Awesomray Builds EUV Pellicle Production Line, Raises W7.5b in Bridge Funding

Awesomray, a deep tech company specializing in carbon nanotube (CNT)-based membrane and fiber materials, announced Monday that it has completed a dedicated EUV pellicle membrane production line and closed a 7.5 billion won ($5.28 million) Series B bridge investment round.

The company plans to use the funding and the completion of its clean room production line in Anyang, Gyeonggi Province, as a springboard to shift from a research-and-development-focused structure to full commercialization for customer supply. Awesomray is currently undergoing evaluation by major prospective customers and expects to begin initial mass production and generate revenue as soon as those evaluations are complete.

Awesomray has developed EUV pellicle membranes that are thin, lightweight and heat-resistant, leveraging its proprietary CNT technology. EUV is a leading lithography technology used in advanced semiconductor manufacturing. A pellicle is a critical consumable component that protects the photomask — on which circuit patterns are engraved — from contaminants such as dust. It must offer high transmittance and excellent heat resistance to withstand high-power EUV light sources. CNT-based membranes are widely regarded as the most promising next-generation material candidate for high-power EUV process environments. Through its Anyang production line, Awesomray plans to supply evaluation samples to customers on a stable basis while working to stabilize its production processes and upgrade its quality control systems.

The 7.5 billion won bridge round drew participation from a broad range of strategic and financial investors within the semiconductor ecosystem. S&S Investment, an affiliate of photomask and EUV pellicle specialist S&S Tech, and Wonik Investment Partners, an affiliate of the Wonik Group, joined as strategic investors. Wonik Investment Partners and Hanwha Investment Securities co-invested through a jointly managed fund. Additional participants included Re-Investment, L&S Venture Capital, K-Net Investment Partners, Union Investment Partners and Ascendo Ventures.

Industry observers noted that the participation of pellicle manufacturers, semiconductor materials and equipment companies, and specialized investment firms validates Awesomray's CNT-based pellicle technology and its commercialization potential. The involvement of a defense-sector fund co-managed by Wonik Investment Partners and Hanwha Investment Securities has also drawn attention to the possibility that Awesomray's CNT fiber and membrane technology could expand beyond EUV pellicles into the aerospace and defense sectors.

Awesomray is also accelerating its technology development by combining private investment with government research funding. The company has secured a 3.6 billion won pellicle technology development project under the Ministry of SMEs and Startups' "Deep Tech Challenge" program, and has been selected under the Korea Technology Finance Corporation's "Unicorn Bridge" initiative, receiving 600 million won in support funds along with eligibility for up to 20 billion won in technology guarantees.

The company has also completed key personnel additions to accelerate commercialization. Hong Seong-cheol, a senior official at S&S Investment, has joined as an outside director, drawing on his experience in semiconductor photomask and pellicle development to support customer engagement. Awesomray also brought on Dr. Lee Dong-wook — who led new materials commercialization at LG Chem and Ecopro BM — as chief product officer to head its pellicle business division.

Awesomray has signed an investment agreement with the Jeju Special Self-Governing Province and completed the relocation of its headquarters to Route330 within the Jeju Advanced Science and Technology Complex. Selected as a listing-support candidate by Jeju Island, the company has begun selecting an IPO underwriter and preparing for a preliminary technology assessment, with a target of pursuing a Kosdaq technology special listing in 2028 on the back of strong revenue growth.

"Awesomray has demonstrated unrivaled technology and commercial viability in the CNT-based pellicle membrane space," said Hong, the outside director. "We will actively support the company in successfully establishing itself in the market, starting with the completion of its mass production infrastructure and customer evaluations."

Kim Se-hun, chief executive of Awesomray, said the production line build-out and investment round mark "an important turning point as Awesomray leaps from an R&D-focused company to a tangible advanced materials supplier." He added that the company would "successfully complete customer evaluations, accelerate commercialization, and secure technological leadership in the global semiconductor materials market."

pooh@heraldcorp.com