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 Corporation’s Power and Industrial Systems Performance Unit, recently formed and opened their business in the U.S.
The ESS division of Hyosung Heavy Industries Corporation offers a diverse product line which includes their Power Conditioning Systems (PCS). These advanced products range in size from 125kW (kilowatts) to over 2MW (megawatts) and serve the commercial, industrial, and utility-scale markets. 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’s advantages of company strength and product experience will be valuable assets to utilities and commercial customers alike. The company’s ESS provides economic savings as well as services for the grid such as increased power quality and demand response.
In 2018, the U.S. market installed approximately 780 MWh (megawatt-hours) of energy storage systems, and is projected to continue to grow rapidly up to 4.4 GW and to nearly $4.5B by 2024. Hyosung has a highly successful track record that includes over 1,280 MWh of ESS deployed over the last decade. They have 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 | http://www.hyosungheavyindustries.com