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Synergy Selected for Korea’s Global TIPS Program as It Targets Overseas Data Centers
🇰🇷 South Korea /Technology

Synergy Selected for Korea’s Global TIPS Program as It Targets Overseas Data Centers

From Dong-A Ilbo · () Korean

Translated from Korean and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources New plan
  • South Korean AI data-center energy solutions company Synergy was selected for the Ministry of SMEs and Startups’ Global TIPS program.
  • The company plans to improve its AI-based power-management solutions and begin overseas demonstrations through its US subsidiary and San Francisco office.
  • Synergy has raised 10 billion won in Series A funding and was also selected for the government’s Deep Tech Startup Project.

Synergy, a South Korean company developing power-stabilization solutions for AI data centers, has been selected for the Ministry of SMEs and Startups’ Global TIPS program.

The program identifies technology startups with the capacity to enter overseas markets and supports their research, development and commercialization. Founded in 2019, Synergy uses artificial intelligence to manage and stabilize power quality and energy efficiency.

The selection follows a 10 billion won Series A investment in 2024 and the company’s inclusion in the government’s Deep Tech Startup Project. Synergy said the latest recognition would allow it to further develop its AI-based intelligent power-operation solutions and begin overseas demonstrations in earnest.

We will use this Global TIPS selection to pursue overseas demonstrations and market entry in earnest.

— Jang Kwon-youngSynergy’s chief executive described the company’s plans following its selection for the government program.

The company plans to accelerate its entry into the global data-center market through its US subsidiary and San Francisco office. It is also a member of the supply subcommittee of the public-private AIDC Alliance.

The government’s plans to make AI data centers a national strategic industry, including the construction of 18.4 gigawatts of AI data-center capacity and exports of related solutions, provide a favorable environment for the company’s expansion. Synergy Chief Executive Jang Kwon-young said the company would use the Global TIPS selection to pursue overseas demonstrations and market entry, while supplying energy solutions tailored to the expansion of AI data centers in South Korea and abroad.

We will actively supply optimized energy solutions as AI data-center construction expands at home and abroad.

— Jang Kwon-youngThe chief executive outlined the company’s intended response to growing AI data-center demand.
About this summary

Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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