Shinseong ST Emerges as a Dark Horse in ESS Production

Expanding Local Production in North America This Year
Order Backlog Surpasses 5 Trillion KRW

Shinsung ST Co., Ltd., which has global production lines for secondary battery-related components in Changwon, Gyeongnam, Vietnam, and China, is showing strong performance, surpassing 5 trillion KRW in order backlog as it expands the production of key components for large-scale storage batteries ESS to North America.

Overview of Shinsung ST Factory.

Shinsung ST, which produces key components for ESS and electric vehicle sectors accounting for 80% of total sales, mainly manufactures module cases called Flexible and water-cooled thermal management components such as heat sinks. The operating performance of the listed company Shinsung ST was disclosed by SK Securities.

Since last year, Shinsung ST has received orders for local contract manufacturing of medium-to-large ESS finished products from a major secondary battery cell manufacturer, and from this year, it has established a production system in Kentucky, North America.

The 5 trillion KRW worth of orders received by this year are expected to take 6 to 7 years until delivery, so annual production is projected to be between 600 billion and 800 billion KRW.

Researcher Na Seung-doo of SK Securities stated, “Due to the increase in power demand, the demand for energy self-sufficiency is rapidly increasing in the North American region, and the production demand for ESS-related industries is expected to surge.” He added, “Shinsung is also expanding its production line in Kentucky, USA from this year to prepare for the demand related to secondary batteries in the Americas.”

This content was produced with the assistance of AI translation services.