Lancium

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Lancium
Private
IndustryEnergy Technology
FoundedDecember 4, 2017; 4 years ago (2017-12-04)
Founder
  • Michael McNamara
  • Raymond Cline Jr.
HeadquartersThe Woodlands, Texas
Websitelancium.com

Lancium is a US based software and technical solutions provider. The power management company builds infrastructure and operates data centers aimed at balancing the power grid stability and uplifting wind and solar energy production.[1][2][3]

History

Lancium was founded in 2017, by Michael McNamara and Ray Cline. The company is based in Houston and is headquartered in The Woodlands, Texas,[4] where it has its executives, power trading, and engineering offices. It began its operations by locating data centers close to locations where there is an abundance of renewable power generation sources. The company was established for creating infrastructure, software, and technological solutions that facilitates the reduction in carbon emissions by the power grids. It focuses on building infrastructures for cryptocurrency mining and other energy intensive companies that are equipped with renewable energy sources that optimize the cost and usage of energy.[5][6][7]

The company secured its early funding from SBI holdings. In 2001, it secured funds amounting to $150 million to build bitcoin mines from several power companies, including the Hanwa solutions.[8][9][10][11] The company aimed at building a clean campus data center with over 2,000 megawatts capacity in Texas.

In March 2022, Lancium invested in Monarch Energy, which is a California-based company, established to develop green hydrogen across the states of North America.[12]

Solutions

  • Lancium Smart Response™ - The software works on enabling the data centers to adjust their energy consumption based on the conditions on the power grid which optimizes the cost and usage of energy. The software allows the data centers to ramp their power consumption up or down based on the power grid conditions such as grid frequency and price. This helps in dealing with unplanned events occurring due to the shutdown of a large power generation unit by diverting the needed power to the grid within seconds. Lancium’s smart response software is protected under 16 patents. The software is certified as a Controllable Load Resource by the Electric Reliability Council of Texas (ERCOT).[13]
  • Lancium Clean Campus - Clean Campuses are established in regions where there is an abundance of renewable power generation. Paired with Lancium smart response software, its clean campuses operate on the basis of power prices. When the prices are low they consume renewable power or return power to the transmission grid when it is needed by revamping their power consumptions through the software. Currently, Lancium operates two “clean campus” data centers, in Fort Stockton and the City of Abilene, Texas.[14][15] The Fort Stockton clean campus is a 110 acres campus with 325 megawatt capacity and hosts Bitcoin mining operations. The Abilene clean campus is 875 acres of space with 200 megawatt capacity and hosts high throughput computer applications.[16][17][18]
  • Lancium Compute - The service enables its customers to benefit from both Lancium Smart Response™ technology and the Clean Campus data centers. The technology allows the Clean Campuses to supply the Lancium Compute cloud with low carbon electric supply at a low cost without any ingress or egress fees.[19] It also provides stability to the power grid thereby enhancing the value of renewable power generation and reducing the grid’s carbon emissions.[20][21]

Litigation

In August 2020, Lancium filed a suit against Bitcoin mining company Layer1 Technologies alleging that the company had infringed upon their patented software smart response. The dispute was settled in March 2021, where both the companies agreed upon entering a mutually beneficial partnership contract according to which Lancium will be providing software services to Layer1.[22][23]

In the media

References

  1. Peckham, Oliver (2 August 2022). "Inside an Ambitious Play to Shake Up HPC and the Texas Grid". HPCwire. Retrieved 30 August 2022.
  2. "Lancium LLC". www.linknovate.com. Retrieved 30 August 2022.
  3. "Power Management Firm Lancium Signs $2.4B Data Center Development Deal". uk.finance.yahoo.com. Retrieved 30 August 2022.
  4. Parise, Lorrie (4 January 2022). "Lancium Technologies Brings Corporate Headquarters to The Woodlands®". Hello Woodlands. Retrieved 30 August 2022.
  5. "Renewable Energy Patent Infringement Dispute Ends in Settlement | DisputeSoft". www.disputesoft.com. Retrieved 30 August 2022.
  6. "Can crypto become a leader in sustainability?". World Economic Forum. Retrieved 30 August 2022.
  7. "Power and Money: Stranded energy and cryptocurrency in West Texas". newswest9.com. 2022. Retrieved 30 August 2022.
  8. Crooks, Ed (27 May 2022). "Bitcoin is set to reshape the Texas power market". www.woodmac.com. Retrieved 30 August 2022.
  9. Sigalos, MacKenzie. "This Houston tech company wants to build renewable energy-run bitcoin mines across Texas". CNBC. Retrieved 30 August 2022.
  10. "Lancium Raises $150 Million To Build Bitcoin Mines Running Off Renewable Energy". www.nasdaq.com. Retrieved 30 August 2022.
  11. "Lancium raises $150M for clean crypto mines, leases entire floor in The Woodlands for new HQ". www.bizjournals.com. Retrieved 30 August 2022.
  12. "Lancium invests in US green hydrogen developer Monarch Energy". Renewablesnow.com. Retrieved 30 August 2022.
  13. "Impacts of Large, Flexible Data Center Operations on the Future of ERCOT" (PDF). lancium.com. Retrieved 30 August 2022.
  14. "EXPLAINER: What does the $2.4 billion business project coming to Abilene do?". KTAB - BigCountryHomepage.com. 12 January 2022. Retrieved 30 August 2022.
  15. Reporter-Telegram, Mella McEwen, MRT com/Midland (18 June 2022). "Fort Stockton facility aims to boost renewable energy". Midland Reporter-Telegram. Retrieved 30 August 2022.
  16. "Lancium update: Company officials outline goals, plans in Abilene - its 'flagship' location". Abilene Reporter-News. Retrieved 30 August 2022.
  17. Haddad, Bill. "(CLSK) – CleanSpark Signs Agreement To Secure Initial 200 Megawatts At Lancium's Data Centers". Benzinga. Retrieved 30 August 2022.
  18. Inc, CleanSpark (31 March 2022). "CleanSpark to Expand Mining Operations in Texas with up to 500 Megawatts of Renewable Power". GlobeNewswire News Room. Retrieved 30 August 2022.
  19. Sigalos, MacKenzie. "Bitcoin miners say they're helping to fix the broken Texas electric grid — and Ted Cruz agrees". CNBC. Retrieved 30 August 2022.
  20. Desk, Area Development News (23 December 2021). "Lancium Plans Abilene, Texas, Data Center-Bitcoin Campus". Area Development. Retrieved 30 August 2022.
  21. Byung-wook, Kim (24 November 2021). "Hanwha invests $100m in Lancium to address excess renewable energy in Texas". The Korea Herald. Retrieved 30 August 2022.
  22. "Bitcoin Mining Infrastructure Provider Lancium to Bolster Battery-Powered Demand Response at 25 MW Texas-Based Facility – Mining Bitcoin News". news.bitcoin.com. Retrieved 30 August 2022.
  23. "Explained | How to invest in ecofriendly cryptos". cnbctv18.com. 30 April 2022. Retrieved 30 August 2022.

External links