MGENSOLUTION Signs MOU with JIZENTECH for AI-Based Energy Circular Resource Business
From the left, Jisangmoo, Chief Production Officer of Gzentech, and Kang Yongju, CEO of Mgen Solution
View original imageMGENSOLUTION is entering the energy circular resource business by integrating artificial intelligence (AI)-based safety management technology.
On September 15, MGENSOLUTION announced that it has signed a memorandum of understanding (MOU) with JIZENTECH for a circular business that recycles hydrocarbon-based waste resources such as waste tires, waste plastics, and waste oil. The two companies plan to expand the scope of cooperation from manufacturing and supplying process equipment to technology development, and to target both domestic and international markets.
JIZENTECH is engaged in the business of converting waste plastics, which are difficult to recycle, into energy and petrochemical feedstocks through low-temperature pyrolysis. According to the company, it possesses technology that shortens processing time and increases yield compared to conventional pyrolysis methods.
Under the agreement, JIZENTECH will provide core equipment and related expertise necessary for reactions, decomposition, cracking, desulfurization, demineralization, and refining, as well as conduct research and development (R&D) on circular resource conversion technologies.
MGENSOLUTION will integrate its proprietary AI-based solutions into the circular resource business. Based on this, the company will be responsible for producing related products and supplying them to domestic and international clients.
In particular, MGENSOLUTION plans to apply its information and communication technology (ICT) and AI-based fire detection and safety monitoring technologies across the entire circular resource conversion facility to enhance safety in operations. The company’s strategy is to increase the business’s added value by combining AI-based safety management technology, moving beyond simple equipment supply.
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The two companies will leverage their respective technologies and business capabilities to enhance the competitiveness of circular resource conversion equipment and solutions, and jointly pursue domestic and global business opportunities.
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