the 10 new industries (▲System Semiconductor ▲Bio·Health ▲Future Mobility ▲Eco-friendly Energy ▲Robot ▲Big data·AI ▲Cyber Security·Network ▲Aerospace·Marine ▲Next-generation Nuclear Power ▲Quantum Technology, etc.) with less than 10 years of business history are eligible for this project. These companies will be supported with a total of 1.1 billion won for commercialization and R&D funds for three years. Policy funds, security, exports, etc. are supported and the total project cost for 5 years is 130 billion won from the government budget and 700 billion won from private investment.
More than 1,900 deep tech startups nationwide applied for this project, showing over 13 to 1 of competition rate. Among those, LiBEST won the 1st place in Eco-friendly • Energy sector among 150 companies through evaluation by the Ministry of SME/Startups and private evaluation committees.
LiBEST is a deep-tech startup that had business growth at KAIST based on the flexible battery that won the CES Innovation Award in 2020. Based on a secondary battery form factor, LiBEST attracted investment up to Series B, and in April LiBEST completed a new factory construction at the Dungok International Business Belt in Daejeon equipped with Korea’s first flexible battery automation production facility.
In CES 2023, LiBEST won CES Innovation Award once again with Anti-Flame & Anti-Freeze battery manufacturing technology. LiBEST is collaborating with partners for EVs and ESSs, including electric two-wheeled vehicles which requires highly safe battery, and it’s becoming another item to expand LiBEST’s business scope. It was also introduced as a key technology at the ‘10th International Electric Vehicle Expo (IEVE) 2023 Global TIPS Forum’ held in Jeju from May 1st which is expected to advance the future EV era.
In addition, LiBEST was selected as a finalist for ‘Astra Korea 2023’ held by CVC Applied Ventures of Applied Materials, a global semiconductor equipment company. After Anand Kamannavar, global head of Applied Ventures, and Dr. Omkaram Nalamasu, CTO of Applied Materials, visited Korea, venture investment and collaboration are under discussion.
CEO of Libest, Kim Joo-seong said “It is still in the development stage, but as it is a Super-Gap technology, we plan to raise the technology maturity as quickly as possible through this project. We will create a niche market in battery market with this technology strategy and we are planning a roadmap for economic efficiency, safety, energy density and productivity. By 2027, we will jump up to a battery solution company following the 3 major battery companies, and grow rapidly in terms of sales as well as the size of the company.”
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