Last month, INGINE was ranked 9th globally and 2nd in Korea for marine energy in Forbes Korea’s ‘Top 20 innovative companies/organizations in ESG & carbon reduction’ ranking. Other Top 20 organizations involved in marine energy included the Chinese government in 1st place and Zhejiang Ocean University in 2nd place. Beside INGINE, Korean companies and institutions that were ranked included the Korea Institute of Ocean Science and Technology placing 6th, Samsung Heavy Industries in 11th place, the Korea Institute of Energy Research in 16th place, and the South Korean government in 17th place.
Forbes Korea’s ranking methodology included the calculation of the carbon reduction effect index of companies and organizations in Korea. Data was sourced from Japanese intellectual property rights firm Asta Muse’s database, which includes approximately 700 million IP articles. The carbon reduction effect index, which assesses the competitiveness of organizations’ decarbonizing technologies, is actively used in Japanese policymaking as well as by international companies for carbon reduction monitoring and reporting.
INGINE gaining recognition in the innovative carbon reduction sector can be attributed to the company’s global intellectual property efforts, including one of its main patents for a ‘Power converting apparatus’. This is the technology that transforms irregular and occasional kinetic energy from ocean waves into linear energy by spinning the output booster rod. This increases generation efficiency by using accumulated energy in moments when the floating device cannot absorb enough from waves.
For more information, please refer to Forbes Korea – issue No. 202111 (Oct. 23, 2021), or to the ‘global and Korean Top 20 innovative companies/organizations in ESG & carbon reduction’ column in the Joongang Sisa Magazine.