Forbes recently published an interview with Modus X CEO Dmytro Osyka. Modus X, formerly the IT division of DTEK, was spun off as a separate company in September 2022 and has been growing rapidly ever since. Today, the company serves not only DTEK but also external clients — although the share of third-party contracts remains relatively small. Modus X also has ambitions to develop its own products.

Scroll highlights the key takeaways.

Revenue and Clients

• Modus X is one of the few Ukrainian IT service companies whose revenue grew significantly in 2024 — by 30%, reaching UAH 1.8 billion, according to YouControl.
• CEO Dmytro Osyka projects that the company’s revenue could double in 2025, reaching UAH 3.7 billion, based on YouControl data. Even under a more conservative scenario, revenue is expected to grow by 50%.
• The company currently employs nearly 700 specialists. Osyka himself has worked at DTEK for almost 20 years, starting as a developer in the company’s IT department.
• Becoming an independent company has allowed Modus X to increase its earnings by attracting external clients. In 2024, the company signed 14 new contracts, but the brands are protected by NDAs.
• As of March 2025, DTEK still accounts for 82% of Modus X’s projects.

Modus X Solutions

• Modus X has developed 120 digital solutions for DTEK, about 10% of which are AI-based.
• One example is an AI algorithm that optimizes coal transportation costs. It analyzes transport conditions, road infrastructure, demand forecasts, and warehouse coal stocks to identify the fastest and most cost-effective delivery routes. In 2024 alone, the solution saved DTEK UAH 25 million. In the long term, it is expected to save up to UAH 100 million annually, according to Osyka.
• Another solution forecasts equipment breakdowns at DTEK’s Kurakhiv and Zaporizhzhia thermal power plants, helping to plan maintenance and reduce accident risks. Preventative repairs save tens of millions of hryvnias that would otherwise be spent on unplanned outages.
• Modus X has also developed an AI model for forecasting electricity generation at the Tiligulske Wind Farm, as well as the Pokrovsk and Nikopol solar power plants. The system helps optimize energy supply planning based on weather forecasts, electricity consumption, and historical data — potentially saving DTEK up to UAH 20 million annually.
• Also, as of March 2025, Modus X is working on 77 additional solutions that could become standalone products.