South Jeolla Technopark key nurturing company
The Dream Global Co., a renewable energy company nurtured under South Jeolla Technopark's energy industry development program, has signed three MOUs with Vietnam's GIGITO covering renewable energy and resource recycling.
South Jeolla Technopark said the agreements cover three projects: construction of a 25-megawatt biomass power plant using agricultural byproducts in Sóc Trăng Province, establishment and operation of a cashew nut shell (CNSC) pyrolysis recycling facility in Đồng Nai Province, and establishment and operation of a waste-tire pyrolysis recycling facility, also in Đồng Nai Province.
The two companies aim to begin operating the pyrolysis recycling facilities next year and the biomass power plant in 2028.
The agreements carry particular weight because the commercial viability of the projects has already been substantially established.
The 25-megawatt biomass power plant is listed in Vietnam's National Power Development Plan (PDP8) and holds all the legal authorizations required to proceed, making early commercialization highly likely.
The plant will run on locally sourced agricultural byproducts. GIGITO will serve as the lead investor, overseeing total project funding, while The Dream Global will provide technical solutions for plant configuration and overall operations, drawing on South Korea's advanced renewable energy expertise.
The two pyrolysis recycling units to be built in Đồng Nai Province will process cashew nut shells and waste tires to recover high-value materials including bio-heavy oil, biochar, pyrolysis oil and carbon black.
Output will be sold both locally and through exports to secure a stable revenue model. The Dream Global will handle engineering, procurement and construction (EPC) as well as operational technology transfer, while GIGITO will manage total project funding, supply chain development and regulatory approvals — a division of roles designed to accelerate commercialization.
Building on the agreements, The Dream Global is pursuing a technology transfer from the Korea Institute of Energy Research (KIER) for its cashew nut shell pyrolysis technology.
Applying domestically proven technology to facilities in Vietnam is expected to raise the level of commercial readiness while producing tangible results in the form of overseas demonstration and exports of South Korean research outcomes.
The Dream Global specializes in solar power and microgrid EPC and energy storage systems, and has carried out numerous overseas projects — including KOICA ODA initiatives — in Vietnam, Kyrgyzstan, Colombia, Nepal and the Democratic Republic of Congo.
"Through these agreements, we have given concrete shape to a business model that converts agricultural byproducts and waste resources in Vietnam into energy and recycled materials," said Yun Chun-i, chief executive of The Dream Global. "By integrating KIER's pyrolysis technology, we will contribute to greenhouse gas reduction and the realization of a circular economy, while building a model case for renewable energy cooperation between South Korea and Vietnam."
parkds@heraldcorp.com
