Huvis Corp.

10/15/2021 | News release | Archived content

Huvis signed an investment contract with Mcell to develop the smart fabric market

Huvis (CEO Shin, You Dong, 079980), specializing in chemical and fiber materials, announced on the 15th that its investment subsidiary Huvis Global had signed an investment contract for redeemable convertible preferred shares to secure a 20% share in Mcell, an advanced smart textile startup.

In addition to eco-friendly textiles, Huvis has the best textile technology in Korea, including textiles for industrial and daily use. Huvis entered this investment contract to foster a smart textile business in line with the era of the 4th industrial revolution by applying smart fiber technology to the existing polyester fiber.

Mcell is a smart textile company that was established in 2015, and has the technology to process ordinary fibers into conductive fibers. To this end, Mcell has developed its own coating technology using carbon nanotube ink, which is referred to as a new dream material because of its excellent electrical conductivity and physical properties. The heating mat that Mcell has recently commercialized is drawing attention from the market because of its no electromagnetic wave generation, washable properties, and low-power heating function. Mcell plans to develop the high value-added electric mat market in the world jointly with other professional electric mat manufacturers.

The two companies plan to establish a mass production system for the commercialized "smart heating material" and give impetus to the development of smart fibers for electric vehicles. Huvis is expected to lead the material market for next-generation electric vehicles by converging its eco-friendly car interior materials, such as LMF (Low Melting Fiber), of which Huvis has the largest market share in the world, and smart textile technology. Huvis also has a strategy for entering the rapidly growing 'Metaverse' market by applying smart technology to construction and clothing materials,

"The decision to invest in Mcell was made as part of a decision to enter the smart textile market and secure a new growth engine while further strengthening the competitiveness of eco-friendly and high-functional differentiated materials, which we have focused on so far. We will show that textile materials can also lead the 4th industrial revolution by innovating smart textile technology," said Shin Hyeon Seop, CEO of Huvis Global, who led this investment.

The two companies are expected to maximize their technological and business synergy by utilizing their global sales networks through this investment. "We will become the first unicorn company in the smart textile company by continuing to accelerate our growth through R&D and investment attraction," said JI Seung Hyeon, CEO of Mcell.

[Photo] Huvis Global CEO Shin Hyeon Seop (right) and Mcell CEO JI Seung hyeon (left)
in commemoration of the "investment contract signing ceremony"
in front of a banner that is made of Huvis biodegradable fiber "Ecoen."