Marine Innovation has been recognized as one of the 20 Best Companies to Watch of 2021 by The Executive Headlines.

Marine Innovation established in 2019 with the goal to replace single-use plastics with seaweed-based products. We have been conducting research and development on the raw material and its potential for the past 10 years. And as a result, we have developed a methodology that physically separates the components of algae by-product for use in a range of products.

 

Below are the highlights of the interview with Chan Wan Young, Founder and CEO of Marine Innovation

 

Tell us about your key operations in the market? 

Our products are getting showing growth across many different sectors. We're already at commercial level. Customers include large franchises, retailers and private companies. Good news is more than 50 nations are taking actions to cut waste. Luckily we’re starting to see communities around the world to reduce plastics. The whole world is waking up to this plastic crisis. Our Korean businesses are very active. Leading chemical industries & food companies are also showing interest in investing us. Corporations are not being stubborn on this issue. Our issue is SK Innovation as a strategic partner, a worldwide leader in the energy industry has agreed to partner to give a full support to scale up and to produce our seaweed-based products with the investment of 500 million dollars. Global groups around the world have contacted us and want to find and implement new sustainable alternatives for their packaging for a more eco-friendly material and they have recognized our ecofriendly innovation in fashion, food, cosmetic industry etc. Government regulations will play a critical role, as we experience a surge in online shopping and to-go containers during the COVID-19 pandemic. B2B, B2G, B2C via online & offline via retail stores and traditional & digital distribution channels. As consumer behaviors had swiftly changed in the last decades, more and more people purchase via online. The basic reason for selecting any business is the demand for the same in the market. We have started with egg trays and cartons. Then, why choosing it for making business? Because we see the market potentiality with different business options. With the same egg tray making machine, we can also produce different other pulp paper products. The business will then be expanding to molded pulp packaging and then to paper packaging. As the world continues to rise the consumption of efficient packaging due to increasing consciousness, packaging industry is likely to grow rapidly with a need and impact. We are expanding to molded pulp packaging and then to paper packaging. As the world continues to rise the consumption of efficient packaging due to increasing consciousness, packaging industry is likely to grow rapidly. We’re also talking with big global brand names. Our commitment is recognized regionally and globally. World’s largest companies want to find and implement new sustainable alternatives for their packaging in favor of more environmentally sustainable material and they have recognized our eco-friendly innovation for their sustainable alternatives. Our seaweed-based products can be widely applicable in various different markets and will have HUGE ripple effects. You may soon see seaweed packages everywhere as the potential is really high in widespread applications, including food & beverages, personal care, household care, consumer electronics and constructions for industrial packaging as well. Our seaweed-based packaging will be a platform for environmental change towards earth-friendly options.

 

What factors influenced or motivated you to start this venture? 

When I started to talk about plastic issues 15 years ago, 9 out of 10 said, “We made such a miracle material;- plastics are durable, economical, foolproof, hardwearing material. You won't make any money, so why do you want to go the hard way?”. I was born and brought up in the ocean city, Busan. Actually all our team members were, inspired by my young period, worked in a big company dealing with new materials and got a chance to work in Indonesia. I saw what Indonesia was. I felt something has to be done for environmental issues and thought it was not only problem in Indonesia. The devastating image of plastic pollution in the ocean shocked me;- floating rubbish, beaches covered in trash, destroying the world’s most beautiful beaches. I believed somebody had to do something about it, then, that someone has to be me! The miracle material has made modern life possible. If we have to depend on it, what about developing a more sustainable approach to switch to eco-friendly, naturally-sourced plastic alternatives? The whole world will have the environmental issue if we don’t take actions in the near future. Since then, the commitment passion is really what makes Marine Innovation who we are.

 

What is the most important key to your success? Share the experience.

Our values apply not only to present, but also to future. 

Ending single-use plastic problems is not a bold idea. We’re moving toward a plastic-free world. What we’re doing is not just a matter of sales or profits, it’s a matter of the future planet where our children live. Our innovation is the innovation in action, not innovation in thinking.  Marine Innovation considers 4 basic criteria for eco-products. Products have to be biodegradable, plant-based, chemical-free in the production and no toxins from plastic burning. We believe that when it comes to products, that means everything from production to packaging needs to be safe for the environment. Although the road ahead to go plastic-free is long and uncertain, it’s important not to be discouraged. I believe that the first steps toward sustainability start with the individual. Little by little, firms like us can unite around a common cause and have a real, measurable impact. But what's most important is that, in the end, our values are all we have.

How is your Seaweed Process Technology better than other technologies in the market?

Our innovative technology lies in the patented technology used to separate the components of the algae without the use of any harmful chemicals, as well as the use of algae waste-product rather than algae itself which is more already being used in different parts of the world thereby reducing waste and preventing imbalances to natural ecosystems that rely on algae.  Algae BY-PRODUCT for use in a range of products are our most exciting innovation. It’s because we’re reusing seaweed to transform into finished products. This is replacing plastics and wood with extracts and byproduct from seaweed is the driver of competitive success.

What are the biggest challenges did you face in the initial years?

Most of all, with social and environment commitment, we also started big and created ambitious forecasts.  However, First of all, I would say the price in the current market is not competitive. 4 in 5 consumers, even businesses think eco-friendly products cost more expensive than non-green products. Policy makers should ban plastics. We need government actions to fight and It’s needed to take actions that government bodies and large corporations advance green purchasing and cultivate green consumers by acting green.

It’s the reason why eco-friendly products are generally more expensive is because of supply chain implications. It is not easy making products that have minimal impact on the environment. Secondly, for green marketing, the goal and priority of the company to provide resources for entrepreneurs to create eco-friendly startups of our own, The certifications definitely help consumers and businesses understand the company is actually walking the walk regarding sustainability. However, obtaining environmental certifications are expensive. Everything must comply with sustainable standards,

Do you have any new products or services ready to be/getting ready to be launched?

We are continuing research and development into new raw materials and finished products. Also, we’re working on the new generation of the tailored products from packaging to consumer goods. The global packaging market is switching to sustainable packaging. We see this seaweed-based packaging as a platform for environmental change to make strides toward earth-friendly options. 

For us, paper cup development is one of our most ambitious projects now, replacing the traditional PE-coated paper cup to the cheapest ecofriendly-coated cup in the world with chin chitosan. Chitosan’s biological activities and molded technology makes seaweed-based bio-cups more ambitious. This innovative paper cup has the same properties as the current petroleum-based ones at competitive prices.

How is Marine Innovation helping users by providing an end-to-end service.

Our seaweed-based products are world-changing innovation :-100% eco-friendly, zero chemical in the manufacturing process and 100% biodegradable in 90 days. Demand for eco-friendly and sustainable materials by consumers is on the rise. Businesses will explore our smarter, more sustainable and more cost-effective material and discover how this green sustainable material can bring about massive consumption savings to the business with innovation, performance and cost-effectiveness. Modern consumers want to select products with sustainable packaging since it is an easy way to contribute. 

As a question on sustainability, where do you see your company a couple of years from now?

Marine Innovation, with a dedicated team of active contributors with the respect for the environment is responsible for growing the company to where we sit as a leader on the platform in a couple of years. Marine Innovation will address some of the global issues as sustainable business strategies include climate and pollution. We will be making a positive impact on planet. Through our work, we will be able to spur hope, create a tangible change through uptake of the products and generate awareness amongst our networks about the importance and the ease of switching from plastic to more sustainable alternatives. Marine Innovation seeks to keep human health and environmental sustainability a top priority, while also growing our business and scaling our impact. We will be scaling operations to increase production, branching out to new global markets including localization in France, Sweden, and Bahrain, continue research and development into the raw material and finished products and targeted marketing activities.

Please list some patents, awards and certificates that you have achieved. 

A total of 54 patented technology including applications, registrations and PCTs in technology, trademarks and designs is applied and registered. A startup like us, winning awards can signal to the world that we've "arrived,". We believe that awards and recognitions should be an important part of each business. At domestic events, in a single year, we won 6 Ministers prizes. We received a Presidential Citation at Marine Day celebration on May 31th. And at global events, too, awards around the world is the proof of our technology innovation and sustainable material to make a difference for the environment. We’re selected to receive 2021 World Star Global Packaging Awards(WPO) & Aisa Star 2020 as the ‘best of the best in Asia’. Not only that, we are the finalist at 2020 Dubai Expo. Being proud to be selected, Expo Live accelerates and promotes creative solutions that improve lives while preserving our world.

What are your messages for budding entrepreneurs/young generation?

Our values apply not only to present but also to future generation. At the current rate of pollution, the end of the world is coming to an end. The most likely culprit is environmental abuse caused by humans. My inspiration to start developing this solution is not anything big. As a father of two children, I naturally worry about my children’s future where they will be forced to live in a polluted environment. If we really care about plastic pollution, global warming, and the health of our future generation, what about changing our ways of lives and introducing seaweed-based products into the environment? Marine Innovation seeks to keep human health and environmental sustainability a top priority, while also growing our business and scaling our impact. We have eco-friendly ideas now and we need to implement. Please be aware that healthy plastic alternative to single-use plastics and wood is around you.

Meet the Leader behind the success of Marine Innovation

Cha Wan Young, Founder and CEO of Marine Innovation has developed an international career in the manufacturing process field with his master degree of Mechanical Engineering, and in the trade field. Since he was involved in the company with new materials and got a chance to Before establishing Marine Innovation, he worked in Indonesia to collect information of seaweed farming in South East Asia. After he found Marine Innovation, he has kept on leading seaweed-based technology-development, and has been awarded the Presidential Award 2021 for the contribution using marine materials.