'DTS, an SBI Investment Portfolio Company, Passes KOSDAQ Preliminary Listing Review'

Venture capital firm SBI Investment announced on July 23 that DTS, a total solution specialist in heat exchangers and a company within its investment portfolio, has passed the preliminary review for listing on the KOSDAQ by the Korea Exchange. DTS was granted an exception during the review for possible duplicate listings.

SBI Investment participated as an investor in DTS in August 2025. At that time, the firm projected long-term growth for the energy infrastructure market due to a combination of increasing energy security concerns, surging electricity demand from the expansion of artificial intelligence (AI) data centers, and growing investments in liquefied natural gas (LNG) and combined cycle power generation infrastructure. SBI Investment also took note of DTS's status as an innovative company based in Gunsan, Jeonbuk. The firm has a track record of investing consistently in promising companies located outside the capital area, such as Innotech (Cheonan), Green Optical (Cheongju), and NBR Motion (Miryang).

Expectations of an "energy supercycle"—with simultaneous expansion in LNG plant and power infrastructure investments—also influenced the investment decision. SBI Investment cited DTS's product competitiveness, high technological barriers to entry, global project execution experience, and stable profitability, all of which enable the company to convert expanding demand into actual orders, as key factors for its investment.

In 2025, DTS recorded revenue of 142.7 billion won and operating profit of 25.1 billion won, with a backlog of orders totaling approximately 144.3 billion won as of the end of last year. DTS plans to drive significant external growth this year based on its secured order backlog.

SBI Investment believes that DTS is set to be a direct beneficiary of the energy supercycle. This is because DTS's main products—air-cooled heat exchangers (AFC) and air-cooled condensers (ACC)—are essential core equipment for LNG, refinery, petrochemical plants, and power generations. The company is also strengthening its cost competitiveness by incorporating AI-based welding robots into its operations.

Furthermore, DTS is expanding its business areas by leveraging its heat exchanger design and manufacturing capabilities. Its goal is to foster mid to long-term growth in the eco-friendly energy sector, including waste heat recovery systems that convert surplus heat into electricity, carbon capture equipment, and hydrogen plants.

A representative from SBI Investment stated, "The approval of this preliminary listing review is significant as it demonstrates SBI Investment’s ability to proactively identify changes in the global energy industry and invest in companies with technological competitiveness. We plan to continue investing in companies that create new demand with differentiated technologies."

This content was produced with the assistance of AI translation services.