LS Electric signs $220M dealwith Bloom Energy

April 29 (UPI) -- LS Electric has secured another major contract in North America, reinforcing its position as a key player in the region's power infrastructure market.

The company announced on April 29 that it signed a distribution solutions supply agreement worth approximately 319 billion won($220 million) with Bloom Energy.

Under the deal, LS Electric will supply essential power distribution systems-including switchgear and transformers-for a hyperscale data center project being developed by a major global tech company in New Mexico.

The contract comes amid rising demand for power infrastructure driven by rapid expansion in the AI industry and increasing investment in data centers by global tech giants. An LS Electric official said the deal demonstrates the company's technological competitiveness and project execution capabilities.

Earlier this month, LS Electric also secured a separate 170 billion won ($117 million) contract for a major data center power solutions project. Building on these achievements, the company aims to sustain strong performance following its record-breaking first-quarter results.

In the first quarter, LS Electric reported consolidated revenue of 1.3766 trillion won ($949 million) and operating profit of 126.6 billion won ($87 million) -its highest-ever first-quarter performance.

To strengthen its competitiveness, the company plans to expand its supply chain and increase local production in key U.S. hubs such as Utah and Texas, improving delivery capabilities.

LS Electric is also accelerating its push into next-generation data center technologies, particularly direct current (DC) power distribution. Leveraging its low-voltage direct current (LVDC) solutions and "DC factory" operational expertise, the company aims to gain an early foothold in the emerging market.

An LS Electric official said, "As AI adoption drives rapid growth in data center power demand, we will expand our presence in North America by strengthening local supply chains, partnerships, and core technologies such as next-generation DC solutions."

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This story was originally published April 29, 2026 at 7:49 PM.