A domestic venture company says it has developed a technology to tap hydrogen as an alternative energy source.

The head of Energy Master Company, Cho Gil-je, told reporters Monday that his firm was set to commercially generate clean energy from a readily available resource: water.

After extracting hydrogen and oxygen through water electrolysis, Energy Master plans to use the hydrogen to fuel an efficient combined gas generator invented by Cho.

For his efforts, the owner-inventor has received the highest industrial technology honor, the Jang Yeong-sil Award, and the grand prize in this year's national technology competition.