Shinseong ENG is expanding its collaboration with startups and is speeding up to secure future growt..

Shinseong ENG is expanding its collaboration with startups and is speeding up to secure future growth engines such as energy platforms, energy storage devices (ESSs), and artificial intelligence (AI) data centers. Its strategy is to increase the competitiveness of existing businesses by incorporating startup innovative technologies into its own technology development while discovering new business models.

According to Shinseong ENG on the 19th, the company is strengthening open innovation by cooperating with virtual power plants (VPP), mobile ESS, liquid immersion cooling, and energy management software one after another.

For the past 50 years, Shinseong ENG has expanded its business area focusing on solar module manufacturing and power generation business, as well as clean rooms and air conditioning facilities in semiconductor and display factories. Recently, in order to cope with the rapidly changing industrial environment, it is not only developing its own technology but also collaborating with startups, demonstration (PoC), and investment.

The key is not just to secure stakes in promising startups, but to connect them to new businesses by combining external technologies with manufacturing and equipment capabilities owned by Shinseong ENG.

In the energy platform sector, the company made an equity investment in energy IT startup Sixty Hertz in 2023. Sixtyhertz has VPP technology that integrates and manages distributed renewable energy generation resources based on data and software.

Shinseong ENG plans to expand its business area to include power generation prediction, integrated power plant management, and power transaction by incorporating Sixtyhertz's technology into existing solar module manufacturing and power plant businesses.

In the ESS field, it has joined hands with Ionus, which has mobile energy storage device technology. Mobile ESS is a technology that can supply necessary power to sites where power infrastructure is insufficient or power demand is temporarily concentrated.

The two companies conducted a demonstration of storing renewable energy produced at Shinseong ENG's Yongin workplace in mobile ESS and using it at other sites. Through this, we are verifying the possibility of a business model that stores and moves renewable energy without consuming it directly at the place where it is produced.

Shinseong ENG plans to develop this into an energy utilization model that supports companies' implementation of RE100 in the future. In particular, as mobile ESS can be used not only in manufacturing sites but also in places where power demand is temporarily concentrated, such as construction and industrial sites, synergy with existing engineering projects is also expected.

Cooperation is also underway targeting the AI data center market. Shinseong ENG is considering business models in the data center cooling and infrastructure sectors of Day Turbine, a liquid cooling technology company.

Liquid immersion cooling is a method of cooling the heat by directly immersing the server in cooling oil, and it is attracting attention as a next-generation data center cooling technology as the heat generation density increases along with the high performance of AI servers.

Shinseong ENG recently secured overseas references by winning an order for a Malaysian data center project worth about 10 billion won. In the future, we plan to cooperate with Day Turbine to provide data center solutions including liquid immersion cooling.

It has also expanded its cooperation to the field of energy management software. Shinseong ENG signed a memorandum of understanding (MOU) with Korea Green Data, an AI-based energy management software company, this month.

Korea Green Data provides services such as the energy operating system 'GreenOS' and the electric safety solution 'GreenGuard'. As the first cooperation task, the two companies will introduce GreenOS at Shinseong ENG Yongin's workplace to demonstrate integrated analysis of solar power generation and plant energy use.

Beyond direct startup collaboration, Shinseong ENG is also seeking to secure a technology network through venture funds. It is participating in funds managed by Picnic Ventures and EcoPro Partners as investors (LPs) to discover promising companies and technologies in climate tech, batteries and materials.

Rather than a short-term return on investment, the focus was on preemptively grasping the flow of industrial and technological changes and securing companies that can cooperate in the future. It plans to expand its relationship with companies that have confirmed business synergy through joint projects or strategic cooperation.

"If Shin Sung ENG's accumulated capabilities in manufacturing and industrial infrastructure over the past 50 years are an important competitive factor in the rapidly changing market, whether it connects and commercializes external innovative technologies is an important competitive factor," said Kim Shin-woo, head of Shin Sung ENG's management planning division. "Collaboration with startups is a strategy to expand business areas to new markets while increasing the competitiveness of existing businesses beyond simple technology introduction or investment."