The new engineering, process and construction (EPC) startup specialized in control and measurement. Star of Tomorrow! <15> Field Solution
IoT solution for easy water treatment control.
Saving maintenance costs of mid- and small-sized facility by 30-50%.
Targeting the niche market of mid- and small-sized water treatment facilities with convenient site management
Aiming to become innovative technology company in the next-generation energy and environment area.
Field Solution is a startup specialized in the Industrial Internet of Things (IIoT) for water treatment.
Due to the world-wide industrialization, climate change and population growth, the importance of water is ever growing, as well as the demand for cleaner water.
Advanced countries and industries view addressing world-wide water issues will provide new business opportunities, and it is estimated that they will invest around 1000 trillion won until 2025 in the water industry, which currently is a 688 trillion won market. The water industry is mainly divided into portable water, sewage, waste water, industrial water, and sea water desalination. France and Japan have a high market share in the global market.
“Water is a resource used more than oil, and it is the most heavily invested area today”says Kim Dae-cheon, CEO of Field Solution. The Seoul Metropolitan Government also announced that it will invest about 1 trillion 400 billion won in establishing an IoT system for water supply.
Field Solution’s plan is to integrate its IoT technology with Korean water treatment products known for high quality material and advance into the global market which is dominated by multi-national companies. The global market for process monitoring & control is worth 4.3 trillion won as of 2019, with annual growth rate of 10%.
Field Solution’s IoT package for water treatment provides a process operation guideline based on the forecast engine for non-experts to easily maintain their medium- and small-sized water treatment facility.
Field Solution systemized device, application and integrated service by applying IoT technology to the current simple control system. With the IoT technology, it collects information from utilities and sensors installed on the site and provides real-time service to customers. Customers can reduce the workload for water treatment site management, and also save the maintenance cost by 30-50%.
“My goal is to start with the water treatment control and analysis area but eventually advance into the energy sector,” says Mr. Kim. “Field Solution will become an EPC (Engineering, Procurement, and Construction) company specialized in control and measurement.
Kim Dae-cheon, CEO of Field Solution
Field Solution was established this year, but Mr. Kim Dae-cheon spent 5 years for preparing his business in his spare time while working at a company, developing technology and securing patents.
“The biggest challenge after starting a business was time management,” says Mr. Kim. He learned to allocate time for administrative work, business meeting, and development research, and strictly abided by the plan as he ran his one-person business.
Starting his career at the Korean Agency for Technology and Standards, Mr. Kim gained significant experience from working for companies at home and abroad. After studying industrial engineering, he worked in the water treatment service area and received a doctoral degree in energy environment. What drove him to start a business was his first-hand experience in the field. This is why he named his company ‘Field Solution,’ meaning the real solution lies in the field.
“Large-scale water treatment facilities are well systemized, but mid- and small-sized facilities are only semiautomatic and managed by relatively less experienced employees,” explains Mr. Kang on how he found the niche market.
Field Solution installed and is operating FS Series, its water treatment product, as a pilot program in sewage and waste water treatment facilities to receive feedbacks and improve the product’s integrity before its official launch.