DOE Office of Electricity Tours Memphis Transformer Plant as HICO America Marks 25 Years
MEMPHIS, Tenn.—U.S. Department of Energy’s Office of Electricity Assistant Secretary Katie Jereza toured Hyosung HICO's Memphis transformer manufacturing plant today as HICO America marked its 25th anniversary. During the visit, she delivered remarks, toured large-power-transformer production, and spoke with employees and company leaders about grid reliability, manufacturing capacity, supply-chain readiness, and workforce development.
Hyosung HICO is the US subsidiary of Hyosung Heavy Industries and the parent company of HICO America. Founded in 2001, HICO America has grown into a provider of power transformers, shunt reactors, circuit breakers, gas-insulated switchgear, STATCOM and DC solutions for utility and industrial customers across North America. Since selecting Memphis for its first U.S. production facility in 2019, Hyosung HICO has invested more than $300 million in the plant — the only facility currently dedicated to manufacturing 765kV transformers domestically, the equipment that carries power on the nation’s highest-voltage transmission lines.
"For 25 years our mission has been simple: build the equipment that keeps America’s lights on. Today we celebrate the people who do it — the men and women here in Memphis and throughout the US at HICO America whose work reaches millions of Americans every day. What we do matters. And we are just getting started."
— Jason E. Neal, President, Hyosung HICO, Ltd., Senior Executive Vice President, HICO America, and President, Hyosung HICO Breaker
“A grid upgrade can hinge on a transformer being ready when it’s needed,” said Katie Jereza, assistant secretary of the U.S. Department of Energy’s Office of Electricity. “Expanding transformer production here in Memphis creates skilled American jobs and strengthens the supply chains utilities need to meet growing electricity demand and keep power reliable for families and businesses.”
— Catherine Jereza, Assistant Secretary, Office of Electricity, U.S. Department of Energy
The Memphis plant employs over 500 people and is completing an expansion that will increase manufacturing capacity by 50 percent. In July 2026, the company also began operations at Hyosung HICO Breaker LLC in Canonsburg, Pennsylvania, a joint venture with Quanta Services manufacturing 72.5kV–800kV circuit breakers.
About HICO America and Hyosung HICO, Ltd. Hyosung HICO, Ltd. is a U.S.-based manufacturer of large power transformers, serving utility and industrial customers across North America. Since proudly establishing its first domestic production facility in Memphis, Tennessee, in 2019, the company has remained committed to strengthening the American power grid and communities through local manufacturing, job creation, and reliable energy infrastructure solutions. Through its subsidiary HICO America, established in 2001, the company continues to deliver high-quality solutions including power transformers, shunt reactors, high-voltage circuit breakers, high-voltage and medium-voltage gas-insulated switchgear, STATCOM and DC solutions. For more information, visit www.hyosunghico.com and www.hicoamerica.com. Follow both of our companies on LinkedIn: Hyosung HICO | LinkedIn: HICO America for more information.
About Hyosung Heavy Industries Hyosung Heavy Industries is a global leader in heavy electrical equipment, specializing in advanced power transformers, shunt reactors, high- and medium-voltage gas-insulated substations, FACTS and DC solutions, and Smart Grid technologies. With a strong focus on the extra high voltage solutions and next-generation power infrastructure, Hyosung delivers high-performance solutions to customers across North America and worldwide. The company is committed to grid modernization, low-carbon innovation, and investing in technologies that enable reliable, sustainable power systems. For more information, visit www.hyosungheavyindustries.com. Follow us on LinkedIn.
Media Contact: tbobak@hicoamerica.com
