There is a corporations that is turning carbon nanotubes (CNT), long called the "material of dreams" for more than 30 years, into a material that can be used on real industrial sites. CNT is a new material in which carbon atoms bond in a cylindrical shape at the nanometer scale. It is stronger than steel and has excellent electrical conductivity, drawing attention as a next-generation industrial material.
Kim Se-hun, chief executive of AwesomeRay, said, "The reason CNT remained the 'material of dreams' was because of its inherent limitation of being stuck in powder form," adding, "We will develop it into a core material that can be used in a variety of industries, including semiconductors, defense, and mobility."
AwesomeRay, founded in 2018 by researchers from the Carbon Nanomaterials Design Lab at Seoul National University, is a materials, parts, and equipment startup with technology to produce CNT not as powder but in the form of fibers and membranes (thin film materials). The company is currently focusing its business on protective film materials for extreme ultraviolet (EUV) processes used in advanced semiconductor production, electromagnetic wave shielding materials, and CNT fibers and textiles.
Kim, who earned a doctorate from the Department of Materials Science and Engineering at Seoul National University, confirmed the commercialization potential as the lab developed technology to implement CNT in fiber form. "The moment I confirmed, while directly researching the technology to spin CNT into fibers in the lab, that 'this really works,' I decided it had to lead to a startup," Kim said, adding, "At the same time as founding, we kicked off with early investment from Kakao Ventures and Seoul National University Holdings."
The market AwesomeRay is eyeing is EUV protective films (pellicles) used in next-generation semiconductor processes. Kim expects that as production of high-performance semiconductors expands, demand for related materials will also increase. In particular, he projected that CNT-based membranes are emerging as an alternative that can compensate for the limitations of existing materials, boosting the market's growth potential.
Kim said, "Since founding, we have secured a cumulative approximately 27 billion won through four rounds of fundraising." He added, "We are currently raising an additional about 7 billion to 9 billion won in a bridge round," and said, "Full-scale revenue is expected to begin in the second half, and we aim to reach 10 billion won in annual sales by 2028 before a technology exception listing."
Recent results are also becoming visible. AwesomeRay won this year's innovation award at Techtextil Frankfurt, one of the world's largest industrial textile exhibitions, earning recognition for its technology. CNT membranes are reaching the levels of performance and durability demanded by global semiconductor corporations, increasing the likelihood of commercialization.
Kim noted, "Our core competitiveness lies in a method that synthesizes CNT while continuously drawing it out in fiber or membrane form, and AwesomeRay is the only company in the world that can produce both CNT fibers and membranes." He went on, "We have independently developed and internalized everything from materials to production equipment, and we have filed 113 intellectual property (IP) applications, with 63 registrations so far," he explained.
There were twists and turns. Initially, the company pursued businesses in next-generation X-ray generation devices and air purification technology using CNT, but the pace of market formation fell short of expectations. In the end, last year it completely overhauled its business structure into a materials-focused corporations. Kim recalled, "I think the decision to restructure the business actually set our current direction."
AwesomeRay is now expanding the application range of CNT materials from semiconductors to defense, aerospace, and mobility. It has also set a goal to lead the CNT industrial ecosystem by securing global production capabilities and expanding strategic partnerships.
Kim said, "It feels like the first year of CNT material industrialization is just ahead," adding, "Please look forward to AwesomeRay's CNT materials taking root as key components in various fields, including semiconductors, defense, and mobility."