Im Ji-soon, a world-renowned scholar in the field of physics, has taken on a new role as the head of a startup at the age of 74. He has ventured into founding a company to commercialize the direct air capture (DAC) technology for carbon dioxide that he has been researching for several years.

Meeting with Professor Im on the 17th at Seoul National University in Gwanak-gu, Seoul, he said, "I always talked about the need to start a business, but I thought it was unreasonable that I had no experience," and noted, "Staying still just because I’m old is merely an excuse."

Im Ji-soon, a chair professor at Ulsan National Institute of Science and Technology, has started a climate technology startup. The photo shows Professor Im posing in his lab at Seoul National University./Courtesy of Joo Wan-joong.

◇ Physics genius takes on the climate crisis

Professor Im rose to fame as a star scientist with his carbon nanotube research published in the journal "Nature" in 1998. Carbon nanotubes are materials formed by carbon atoms connected in a hexagonal configuration like a honeycomb, known for their high conductivity and strength. He was praised for being the first to clarify that bundling high-conductivity carbon nanotubes eliminates metallic properties and imparts semiconductor characteristics, bringing him close to winning a Nobel Prize.

He achieved top rankings at Gyeonggi High School, secured first place in the nationwide university entrance mock exam, and topped the Seoul National University entrance exam. He became a distinguished professor at Seoul National University in his 40s, and in 2011, he was elected as a foreign lifetime member of the National Academy of Sciences (NAS), becoming the third Korean to receive this honor. He has received nearly all awards available to scientists, including the Korea Science Award in 1996, the Scientist of the Year Award in 1998, the Inchon Prize in 2004, the Cheongam Prize in 2007, and the Hoam Prize in 2024. As he approached retirement at Seoul National University, he moved to Pohang University of Science and Technology (POSTECH) in 2016, then returned to Ulsan National University as a distinguished professor last year.

The area of interest that Professor Im has pursued for the past few years is carbon capture, utilization, and storage technology, which seems unrelated to his research background. Among these, he has jumped into the development of the direct air capture (DAC) technology that captures carbon dioxide directly from the atmosphere. He said, "Although I was doing solid-state physics, I realized late that this field is important and decided to dive in," and noted, "Overcoming the climate crisis is a shared problem of humanity."

Using his expertise in researching carbon nanotubes, he created a hybrid compound called "SPOIC" that can effectively capture carbon dioxide. SPOIC has ultra-fine holes that allow carbon dioxide to enter.

Elon Musk, the founder of the electric vehicle company Tesla, held a competition in 2021 in cooperation with the international nonprofit organization XPRIZE, offering a prize of $100 million (about 140 billion won) to startups developing direct air capture technology. Professor Im also entered this competition. He was among the 287 teams that made it to the finals out of over 5,000 teams worldwide but unfortunately did not advance to the final round.

The DAC plant completed by Climeworks in the Hinwil region of Zurich, Switzerland, in 2017. This plant is the world's first commercial DAC plant./Courtesy of Climeworks.

Although this was already a significant achievement, Professor Im did not stop. He ventured into founding a company to develop a capture device equipped with the SPOIC he developed. In March, he established a company called "Carvolution" in Ulsan. He mentioned, "For now, I serve as both the CEO and Chief Technology Officer (CTO), but I have selected a separate CEO to handle management," adding, "I have received commitments for initial investments from several investment companies, and I plan to begin full-scale research in April."

Direct air capture of carbon dioxide is being highlighted as a technology for the world to respond to climate change. It is one of the four climate technologies selected by the Breakthrough Energy Catalyst (BEC) established by Microsoft founder Bill Gates. The United States and the European Union (EU) are already making significant investments at the government level. Global unicorn companies like Climeworks and Carbon Engineering have also emerged.

Professor Im believes that while his start may be late, the advanced technology could surpass global corporations. He emphasized that the core of DAC is the performance of the substance that captures carbon dioxide, asserting that the capture rate of the SPOIC he developed is higher than anywhere else in the world. The concentration of carbon dioxide in the atmosphere generally hovers around 420 ppm (1 ppm is one part per million), and capturing over 75% of this is considered successful. He stated, "The capture rate of our capture agent reaches 95%" and added, "We are sufficiently competitive."

People who founded Carbolex using carbon dioxide capture technology. From left, CEO Kim Kyung-won, chair professor Im Ji-soon from Ulsan National Institute of Science and Technology, chair professor Hwang Seung-jin from Stanford University in the U.S., and co-founder Choi Byeong-ho./Courtesy of Im Ji-soon.

◇ A dream team in twilight... "No excuses for being old"

Professor Im has set a goal to develop a carbon capture module by the end of next year. He plans to utilize the wind tunnel laboratory at Ulsan National University to develop a capture module equipped with the capture agent. He has also laid out specific commercialization plans.

To capture carbon dioxide from the atmosphere, strong winds must be generated to pass carbon dioxide through the capture module. Carvolution plans to attach the capture module to wind turbines where winds naturally blow strongly or to ships at sea. Professor Im mentioned, "Our unique idea is to capture carbon dioxide using natural winds" and noted, "It has even greater advantages because it is energy-efficient."

There are others who have supported Professor Im's late challenge. Hwang Seung-jin (73), a Korean venture capitalist in Silicon Valley and an emeritus professor at Stanford Graduate School of Business, has joined as a co-founder of Carvolution and participates on its board. Professor Im said, "The addition of my longtime friend Dr. Hwang has been a great help," and noted, "As he is influential in Silicon Valley, he will also be of great assistance when Carvolution conducts business in the United States." One of the leading scholars in polymer science, Jo Gil-won (69), a professor of chemical engineering at Pohang University of Science and Technology (POSTECH), has also joined as a founding member of Carvolution.

What led Professor Im to enterprise in a startup at an age when others may retire? He explained, "While developing carbon capture technology, I felt that if it doesn't become commercialized, my research will be meaningless," and concluded, "To contribute my research outcomes to society, I decided to start a company."