TSK Inc.: Replacing Rare Metals with Iron—Kyoto University-Born "Iron Catalyst Technology" Targeting Display Materials and "Iron Fulvic Acid" for Agriculture

My name is Eun-Chul Son from TSK Inc. We are a deep-tech venture spun out of Kyoto University, aiming for the social implementation and commercialization of "iron catalyst technology" researched by Professor Tadashi Nakamura of the Institute for Chemical Research at Kyoto University for about 25 years.

Overcoming Geopolitical Risks in Displays: "Rare Metal-Free" and Our Second Pillar

Traditionally, rare metal catalysts like palladium have been indispensable for precise chemical synthesis and functional materials in displays. However, rare metals are geographically concentrated in specific regions like Russia and South Africa, leading to severe geopolitical risks (supply instability) and causing serious environmental pollution during mining.

In contrast, if we can make abundant "iron" function as a catalyst, we can drastically improve costs, supply stability, and environmental impacts. We utilize this iron catalyst technology to drive the development, manufacture, and sales of new chemical compounds, as well as the greening of existing chemical processes (Green Innovation).

The first pillar of our business is the development of new chemical materials for EL materials and devices used in Organic Light-Emitting Diode (OLED) displays. Particularly, we target the improvement of blue light-emitting materials, which currently perform worse than red and green, and we are evaluating samples through a solid pipeline with panel manufacturers.
However, display materials take an extremely long time to commercialize. Therefore, we established a second pillar: "Iron Fulvic Acid," a high-value-added biostimulant (plant physiological activator for agriculture) derived from the same technology.

Agricultural Innovation with High-Concentration "Iron Fulvic Acid" Upcycled from Domestic Wood Waste

Iron fulvic acid uses tree bark or waste timber from the forestry industry as raw materials—materials that are usually discarded as industrial waste with disposal costs. By using our unique iron catalyst technology, we react these materials only in water without using any organic solvents, creating an upcycling process that produces high-concentration fulvic acid in a short time and large quantities simply by filtration.

This fulvic acid activates plant roots to dramatically improve fertilizer absorption efficiency, which could drastically reduce chemical fertilizer usage in the future. As a result of agricultural testing over approximately two years, we confirmed dramatic effects, such as garlic and carrots growing more than double their normal size, stronger leaf growth, and reduced pest damage.

We started sales this March, exporting 300 kg to a Korean biotech firm and testing it on major domestic farms. We plan to strengthen marketing to scale up from tens of kilograms to monthly supplies of several hundred kilograms by the end of the year.

Fundraising and Future Growth Strategy

We closed our Series A round in September 2023 and are accelerating development with a team including 5 researchers. Because chemistry is a capital-intensive deep-tech field, we plan to raise an additional 1.5 million USD (150 million JPY) by the end of this year. To promote Iron Fulvic Acid, we seek partnerships with major domestic and international farms, as well as large fertilizer companies that previously relied on imports for fulvic acid. We ask for your support and collaboration in our initiative to sustain primary industries and display manufacturing through earth-friendly chemistry.

Q&A and Feedback

Commentator (Mr. Toyama): Mr. Son, thank you very much for the clear and passionate presentation. I fully understand that you are researching highly advanced deep-tech as a university-born startup. Regarding "Iron Fulvic Acid" born from this "iron catalyst," could you share its selling price and market competitiveness?

Eun-Chul Son: Thank you for the question. Currently, our high-concentration iron fulvic acid is sold at 6,000 JPY per kilogram. When compared on an active ingredient concentration basis, we are proud that our product is extremely cheap and high-quality compared to imported alternatives.

Commentator (Mr. Toyama): My family runs a farm, so I know from experience that 6,000 JPY per kg for agricultural materials feels rather expensive for ordinary farmers. How do you plan to approach farmers and promote adoption at this price point?

Eun-Chul Son: Indeed, 6,000 JPY is a high barrier for ordinary farmers to use daily as a standalone product. Therefore, our fulvic acid is not spread as-is, but is provided as a highly concentrated raw liquid to be diluted hundreds of times. In addition to standalone sales, we also use a B2B business model: OEM supplying high-value-added fertilizers mixed with a small amount of iron fulvic acid to fertilizer companies, allowing them to distribute it widely at prices affordable to farmers.

Commentator (Mr. Toyama): I see. If it is diluted or mixed with existing fertilizers to add value, it becomes much easier for farmers to adopt. Having visible effects like doubling the size of carrots is very attractive. Specifically, what kind of companies do you want to collaborate with moving forward?

Eun-Chul Son: First, we will expand direct evaluation and sales at large farms. Additionally, we want to target fertilizer trading companies that currently import fulvic acid, as well as fertilizer manufacturers looking to develop new products using biostimulant materials, building B2B raw material supply and co-development partnerships.

Commentator (Mr. Toyama): Thank you. You plan to raise 150 million JPY by the end of the year. Deep-tech requires capital to scale, but the potential of this technology to support display manufacturing and rescue primary industries like agriculture is fantastic. I am rooting for you.

Eun-Chul Son: Thank you. We will ensure our research results translate into commercial achievements, contributing to society and the environment.