STARSTECH

Market position

The company positions ECO-ST against conventional calcium chloride and salt de-icers and against prior eco-friendly de-icers that it says were limited by performance, price or environmental impact. Korean recognitions include NEP certification, eco-label certification, Excellent Performance Certification, venture certification, selection into the TIPS program, and designation as a Baby Unicorn and First Penguin type startup.

Use of starfish — collected as marine waste and cited by the company as a source of annual damage — as the feedstock for a chloride-free de-icer, combined with a full-utilization model in which collagen goes to cosmetics and extraction residues to fertilizer, leaving no waste stream.

Technology

The company's process extracts collagen and other substances from starfish; the residual porous bone chips are formulated into the ECO-ST de-icer, avoiding the chloride ions that cause metal corrosion, concrete damage and plant death with calcium chloride and salt. For cosmetics, collagen peptides extracted from starfish are combined with TDS (transdermal delivery) technology in PENELLAGEN to reach the dermis layer. Remaining by-products are converted into liquid fertilizer, giving a zero-waste process. ECO-ST1 technology and Penellagen technology patents were registered in 2018 and 2021 respectively.

Go-to-market

Sales run through Korean public procurement designations for the de-icer, a listed vendor/납품처 page, direct B2B ingredient supply for PENELLAGEN, and online retail in North America (Amazon and other channels) opened in 2021. The website is published in Korean, English, Japanese and Mongolian.

Public and infrastructure buyers for winter snow-removal (the de-icer was designated an Excellent Product and an Innovative Prototype in the Korean public procurement market), cosmetics formulators purchasing the PENELLAGEN collagen ingredient, and agricultural users of the liquid fertilizer. The company also opened consumer sales of de-icer in North America via Amazon and other channels.

Geography

Headquarters and affiliated research lab in Guro-gu, Seoul, South Korea; factories in Dangjin (Chungcheongnam-do) and Suncheon (Jeollanam-do), with a Yeosu plant established in 2020. An Eastern European corporation was established in 2021 and de-icer sales opened in the North American market the same year.

History

Milestones published by the company: 2018 — seed investment, strategic angel investment, establishment of the Dangjin factory, TIPS selection, venture and eco-label certifications, ECO-ST1 technology patent registration, and second place at JTBC's Startup BigBang. 2019 — Series A investment, Excellent Performance Certification, expansion and relocation of the Dangjin factory into the Dangjin Industrial Complex, smart factory automation, preferred-purchase recommendation for outstanding invention, and Excellent Product / Innovative Prototype designations in the procurement market. 2020 — Yeosu plant established for liquid eco-friendly de-icer and chemicals production, selection as a First Penguin type startup and a Baby Unicorn startup, and NEP certification. 2021 — Eastern European corporation established, North American de-icer sales opened, four-kind complex liquid fertilizer launched, a CSI-level thesis on Penellagen published, Series B investment, and Penellagen technology patent registration.