TMEVnet was selected for Deep-Tech TIPS with its ultra-fast EV charging technology development

The startup TMEVnet which is developing ultra-fast electric vehicle charging solutions, was recently selected for “Deep-Tech TIPS,” a program organized by the Ministry of SMEs and Startups.

Deep-Tech TIPS, part of the TIPS (Tech Incubator Program for Startups) program, targets startups established within 10 years that have attracted investment of at least 300 million KRW from a TIPS operator.
It provides up to 1.5 billion KRW in R\&D funding, as well as commercialization and global marketing support.
The program aims to foster deep-tech startups in ten promising new industry fields.

TMEVnet’s core technology is an ultra-fast charging cable cooling system applying liquid evaporation phase-change cooling technology, the first case in the industry.
It is evaluated as a technology that can greatly contribute to accelerating the growth of the electric vehicle and future mobility markets,
by solving the overheating and weight problems of existing EV charging cables and enabling megawatt-level high-power charging.

Cho Hyoung-nam, CEO of TMEVnet, said, “Controlling the heat generated during high-power charging is the key technical barrier to megawatt-level charging,” and added,
“Through Deep-Tech TIPS, we will overcome current limitations and make megawatt-level charging possible even within today’s fast-charging standards.”

TMEVnet was selected for this TIPS program through major investment from KingoSpring,
and plans to accelerate global market entry and R&D through joint technology development with the Korea Automotive Technology Institute.
In particular, it had previously been selected for the “Startup Autobahn” program hosted by Mercedes-Benz,
and plans to verify megawatt charging performance in Germany through PoC (proof of concept) cooperation with Mercedes-Benz and Siemens.