๐Ÿ”ด Bโ˜… ๋‹จ๋… ์ •์ฑ…

eCO2 B Standalone ๋‹จ๋… ๊ธฐ์ค€. All plans are based solely on eCO2 Bโ˜… Standalone.

ยง0 ์‚ฐ์ถœ๋ฌผ

ยง1 ๋น„์ „ ๋ฐ ๋ชฉํ‘œ

๊ตฌ๋ถ„ ๋ชฉํ‘œ ๊ธฐํ•œ KPI
๋น„์ „ eCO2 Bโ˜… ๊ธ€๋กœ๋ฒŒ ์‚ฐ์—…์šฉ CO2 ํžˆํŠธํŽŒํ”„ 1์œ„ 2030 ์‹œ์žฅ์ ์œ  2%+
P1 4์œ ๋‹› ์ถœํ•˜ ยท ์ˆ˜์ฃผ 8๊ฑด 2026-12-31 ๋งค์ถœ $4.5M
P3 40์œ ๋‹› ยท $54M 2028-12-31 EBITDA BEP
P5 250์œ ๋‹› ยท $162M 2030-12-31 EBITDA 44% ยท IRR 34.2%
์žฌ๋ฌด NPV $42.3M ยท IRR 34.2% 2030 WACC 12% ์ดˆ๊ณผ
์ธ์ฆ KGSยทKTLยทSIL-2ยทCEยทASME 2027-Q4 10๊ฐœ ์ธ์ฆ์„œ

ยง2 ํ†ตํ•ฉ ๋งˆ์ผ์Šคํ†ค 18์„ 

ID ๋งˆ์ผ์Šคํ†ค ์ฑ•ํ„ฐ ์™„๋ฃŒ์ผ ๋‹ด๋‹น ์ƒํƒœ
M01 KGS AC113 ์‚ฌ์ „ํ˜‘์˜ ์‹ ์ฒญ Ch.8 2026-04-30 CTO ๐Ÿ”ด ์ฆ‰์‹œ
M02 CO2 ๊ธด๊ธ‰ SOP ์™„๋น„ Ch.12 2026-03-31 HSE ๐Ÿ”ด ์ฆ‰์‹œ
M03 PCHE 2์ฐจ ๊ณต๊ธ‰์‚ฌ ๊ณ„์•ฝ Ch.12 2026-04-15 CPO ๐Ÿ”ด ์ฆ‰์‹œ
M04 PCHE Alfa Laval ๋ฐœ์ฃผ Ch.9 2026-03-25 CPO ๐Ÿ”ด ์ฆ‰์‹œ
M05 SiC MOSFET ์„ ๋ฐœ์ฃผ Ch.9 2026-04-10 CPO ๐ŸŸ  ์ด๋ฒˆ์ฃผ
M06 ํ™˜ํ—ค์ง€ ๊ณ„์•ฝ ์ฒด๊ฒฐ Ch.12 2026-04-10 CFO ๐ŸŸ  ์ด๋ฒˆ์ฃผ
M07 KTL IEC 60335 ์˜ˆ๋น„์‹œํ—˜ Ch.8 2026-06-30 QA ๐ŸŸก Q2
M08 SIL-2 3๊ฐœ ํ•ญ๋ชฉ ๋ณด๊ฐ• Ch.8 2026-06-30 ์•ˆ์ „ํŒ€ ๐ŸŸก Q2
M09 P1 ์ œ์กฐ ์ฐฉ์ˆ˜ Ch.9 2026-07-15 ์ƒ์‚ฐํŒ€ ๐ŸŸก Q2
M10 ์ฝœ๋“œ์ฒด์ธ Top4 ์˜์—… PT Ch.11 2026-06-30 ์˜์—…ํŒ€ ๐ŸŸก Q2
M11 TรœV SIL-2 ์‚ฌ์ „๊ฒ€ํ†  Ch.8 2026-07-31 ์•ˆ์ „ํŒ€ ๐ŸŸก Q2
M12 KGS AC113 ๋ณธ์ธ์ฆ Ch.8 2026-09-30 CTO ๐ŸŸก Q3
M13 P1 ์กฐ๋ฆฝ ์ฐฉ๊ณต Ch.9 2026-09-30 ์ƒ์‚ฐํŒ€ ๐ŸŸก Q3
M14 ์ˆ˜์ฃผ 4๊ฑด ํ™•์ • Ch.11 2026-09-30 CSO ๐ŸŸก Q3
M15 TRL6 ํ†ตํ•ฉ ์‹œํ—˜ Ch.9 2026-11-30 CTO ๐ŸŸก Q4
M16 P1 ์ถœํ•˜ 4์œ ๋‹› Ch.9 2026-12-31 CPO ๐ŸŸก Q4
M17 ์ˆ˜์ฃผ 8๊ฑด ๋‹ฌ์„ฑ Ch.11 2026-12-31 CSO ๐ŸŸก Q4
M18 IRR 34.2% BEP ๊ฒ€์ฆ Ch.10 2028-09-30 CFO โณ 2028

ยง3 ์˜ค๋Š˜(3/18) ์ฆ‰์‹œ ์‹คํ–‰ ์•ก์…˜

# ์•ก์…˜ ๋‹ด๋‹น ๊ธด๊ธ‰๋„
1 KGS AC113 ์‚ฌ์ „ํ˜‘์˜ ์‹ ์ฒญ์„œ ์ œ์ถœ CTO ๐Ÿ”ด ์˜ค๋Š˜
2 PCHE Alfa Laval ๋ฐœ์ฃผ์„œ ๋ฐœ์†ก CPO ๐Ÿ”ด ์˜ค๋Š˜
3 ๋™ํ™”์—”ํ… 2์ฐจ ๊ณต๊ธ‰์‚ฌ LOI ๋ฐœ์†ก CPO ๐Ÿ”ด ์˜ค๋Š˜
4 CO2 ๋ˆ„์ถœ ๊ธด๊ธ‰ SOP ํ‚ฅ์˜คํ”„ HSE ๐Ÿ”ด ์˜ค๋Š˜
5 Ch.8~12 Master Plan ์ „ํŒ€ ๊ณต์œ  CEO ๐ŸŸ  EOD
6 SiC MOSFET ๋ฐœ์ฃผ ์ผ์ • ํ™•์ • CPO ๐ŸŸ  3/21
7 ํ™˜ํ—ค์ง€ ์€ํ–‰ ๋ฏธํŒ… ์˜ˆ์•ฝ CFO ๐ŸŸ  3/21

ยง4 ์žฌ๋ฌด ํ†ตํ•ฉ ์š”์•ฝ

์ฑ•ํ„ฐ ํˆฌ์ž/๋น„์šฉ ์ˆ˜์ต/์ ˆ๊ฐ ROI
Ch.8 ์•ˆ์ „ยท์ธ์ฆ $302k ์ธ์ฆ ์ž๊ฒฉ ํ™•๋ณด โ€”
Ch.9 ์ œ์กฐยท์กฐ๋‹ฌ $18M CAPEX $4.5M P1 ๋งค์ถœ โ€”
Ch.10 ์žฌ๋ฌด $23.5M ์ดํˆฌ์ž $124M ๋ˆ„์  FCF 5.3ร—
Ch.11 ์˜์—… $170k ๋งˆ์ผ€ํŒ… $36M ์ˆ˜์ฃผ 26.5ร—
Ch.12 ๋ฆฌ์Šคํฌ $105k ๋ณดํ—˜๋ฃŒ $36.2M ๋ฐฉ์–ด โ€”
ํ†ตํ•ฉ ์ด๊ณ„ ~$42M $162M ์—ฐ๋งค์ถœ (2030) IRR 34.2%

ยง5 ํ†ตํ•ฉ KPI ๋Œ€์‹œ๋ณด๋“œ

KPI ๋ชฉํ‘œ ์ฃผ๊ธฐ ๋‹ด๋‹น
KGS AC113 ์ธ์ฆ ์™„๋ฃŒ 2026-09-30 ์›”๊ฐ„ CTO
SIL-2 ๋‹ฌ์„ฑ๋ฅ  โ‰ฅ91% ๋ถ„๊ธฐ ์•ˆ์ „ํŒ€์žฅ
PCHE ๋‚ฉ๊ธฐ ์ค€์ˆ˜์œจ 100% ์›”๊ฐ„ CPO
P1 ์ถœํ•˜ ์œ ๋‹› 4์œ ๋‹› ์›”๊ฐ„ ์ƒ์‚ฐํŒ€์žฅ
IRR (Base) โ‰ฅ34.2% ์—ฐ๊ฐ„ CFO
์ˆ˜์ฃผ ๊ฑด์ˆ˜ 8๊ฑด (2026) ์›”๊ฐ„ CSO
์น˜๋ช… ๋ฆฌ์Šคํฌ ์˜คํ”ˆ 0๊ฑด ์›”๊ฐ„ CTO
๋งˆ์ผ์Šคํ†ค On-Time โ‰ฅ90% ๋ถ„๊ธฐ CEO

ยง6 Critical Path ๊ฐ„ํŠธ (P1 ์ถœํ•˜๊นŒ์ง€ 195์ผ)

์ˆœ๋ฒˆ ๋งˆ์ผ์Šคํ†ค ์‹œ์ž‘ ์™„๋ฃŒ ๋‹ด๋‹น ์„ ํ–‰์กฐ๊ฑด
CP-1 PCHE Alfa Laval PO ๋ฐœ์ฃผ 3/18 3/18 CTO โ€”
CP-2 KGS AC113 ์‚ฌ์ „ํ˜‘์˜ ์‹ ์ฒญ 3/18 3/25 ์•ˆ์ „ํŒ€์žฅ CP-1
CP-3 ๋™ํ™”์—”ํ… Tier2 NDA ์ฒด๊ฒฐ 3/20 3/28 ๊ตฌ๋งคํŒ€์žฅ CP-1
CP-4 Series A IM ์™„์„ฑ 3/25 4/15 CFO โ€”
CP-5 TRL5โ†’6 ํ†ตํ•ฉ์‹œํ—˜ ์ฐฉ์ˆ˜ 4/1 6/30 CTO CP-1
CP-6 PCHE ์ž…๊ณ  ํ™•์ธ 6/15 6/30 ๊ตฌ๋งคํŒ€์žฅ CP-1
CP-7 Series A ํด๋กœ์ง• 6/30 6/30 CEO CP-4
CP-8 P1 ์กฐ๋ฆฝ ์ฐฉ์ˆ˜ 7/15 9/30 COO CP-5ยทCP-6
CP-9 KGS AC113 ํ˜„์žฅ๊ฒ€์‚ฌ 8/1 9/15 ์•ˆ์ „ํŒ€์žฅ CP-2
CP-10 TRL6 ํ†ตํ•ฉ์‹œํ—˜ ์™„๋ฃŒ 10/1 10/31 CTO CP-8
CP-11 P1 ์ถœํ•˜ (40์œ ๋‹›) 10/15 12/31 COO CP-9ยทCP-10

๐Ÿ”ด CP-1 PCHE PO ๋ฐœ์ฃผ(3/18) ๊ฐ€ ์ „์ฒด 195์ผ Critical Path์˜ Day-1 ์‹œ์ž‘์ . 1์ผ ์ง€์—ฐ = P1 ์ถœํ•˜ ์ตœ์†Œ 1์ผ ํ›„ํ‡ด.

ยง6-B ๊ฑฐ๋ฒ„๋„Œ์Šค 3๊ณ„์ธต / Governance Structure

๊ณ„์ธต ๊ตฌ์„ฑ ์ฃผ๊ธฐ ์˜์ œ ์‚ฐ์ถœ๋ฌผ
L1 ์ „๋žต CEOยทCFOยท์ด์‚ฌํšŒ ์›”๊ฐ„ ํˆฌ์žยทIRยท์ „๋žต ํ”ผ๋ฒ— ์›”๊ฐ„ ๋ณด๋“œ ๋ฆฌํฌํŠธ
L2 ์ „์ˆ  CTOยทCOOยทCSOยทCPO ๊ฒฉ์ฃผ Critical Pathยท์˜ˆ์‚ฐ ํŽธ์ฐจ ๊ฒฉ์ฃผ ๋Œ€์‹œ๋ณด๋“œ
L3 ์‹คํ–‰ ํŒ€์žฅ ์ „์› ์ฃผ๊ฐ„ Sprint Reviewยท๋ธ”๋กœ์ปค ํ•ด์†Œ ์ฃผ๊ฐ„ ์Šคํ”„๋ฆฐํŠธ ๋กœ๊ทธ