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Business Network for Offshore Wind: Network Partners With Korean-Based Companies to Promote Offshore Wind Development in the U.S.

Targeted News Service  


    BALTIMORE, Maryland, June 9 -- The Business Network for Offshore Wind, an organization that expands the adoption of offshore wind energy, issued the following news release on June 8, 2022:

    The Business Network for Offshore Wind today announced the launch of the U.S. Offshore Wind Pathway Program, a new partnership with the Korea SMEs and Startups Agency (KOSME) designed to support the entry of Korean-based offshore wind companies in the fast-growing U.S. offshore wind market. Starting this month, the Network will host ten companies, selected by KOSME, providing education, business mentoring, and access to networking events over a 15-week period.

    The U.S. offshore wind market is rapidly expanding, attracting billions of dollars in new investment, and attracting global attention. The past year has seen a marked growth in supply chain development as this national industry takes shape across the United States. The Network's International Offshore Wind Partnering Forum in late April drew more than 3,000 attendees representing 25 countries across Europe, Asia, and South America. KOSME is the inaugural partner for the Pathway Program, which was created to help small and medium-sized international enterprises and startups enter the U.S. offshore wind supply chain by localizing their products and technologies.

    "From the New York Bight and Carolina Long Bay lease auctions to the upcoming leases in California and the Gulf, and the recently announced Pacific and Mid-Atlantic lease areas, the long-term success of the U.S. offshore wind industry will require a strong domestic supply chain and expansive manufacturing capabilities. Korean businesses recognize the vast potential of offshore wind power in the United States and are making investments now to help grow the supply chain and accelerate growth," said Liz Burdock, CEO of the Business Network for Offshore Wind. "We are thrilled to partner with KOSME to help new small and medium-sized businesses enter the U.S. market, which in turn will support local economies and create well-paying jobs across our country."

    The partnership with KOSME will include the Network's Foundation 2 Blade training, which helps companies understand the U.S. market, where they fit in, and how they can seamlessly enter the supply chain. It will also match Korean companies specializing in all aspects of offshore wind, from floating offshore wind body structure, substation design and engineering, digital automation, to raw materials and parts, with U.S.-based mentors who will provide one-on-one assistance in developing a tailored market strategy and business plan, and customized training on the U.S. offshore wind industry, from permitting to construction.

    "We are excited to partner with the Business Network for Offshore Wind on a program that will support the growth of the U.S. offshore wind industry," said Youngtae Kim, KOSME's Director of the Korea Business Development Center. "Korean and U.S. businesses have a longstanding positive relationship that will be deepened as we work together to build a clean, reliable renewable energy industry."

    The Pathway Program is open to countries interested in helping its businesses successfully enter the U.S. offshore wind industry. The following ten companies were selected as part of the inaugural cohort:

    * ACE Engineering & Technology

    * CyTroniQ Co., Ltd.

    * Dong Yang Engineering (DYE)

    * Forum D&P Inc.

    * Joong-Ang Heavy Industry Co., Ltd

    * KHAN Plant

    * Shilla Corporation

    * SJF (Shinjin Fasteners Co. Ltd.)

    * Yuil Co., Ltd.

    * Yujoo E&C Co., Ltd.

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