Hyosung Heavy Industries said on the 15th that it secured contracts worth a combined 386.5 billion Korean won, approximately $286 million, from two US big tech companies to supply extra-high-voltage transformers for AI data centers being built in the southern and northern United States. The orders cover 765-kilovolt transformers worth 220 billion won and 345-kilovolt transformers worth 166.5 billion won. Goldman Sachs projects US data center power demand will grow at a compound annual rate of 15% through 2030, supported by about $50 billion in new power infrastructure investment. Hyosung has maintained the No. 1 share of the US 765-kilovolt transformer market since the early 2010s, with roughly half of the transformers currently installed on the US transmission grid supplied by the company. It also makes extra-high-voltage circuit breakers ranging from 72.5 to 800 kilovolts and is seeing increased demand for STATCOM power-stabilization equipment. The Memphis, Tennessee, transformer plant acquired in 2020 is being expanded to become the largest extra-high-voltage transformer production facility in the United States. Hyosung also formed a circuit-breaker joint venture with Quanta in July and earlier this month created a Data Center Business Team covering transformers, circuit breakers, energy-storage systems, microgrids and STATCOM. Cumulative new orders reached about 9.3 trillion won through August, prompting the company to raise its annual target to 12 trillion won from 8.4 trillion won. Hyosung Group Chairman Cho Hyun-joon said the company aims to become a global top-three player within five years through a portfolio spanning transformers, circuit breakers, HVDC, STATCOM and ESS.