freeT Signs MOU with Orion ENC for "Mobile Plasma Waste Treatment System" Business

Orion ENC's mobile plasma waste treatment facility (LAPLAS) and field application case. Provided by Pretti

KOSPI-listed company freeT (CEO Song Byungkwon, formerly known as InskoB) is making a full-scale entry into the eco-friendly waste treatment business by partnering with nuclear engineering specialist Orion ENC. The company’s strategy is to expand new growth areas based on its existing telecommunications and smart grid businesses, thereby improving its corporate structure.

On June 23, freeT announced that it had signed a memorandum of understanding (MOU) with Orion ENC (CEO Lee Woonjang) for the commercialization of a "mobile plasma waste treatment system."

This agreement is significant as it marks freeT’s first strategic business partnership since it changed its name from InskoB to "freeT" and reorganized its management following an extraordinary general shareholders' meeting last month.

Currently, freeT operates an affordable mobile virtual network operator (MVNO) business generating annual sales of KRW 100 billion, as well as a smart grid business related to Korea Electric Power Corporation’s remote metering and power efficiency projects for industrial complexes. Through this partnership, the company plans to secure new growth engines by adding eco-friendly energy and nuclear-related businesses to its existing portfolio.

The two companies have agreed to jointly commercialize the entire process—from production and supply to installation and operation—of the mobile plasma waste treatment system, based on Orion ENC’s proprietary technology, and target both domestic and overseas markets.

Within 30 days of signing the agreement, the two companies plan to form a joint task force for project execution. Orion ENC will provide technical training and assist with the preparation of marketing materials, while freeT will leverage its sales network and marketing capabilities developed through its telecommunications, smart grid, and power efficiency businesses to lead customer acquisition and order activities both in Korea and abroad.

Orion ENC is recognized for its technological expertise in nuclear waste treatment in Korea. It is the only domestic company to have officially supplied nuclear waste treatment systems to Korea Hydro & Nuclear Power, and since its establishment in 2012, it has secured technological capabilities across the entire nuclear industry value chain, including radiation monitoring systems, plasma waste treatment systems, and radioactive waste volume reduction equipment.

In particular, the plasma technology-based "LAPLAS," developed with support from the Ministry of Trade, Industry and Energy and Korea Hydro & Nuclear Power, is a mobile nuclear decommissioning system that thermally decomposes radioactive dust in real time. The company officially announced the completion of its development last year.

The core of this collaboration, the mobile plasma waste treatment system, is designed in a containerized form, allowing for mobility. This makes it possible to immediately process waste at sites where it occurs, such as disaster areas, remote islands and mountainous regions, military bases, medical facilities, and livestock burial sites affected by infectious diseases.

The system is seen as an alternative solution that can simultaneously address both land acquisition and local resident opposition issues that arise when constructing large incineration plants. With rising demand for eco-friendly waste treatment driven by the Ministry of Environment and local governments, the market is expected to expand significantly.

Market growth potential is also anticipated. According to global market research firm Research Nester, the global waste management market was valued at USD 1.36 trillion last year and is projected to grow to USD 2.46 trillion by 2035. Within this, the plasma gasification market is expected to expand from USD 1.8 billion last year to USD 4.1 billion by 2034, with an average annual growth rate of 9.5%.

A freeT official stated, "This partnership with Orion ENC is not just about business diversification; it is a critical turning point for us to evolve into a global eco-friendly energy company, leveraging our stable telecommunications business. By combining the technological and business strengths of both companies, we aim to capture the high-growth mobile waste treatment market and achieve substantial revenue growth and enhanced corporate value."

Industry observers are paying attention to this partnership as a strategic combination of a nuclear specialist with advanced technology and freeT, which has a stable revenue base. The two companies have set the term of the agreement at three years, with an automatic renewal clause, thereby establishing a long-term cooperation framework.

freeT plans to add new nuclear-related business objectives at an extraordinary general shareholders' meeting in July and to fully launch related operations.

This content was produced with the assistance of AI translation services.