Hanwha Solutions investing $100 million in Lancium Technologies

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Hanwha Solutions investing $100 million in Lancium Technologies

Hanwha Solutions said Wednesday it is investing $100 million in a U.S. data center-tech company as it seeks to expand its sustainable power grid business in America.
 
The investment will give Hanwha Solutions a stake and board seat in Lancium Technologies, a Houston-based startup focused on energy transition solutions, Hanwha said in a release.
 
With the funding from Hanwha and other investors, Lancium wants to build a renewable energy-run data center in Texas to supply electricity for high-performance computing, such as cloud service, fintech and bitcoin mining.
 
Hanwha Solutions plans to further diversify its eco-friendly energy business using Lancium's know-how and will work to establish a new business model in data management powered by renewable energy, the company said. 
 
Yonhap
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