Sales Growth and Financials

2013 domestic market share

Unit: One million Won

Sales Growth increased significantly from 2009 to 2013 

- About Domestic Market 

 We first launched our company in 2009, and our market share was significantly low compared to other companies. Even though bio-ethanol was recognized as number 1 bio-fuel, the productivity of bio-ethanol was not enough to drag attention of consumers in the beginning. Instead of promoting our product to increase brand awareness, we invested in R&D to develop a new form of bio-ethanol. In the late 2009, we challenged ourselves and made bio-ethanol from flame grass. Bio-ethanol is usually made from common crops such as sugar cane, corn or potatoes. However, due to the increase in the price level of agricultural products, we took another approach and decided to find out a completely new raw material by our own breeding technology. We succeeded in launching the new product called UC-9. We received the “Biotechnology Innovation Honor Award” from the Conference held by Environmental Sustainability Organization. In 2013, our domestic market share increased to 9%. By 2020, we wish to increase our market share to 15%.

- About International Market 

 According to the statistics, over 103.2 million m³ of ethanol was produced worldwide in 2011 and more than 80% was used in fuel application. Internationally, our market is performing fairly. We want to compete with the world leaders in production of bio-ethanol which are United States and Brazil. Our market share is about 4% and we are targeting mainly Taiwan and Philippines where pollution rates are significantly high. We expect to enter the EU market by 2020 where most bio-ethanol is still produced by distillation from crops such as wheat, sugarcane and corn. Demand for bio-ethanol is likely to increase over the next two decades in the EU and market for bio-ethanol has continued to grow since the introduction of E10