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Published items
Technical notes
4
Media records
26
Industry explainers
35
Technical notes / First-party data

Measurements and test conditions,
shown together

A result is useful only when the test conditions and the limits of interpretation are visible with it.

01
Technical note

Our first large-area cell was worse than the stack we already sell

Our commercial 2 kW stack is 23 cells of 79 cm². The 30 kW HXS-30 is 46 cells of 521 cm². The large-area cell started well behind the 2 kW stack, and once the cause was found it came back onto the 2 kW curve at five cells and again at fifteen. In the first 15-cell run on 26 August 2026 the cell voltage was 1.660 V and the spread across all fifteen cells was 40 mV.

Read the technical note
01Test conditionsShown with the result
02Original figuresIncluded in the article
03Detailed dataAvailable on request
The anode that looks best on day one is not the one that lastsWhat changes when you run the stack at 10 barReading 2,281 Hours of Stack Durability Data: What to Check Before the Number
In the media / Independent records

Coverage written by others

Funding, awards, product launches, interviews and partnerships. Each card opens our summary and the original source.

01
MoneyToday Unicorn Factory

D.Camp Batch passes 4,000 cumulative applications, average selection ratio 74 to 1

An analysis of application data for D.Camp's Batch programme: 4,087 cumulative applications, an average selection ratio of 74 to 1, and 21 of the 55 companies finally selected having applied more than once. The article cites HydroXpand as a company admitted to Batch 6 on its third attempt. CEO Jonghyun Hyun is quoted saying the company kept applying because it was convinced the programme genuinely moves startups forward, and that each application round became an occasion to review the business and organise its growth plan.

Open summary
02
Chungcheong News

Daejeon innovation centre steps up its 2026 social venture programme

A report on the 2026 social venture programme that the Daejeon Center for Creative Economy and Innovation is running with the city of Daejeon. HydroXpand CEO Jonghyun Hyun, whose company took part in the 2025 Social Impact Changers cohort, said the programme was an occasion to re-articulate the company's role in cutting carbon emissions through clean hydrogen, and that mentoring opened connections to large corporates and public enterprises that turned into real collaboration.

Open summary
03
Global Economic

Korea East-West Power opens its 2026 energy deep-tech startup programme

HydroXpand was selected as one of five teams in the SPARK track of E-SPARK 2026, the energy deep-tech startup programme run by Korea East-West Power. The 19 teams admitted, from an 8-to-1 field, receive focused PoC and MVP support, energy-sector expert sessions, one-on-one consulting, IR deck and pitch coaching, and introductions for investment and sales channels.

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04
Gas News

Korea Hydrogen Alliance runs a nine-company Korean pavilion at HEIE 2026

The Korea Hydrogen Alliance exhibited for the first time at HEIE 2026, the international hydrogen industry exhibition held in Beijing on 26–28 March, organising a Korean pavilion with nine domestic companies. HydroXpand took part as an anion exchange membrane supplier and was one of four Korean companies that presented at the Korea–China hydrogen industry cooperation forum held on 27 March.

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05
Electronic Times (etnews)

HydroXpand selected for D.Camp Batch 6 deep tech cohort

HydroXpand was selected as one of eight deep tech startups in D.Camp Batch 6. The D.Camp Batch program is an accelerator that supports rapid growth and commercialisation for deep tech startups.

Open summary
06
Elec4 (Elec4U)

HydroXpand launches compact hydrogen generation systems for labs and field sites

HydroXpand released the HXB-V1, a 2 kW class AEM water electrolysis system, together with the HXS-2 stack, both intended for laboratory and field demonstration use. The two products generate roughly 500 L of hydrogen per hour and ship with desktop control and monitoring software.

Open summary
07
Monthly Hydrogen Economy (H2 News)

Korea to put KRW 93 billion into a ‘bridge’ programme for early-stage hydrogen technology

A report on HyBridge, a new programme planned by Korea’s Ministry of Science and ICT to carry early-stage hydrogen research through to field demonstration, with a target of KRW 93 billion over eight years. The article notes that Korean hydrogen research ranks at the top globally on measures such as paper citations, while the share of that work that reaches commercialisation outside the lab remains low. Illustrating the piece is a photograph of HydroXpand’s 2 kW AEM electrolyzer stack, captioned as “a 2 kW AEM electrolyzer stack built by the startup HydroXpand on a nickel-iron alloy catalyst.”

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08
Monthly Hydrogen Economy (H2 News)

KAIST Startup HydroXpand: Proprietary Technology for AEM Water Electrolysis

Just two years after its founding, this AEM water electrolysis startup has already won the Grand Prize at South Korea’s largest startup competition. Monthly Hydrogen Economy visited HydroXpand’s laboratory to examine its proprietary nickel-iron alloy catalyst technology. The article covers HydroXpand’s self-growing anode and highly dispersed cathode technologies, the roadmap from 2 kW stack deliveries to 30 kW scale-up, and its phased market entry from research and demonstration to industrial deployment. CEO Jonghyun Hyun said: "Technical honesty is our highest value. Where something falls short we do not hide it; we share a clear roadmap for resolving it with the customer."

Open summary
09
Financial News

K-Startup Challenge draws 7,000 teams, and hydrogen production technology takes the spotlight

A follow-up feature on HydroXpand’s technology after its Startup League grand prize at the K-Startup Challenge 2025. The article frames the problem it addresses: steel, chemical and refining processes emit carbon intrinsically, hydrogen is required to cut those emissions, and production cost is what holds it back. It then explains why an anion exchange membrane electrolyzer stack drew attention.

Open summary
10
Yonhap News Agency

HydroXpand and XMUT win the top prizes at the K-Startup Challenge 2025

HydroXpand has won the Grand Prize (Champion of Champions) in the Startup League at ‘K-Startup Challenge 2025,’ the largest-ever competition with a record 7,377 participating teams. The company beat out competition at a ratio of 369 to 1 in South Korea’s largest startup competition, jointly operated by 10 government ministries. HydroXpand received high marks for developing a high-efficiency AEM (Anion Exchange Membrane)-based water electrolysis stack designed to address the high-cost challenges of the electrolysis process. Alongside the KRW 300 million (approx. USD 210,000) prize, the company also receives follow-up support such as preferential evaluation in 2026 government startup support programmes.

Open summary
11
The Chosun Ilbo

KAIST Alumni Finally Crack the 'Clean Hydrogen' Dream of Steel Mills and Refineries Worldwide

Chosun Ilbo's The Vivid met with CEO Hyun Jong-hyun following his Grand Prize win at the Chung Ju-yung Startup Competition Climate Tech track. The feature covers everything from the decision to start the company based on AEM electrolyzer research conducted during his KAIST doctoral program, to the milestones of raising KRW 500 million in Seed funding and KRW 1.5 billion in Pre-Series A funding, and surpassing KRW 20 million in monthly recurring revenue (MRR). CEO Hyun stated: "Entrepreneurship is the attitude of solving a problem completely. You must go beyond doing what others do just a little better and move in a direction nobody has taken before."

Open summary
12
Newspim

Nine Korean hydrogen companies hold a roadshow in Guangdong

KIC China, the global innovation centre under Korea’s Ministry of Science and ICT, co-hosted a K-Demo Day with the Guangdong Department of Science and Technology, with nine Korean hydrogen companies taking part, HydroXpand among them. Held during the Greater Bay Area science forum, the event drew some 250 participants from government, industry and research institutes in both countries to discuss technical exchange, commercialisation and joint demonstration.

Open summary
13
Maeil Business Newspaper

FuturePlay named a top operator of the 2025 public-private IP strategy programme

FuturePlay was named a top operator of the CIPO programme run by Korea's IP authority and the Korea Invention Promotion Association. The article notes that HydroXpand, a 2024 participant, continued to build IP-based technical strength after the programme ended, through patent filings, certification as an outstanding employee-invention company, and an encouragement award in the K-Startup Challenge IP League.

Open summary
14
Shinailbo

Daejeon Center for Creative Economy and Innovation emerges as a social impact hub

A report on Be.cause 2025, a results-sharing event where social ventures in Daejeon presented a year of progress. HydroXpand CEO Jonghyun Hyun took part in the round talk for selected companies, discussing how the company built its business model and how it plans to expand.

Open summary
15
Maeil Business Newspaper

Asan Nanum Foundation wraps up the 2025 Chung Ju-yung Startup Competition demo day

HydroXpand won the Grand Prize in the Climate Tech track at the 14th Chung Ju-yung Startup Competition, the largest private-sector startup competition in Korea. Inspired by Hyundai founder Asan Chung Ju-yung's words, "If there is no road, find one; if you cannot find one, make one," the competition distributed a total prize pool of approximately KRW 370 million. Combined with the Grand Prize at the K-Startup Challenge, HydroXpand achieved a "Double Grand Prize" sweep at Korea's two biggest startup competitions. Winners receive residency at the Asan Nanum Foundation's MARU workspace, investor referrals, one-on-one mentoring and corporate partnership benefits worth approximately KRW 1.4 billion.

Open summary
16
Edaily

KIPO holds the awards ceremony for its 2025 IP startup competition

HydroXpand received an encouragement award at the awards ceremony for the 2025 IP Startup Competition (IP League) held by the Korean Intellectual Property Office. Winners also received entry to the finals of the K-Startup Challenge 2025, the government-wide startup competition, where HydroXpand went on to take the Startup League grand prize three months later.

Open summary
17
Electronic Times (etnews)

KAIST’s Fast Prototyping programme and the hardware startups behind it

A report on results from KAIST Startup Institute’s Fast Prototyping programme, which funded prototype builds for 14 KAIST spin-offs. The article cites HydroXpand as one of its lead cases, noting that the company raised pre-Series A funding on its next-generation water electrolysis technology and has signed supply agreements with global customers, including a partner organisation of Saudi Aramco.

Open summary
18
ZDNet Korea

LG Superstart exhibits at NextRise 2025

LG ran a Superstart booth at NextRise 2025, an event drawing some 1,600 startups and 250 corporates and venture capital firms, presenting the eight startups in its third incubator cohort. HydroXpand was one of the eight.

Open summary
19
MoneyToday Unicorn Factory

As the Climate Crisis Deepens, Investment Flows to Hydrogen Startups

Unicorn Factory conducted an in-depth feature on HydroXpand's technology and founding story following its Pre-Series A funding. Going beyond the mere investment news, the piece analyzed the challenges facing the hydrogen economy and why AEM electrolyzer technology could be the solution. All three co-founders hold master's and doctoral degrees from KAIST's Department of Chemical and Biomolecular Engineering, and are hydrogen specialists who have published more than 10 papers ranked in the top 1% of JCR journals in hydrogen research. CEO Hyun Jong-hyun emphasized: "Through the technical capability and execution of Korean engineers, we intend to prove that Korean water electrolysis technology can compete on the world stage."

Open summary
20
Platum

HydroXpand raises pre-Series A funding on its anion exchange membrane electrolysis technology

HydroXpand has successfully closed its Pre-Series A investment round. Korea Investment Accelerator, Company K Partners, and IBK Capital joined as new shareholders. The investment will be directed toward advancing the development of anion exchange membrane electrolyzer stacks and scaling the 2 kW module to a 30 kW system. Byun Sang-hoon, analyst at Korea Investment Accelerator, stated: "HydroXpand possesses world-class AEM electrolyzer stack technology with the potential to transition the existing gray hydrogen system to a green hydrogen paradigm, which is why we decided to invest."

Open summary
21
Digital Times

LG steps up its clean tech push with startup partners

HydroXpand has been selected as a clean tech startup for the 3rd cohort of the LG Super Start Incubator. Introduced as a company with "proprietary high-efficiency technology for clean energy hydrogen production," HydroXpand will gain opportunities for Proof of Concept (PoC) validation, collaboration, and advisory sessions with LG affiliates. Five of the 18 companies in the third cohort are clean tech startups, doubling LG’s clean tech portfolio in the programme from five to ten.

Open summary
22
IT Donga

Startup KAIST Global Studio: supporting its cohort companies to go worldwide

A report introducing the cohort of Startup KAIST Global Studio, a KAIST programme built around overseas expansion. HydroXpand was listed among the clean tech companies worth watching, described as an anion exchange membrane water electrolysis company.

Open summary
23
Aju Business Daily

KAIST to showcase its startups' technology at CES 2025

KAIST ran a dedicated booth in Eureka Park, the startup hall at CES 2025, presenting technology from fifteen of its spin-offs. HydroXpand was one of the fifteen.

Open summary
24
Seoul Economic Daily

FuturePlay wraps up its CIPO programme, citing IP results from the startups

A report on the results of the 2024 public-private IP strategy programme (CIPO) run by the Korean Intellectual Property Office and the Korea Invention Promotion Association. HydroXpand was one of five companies that received support for IP analysis, proof of concept and technical validation, and per the article was awarded a Chamber of Commerce Chairman's Prize for the results.

Open summary
25
News2day

IBK Industrial Bank holds its second-half IBK Changgong demo day

A report from the second-half 2024 demo day of IBK Changgong, the startup incubation platform run by the Industrial Bank of Korea. HydroXpand presented as a manufacturer of modular anion exchange membrane electrolyzer stacks, explaining green hydrogen production coupled to renewable power.

Open summary
26
Asia Economy

Dong-A Hwa Sung Signs MOU with HydroXpand for AEM Electrolyzer System Development

Dong-A Hwa Sung and HydroXpand have signed a Memorandum of Understanding (MOU) for the joint development of AEM water electrolysis systems. Both companies plan to collaborate on the co-development and commercialization of systems based on anion exchange membrane electrolyzer technology. By combining HydroXpand's AEM electrolyzer stack expertise with Dong-A Hwa Sung's system capabilities, the two companies aim to accelerate the commercialization of next-generation hydrogen production technology.

Open summary
Industry explainers / Korean blog

Hydrogen questions,
answered in plain language

Our industry explainers are currently published in Korean. The blog covers technologies, policy and use cases beyond HydroXpand news.

KOKorean-language publication

The articles are written for readers comparing hydrogen technologies, policy and applications. English editions are not yet published.

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