Edison Inno Appoints JSpace CEO as Inside Director... Space Launch Vehicle Business Accelerates
[Asia Economy Reporter Jang Hyowon] Edison Inno announced on the 1st that it will expand its space launch vehicle business through J-Space Holdings.
On the same day, Edison Inno held an extraordinary general meeting of shareholders and changed the company name to ‘Innosys’ and appointed Lee Seunghoon, CEO of J-Space Holdings, as an inside director.
At the extraordinary general meeting, Edison Inno added business purposes related to aerospace fields such as satellite launches, spacecraft, and satellite systems, as well as autonomous driving and graphene. The demand for satellites, which are essential for the aircraft business and autonomous driving, is expected to grow exponentially in the future.
In addition, the company strengthened research and production technology related to implants by recruiting inside director Lee Seungyoung, Ph.D. in Precision Mechanical Engineering from KAIST. Also, inside director Choi Doyoung, a graduate of Chemical and Biomolecular Engineering from Seoul National University, was appointed to expand the business of the bioabsorbable metal ‘Lysomet,’ which has currently received clinical trial plan approval.
Lysomet, a material absorbed by the human body during fracture surgery, has passed tests required by clinical trial approval in Korea and clinical approval in China.
The funds from the ongoing convertible bonds are expected to be used to expand the space launch vehicle business and the medical business.
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A company official stated, “In the case of medical-related businesses, since we possess core technologies and proactive expansion of scale directly leads to profits, active research and investment are necessary. Along with this, the space launch vehicle business is the cornerstone for the company’s future, and through J-Space Holdings, Edison Inno is expected to launch the signal flare for satellite launches and aerospace business.”
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