Lancium Technologies Corporation, a technology firm focused on the energy transition, announced the completion of a $150 million fundraising round from premier energy corporations and investors. This fundraising round was led by Hanwha Solutions, one of the world’s leading providers of renewable energy solutions and the owner and operator of Q CELLS. Novawulf and other strategic energy investors backed Lancium, as well as involvement from SBI Holdings and other existing early-stage investors. Lancium’s financial advisors were BTIG, LLC and BitOoda, while Lancium’s counsel was Goldberg Kohn, and Hanwha Solutions was represented by Skadden, Arps, Slate, Meagher & Flom LLP.
According to the reports, Lancium Clean Campuses are constructed at crucial places on the transmission system that are frequently overburdened by renewable energy, and Lancium’s Smart Response software enables Clean Campuses to serve as Controllable Load Resources (CLRs) to the electrical grid. Bitcoin mining, high-throughput computing, and other energy-intensive activities will be conducted on Clean Campuses. With approximately 2,000 MW of capacity under development throughout the Clean Campuses and additional capacity set to come online in the coming year, the company has a bold expansion strategy.
