Energy deep-tech company Synergen (CEO Jang Kwon-young) announced that it has officially entered the overseas data center market by signing a memorandum of understanding (MOU) with Irish energy specialist Lumcloon Energy for a 1MW modular data center (MDC) power optimization project.

This project has been promoted as part of a task selected for the “Data Center Overseas Expansion Support Program” of the Ministry of Science and ICT and the National IT Industry Promotion Agency (NIPA), and is being evaluated as a meaningful achievement demonstrating the competitiveness of Korean energy technology in the global power infrastructure market.

For this project, Synergen plans to apply its AI-based energy efficiency solution “CVR (Conservation Voltage Reduction)” and proprietary power optimization technology to maximize the operational efficiency of the data center.

A Synergen official stated, “The Ireland project is a symbolic case showing that Synergen’s CVR and AI-based power efficiency technologies are sufficiently viable overseas,” and added, “Based on our technological collaboration with Lumcloon Energy, we will expand into various data center and power infrastructure projects across Europe.”

The official continued, “In today’s market, where both power demand and carbon-neutrality requirements are rising simultaneously, AI power efficiency technology is essential, and we plan to further strengthen global partnerships and continue advancing our technology.”

Meanwhile, Synergen operates a long-term contract model that combines energy storage systems (ESS) with demand response (DR) projects, and is expanding its business scope around AI-based energy efficiency technologies. According to the company, the CVR solution is provided in a build-operate-transfer (BOT) model and has reference cases in domestic industrial facilities.

Synergen recently conducted a proof of concept (PoC) for its CVR technology at a Tier-1 supplier plant of Hyundai Motor Company in Alabama, United States, and is promoting its entry into the North American market based on this project. The expansion into the US market is significant in that a Korean energy technology company is opening the door to the global market with its own proprietary solution.

CEO Jang Kwon-young has a clear goal for Synergen: to grow into an “AI-based integrated energy platform (VPP, virtual power plant)” company. The company aims to integrate energy resources such as ESS-DR, CVR, solar power, and fuel cells—which have been operated separately—into a single power plant-like system via its self-developed integrated control platform, managing them efficiently and creating new added value.

Synergen has already proven its growth potential by securing a KRW 10 billion Series A investment from leading investors including TS Investment, GS Ventures, and Hanwha Investment & Securities. Recently, a US venture capital (VC) firm also joined as a shareholder, further boosting the company’s global expansion. Synergen, which is currently discussing a Series B funding round led by a local US VC with a corporate valuation target of KRW 100 billion, plans to use this as a springboard to achieve annual revenue of KRW 200 billion by 2027 and pursue an initial public offering (IPO), positioning itself as a key player in the global energy market beyond the Republic of Korea.

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