Activon, a clean beauty materials specialist, has officially commenced its IPO process by merging with Kiwoom SPAC No. 11. The company, founded in 2009, develops and manufactures high-performance materials for cosmetics and personal care, integrating green and bio-technologies.
Activon's key products include preservatives that replace harmful ingredients typically found in cosmetics, as well as bioactive materials aimed at preventing skin aging and providing anti-inflammatory and whitening effects. The firm uses sustainable raw materials such as biomass and recycled resources to produce what it describes as sustainable functional materials.
The company's competitive strength lies in the utilization of six core technologies: purification, fermentation, catalysis, extraction, formulation, and transformation. These technologies enable Activon to produce high-purity, odorless, and colorless raw materials essential for cosmetic applications.
In the field of eco-friendly materials, Activon has developed bio-based diol materials derived from natural biomass such as sugarcane and palm fruit. Its leading products, 'Activonol-3' and 'Activonol-5N,' dominate the domestic market for preservative substitutes and were recognized as next-generation world-class products by the government in 2023.
The firm has amassed over 400 customers across the global cosmetics value chain, with 55% of them being long-term clients maintained for over five years. Since 2017, it has established a long-term partnership with global beauty giant L'Oréal, supplying its flagship product, 'Activonol-3.'
Activon is currently engaged with 29 specialized cosmetic distributors in about 29 countries and has strengthened its overseas sales network by establishing a local entity in Guangzhou, China, in 2019. Future plans include setting up branches in the U.S. and Europe to enhance responsiveness in key markets and increase direct transactions with global customers.
As part of its strategy, Activon aims to bolster the market competitiveness of its existing preservative substitute materials while cultivating next-generation bioactive materials as new growth drivers. It plans to launch high-performance materials based on its 'ActivEXO-MF' technology for the selective extraction of specific exosomes and 'A-Linker' technology for integrating various functional components.
Through this IPO, Activon seeks to strengthen its production infrastructure and R&D capabilities, laying the groundwork for global business expansion. The company will go through relevant procedures including the preliminary listing review by the Korea Exchange, submission of the merger registration statement, and a shareholder meeting for merger approval in its pursuit of listing on the KOSDAQ.
