PRESS
60Hertz Selected as a Top 100 Climate Tech Startup in the Indo-Pacific Region
June 10, 2024
Highly recognized for managing renewable energy and EV-based distributed resources.
60Hertz Inc., a social venture specializing in energy IT, announced that it has been selected as one of the Top 100 Climate Tech Startups by the Indo-Pacific Economic Framework (IPEF).
IPEF is a multilateral economic cooperation framework involving 14 countries, including the United States, Japan, and South Korea, with projected clean economy collaboration in the region estimated to reach KRW 200 trillion. The IPEF Ministerial Meeting, held in Singapore over two days on April 5–6, concluded with all 14 member states officially signing related agreements.
Founded in 2021, 60Hertz gained industry attention by launching the Virtual Power Plant of Korea, which connected over 130,000 solar, wind, and energy storage systems (ESS) into a single platform for power generation forecasting. The company also developed and publicly released the Renewable Energy Map, a real-time visualization tool showing generation data for approximately 80,000 operating renewable power plants (totaling 18 GW), integrated with live weather data.
60Hertz’s proprietary Energy Management System (EMS), Energy Scrum, received a CES Innovation Award in 2023. Most recently, the company formed a consortium with Hyundai Engineering & Construction, Hyundai Motor Company, 42dot, KEPCO, and Korea Power Exchange, securing a KRW 38 billion national R&D project led by the Korea Institute of Energy Technology Evaluation and Planning (KETEP) to develop V2G services integrated with Software Defined Vehicles (SDVs).
CEO Jonggyu Kim stated,
"As eco-friendly distributed energy resources rapidly expand worldwide, the services that manage them are becoming increasingly critical. We plan to begin international expansion soon, and we believe Korean climate tech companies, including 60Hertz, will play a key role in the Indo-Pacific region’s energy transition."
During the IPEF Ministerial, a parallel Investor Forum was held, with participation from 103 global investors and institutions including Korea’s National Pension Service, BlackRock (U.S.), and Macquarie (Australia), as well as global corporations like Google and Amazon.
Out of more than 2,000 applicants across 14 countries, ten Korean companies were selected for the Top 100, including GridWiz, Nara Space, and 60Hertz.