Want to get the inside scoop on the booming transformer market driven by renewables and infrastructure upgrades? Hear from Jesse Logue of Fortune Electric as he shares their incredible growth story, the challenges of keeping up with demand leading to unprecedented lead times, and how they're navigating supply chain complexities to remain a key player in the clean energy space.
The main topics discussed were
- The significant growth of Fortune Electric over the past 17 years, from a $50-70 million transformer business to a much larger scale, and the factors driving this growth like COVID, the Inflation Reduction Act, and grid modernization.
- The dramatic increase in transformer lead times, now ranging from two to three years, and the reasons behind this, including increased demand and supply chain impacts on sub-components.
- Fortune Electric's strategies for managing long lead times and maintaining customer relationships, such as proactive communication, pre-ordering materials, and offering slot reservations.
- The types of customers Fortune Electric works with, including utilities and EPCs in the solar industry, and the importance of project scheduling and clear communication in the ordering process.
- The future opportunities for Fortune Electric, driven by the increasing demand from data centers, the renewable energy sector, and the need for grid modernization, leading to projections of significant market growth.
