‘Eco-friendly Energy Company’ BioX Announces IPO Entry… Signs Lead Manager Contract with Shinhan Investment Corp

[Asia Economy Reporter Jang Hyowon] BioX, which is pioneering the world's first commercialization of green hydrogen using waste resources, is entering the initial public offering (IPO) market, fueled by the era of decarbonization and the expansion of Green New Deal policies.

On the 11th, BioX announced that it has selected Shinhan Financial Investment as the lead underwriter for its KONEX and KOSDAQ IPO.

With the lead underwriter selection finalized, BioX plans to intensify preparations for listing on the KONEX market in the first half of next year. Furthermore, its ultimate goal is to transfer to KOSDAQ through a technology evaluation special case in the second half of next year or the first half of 2023.

BioX is an eco-friendly energy leading company promoting green hydrogen commercialization by utilizing food waste leachate through microbial electrolysis, a world-first technology.

BioX stated that it entered the green hydrogen business by acquiring technology transfer and exclusive domestic business rights from the U.S. company EAT (Electro-Active Technologies). Last year, BioX succeeded in the initial production of eco-friendly hydrogen with a purity of 99.9% in Korea in collaboration with EAT, completing technology transfer, pilot testing, and final commercialization testing.

EAT’s hydrogen generation technology using food waste was developed since 2008 at the Oak Ridge National Laboratory, a U.S. Department of Energy national research institute. In August 2017, just before the technology commercialization phase, the development team obtained exclusive licensing rights and spun off to establish EAT. BioX holds a 14.7% stake in EAT.

Earlier this year, BioX established an affiliated research institute for green hydrogen companies and filed three domestic and international patents related to the high-purity hydrogen energy generation system (HAAMA: Hydrogen Amassing Anodic Microbial Assembly) technology in the U.S. and Korea.

Additionally, BioX is expanding collaboration for green hydrogen commercialization with local governments, industry-academia-research cooperation, hydrogen drone companies, water treatment specialists, and renewable energy companies related to hydrogen energy.

A company official said, “ESG (Environmental, Social, and Governance) management and the decarbonized Green New Deal are unavoidable major trends. BioX has decided to focus on global carbon neutrality trends and hydrogen-centered Green New Deal technologies as future growth engines, accelerating the commercialization of green hydrogen. Based on tangible achievements, we will pursue a successful stock market entry next year.”

He added, “BioX has secured unique technology related to green hydrogen in the hydrogen industry with high growth potential, and we will do our best to maximize corporate value based on this. We have selected Shinhan Financial Investment, which has a diverse IPO track record across various industries and cases, as the lead underwriter to actively prepare for the IPO.”

Meanwhile, besides the green hydrogen business, BioX holds shares in ‘BiomeSense,’ which possesses real-time intestinal microbial analysis technology, and ‘Blue Planet Ecosystem,’ which developed a pollution-free aquaculture system using light, and is promoting related businesses. Based on the green hydrogen business, BioX plans to create synergy with its affiliates and leap forward as a new-concept bio and energy specialized company.

This content was produced with the assistance of AI translation services.