KUALA LUMPUR, Aug 4 (Bernama) -- Lumora, South Korea's first Independent Power Producer (IPP) dedicated to underutilised industrial space, has closed a pre-seed financing round led by a fund anchored by Yuhan-Kimberly and managed by My Social Company (MYSC), alongside HGI and other strategic investors.
Financial terms remain undisclosed. The company said it plans to continue raising capital from global investors as it scales its pipeline.
“Every factory has a unique load profile and energy environment. Lumora's edge is the ability to run integrated energy diagnostics and back the right solution with our own capital, from generation to management to savings,” said Lumora Chief Executive Officer, Hyungjun Kim.
According to Lumora in a statement, Korea's industrial sector has an estimated US$145 billion worth of untapped rooftop and parking space. (US$1=RM4.09)
Unlike fee-based developers, Lumora directly owns and operates solar assets under a full-stack IPP model, securing long-term generation revenue while delivering energy savings to customers.
Since its founding, Lumora has assembled a 43.6 megawatt (MW) nationwide pipeline across Korea, securing co-investment from major conglomerates and earning back-to-back government recognition through the 2026 Eco-Startup Growth Program and the 19th Startup NEST cohort.
The company targets three layers of the industrial energy stack, namely solar generation through rooftop leasing and its newly launched ZeroOne self-consumption subscription, energy management through proprietary FEMS integration, and energy savings through planned ESCO projects.
Lumora’s model mirrors that of Altus Power in the United States and CleanMax in India, both of which have built significant enterprise value through asset accumulation in industrial distributed generation.
-- BERNAMA