ECO-ST Is Making An Impact To Deicing Industry With The Help Of Starfish Technology

SEOUL, SOUTH KOREA / ACCESSWIRE / April 6, 2022 / ECO-ST is a South Korean company that has found a way to ensure its de-icer is both environmentally friendly and a clean solution to common corrosion problems caused by most deicers today by using starfish extract.

Star's Tech Co., Ltd. attracts investment in Series B from "NH Investment & Securities PE".

• No. 1 in the industry in 3 years since its establishment and 1600% growth in sales.
• The complete up-cycling process by eco-friendly starfish snow removal agents, starfish collagen, and starfish liquid fertilizer.
• Greenlight for launching a new business based on new materials.

Star's Tech Co., Ltd. (CEO Yang Seung-chan), which developed an eco-friendly starfish snow removal agent, attracted Series B investment from NH Investment & Securities' PE headquarters. It is the first time in two years since Series A, in which CKD start-up investment and Hanwha Investment & Securities participated in February 2019.

Among the startup investment stages, "Series A" means attracting first institutional investment in the official product and service launch stage, and "Series B" means attracting investment to expand the business in earnest through scale-up thereafter.

Star's Tech Co., Ltd. announced that this investment will give momentum to the establishment of an overseas production base for its flagship ECO-ST (ecost, eco-friendly snow removal agent using starfish extract) and the expansion of its new business of Penellagen, a cosmetic raw material using starfish collagen.

ECO-ST produced by the Dangjin plant in Chungnam is an eco-friendly snow removal agent using starfish extract, a marine waste. Excellent eco-friendliness in all areas, including fusion performance, corrosion prevention, and plant sulfide reduction, has been verified by an accredited testing agency and registered as excellent procurement products and innovative prototypes and is being delivered to local governments and private sectors nationwide. Patents registered in Korea, Europe, Russia, Japan, and Canada have been registered, and applications from the United States and China are under review.

Star's Tech Co., Ltd. ranks first in the industry with sales of about 10 billion won as of the 20-21 season. It has more than 16 times increased sales of 600 million won in 2018 in three years when the company first launched its products since its establishment. It already started exporting to Japan in 2018, and after successfully carrying out Kickstarter crowdfunding in early 2019, it is currently selling ECO-ST to Amazon in the U.S. In addition to the large North American markets such as Canada and the United States, direct exports and production bases are being promoted worldwide, including Europe, Russia, and China. As a representative example, to actively enter Canada, specific projects such as identifying ECO-ST demand and reviewing the construction of local production facilities in eastern and western Canada to establish a joint venture with Hyundai Corporation (formerly Hyundai Corporation).

As a young startup, it is also challenging to upcycle. By recycling the separated starfish solution in the process of extracting raw materials of eco-friendly snow removal agents, a new substance for cosmetic raw materials called Penellagen was developed and patented.

The world's first "starfish-extracted collagen peptide TDS" technology significantly exceeds the existing Pig Collagen (0%) and Fish Collagen (17%) at 90% (based on lab data). As a result of skin tissue experiments, it was confirmed that the dermal layer was reached 90%, and a paper was also published in the Journal of Industrial and Engineering Chemistry (SCI).

Currently, discussions on the supply of raw materials with domestic and foreign cosmetics companies are underway, while preparing Penellagen's own branding. It is said that it plans to promote its own marketing campaign with the aim of retaining global brand power like Intel's semiconductor chips and Gore-Tex fabrics.

The end of upcycling is an agricultural liquid fertilizer. After completing the extraction of eco-friendly snow removal agents and collagen for cosmetics, the solution is not discarded but is reborn as liquid fertilizers, organic ingredients, and liquid nutrients through its own process. It is preparing under the product name of the "Bul-Ssook-Yi" series and is seeking to participate in ODA projects through KOICA (Korea International Cooperation Foundation) and the Export-Import Bank of Korea and enter UN procurement projects through UNOPS (United Nations Office for Project Services)

CEO Yang Seung-chan said, "This investment is important in that it has been more firmly recognized for its future growth value and business direction," adding, "We will target the global market in all fields, including eco-friendly snow removal ECO-ST, starfish collagen cosmetics material Penellagen, and liquid fertilizer."

Media Contact
Company: STAR'S TECH
Contact Person: Dan Shin
City/State: Seoul, Republic of Korea
Email: [email protected]
Website: https://starstech.co/

SOURCE: Star's Tech