Elpowertech Obtains U.S. UL Certification - Establishing a Bridgehead for Conquering North and South American Markets > Press Release

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Elpowertech (CEO Choi Seong-kyu), a transformer exporter, has established a bridgehead for full-scale attack on the North and South American markets. Elpowertech recently announced that it has obtained UL (Underwriters Laboratories) certification and CSA (Canadian Standards Association) certification for all types of its main product, the VVVF (Variable Voltage Variable Frequency) special transformer for inverters, over 600V. Elpowertech CEO Choi Seong-kyu said, “We invested 150 million won and worked hard for about a year to obtain the certification,” and “Now that we have received UL certification for our products over 600V and up to 4,500kVA, we will actively develop the North and South American markets.” Elpowertech already has experience exporting to South American regions such as Colombia, but with this certification, it is determined to make a full-scale entry into the advanced markets of the United States and Canada. CEO Choi said, “We are targeting 20-30% annual growth in overseas markets regardless of region,” and “We will make sure to quickly make a soft landing in the North and South American markets.” With just one transformer, Elpowertech has a reputation as a leading export company in the industry, having won the $5 million export tower award in 2011, traveling to Southeast Asia, the Middle East, and other countries including Japan. In particular, it is dreaming of a second leap forward by building a new factory in Hwaseong, Gyeonggi Province within this year. Elpowertech plans to invest approximately 15 billion won to complete a new factory with a land area of 16,000㎡ and a building area of 9,000㎡ in the Biovalley Industrial Complex. The new factory will be three times the size of the existing Hwaseong factory and will produce general oil-immersed transformers, dry transformers, and transformers for export. It also plans to mass-produce eco-friendly switchgears, which are currently under development, at the new factory. Elpowertech is currently developing a 25.8kV eco load switch to enter the KEPCO switch market. Reporter Song Se-jun 21ssj@electimes.com Written: Thursday, April 28, 2016 09:33 Posted: Friday, April 29, 2016 14:52