LEMON

What LEMON does

LEMON Co., Ltd. (주식회사레몬, KOSDAQ: 294140) is a South Korea-based nano fiber materials manufacturer and distributor founded in September 2012 and headquartered in Gumi-si, Gyeongsangbuk-do. The company produces nano fiber membranes using proprietary electrospinning technology, where fibers measuring tens to hundreds of nanometers are randomly stacked into a 3D structure, combined with in-house electroless plating capabilities for conductive applications. Its product portfolio spans three principal business areas: (1) B2B nano membrane materials and functional fabrics sold to outdoor apparel brands (including an exclusive supply relationship with The North Face since February 2018), military/defense textile manufacturers, and industrial filter producers under the Technoweb™ brand (X/V/Pro/R series for gas turbines, dust collection, HVAC, and automotive); (2) EMI shielding components and thermal interface materials combining nano film with electroless nickel/copper plating for smartphone, IT device, and 5G PCB applications; and (3) Air Queen consumer products — including nano membrane sanitary pads, KF94/KF80/KFAD masks, beauty masks, and protective gowns — sold via the air-queen.co.kr e-commerce storefront and through OEM/white-label partnerships, with initial export shipments to China in 2026.

The company's go-to-market operates across three motions: direct B2B field sales into enterprise OEMs and brand customers, OEM/embedded partnerships for Air Queen consumer products, and direct-to-consumer e-commerce. LEMON generates revenue primarily through hardware sales of nano membrane materials, EMI shielding components, Air Queen consumer goods, Technoweb filter media, and electroless plating services. FY2025 consolidated revenue was KRW 7,152M (approximately USD 5.2M), down from KRW 7,288M in FY2024 and KRW 10,477M in FY2023, with the company recording operating losses in each of the past three years and operating under KOSDAQ management classification since March 2026. As of December 2024, LEMON employed 68 people across four locations in South Korea (Gumi Plant 1, Gumi Plant 2, Daegu Plant for EMI/plating, and a Seoul sales office) and completed a KRW 7.57 billion third-party capital increase in July 2026, with TopTec Co., Ltd. as the sole allottee. The CEO is Lee Jong-il (이종일).

Name

LEMON

Legal name

주식회사레몬

Website

https://lemonano.co.kr

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

51–100 employees

Short description

LEMON is a South Korea-based KOSDAQ-listed manufacturer of electrospun nano fiber membranes, EMI shielding components, industrial filter media, and Air Queen branded consumer hygiene products, selling B2B to outdoor apparel, electronics, and industrial filtration customers while also operating direct-to-consumer e-commerce.

Ownership category

akta.pro rank

Headquarters

HQ city

Gyeongsan

HQ country

South Korea

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Nano Membrane Materials Sales: Sales of nano membrane materials to B2B customers including outdoor apparel brands, defense contractors, and industrial manufacturers. Applied in waterproof clothing, military gear, and various functional textile products.
2. EMI Shielding Components: Manufacturing and sales of EMI shielding materials and thermal interface materials (TIM) for IT devices, smartphones, and electronics. Includes nano film combined with TIM for electromagnetic interference shielding and heat dissipation.
3. Air Queen Consumer Products (B2C): Direct sales of Air Queen branded products including sanitary pads, masks (KF94, KF80, KFAD), beauty masks, and functional fabrics through the company's e-commerce platform and distribution partnerships.
4. Air Queen OEM Products: OEM manufacturing and sales of Air Queen branded sanitary pads and masks to other brands for resale under their own labels.
5. Technoweb Filter Media: Sales of industrial nano fiber filter media for gas turbines, dust collectors, HVAC systems, and automotive engine filters under the Technoweb brand.
6. Plating Services: Electroless plating services on fabric and non-woven substrates for various industrial applications.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

LEMON manufactures and distributes nano fiber products and electromagnetic wave shielding parts using proprietary electrospinning technology. The company produces nano membrane materials for B2B sale to outdoor apparel, defense, electronics, and industrial filtration customers, and sells consumer hygiene products (sanitary pads, masks, beauty masks) under the Air Queen brand via its own e-commerce storefront and OEM partnerships. It also provides industrial filter media under the Technoweb brand for gas turbines, HVAC, dust collection, and automotive applications.

Product overview

LEMON is a nano-technology company that develops and manufactures nano fiber materials using electrospinning technology. The company operates as both a materials supplier and consumer brand. Its core technology is the Nano Membrane platform - a 3D random-stacked nano fiber structure. Business areas include: (1) Nano Membrane materials for outdoor apparel and filtration; (2) EMI Shielding Components using nano film combined with thermal interface materials for electronics; (3) Electroless Plating services for conductive fabric treatments; (4) Air Queen consumer brand featuring nano-technology applied sanitary pads, masks, and functional fabrics; and (5) Technoweb industrial filter media series for gas turbine, HVAC, dust collection, and automotive applications. The company also develops defense industry materials including military apparel and EMI shielding for defense applications.

Differentiator

Problem solved

Functional benefit

Brands

• Air Queen: Primary brand applying the world's best nano material technology to deliver various product lines to customers. Includes sanitary pads, masks, and other products using nano membrane sheets.

Products and services

• Nano Membrane (나노멤브레인) Core nano fiber technology platform where nano fibers are randomly stacked in a 3D structure, providing waterproof yet breathable properties, 10M water depth resistance, ultra-lightweight (5x lighter than conventional materials), and eco-friendly materials. Sold B2B to outdoor apparel brands, defense contractors, and industrial manufacturers.
• EMI Shielding Materials (EMI 차폐 소재) Electro-magnetic interference shielding materials utilizing nano membrane for nano film combined with thermal interface materials (TIM), providing effective EMI shielding and heat dissipation for smartphones, IT devices, and 5G PCB SMD components. Features ultra-thin high-density film with 2μm black carbon thickness (60% reduction vs conventional 5μm), zero BURR generation during cutting, and excellent flexibility for curved surfaces.
• Functional Fabrics (기능성 섬유) Nano membrane integrated functional fabrics for outdoor apparel featuring waterproof, windproof, stretch, soft touch, and breathability properties. Includes Active, Extreme, and Hardshell series. Sold B2B to global apparel brands including TNF (The North Face) under exclusive supply contract.
• Air Queen Sanitary Pad (에어퀸 생리대) Sanitary pad applying nano membrane backsheet technology that prevents blood leakage while allowing air circulation for comfort and freshness. Sold B2C via air-queen.co.kr and through OEM partnerships with international brands. Initial export of 700,000 units to China in March 2026.
• Air Queen Mask (에어퀸 마스크) Face masks with 85% porosity nano fiber filter providing excellent breathability and filtration efficiency with sustained performance during extended wear. Includes KF94, KF80, KFAD mask types. EU DOC registered November 2022 and CE certified for export.
• Mask Filters (마스크 필터) Replacement nano fiber filter media for face masks that physically block harmful substances while allowing free gas inflow for smooth breathing, maintaining high efficiency without moisture-related degradation.
• Beauty Masks (미용 마스크) Cosmetic face masks using nano fiber fabric with 85%+ porosity for enhanced lifting effect, excellent touch feeling, low irritation, and superior adhesion with collagen and niacin integration.
• Protective Gowns (방호복) Protective gowns designed to protect against blood, body fluids, secretions and other hazardous environments during work, meeting FDA and Korean apparel testing standards. FDA 21 CFR Part 820 registered.
• Technoweb Filter Media Series (테크노웹 필터미디어) Proprietary nano fiber filter media series for industrial filtration including Technoweb X series (gas turbines, harsh environments), V series (air pollution control / dust collectors), Pro series (HVAC), and R series (automotive engine filters). Features surface filtration with 150-300nm pore size (10x smaller than traditional non-woven fabrics), extended filter life, reduced pressure loss, and glass-free composition.
• Military Materials (방위산업소재) Defense industry materials including military apparel and footwear, EMI shielding materials (defense applications), NBC protective suits, and bulletproof jackets utilizing nano membrane and EMI shielding technologies.
• Electroless Plating Service (무전해 도금) Electroless plating technology and service that plates conductive metals like nickel and copper onto fabric, non-woven fabric, and polyester materials for enhanced electrical conductivity. Process includes etching, free dip, catalyst, accelerator, electroless copper plating, and electroless nickel plating. Supports EMI shielding component manufacturing.
• PFAS-Free Nano Fiber Products (PFAS 프리 나노 섬유 제품) K-functional fiber products without perfluorinated compounds (PFAS-free). First overseas export completed in April 2026, positioning the company to address US PFAS regulation enforcement (in effect since 2025) and the resulting K-functional textile supply chain restructuring.

Quantifiable outcome

• Waterproof at 10M water depth while maintaining breathability
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• TNF (The North Face)coreChannel Partner/ Reseller/ Distributor · 1 February 2018Exclusive supply contract signed in February 2018 for nano membrane materials to be supplied to TNF (The North Face) outdoor apparel brand.

Scale indicators6 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Teijin Limited: Japanese advanced fibers and materials company (including aramid fibers for defense and technical textiles). Broad incumbent with overlapping applications in functional apparel, defense materials, and filtration.
• Freudenberg Group: German diversified manufacturer of nonwovens, filtration (Viledon/Freudenberg Filtration Technologies), and technical textiles. Broad incumbent with overlapping portfolio in industrial filtration and apparel materials.
• Toray Industries: Japanese diversified materials leader producing technical fibers, water filtration membranes, and advanced textiles (including Entrant™). Broad incumbent competing across LEMON's nano fiber textile and filtration categories.
• Parker Hannifin (Chomerics division): Industrial conglomerate with Chomerics division producing EMI shielding and thermal interface materials for electronics. Direct comparable to LEMON's EMI shielding components for smartphones and IT devices.

Direct peers

• W.L. Gore & Associates: Industry-standard maker of Gore-Tex waterproof breathable membranes. Direct comparable to LEMON's nano membrane outdoor/apparel business (TNF-supplied functional fabrics) and represents the primary technology competitor LEMON's PFAS-free nano membranes aim to displace.
• Hollingsworth & Vose: Global manufacturer of high-efficiency filtration media and specialty nonwovens. Direct comparable to LEMON's Technoweb™ X/V/Pro/R filter media series for gas turbine, HVAC, dust collection, and automotive applications.
• Ahlstrom-Munksjö: Finnish producer of filtration media and specialty nonwovens. Direct comparable to LEMON's nano fiber filter media across industrial air filtration segments, particularly dust collection and HVAC.
• Donaldson Company: Major manufacturer of industrial filtration systems and replacement filter media. Direct comparable to LEMON's Technoweb™ industrial filter media for gas turbine, dust collection, and engine filtration applications.
• Toyobo Co., Ltd. Japanese technical textiles producer (Dermizax™ breathable membranes) and EMI shielding film manufacturer. Closely comparable to LEMON across both nano membrane apparel and electronic EMI shielding product lines.

Regional players

• Kuraray Co., Ltd. Japanese specialty chemicals and materials company with technical textiles, functional fibers, and membrane products. Comparable Asian peer competing in adjacent functional fiber and specialty materials categories.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/daehyuntfc

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LEMON