A corporate venture team from Hanwha Systems (CEO Eoh Seong-cheol) is partnering with the Solar Energy Research Group of the Korea Institute of Energy Research (President Lee Chang-geun) to launch a next-generation space solar cell business.

Flexell Space, an in-house venture of Hanwha Systems, signed a Memorandum of Understanding (MOU) with the Korea Institute of Energy Research (KIER) at the KIER headquarters on the morning of the 13th to cooperate on the development of "space tandem solar cell" technology combining CIGS and perovskite and the commercialization of lightweight thin-film solar cells.

Based on this agreement, the two companies will combine Hanwha Systems’ space business capabilities with KIER’s solar cell technology to cooperate in areas such as the joint development of ‘space tandem solar cells’ combining CIGS and perovskite, and the establishment of solar cell manufacturing processes and business models.

Flexel Space is an in-house venture of Hanwha Systems launched on September 1st to introduce innovative technologies for space solar cells and develop tandem solar cells. Since 2021, Hanwha Systems has been operating the 'Frontier' program, the first in-house venture incubation program in the defense industry.

Hanwha Systems was the first to localize the production of micro-SAR satellites and has also made a full-scale entry into the 'space internet' business utilizing low-orbit satellite communication. In addition, efforts are being made to develop key satellite components such as the On-Board Program (OBP), Electronic Beam Steering (ESA) antenna, and the Inter-Satellite Laser (ISL) communication system for communication between satellites in orbit.

As the global space and satellite industry, including Hanwha Systems, grows, the demand for the development of next-generation solar cells that are highly efficient, low-cost, and lightweight is increasing. With the importance of securing foundational technologies through industry-academia-research collaboration being highlighted, Flexel Space, a solar cell technology venture company that serves as the power source for satellites, was established.

The Korea Institute of Energy Research (KIER) is a government-funded research institute under the Ministry of Science and ICT that researches and develops source industrial technologies to secure energy security and national competitiveness, and is internationally recognized in the field of energy technology and research.

Ahn Tae-hoon, a researcher at Hanwha Systems and CEO of Flexel Space, expressed his determination, stating, “For the sustainable development of the satellite and spacecraft launch industry, solar cells, which serve as a power source, must provide low cost, lighter weight, and higher output compared to existing product lines.” He added, “Through technological cooperation with the Korea Institute of Energy Research, we will accelerate the commercialization of next-generation solar cells and seize countless industrial opportunities in the vast universe, such as space exploration and space power plants.”

"Kwak Ji-hye, Head of the Solar Energy Research Group at the Korea Institute of Energy Research, said, 'The Korea Institute of Energy Research has achieved the world's highest efficiency by developing high-performance, flexible, and lightweight 'tandem solar cell' technology.' She added, 'Through this collaboration, we look forward to focusing on solar cell technology innovation in the space sector with Hanwha Systems to demonstrate Korea's capabilities in new energy technologies.'"