Listed gaming firm DFNN to invest in space technology, data centers

ABS-CBN News

Posted at May 18 2022 11:00 AM

MANILA - Listed gaming technology platform DFNN Inc on Wednesday said it would invest in data centers and space technologies to expand its business. 

DFNN taps partners from Silicon Valley for "cutting-edge" data centers with zero waste water, 100 KW per rack and 1.15 Maximum Power Usage Effectiveness (PUE), it said in a disclosure to the stock exchange.

DFNN said it would also invest in space technology platforms and space sustainability support systems involving artificial intelligence that is capable of expansion in the Philippines.

The second key investment involves supporting the industry around near space, low earth orbit and space tourism, among others, with the development of spaceports and space industries and its ancillary operations, DFNN said. 

The space industry has said to have surpassed $366 billion in annual market size and is also expected to continue growing, the company said.

"We look forward and remain focused on working with the new administration and bolstering our investments in the Philippine economy in spite of the daunting task of rebuilding the economy ravaged by the pandemic and significant external economic headwinds," DFNN CEO Calvin Lim said.

In a March announcement by the Department of Trade and Industry, Trade Secretary Ramon Lopez said he has met with officials of Elon Musk's SpaceX for the potential rollout of its low-earth orbit satellite technology called Starlink.

During the said meeting DFNN Executive chairman Ramon Garcia Jr was also present along with Lopez and SpaceX officials.

DFNN did not confirm nor disclose its role in Starlink's Philippine entry.

The DTI said the company is in the process of securing permits to launch operations locally.

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