Elpowertech Makes Big Decision to Secure Leadership in North American Transformer Market > Press Release

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Investing 20 billion won to expand the second plant, focusing on production of large transformers for export to the US Securing a combined production capacity of 300 billion won for the first and second plants, targeting operation in July of this year

Pad transformers exported to the U.S. Power Administration are lined up at Elpowertech's Hwaseong Plant 1.

Elpowertech (CEO Choi Seong-kyu) is aggressively investing to take the lead in the North American transformer market.

Elpowertech recently invested about 20 billion won to expand its transformer production line for export to the US. As domestic transformer companies are entering the North American market, which was previously considered a wasteland, competition is heating up, making rapid investment and market responsiveness more important than ever.

Elpowertech has already succeeded in winning orders worth about $150 million, so it seems to be solidifying its position as a leader in transformers in the North American region through additional facility investments.

In addition to winning orders for pad transformers from the Los Angeles Department of Water and Power (LADWP) in 2021, Elpowertech signed contracts with six major US power agencies last year.

The newly expanded second factory is about 6,611㎡ (2,000 pyeong) in a 9,917㎡ (3,000 pyeong) site, and is located in the Gyeonggi Hwaseong Bio Valley General Industrial Complex, about 500m away from the existing first factory.

Currently, Elpowertech's first factory's production capacity is about 200 billion won, and the strategy is to increase the production capacity to 300 billion won by adding the second factory.

Choi Seong-kyu, CEO of Elpowertech, said, "We recently established the second factory to create new synergy. The purchase of the building has already been completed, and the expected capacity is expected to be about 70 billion won."

The second factory is expected to start operating in July. Since the purchase of the second factory building has already been completed, Elpowertech is currently focusing on establishing internal facilities such as manufacturing and buildings, and hiring personnel.

It will focus on export and large transformer production, handling voltages up to 69,000kV and capacities up to 80MVA. It will be equipped with more than 10 pieces of equipment, including two 50t and 30t cranes, as well as vacuum drying equipment, shock pressure relays, induction machines, and testing equipment.

CEO Choi said, “We want to create a new paradigm that combines IT and AI with existing traditional manufacturing. Through this, we will take the lead in leading the innovative transformer market.”