Mitsubishi Electric (MIELY) Power Products, in collaboration with its parent company Mitsubishi Electric Corporation in Japan, announced an $86M investment in advanced switchgear production and power electronics in the U.S. This investment is driven by the increasing demand for transmission and distribution grid products as the U.S. moves toward renewable energy and decarbonization goals. MEPPI will construct a new approximately 160,000 square foot Advanced Switchgear Factory in Western Pennsylvania, marking MEPPI’s first new manufacturing facility in over a decade. Initially, the factory will focus on the production of both vacuum and gas circuit breakers. As the factory scales its operations, it will transition to predominantly manufacturing vacuum circuit breakers, aligning with MEPPI’s commitment to meet the evolving needs of U.S. electric utilities and support the nation’s broader decarbonization efforts. Upon reaching full capacity, it is anticipated that the facility will employ more than 200 full-time workers. MEPPI will also expand and upgrade its existing facilities in Warrendale, PA, with investments in power electronics and test labs. The company received a funding proposal from the Department of Community and Economic Development for a $4M Redevelopment Assistance Capital Program grant and a $2.75M Pennsylvania First grant.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MIELY: