TLDR:
- Korean startup Poen secures $28 million in Series B investment for remanufacturing electric vehicle waste batteries
- Company plans to focus on technology advancement, strategic partnerships, and global expansion
Korean startup Poen, specializing in the remanufacturing of electric vehicle waste batteries, has secured $28 million in Series B investment. Founded in 2019, Poen has attracted significant investments over five years and has partnered with major industry players such as Hyundai, Kia, LG Energy Solution, and CATL. The recent investment round includes support from domestic venture capitals and institutional investors, reflecting confidence in Poen’s vision and technological capabilities. With this funding, Poen plans to accelerate the development and commercialization of battery modules and packs, establish a global branch network, and supply remanufactured batteries to major markets worldwide.
Poen has also expanded internationally, establishing subsidiaries in key markets such as the US and Germany. The company has received recognition for its innovative technology, winning awards at international trade shows. CEO Choi Sung-jin expressed gratitude for the support and emphasized Poen’s commitment to spreading its advanced battery remanufacturing technology globally to contribute to environmental protection and resource circulation.
