CGP Materials said on Monday that it has signed a MOU with Nissan Chemical Corporation to supply key chemical materials.
Nissan Chemical was formed in 1887 and is Japan’s first chemical company. It supplies materials used in semiconductors, displays, biological science, and medicines and records an annual revenue of 2 trillion won.
Its main product supplied to the semiconductor market is bottom anti-reflection coating (BARC), which is used on substrates before the photoresist is daubed to prevent light reflection. The pattern drawn with photoresist is protected this way.
Nissan Chemical is the world’s largest supplier of BARC and its supply to South Korean customers is increasing.
It already has a factory in Pyeongtaek and has announced another 100 billion won spending plan to expand its production capacity of BARC.
CGP Materials will be providing Nissan Chemical with polymer materials used in the production of BARC. The South Korean chemical firm is looking the factory grounds to build the factory.
CGP Materials CEO Park Chun-geun said the company will grow going forward based on its technologies to synthesize, process, and quality manage electronic materials from monomer to polymer aimed at semiconductors.
The company was in discussions with Nissan Chemical to provide a one-stop supply that encompasses co-research to supply, the CEO added.
CGP Materials was founded in October 2021 and has secured 4 billion won in funding so far. The company said since its founding, it has built an affiliate research institute, its own research facilities, and its own monomer and polymer synthesis technologies to provide samples and for some of its monomer chemicals a capacity to make prototypes.
It is expecting revenues of over 2 billion won and is aiming to record 10 billion won in revenue in 2024 and list on KOSDAQ after 2027.
CGP Materials founder and CEO Park received his doctorate from Tokyo University. He worked at Samsung Semiconductor Lab from 1990 to 1997. He then worked at Dow Chemical’s Electronic Material Business from 1997 to 2015. He was a senior vice president at JSR-EM Korea from 2015 to 2020 and CEO of NC Chem afterward.