Renewable Energy

BNOW, KOSME program supports entry of Korean companies into US offshore wind market

June 9, 2022

The Business Network for Offshore Wind (BNOW) and partner KOSME have launched the U.S. Offshore Wind Pathway Program to support the entry of Korean-based offshore wind companies in the U.S. offshore wind market.

Offshore staff

BALTIMORE, MD — The Business Network for Offshore Wind (BNOW) has launched the U.S. Offshore Wind Pathway Program, a new partnership with the Korea SMEs and Startups Agency (KOSME), to support the entry of Korean-based offshore wind companies in the U.S. offshore wind market.

Starting this month, BNOW will host 10 companies, selected by KOSME, providing education, business mentoring and access to networking events over a 15-week period.

BNOW's International Offshore Wind Partnering Forum in late April drew more than 3,000 attendees representing 25 countries across Europe, Asia and South America. KOSME is the inaugural partner for the Pathway Program, which was created to help small and medium-sized international enterprises and startups enter the U.S. offshore wind supply chain by localizing their products and technologies.

“From the New York Bight and Carolina Long Bay lease auctions to the upcoming leases in California and the Gulf, and the recently announced Pacific and Mid-Atlantic lease areas, the long-term success of the U.S. offshore wind industry will require a strong domestic supply chain and expansive manufacturing capabilities," BNOW CEO Liz Burdock said. "Korean businesses recognize the vast potential of offshore wind power in the United States and are making investments now to help grow the supply chain and accelerate growth."

The partnership with KOSME will include BNOW's Foundation 2 Blade training, which helps companies understand the U.S. market, where they fit in and how they can seamlessly enter the supply chain. It will also match Korean companies specializing in all aspects of offshore wind, from floating offshore wind body structure, substation design and engineering, digital automation, to raw materials and parts, with U.S.-based mentors who will provide one-on-one assistance in developing a tailored market strategy and business plan, and customized training on the U.S. offshore wind industry, from permitting to construction.

The Pathway Program is open to countries interested in helping its businesses successfully enter the U.S. offshore wind industry. Ten companies were selected as part of the inaugural cohort: