[Edaily Reporter Shin Ha-yeon ] Luxco, which is pursuing a merger with IBKS No.24 Special Purpose Acquisition Company(469480), announced on the 12th that its new orders for power equipment totaled 56.7 billion won from January through October of this year.

The company explained that orders are expanding, particularly for marine and land-based power equipment, as demand for power equipment has recently increased in industrial production facilities—including semiconductor manufacturing plants (fabs)—and the shipbuilding sector.

Luxco is a company specializing in power equipment that develops and manufactures marine and land-based switchgear and power control systems. With switchgear—which ensures the stable supply and distribution of power—as its flagship product, the company supplies these systems to ships, power generation facilities, and industrial plants.

A power distribution panel is a device that distributes and controls electricity transmitted from a power source to various pieces of equipment. Marine power distribution panels are responsible for supplying and controlling power to major equipment on board ships, while land-based products are used in power supply systems for power generation facilities and industrial plants.

Luxco has established a production system capable of handling everything from product design to manufacturing, testing, and delivery. The company explained that it has secured one of South Korea’s three major power equipment manufacturers as a client and has been supplying marine and onshore power equipment to this client for an extended period.

There are also forecasts that demand for power equipment will increase due to the recent proliferation of artificial intelligence (AI) data centers and expanded global investment in power grids. Luxco plans to expand its new project orders based on its proven track record of supplying equipment to industrial production facilities and the shipbuilding sector.

The company intends to strengthen the competitive edge of its core products in response to increased investment in power infrastructure, while expanding its business scope based on its relationships with existing clients. However, the 56.7 billion won announced this time represents new order value; actual revenue will be recognized based on delivery schedules and other terms specified in each contract.

Meanwhile, Luxco is pursuing a listing on the KOSDAQ market through a merger with IBKS No.24 Special Purpose Acquisition Company. Following the listing, the company plans to expand its growth foundation in domestic and international power infrastructure markets by enhancing technological development and business competitiveness.

A Luxco official stated, “This year, we are seeing expanded order intake as supply contracts for major projects—centered on marine and land-based power equipment—continue to come in,” adding, “Based on our technological capabilities and track record of successful deliveries, we will strengthen our competitiveness in the power infrastructure market and accelerate earnings growth starting this year.”