Hanwha Solutions will invest $100 million (120 billion won) to acquire a stake in Texas-based data solutions company Lancium Technologies, in an effort to strengthen IT-focused energy management for a stronger expansion of its green energy business. Activities for America and Europe.
Most important is to establish a business model that harnesses green energy resources for the stable operation of data centers, a growing number of which will be driven by the rapid transition and advancement of smart technology industries around the world.
The equity investment will enable the energy subsidiary of the Hanwha Group to secure a seat on the board of directors of Lancium Technologies, helping to increase its say in the company’s management.
Founded in 2017 by Michael McNamara, an American venture capitalist, Lancium has a long list of clients, primarily IT companies using high-performance computing equipment needed for crypto mining or cloud services.
The US company will set up a data center in Abilene, Texas, that will provide renewable energy at low cost, a stable power supply strategy supported by its energy management software, “Lensium Smart Response”.
Lancium bought a total of 9.51 million square feet of land in Texas, where the data center will be operational by the end of next year.
Companies built in data centers will reduce operational computing equipment that requires high power consumption and instead sell electricity to the local power grid, increasing profitability.
Hanwha said that in the era of rapid development of renewable energy market, strengthening software development capabilities for effective energy management is an important task.
“We will expand green power to data centers, an approach that can and will be enhanced by our many years of experience in the solar industry,” said Lee Koo-yung, CEO of Hanwha Solutions.
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