Hyosung Heavy Industries was recognized as a company with the highest level of operational capabilities in the global ESS (energy storage system) market.

□ Listed as BNEF Energy Storage Tier 1 for the 1st & 2nd quarters of 2024 consecutively

Hyosung Heavy Industries announced on the 25th that it was listed in ‘Energy Storage Tier 1’, published by BNEF (Bloomberg New Energy Finance), a leading market and trend research company in the renewable energy market, in recognition of the prominent ESS companies.

Published every quarter, Energy Storage Tier 1 is a report that selects excellent industrial battery suppliers and companies with system supply and operational capabilities in the global ESS market. For the second quarter this year, Hyosung Heavy Industries was listed again as a Tier-1 company, following its same feat in the first quarter.

With its listing as an excellent company for two straight quarters, this significant feat validates the superior capabilities of a Korea-based company among the world-leading Chinese suppliers that dominate the ESS market.

□ ESS business, No. 1 in S. Korea since 2018∙∙∙Expanding into the global market in 2023

Hyosung Heavy Industries is a world-class ESS supplier that installs, operates and manages ESS capabilities in more than 200 regions around the world, and boasts a total performance of 2.7GWh.                                       

After launching its ESS business in the late 2000s, it has been supplying ESS to renewable energy power plants and factories nationwide, including Incheon, Gyeongnam, and Jeonnam, for about 20 years, ranking first in domestic market share in 2018. 

In particular, based on its prowess in designing and operating heavy electric equipment and substations, it has been recognized as a provider of ESS total solutions, including substations, in the ESS sector, which is regarded as a core product in the renewable energy field.

After venturing into the global business by supplying 68MW/292MWh ESS to South Africa last year, the company has also been actively expanding into other global markets, such as the UK. It plans to supply products and provide optimal solutions in the global market by capitalizing on its EPC (engineering, procurement, construction) and O&M (operational mgmt. & maintenance) capabilities.      

CEO Tae-hee Woo of Hyosung Heavy Industries said, “Our listing in Energy Storage Tier 1 is a truly praiseworthy feat that validates our company’s world-class prowess and prestige in the global new and renewable energy market.” He added, “We will advance into a world-leading total power solution company in not only power facilities like ultra-high voltage transformers but also ESS, STATCOM and HVDC.”