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Hyosung Heavy Industries Makes Inroads into Japanese Market with Innovative STATCOM Technology

South Korea
h 298040.KO Mid and Small Cap 2000
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South Korea’s Hyosung Heavy Industries marked a milestone by shipping a container-type stationary reactive power compensation device (STACOM) to Japan’s Kobe Steel through a collaboration with Nisshin Electric. This breakthrough, leveraging the company’s MMC STATCOM technology, promises stable control of substantial power in intelligent grid systems. Notably, it represents the first instance of a company, known for producing building-type STATCOMs, venturing into the Japanese market with container-type solutions.

STATCOM technology employs power electronics to ensure consistent voltage levels amidst the variable output of renewable energy sources like wind and solar power. It finds crucial application in power-intensive sectors, such as steel manufacturing, mitigating flickering issues caused by rapid voltage fluctuations. The container-type variant, a notable advancement over traditional building-type models, offers expedited installation and greater flexibility in responding to transient power demands or unforeseen events.

Takeshi Yokota, CEO of Hyosung Heavy Industries, emphasized the global surge in adopting renewable energy and decarbonization efforts across industries. He pledged to meet the escalating international demand for container-type solutions through customer-centric innovation and efficient management.

The company’s foray into the Japanese market follows a series of strategic moves in the overseas STATCOM sector. In the first half of this year, Hyosung secured three contracts for STATCOM supply in the eastern United States. Additionally, a groundbreaking contract was inked in July with the Taiwan Power Corporation (TPC) for the supply of a 200-megabar (Mvar) STATCOM unit, underscoring the company’s commitment to advancing sustainable energy solutions worldwide.

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