Producer of chips will receive a financial aid

US company Tachyum wants to develop a new processor in Slovakia.

Illustrative stock photoIllustrative stock photo (Source: SITA)

The company Tachyum will receive €15 million from the Slovak government to develop a new processor.

The cabinet approved the proposal submitted by Finance Minister Peter Kažimír (Smer) at its March 6 session. The repayable financial aid should not have an effect on the expected budget deficit, the SITA newswire reported.

SkryťTurn off ads
Article continues after video advertisement
SkryťTurn off ads
Article continues after video advertisement

The technology company Tachyum focuses on industrial research and the development of new technologies. Its Slovak subsidiary has turned to the Finance Ministry with a request to support the project, whose aim is to develop new Tachyum Prodigy processor. It is a microprocessor with high performance, low energy consumption and three times lower costs for the operators of data centres compared with the best chip on the market, reads the submitted document.

SkryťTurn off ads

Slovakia’s focus on automotive industry should change

With its programme, Tachyum can bring a technological turning point in the development and production of chips, said Kažimír after the governmental session.

The interest rate for the instalment was set to 4 percent p.a., while the payback period is 10 years. The money is expected to be used on the establishment of a research centre.

“Slovakia needs to come off the automotive industry in some parts and fight for technological leaders in other global businesses,” Kažimír added, as quoted by SITA.

Tachyum’s product is unique due to its universal ability to perform the tasks of data centres and high performance computing and/or artificial intelligence. Currently, no other chip in the world has this ability. In order for the progress of the company to be successful, it is necessary to build a new research and development centre that will help the development of the microprocessor’s software reach the final phase: the commercionalisation of the product, according to the Finance Ministry.

SkryťTurn off ads
Read also: Slovak develops chip to simulate brain Read more 

“Only a few people realise that internet services consumed 2.5 percent of global energy in 2016, which is 40 percent more than the UK, or produced more combustion products than the air industry,” said Radoslav Danilák, head of Tachyum, as quoted by SITA.

If the IT industry rises by 15 percent a year, the share of this sector in world energy consumption will represent 10 percent in 2030 and 40 percent in 2040.

“Our product reduces the energy consumption by one to ten, which means that we will be able to enjoy IT development for the next 30-40 years without exhausting the entire energy of our planet,” Danilák added, as quoted by SITA.

Why Slovakia?

By choosing Slovakia, Tachyum will enable the synergy of top experts from Silicon Valley and Slovakia, or Europe, the Finance Ministry said.

In the case of Slovakia, Tachyum will create possibilities to increase expenditures on science, research and innovations. Moreover, there may also be a higher demand for a highly-qualified labour force and the diversification of the Slovak economy, according to the ministry.

Tachyum is considering placing its R&D centre, as well as trade and service centre for the entire EMEA region, China and South America, in Slovakia due to the protectionist trade policy of the USA.

The Finance Ministry expects the company to perhaps hire 150 people in five years after launching production and generating an annual turnover of €220 million, SITA reported.

Top stories

Cycling routes can be found all around Bratislava.

Weekend: Dust off your bike and cycle along the Morava

Bike rides, creating your own art, the history of Book Month and more.


24. mar
Volkswagen will make all-electric versions of the Porsche Cayenne luxury SUV.

News Digest: Volkswagen Slovakia to produce all-electric luxury SUV

LGBT+ minority could face new difficulties, a suspect is charged in the Daniel Tupý murder case.


24. mar
Filip Toška holding chard in the hydroponic Hausnatura farm.

How a Mayan doomsday prophecy took a Slovak to hi-tech agriculture

Hydroponic farm run out of former telephone exchange.


9. mar
University student Daniel Tupý was murdered in November 2005 in Bratislava.

NAKA charges suspect in Daniel Tupý murder case

Eight out of the ten suspects detained this week have now been released.


24. mar
SkryťClose ad