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Hyosung Chairman Cho Hyun-joon Pivots Marketing of New Renewable Energy around the US Power Market

published: 2019-04-16 11:10

Hyosung Heavy Industries Corporation (KRX:298040) has announced the entry of their industry-leading Energy Storage Systems (ESS) into the fast-growing U.S. market. The ESS department, part of Hyosung Heavy Industries’s Power and Industrial Systems Performance Unit, recently formed and opened their business in the U.S.

The ESS division of Hyosung Heavy Industries offers a diverse product line which includes their Power Conditioning Systems (PCS). In addition to their PCS, the company also manufactures the Power Management Systems (PMS), which are used to communicate and optimally control the hardware and batteries.

The cutting-edge energy storage products can be paired with renewable generation sources such as solar PV in a microgrid configuration or be used as a stand-alone battery storage system. As the need for more efficient use of renewable and clean power increases in the U.S., Hyosung Heavy Industries’s advantages of company strength and product experience will be valuable assets to utilities and commercial customers alike.

Hyosung Heavy Industries has been the largest whole-system ESS supplier in S. Korea, which in 2018 was the world’s biggest energy storage market. The U.S. market is projected to become the largest in 2019.

“Hyosung Heavy Industries seeks new businesses around environment-friendly energy and future grid through its existing main products such as extra high voltage transformers and circuit breakers as well as STATCOM, HVDC, ESS and hydrogen refueling,” Chairman Cho Hyun-joon said, “With a goal of becoming a leading corporation in the world electric power market, we strive to be a global provider of total energy solutions by fusing big data and information technologies.”

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