Won Kwang S&T Co.,Ltd.

What Won Kwang S&T Co.,Ltd. does

Won Kwang S&T Co., Ltd. (주식회사 원광에스앤티) is a South Korea-based solar energy and resource circulation company founded in 2014 and headquartered in Incheon, with Lee Sang-hun as CEO. The company operates an integrated solar PV lifecycle platform spanning two business divisions: (1) Solar PV EPC and repowering — including design, construction, decommissioning, operation, and maintenance for utility-scale, rooftop, agricultural, floating, and BIPV solar installations — and (2) Resource circulation — collection, transport, and recycling of end-of-life (EOL) PV modules using the company's proprietary partial local heating separation technology (국부가열분리기술). The company also sells complementary products including ESS container systems, BIPV modules, solar roof systems, agricultural PV, and floating PV, and has extended into waste battery recycling as a future vertical.

The company's core technological foundation is its patented partial local heating separation method, which is the first commercialization of this approach in Korea. The technique applies localized heat to specific areas of EOL solar modules to cleanly separate glass, aluminum frames, junction boxes, and solar cells without chemical treatment or high-temperature thermal processing, achieving a reported 95%+ material recovery rate. The SolreBorn mobile pre-processing system — the world's first of its kind — packages this capability in a 40-foot container, enabling on-site processing at demolition sites and reducing logistics volume by 80%+. The company holds multiple regulatory firsts: Korea's first Ministry of Environment regulatory sandbox approval for on-site EOL PV module recycling, the first comprehensive EOL PV module recycling business permit, and the first Circular Resource Recognition from the Korea Environment Corporation.

Revenue is generated through project-based EPC contracts, repowering project fees, volume-based recycling processing fees, O&M service subscriptions, sales of high-purity recycled materials (silicon metal powder, copper alloy, low-iron tempered glass, aluminum), and hardware sales of solar products. The go-to-market is primarily direct enterprise sales to government entities, power plant operators, and commercial building owners, supplemented by government procurement platforms (G2B), Korea Energy Agency ReSCO program participation (one of only 149 companies nationwide), and active participation in domestic and international trade shows including CES 2026, RE+ 2024, and Korean Green Energy Expos. The company is expanding internationally via partnerships targeting Australia (UNSW), USA (G ITECH), and Japan.

Name

Won Kwang S&T Co.,Ltd.

Legal name

(주)원광에스앤티

Website

https://wksnt.com

Company type

Private

Founded year

2014

Operating status

Operating

Short description

Won Kwang S&T is a South Korean integrated solar PV lifecycle company providing EPC, repowering, O&M, and proprietary end-of-life module recycling through its patented partial local heating separation technology and the SolreBorn mobile pre-processing equipment, serving government, utility, and enterprise customers.

Ownership category

akta.pro rank

Product category

Solar PV EPC and Recycling Services

NAICS

Solar Electric Power Generation (221114)

akta.pro industry

PRIMARYEUAMABAM

Solar End-of-Life, Recycling & Decommissioning (Panels, Inverters, Racking)

Energy, Utilities & Environment/Renewable Energy (Solar, Wind, Hydro & Geothermal)/Solar Energy (PV, CSP, Rooftop & Utility-Scale)

SECONDARYEUACAGAM

Decommissioning, Recycling & End-of-Life Services (Module Recycling, Site Restoration)

Energy, Utilities & Environment/Electric Power Generation/Solar Power Generation (Utility-Scale PV & CSP)

SECONDARYEUACAGAJ

Repowering, Retrofit & Life-Extension (Inverter Replacements, Tracker Upgrades, Controls)

Energy, Utilities & Environment/Electric Power Generation/Solar Power Generation (Utility-Scale PV & CSP)

SECONDARYEUAEAGAB

Renewable Energy Asset O&M (Wind, Solar, Hydro, Geothermal)

Energy, Utilities & Environment/Energy Infrastructure & Services (EPC, O&M, Field Services)/Operations & Maintenance (O&M) Services for Energy Assets

Keywords

• Solar PV EPC
• PV module recycling
• Solar repowering services
• Resource circular economy
• Building integrated photovoltaics

Headquarters

HQ city

Incheon (Seo-gu)

HQ country

South Korea

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Solar PV EPC (Engineering, Procurement, Construction): Design, construction, installation, and maintenance of solar power plants including rooftop solar, solar farms, floating photovoltaics, and BIPV systems. Revenue generated from project-based EPC contracts with power plant operators, commercial buildings, and government entities.
2. Repowering Services: Replacement of aging solar power plant equipment (modules, inverters) with latest high-efficiency technology. Includes demolition of existing facilities, disposal/recycling of EOL modules, and new installation. Generates revenue from project fees and equipment margins.
3. EOL PV Module Recycling: Collection, transportation, and recycling of end-of-life solar modules. The company holds comprehensive recycling business permits and generates revenue by processing modules and selling recovered materials (silicon metal powder, copper alloy, low-iron tempered glass, aluminum). Expanded by building the Naju Future Waste Resource Circular Resource Center with 10,000 tonnes/year processing capacity.
4. Solar PV O&M Services: Ongoing operations and maintenance services for solar power plants including monitoring, fault diagnosis, module repair, and performance optimization. Revenue from annual service contracts with plant operators.
5. Recycled Material Sales: Sale of high-purity recycled materials recovered from EOL solar modules including silicon metal powder, copper alloy, low-iron tempered glass, and aluminum. Materials are sold to various industries including secondary battery, semiconductor, construction, and manufacturing sectors. Won 'Circular Resource Certification' (순환자원 인정) from Ministry of Environment.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Won Kwang S&T provides end-to-end solar photovoltaic (PV) lifecycle services spanning EPC design and construction, O&M, repowering of aging solar plants, and proprietary end-of-life (EOL) PV module recycling. Its flagship offering is the SolreBorn mobile pre-processing equipment, the world's first containerized system that separates glass, aluminum frames, junction boxes, and solar cells on-site using patented partial local heating separation technology, achieving over 95% material recovery and reducing logistics volume by 80%+.

Product overview

Won Kwang S&T Co., Ltd. (원광에스앤티) is a future waste-resource energy solutions company offering a one-stop solar PV lifecycle platform spanning two core divisions: (1) Solar PV EPC & Repowering — covering project planning, design, construction, operation, decommissioning, and recycling of EOL PV modules — and (2) Resource Circulation — providing EOL solar panel collection, transport, and recycling via proprietary local partial-heating separation technology. Key products include the mobile SolreBorn pre-processing equipment for on-site EOL panel recycling, a full range of PV products (Excellent Procurement Products, Solar Roof, Agricultural Solar, ESS, BIPV, Floating PV), and the award-winning Solar Power Compensation System. The company is the only domestic provider offering integrated solar EPC combined with EOL module recycling under one roof.

Differentiator

Problem solved

Functional benefit

Brands

• SolreBorn: 세계 최초 이동형 태양광 폐패널 전처리 장비 - 40피트 컨테이너 내부에 재활용 공정 3종 장비(프레임 및 정션박스 해체기, 실란트 제거기, 유리 분리기)를 일체형으로 구성. CES 2026 혁신상 수상.
• 국부가열분리기술

Products and services

• SolreBorn (솔리본) Mobile EOL PV Module Pre-processing Equipment World's first mobile-type EOL solar PV module pre-processing equipment housed in a 40-foot container, integrating three process units: frame and junction box disassembler, sealant remover, and glass separator. Processes modules directly at demolition sites, reducing logistics volume by up to 85% and enabling recovery of aluminum, glass, and junction boxes on-site. Sold to solar plant operators, demolition contractors, and recycling firms.
• EOL PV Module Recycling Service (폐모듈 재활용 사업) Collection, transportation, and recycling of end-of-life solar PV modules using proprietary Partial Local Heating Separation Technology. Recovers high-purity aluminum, silicon metal powder, copper alloy, and low-iron tempered glass. The company holds the comprehensive recycling business permit needed to issue official disposal plans and confirmation documents for repowering projects. The Naju Future Waste Resource Circular Resource Center under construction targets 10,000 tonnes/year capacity. Serves solar plant operators, construction companies, and demolition contractors.
• Solar PV EPC and Repowering Service (태양광 발전 EPC 및 리파워링) End-to-end solar PV power plant services including design, construction, decommissioning, and repowering of existing plants. Covers RPS power generation projects, direct PPA for corporate RE100 procurement, government-supported housing solar, BIPV, agricultural solar, and floating photovoltaics. Provides legally valid disposal plans and confirmation documents for EOL modules during repowering. Targets power plant operators, commercial building owners, and government entities.
• Solar PV O&M Service (태양광 O&M) Ongoing operations and maintenance services for solar PV power plants including monitoring, fault diagnosis, module repair, and performance optimization. Revenue generated from annual service contracts with plant operators.
• BIPV - Building Integrated Photovoltaics (BIPV / WK-BP, WK-BPC, WK-BPG series) Building-integrated solar PV modules that serve as exterior building materials and power generators. Includes standard, color, and window-type BIPV products (WK-BP, WK-BPC, WK-BPG series) ranging from 1-100kW. Features anti-glare low-iron tempered glass, 145Wp/m² output, glass-to-glass and glass-to-backsheet configurations, and 25-year warranties on color change and electrical performance. Registered as Korea government procurement excellent products.
• ESS Container System (Energy Storage System) Container-type energy storage system with integral and segmented configurations. Includes PMS for monitoring and plant control, PCS for AC/DC conversion, Battery with BMS management, and remote temperature control. Available with transformer or transformerless PCS types, forced-air cooling, eco-friendly fire suppression, and nationwide after-sales service. Targets solar PV plant integration and grid stabilization customers.
• Agricultural Solar PV System (영농형 태양광 / Agri-PV) Solar power system co-located on farmland enabling simultaneous crop cultivation and electricity generation. Designed to share sunlight - using excess light beyond crop photo-saturation point for PV generation. Won Kwang S&T holds multiple patents and design rights for agricultural solar PV devices. Targets farmers and agricultural cooperatives.
• Floating Photovoltaic System (수상태양광) Floating solar PV system installed on water surfaces (reservoirs, dams, ponds) using buoyant bodies. Achieves higher efficiency than land-based systems due to water cooling effect lowering module temperature. Supports both structural float and integrated float types depending on water level variability.
• Solar Roof System (솔라루프) Roof-integrated solar PV system that overlays photovoltaic modules onto existing or new roof panels using a rail structure. Combines roof renewal, waterproofing, and insulation via polyurethane panels without requiring structural work. Enables solar power generation business on idle factory roof space.
• Solar Power Compensation System (전력보상시스템) Power compensation device using Buck boost and Converter power control with MPPT tracking. Synchronizes output of modules in shaded areas with neighboring maximum-output modules through impedance matching via microcontroller control, maximizing power generation efficiency. Registered as a government procurement excellent product. Won Excellent Award at the 1st SME Technology Market in 2025.
• EOL Battery Recycling Service (폐배터리 재활용 사업) End-of-life battery recycling business listed under the company's resource circulation business division alongside the EOL PV module recycling service. Listed on the company website navigation but no specific operational details are evidenced in the available source data.
• Recycled Materials from EOL PV Modules (자원순환 소재) High-purity recycled materials recovered from EOL PV modules including silicon metal powder, copper alloy, low-iron tempered glass, and aluminum. Materials are sold to secondary battery, semiconductor, construction, and manufacturing sectors. The company received Circular Resource Certification (순환자원 인정) from the Ministry of Environment, eliminating waste management classification under the Waste Management Act.

Quantifiable outcome

• 80%+ logistics cost reduction through on-site EOL module pre-processing with SolreBorn equipment
• +4 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature6 records

Partnerships

Six partnerships are on record, tiered core and minor.

• G ITECH (지아이텍)coreTechnology or Integration · 28 April 2026G ITECH, a precision parts and equipment specialist, signed MOU for equipment enhancement and global business cooperation in EOL solar panel re-resourceization. G ITECH will apply its precision parts and equipment technology to improve Won Kwang S&T's recycling equipment, focusing on increasing resource recovery rates and integrating automation and AI analysis. G ITECH's 'RAVID AI' vision inspection solution will be embedded for quality control across the recycling process. G ITECH also plans to expand its business portfolio into the solar re-resource sector. For the US market, G ITECH's local subsidiary will provide after-sales service (A/S) for equipment.
• NTB (엔투비) / POSCO GroupcoreStrategic or Co-development Partner · 13 November 2024NTB (POSCO Group company) signed MOU for developing EOL solar module circular resource model and establishing a circular economy ecosystem. Won Kwang S&T will produce and stably supply high-quality recycled materials (silicon metal powder, copper alloy, low-iron tempered glass, aluminum) through its EOL module recycling process. NTB will supply raw materials to POSCO Group companies and develop new sales channels, product development, and marketing for the circular resource value chain.
• UNSW (University of New South Wales)coreStrategic or Co-development PartnerWon Kwang S&T and UNSW's Dr. Kim Moon-yong research team were jointly selected for Australia's Global Connection Fund project. Total grant of 560,733 AUD (~5.2 billion KRW) supports renewable energy research including mobile recycling technology. UNSW's School of Photovoltaic & Renewable Energy (SPREE) is internationally recognized for solar energy research. The project aims to establish a regulatory analysis working group on environmental, transport, and waste management regulations affecting mobile recycling business.
• MICO (미코) and Korea Institute of Energy Technology (한국에너지기술研究院)coreStrategic or Co-development PartnerWon Kwang S&T serves as the lead institution for the 2025 Solar Panel Recycling Technology Development Project, a 160 billion KRW government-funded national R&D project running from April 2025 to December 2028 (45 months). Seven institutions including MICO and KETEK collaborate on developing on-site mobile recycling equipment and improving fixed facility performance. The project includes overseas demonstrations (minimum 5 times) in high solar-adoption markets like Australia.
• Korea Institute of Energy Technology Evaluation and Planning (한국환경산업기술원)coreStrategic or Co-development PartnerKETEK (Korea Environment Corporation) is a key government partner supporting the company's regulatory sandbox initiatives and environmental certifications. KETEK administers the circular economy regulatory sandbox program under which Won Kwang S&T received Korea's first on-site EOL PV module recycling approval.
• Jeollanam-do and Naju CityminorOthersWon Kwang S&T is building its Future Waste Resource Circular Resource Center in the Naju Innovation Industrial Complex (part of the 'Energy Valley' district) with support from Jeollanam-do and Naju City local governments. Groundbreaking ceremony on April 11 was attended by Naju Mayor Yoon Byung-tae, Naju City Council Chairman Lee Jae-nam, and Jeollanam-do Provincial Council member Choi Myung-soo.

Scale indicators14 records

Recent moves7 records

Expansion highlights8 records

Direct peers

• ROSI Solar: French PV recycling startup using physical separation and high-purity material recovery to deliver silicon, silver, and copper back into the solar supply chain. Closely comparable in approach (physical recycling, high-purity outputs) and stage to Won Kwang.
• First Solar: US-based thin-film PV manufacturer with its own module recycling program (Solvia) recovering up to 95% of semiconductor materials. Directly comparable as a vertically integrated solar company operating its own end-of-life recycling technology and supply chain.
• Reiling GmbH: German recycling specialist operating one of Europe's largest solar glass recycling lines. Direct peer in PV recycling with focus on recovering glass and metals from EOL modules.
• SolarCycle: US-based PV recycling startup building high-throughput recycling capacity for end-of-life solar panels. Direct competitor in the emerging PV recycling category with overlapping customer base of developers and asset owners.

Broad incumbents

• Trina Solar: One of the world's largest PV module manufacturers, with active initiatives on module recycling and circular supply chains. Broad incumbent operating globally across the solar value chain that Won Kwang serves.
• Hanwha Q Cells: Korean-headquartered global PV manufacturer (formerly Hanwha SolarOne) with utility-scale modules and growing interest in circularity. Broad incumbent operating across the same solar value chain in Korea and globally.
• SunPower: US-based residential and commercial PV company with module take-back and recycling programs. Comparable as a broader solar industry incumbent addressing EOL module management at scale.
• Veolia: Global environmental services giant operating hazardous waste and PV panel recycling facilities in Europe. Comparable as a broad incumbent offering EOL PV services as part of a wider recycling portfolio.
• LONGi Green Energy Technology: World's largest monocrystalline silicon wafer and module producer with growing circularity initiatives and module recycling partnerships. Broad incumbent in the global solar value chain with overlapping downstream material interests.
• Suez: Global environmental services and water management company with waste recycling operations across Europe, including WEEE and PV-related streams. Broad incumbent in resource recovery adjacent to Won Kwang's recycling business.

Market position

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights1 record

Customer concentration

Compliance13 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Won Kwang S&T Co.,Ltd.