Chemifolio
Eco-friendly biochemicals from cashew nut shells.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
* | KRW2.0b | Seed | |
| Total Funding | 000k | ||
Chemifolio, founded in April 2019 by co-CEOs Lee Cheol-won and Jo Min-jae, is a South Korean company specializing in eco-friendly biochemical materials. The firm focuses on extracting high-purity 'cardanol' from cashew nut shell liquid (CNSL), a byproduct of cashew nut processing, to replace petroleum-based chemicals like phenol. This addresses the growing global demand for sustainable materials and circumvents the price volatility of the crude oil market.
Founder Lee Cheol-won has a background in business administration and over a decade of experience in foreign financial companies, later becoming a certified public accountant in Australia. His desire to launch a venture in an impactful niche market led him to the bio-energy sector, where he discovered the potential of CNSL in Vietnam. Recognizing that cardanol could be a non-toxic, non-volatile substitute for many chemical products in an underdeveloped market, he established Chemifolio in Busan, chosen for its logistical advantages and proximity to chemical industry hubs.
The company's core technology allows for the physical extraction of cardanol with over 98.5% purity, a process for which it has secured patents. This method avoids volatile organic compounds (VOCs) and produces a material that has received 100% bio-based certification from the U.S. Department of Agriculture (USDA). Chemifolio's product portfolio is diverse, including epoxy diluents and hardeners, bio-polyols for polyurethanes, coatings, adhesives, and UV-curing resins. These products serve industries requiring advanced materials, such as coatings, paints, and bioplastics. The business model involves developing and manufacturing these cardanol-based products for various industrial partners and also includes a trading business for biomass materials and petrochemical products.
Keywords: cardanol, cashew nut shell liquid, CNSL, bio-materials, eco-friendly chemicals, phenol replacement, sustainable chemistry, bio-epoxy, bio-polyol, coatings, adhesives, UV curing resins, green chemicals, biochemicals, non-volatile organic compounds, biomass, specialty chemicals, advanced materials, circular economy, industrial biotechnology