RIC Power
RIC Power Corp. is a custom manufacturer of medium and low voltage switchgear delivering engineered-to-order solutions for industrial, utility, infrastructure, oil and gas, mining, marine, and data center projects across North America from its Burnaby, BC headquarters.
- Company typePrivate
- Founded2012
- HeadquartersBurnaby, Canada
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What RIC Power does
RIC Power Corp. is a custom manufacturer of medium and low voltage switchgear headquartered in Burnaby, British Columbia, founded in 2012 and operating as a subsidiary of Panelmatic since 2025. The company designs, engineers, and manufactures engineered-to-order switchgear solutions for industrial, utility, infrastructure, oil and gas, mining, marine, and data center projects across Canada and the United States. Its product portfolio is built around three core switchgear lines — Metal Enclosed (fixed vacuum breaker, cost-effective, compact footprint, 5-25kV), Metal Clad (drawout breakers, compartmentalized cells, up to 38kV and 4000A), and Arc Resistant (compartmentalized reinforced structure with arc exhaust plenum and chute, Type 2B certified to IEEE C37.20.7), supported by Low Voltage/UL891 Switchboards. Recent additions include a 25kV arc resistant variant (Powertech Labs tested 2020) and a 38kV UL-certified line targeting the North American data center market.
The business operates on a project-based, engineered-to-order revenue model in which each unit is custom-engineered against customer specifications rather than sold from a standardized catalog. Pricing is determined through quote requests, with multi-year contract cadence typical for large infrastructure engagements. Sales are driven by direct enterprise engagement with industrial, utility, and resource-sector customers, supported by a content marketing approach anchored on the company website, downloadable technical brochures, and an extensive project gallery documenting work for clients such as BC Hydro, Shell, Imperial Oil, Teck Resources, Pembina, Richardson Terminal, and Seaspan Victoria Shipyards. RIC Power's go-to-market is direct field sales — no distribution or reseller channel is used — and the company differentiates through customization, lead time, and vendor-agnostic integration (mixing Eaton, ABB, Schneider, SEL components).
Manufacturing is ISO 9001 certified, and the product portfolio carries CSA, ANSI/IEEE, UL, GL marine, and ABS marine certifications, with NEMA 1, 2, 3R, and 4X enclosure ratings. The company expanded into a larger facility in 2024 and was acquired by Panelmatic in 2025 to scale North American switchgear capabilities. Headcount is not publicly disclosed, though active job postings across engineering, wiring, and assembly functions indicate a growing organization. Revenue figures are not publicly disclosed.
RIC Power firmographics
Firmographics- Name
- RIC Power
- Legal name
- RIC Power Corp.
- Website
- https://ricpower.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- RIC Power Corp. is a custom manufacturer of medium and low voltage switchgear delivering engineered-to-order solutions for industrial, utility, infrastructure, oil and gas, mining, marine, and data center projects across North America from its Burnaby, BC headquarters.
- Ownership category
- akta.pro rank
RIC Power industry classification
Industry- Product category
- Electrical Switchgear Manufacturing
- NAICS
- Switchgear and Switchboard Apparatus Manufacturing (335313), Electrical Equipment Manufacturing (33531), Electric Power Transmission, Control, and Distribution (22112)
- SIC
- Switchgear & Switchboard Apparatus (3613), Electronic & Other Electrical Equipment (No Computer Equip) (3600), Electrical Industrial Apparatus (3620)
- akta.pro primary industry
- Switchgear & Switchboards (HV/MV/LV, GIS/AIS) (IMAGAAAB)
- akta.pro secondary industries
- Low-Voltage Switchboards & Panelboards (LV distribution panels, MCCs, switchboards) (IMAGAEAA), Circuit Protection Devices (MCBs, MCCBs, ACBs, fuses, RCD/GFCI, surge protection) (IMAGAEAB), Medium/Low-Voltage Power Distribution (MCCs, Panels, UPS, Grounding) (EUAEAFAB), Power Transformers, Reactors & Auxiliary Power Systems (EUADACAJ), Electrical Engineering & Power Distribution (Generation, Switchboards, Cabling, Lighting) (IMAJAGAF)
Keywords
Where RIC Power is headquartered
LocationHeadquarters
- HQ city
- Burnaby
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
RIC Power business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Custom Switchgear Manufacturing: RIC Power generates revenue through the design, engineering, manufacturing, and delivery of custom medium and low voltage switchgear solutions. Each project is engineered-to-order for specific industrial, utility, and infrastructure applications. The company operates on a project-based revenue model where products are manufactured against customer specifications with pricing determined through quote requests rather than standardized product lines.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom project-based pricing |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels5 records
RIC Power product offering
Product offeringCore offering
RIC Power Corp. is a custom manufacturer of medium and low voltage switchgear based in Burnaby, British Columbia, founded in 2012. The company designs and builds engineered-to-order electrical power distribution equipment — including metal enclosed, metal clad, arc resistant, and UL891 low voltage switchboards — for industrial, utility, infrastructure, data center, and oil & gas customers.
Product overview
RIC Power Corp. is a custom manufacturer of medium and low voltage switchgear delivering engineered-to-order solutions for industrial, utility, and infrastructure projects across North America. Their product portfolio consists of three core switchgear product lines—Metal Enclosed Switchgear (cost-effective, fixed breaker, smaller footprint for 5-25kV applications), Metal Clad Switchgear (drawout breakers, compartmentalized design, rated up to 38kV and 4000A), and Arc Resistant Switchgear (compartmentalized reinforced structure with arc exhaust plenum for personnel protection, available in 5/15/25kV). Additionally, they offer Low Voltage/UL891 Switchboards and specialized 25kV and 38kV rated products. All products are custom-engineered to project-specific requirements with ISO 9001 certified manufacturing processes.
Differentiator
Problem solved
Functional benefit
Products and services
- Metal Enclosed Switchgear
Quantifiable outcome
- Arc Resistant testing success: 25kV, 25kA Arc Resistant Switchgear certified meeting IEEE C37.20.2 and IEEE C37.20.7 standards
- +2 more outcomes
Companies that use RIC Power
Customer profileNamed customers7 records
Segments5 records
Ideal customer profiles2 records
RIC Power technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
RIC Power partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- PanelmaticcorePanelmatic selected RIC Power Corp in 2025 to advance North American Switchgear capabilities. This represents a significant strategic partnership for RIC Power to expand its market reach and capabilities across North America.
- BC HydrominorBC Hydro awarded RIC Power Corp the 3MW Ruskin Dam Project, replacing switchgear at a complex dam operation. This project demonstrates RIC Power's capability in utility-scale hydroelectric applications.
Scale indicators4 records
Recent moves7 records
Expansion highlights6 records
RIC Power competitors and assessment
Company assessmentDirect peers
- Powell Industries: Houston-based custom manufacturer of medium and low voltage switchgear and switchboards for utilities, oil & gas, and industrial customers. Closest publicly traded analog to RIC Power's engineered-to-order custom switchgear business model.
- Myers Power Products: Custom manufacturer of low and medium voltage switchgear, switchboards, and power distribution centers for utility, industrial, and data center markets. Closest direct private competitor in scale and product scope to RIC Power.
- Crown Technical Systems: Custom manufacturer of medium voltage switchgear, switchboards, and power control buildings for utility, data center, and industrial customers. Directly comparable engineered-to-order business model.
Broad incumbents
- Eaton: Global electrical equipment giant with comprehensive medium and low voltage switchgear, switchboard, and power distribution product lines. Competes against RIC Power across industrial, utility, and data center segments with significantly broader scale.
- ABB: Multinational switchgear and electrification OEM with deep medium-voltage, arc-resistant, and substation product lines. Competes head-to-head with RIC Power on industrial, utility, and infrastructure switchgear projects globally.
- Schneider Electric: Global energy management and automation company with extensive MV/LV switchgear offerings. Competitor in utility, data center, and industrial power distribution segments where RIC Power operates.
- Siemens: Diversified industrial conglomerate with major switchgear and electrical infrastructure portfolio. Competes with RIC Power in utility, oil & gas, and infrastructure markets, particularly on larger project scopes.
- GE Vernova: Spun-off GE energy business active in grid equipment, switchgear, and substations. Directly competes with RIC Power in utility and grid modernization projects across North America.
- Hubbell: Electrical components and systems manufacturer with switchgear and power distribution offerings. Overlaps with RIC Power in industrial and utility segments, particularly in North America.
Emerging players
- Park Detroit: Niche supplier of medium voltage switchgear and custom power solutions for utility and industrial markets in North America. Smaller-scale custom manufacturer with overlapping application focus to RIC Power.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
RIC Power social profiles
Digital presenceRIC Power compliance and trust
Trust signalCompliance8 records
RIC Power financial estimates
Financial estimateRevenue estimate
Valuation estimate
RIC Power leadership team
Management profileNumber of profiles
RIC Power funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
RIC Power M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about RIC Power
What does RIC Power do?
RIC Power Corp. is a custom manufacturer of medium and low voltage switchgear based in Burnaby, British Columbia, founded in 2012. The company designs and builds engineered-to-order electrical power distribution equipment — including metal enclosed, metal clad, arc resistant, and UL891 low voltage switchboards — for industrial, utility, infrastructure, data center, and oil & gas customers.
Is RIC Power a public or private company?
RIC Power is a private company. It is classified as corporate owned and is currently operating.
When was RIC Power founded?
RIC Power was founded in 2012. It employs 11 to 50 people.
Where is RIC Power based?
RIC Power is headquartered in Burnaby, Canada, in the North America region.
How does RIC Power make money?
One revenue line is on record: custom Switchgear Manufacturing.
Who are RIC Power's main competitors?
Direct peers on record are Powell Industries, Myers Power Products and Crown Technical Systems. Broad incumbents are Eaton, ABB, Schneider Electric, Siemens, GE Vernova and Hubbell. Park Detroit is listed as an emerging player.
Does RIC Power have an API?
No public API is recorded for RIC Power.
What industry is RIC Power in?
RIC Power's product category is Electrical Switchgear Manufacturing. Its primary akta.pro industry code is IMAGAAAB, Switchgear & Switchboards (HV/MV/LV, GIS/AIS), with a secondary code of IMAGAEAA, Low-Voltage Switchboards & Panelboards (LV distribution panels, MCCs, switchboards). Its NAICS code is 335313 and its SIC code is 3613.