$2.1 million worth of power transformers supplied to LA Power Authority > Press release

Overview of Elpowertech located in the Hwaseong Bio Valley Complex, Gyeonggi-do

July 1, 2019 (Sun)

Elpowertech succeeds in entering the North American market

Supplies $2.1 million worth of power transformers to the LA Power Authority

Elpowertech, a manufacturer of heavy electrical equipment such as transformers and switches, has succeeded in entering the North American market. Elpowertech (CEO Choi Seong-kyu) recently announced that it has received an order for large-capacity power oil-immersed transformers from the LA Power Authority. A total of 45 power transformers, including 22 34.4kV 7.5MVA units and 23 34.4kV 500kVA units, are worth $2.1 million (approximately 2.4 billion won). Elpowertech CEO Choi Seong-kyu met with reporters and said, “We have been knocking on the door of the public procurement market by obtaining UL certification for dry and oil-immersed transformers in order to enter the North American market,” and added, “This time, we have received orders for the LA Power Authority in succession, and this is the first time we have obtained a reference in the local market. “We have successfully entered the U.S. market,” said CEO Choi. “We will actively target the 50-state power market to expand export volume.” At the end of May, Elpowertech invested a total of 20 billion won to relocate its headquarters and factory to a 16,000㎡ (approximately 5,000 pyeong) site in the Hwaseong Biovalley Industrial Complex in Gyeonggi Province. With the completion of the new factory, Elpowertech has expanded its production capacity for heavy electric equipment, including transformers and switches, by approximately three times compared to before. In particular, in addition to the existing transformer and switch product line, it plans to focus on producing items for market diversification, such as eco-load switches, transformers for OLED inverters, power supplies for semiconductors, Scott transformers, and solar power transformers. It also expanded its workforce, currently around 50 people, by 20-30% to keep pace with the expansion of production capacity and acquired new licenses for the electrical engineering and information and communications engineering businesses to advance into the new energy industry. CEO Choi said, “With the relocation to the new factory, we have been able to complete a stable portfolio centered on the three axes of transformers, switches, and systems,” adding, “We have focused on Japan, Southeast Asia, and the Middle East so far, but we plan to strengthen our responsiveness to the North American market going forward.”

Reporter Song Se-jun of the Electric Times 21ssj@electimes.com

[This post was copied from the press release (Korea) on 2022-08-25 11:21:28 by the highest administrator]