EnergyX

EnergyX Inc.

Native name

| 에너지엑스 주식회사
Company type| Private
Industry|

* Architecture
* Information Technology
* Online Services
* Engineering
* Big Data

Founded| 2019
Founder|

* Sean Park
* Tom Hong

Headquarters| Seoul, South Korea

Area served

* South Korea
* Japan
* Netherlands

Key people

* Sean Park
* Tom Hong
* Bo Jung
* Paul Song
* Sangbum Lee

Website| energyx.ai

EnergyX Inc. (Korean: 에너지엑스 주식회사), headquartered in Seoul, South Korea, is a sustainability architectural platform and energy technology company.[1]

EnergyX provides architectural platform services, alongside sustainability and energy solutions that span across software, hardware, and consulting domains.[2]

## Overview[edit]

EnergyX was founded in 2019 by Sean Park (Korean: 박성현) and Tom Hong (Korean: 홍두화).[3]

EnergyX is uses data-driven technology in sustainable architecture. The company's IT platform integrates a wide range of suppliers and proprietary technologies, streamlining the processes involved in sustainable building construction.[4]

The company's suite of services caters to architects, building owners, and construction companies, offering a solution for both new construction and retrofitting projects designed to meet green building standards, such as Zero Energy Building (ZEB) and Leadership in Energy and Environmental Design (LEED). EnergyX also supports various energy transition initiatives, including Environmental, Social, and Governance (ESG) compliance and the RE100 initiative.[5]

## History[edit]

Sean Park and Tom Hong originally founded the investment technology platform company, Xquare Inc. (Korean: 엑스퀘어 주식회사; previously known as Energy Exchange), in 2018. Their vision was to facilitate investments in global renewable energy and sustainable construction projects for both corporate entities and individual investors.[3] However, as they delved deeper into the industry, they identified shortcomings in the implementation and management of energy technologies in the market. In response to these challenges, they decided to establish an ecosystem dedicated to addressing these issues, leading to the creation of EnergyX in February 2019.

Within three months, EnergyX and Xquare merged, making Xquare a subsidiary company of EnergyX in May 2019.[6]

EnergyX, however, raised Hyundai-led venture capital funding, with Xquare serving as one of the company's main business lines.[3] This funding process spanned from the Seed round ($100k in 2019) to the Pre-Series A round ($3 million in 2019) and partially extended to the Series A round ($8.1 million in 2020).[7]

The company's architectural platform and energy technology business began to gain traction from 2020 onwards.[8] The company was also selected as the first energy company to participate in the esteemed K-Unicorn program by Korea's Ministry of SMEs and Startups.[9]

EnergyX transitioned from primarily serving individual and smaller construction projects to catering to a broader market, which included larger corporate entities such as KB Financial Group,[10] Oriental Brewery,[11] Atlas Copco,[12] among others.

EnergyX DY-Building (에너지엑스 DY빌딩), the first commercial Net-Zero Energy Building (NZEB, or ZEB grade 1) and the first Plus Energy Building (+ZEB, or ZEB grade plus) in Korea was opened and introduced in 2023.

In 2021, EnergyX surpassed its local competitors, emerging as a leader in the architectural platform market in Korea. By 2022, the company had accumulated a construction traffic volume exceeding $1 billion cumulatively.[13]

Despite facing the challenging fundraising landscape of the decade, the company obtained an oversubscribed Series B funding round, led by Shinhan Financial Group, amassing $20 million at $120 million valuation in January 2023.[14]

In 2023, EnergyX opened the EnergyX DY-Building (Korean: 에너지엑스 DY빌딩), the first commercial Net-Zero Energy Building (NZEB, or ZEB grade 1), and the first Plus Energy Building (+ZEB, or ZEB grade plus) in South Korea.[15] The construction, design, and engineering of this project were led by EnergyX, leveraging its proprietary technologies and services. EnergyX DY-Building received ZEB certification with an energy independence rate (or energy self-sufficiency rate) of 121.7%, which marks the building as a carbon neutral, energy-efficient building.[16]

## References[edit]

1. ^ "에너지엑스, 포브스 선정 '2023 가장 빠르게 성장하는 스타트업 50'에 선정돼 '주목'". 이슈앤비즈 (in Korean). 2023-06-14. Retrieved 2023-10-30.
2. ^ 머니투데이 (2023-09-07). "에너지엑스, 2023 대한민국 4차산업 리딩기업 대상 수상". 머니투데이 (in Korean). Retrieved 2023-10-30.
3. ^ a b c "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 2023-10-30.
4. ^ "[굿시티포럼 2023] "지속 가능한 도시, 에너지 자립에서 시작된다"". 시사저널 (in Korean). 2023-08-30. Retrieved 2023-10-30.
5. ^ 머니투데이 (2023-05-17). "에너지엑스, 2023 탄소중립 엑스포에서 지속가능 건축 플랫폼 및 비전 제시". 머니투데이 (in Korean). Retrieved 2023-10-30.
6. ^ 벤처스퀘어 (2020-07-24). "에너지금융 플랫폼 '에너지엑스스퀘어' 프리시리즈A 투자 유치". 벤처스퀘어 (in Korean). Retrieved 2023-10-30.
7. ^ "ESG & sustainable architecture platform Energy X completes Series B funding round successfully - KoreaTechDesk | Korean Startup and Technology News". www.koreatechdesk.com. 2023-01-20. Retrieved 2023-10-30.
8. ^ "박성현 에너지엑스 대표, "신재생에너지 업계의 아마존 될 것"". 한국일보 (in Korean). 2020-09-07. Retrieved 2023-10-30.
9. ^ "소셜에너지 플랫폼 '에너지엑스', 아기유니콘 육성사업 선정". 한국일보 (in Korean). 2021-05-25. Retrieved 2023-10-30.
10. ^ "에너지엑스, KB금융그룹 'KB스타터스', KB국민카드 'FUTURE9'에 동시 선정". 매일경제 (in Korean). 2021-11-25. Retrieved 2023-10-31.
11. ^ "에너지엑스, 오비맥주 원스톱센터 재생에너지 플랫폼 제공". 투데이에너지 (in Korean). Retrieved 2023-10-31.
12. ^ 머니투데이 (2023-10-04). "에너지엑스, 그린리모델링 통해 아트라스콥코의 RE100 지원". 머니투데이 (in Korean). Retrieved 2023-10-31.
13. ^ "에너지엑스, 지속가능한 건축 플랫폼 서비스 선보여". 에너지데일리 (in Korean). 2022-11-11. Retrieved 2023-10-31.
14. ^ Park, Kate (2023-02-01). "Energy X secures $20M at $120M valuation to slash building sector emissions". TechCrunch. Retrieved 2023-10-31.
15. ^ "에너지엑스, 국내 첫 상업용 플러스 제로에너지빌딩 건설". news.koreadaily.com (in Korean). 2023-05-26. Retrieved 2023-10-27.
16. ^ "에너지엑스, 에너지자립률 121.7%… 국내 최초 플러스 제로에너지빌딩 준공". 인더스트리뉴스 (in Korean). 2023-10-13. Retrieved 2023-10-27.