KITECH to Transfer Lightweight Material ‘Eco-Al’ to Polish Firm (August 24)
- KITECH to transfer technology to nonferrous metal company 'Impexmetal,’ earning 14.5 billion KRW in royalty
□ On the 26th, Korea Institute of Industrial Technology (KITECH) stated that it transferred the eco-friendly lightweight material ‘Eco-Aluminum(Eco-Al) processing technology’ to the Polish nonferrous metal company Impexmetal on the 23rd.
□ Eco-Al is a revolutionary lightweight material that is environmental, cheap and with high quality and productivity. In the material, magnesium replaces beryllium, a carcinogen commonly added to the process to increase aluminum alloy strength.
□ The advance payment for the technology is 1.06 million euros (approximately 1.35 billion KRW). Impexmetal will pay 25 euros for each ton of alloy plate for running royalty until the patent expires in 2031, which equals 14.5 billion KRW in total revenue for KITECH.
□ Impexmetal plans to use the technology to produce Eco-Al alloy plates and supply them to lightweight parts manufacturers, with the vision of gaining ground in the market for advanced transfer machine components.
□ Director Sung Il Lee of KITECH stated that the transfer is "a result of long-term joint efforts by KITECH researchers, tech companies and LMS,“ adding that the institute will continue to promote the overseas transfer of their source technologies.