Keystone

What Keystone does

Keystone EMC manufactures electrical power protection and control equipment for the power generation, transmission, and distribution markets. Founded in 1964 and headquartered in Des Moines, Iowa, the company operates as a subsidiary brand under Hubbell's Systems Control division (Hubbell Inc., NYSE: HUBA) and employs 101-250 people. Keystone serves electric utilities as its primary segment, with additional exposure to renewable energy developers, oil/gas/petrochemical operators, and telecommunications companies. The company differentiates through a vertically integrated Des Moines facility that consolidates sheet metal fabrication, assembly, wiring, and testing under one roof, with quality testing performed per IEEE/ANSI standards using equipment such as the Doble F6150e test set and Peschel 100KV Hi Pot.

Keystone's product portfolio spans Protection & Control Panels (line, distribution, transformer protection, annunciator, SCADA/RTU, metering, and communication), Turnkey Substation Control Centers delivered as pre-assembled buildings from 20'x14' to 60'x30', Power Distribution Centers from 5kV to 35kV, Medium Voltage Switchgear from 2400V to 38kV, and Low Voltage Control Panels for renewable energy applications built to NEC and UL 508A standards. The company has shifted from in-house switchgear fabrication to sourcing components from leading industry OEMs and focusing on custom assembly, wiring, and testing. Engineering support services, including single-point project management and detailed as-built documentation, are bundled with product delivery.

Keystone operates a project-based B2B model with one-time equipment sales, where each contract is assigned a dedicated project manager supporting the customer from initial design through final delivery. Pricing is custom and not publicly disclosed; contracts are won through direct enterprise field sales engagement. Distribution is domestic within the United States, with customer reach amplified through the Hubbell brand ecosystem and Systems Control division channels. No AI/ML, software, or recurring-revenue product lines are present in the offering.

Name

Keystone

Legal name

Keystone EMC

Website

https://keystoneemc.com

Company type

Private

Founded year

1964

Operating status

Operating

Headcount range

101–250 employees

Short description

Keystone EMC, a Hubbell subsidiary founded in 1964 in Des Moines, Iowa, manufactures custom electrical power protection and control equipment for electric utilities, renewable energy, oil/gas/petrochemical, and telecommunications customers through a vertically integrated facility.

Ownership category

akta.pro rank

Product category

Power Protection & Control Equipment Manufacturing

NAICS

Switchgear and Switchboard Apparatus Manufacturing (335313), Power, Distribution, and Specialty Transformer Manufacturing (335311)

SIC

Switchgear & Switchboard Apparatus (3613), Power, Distribution & Specialty Transformers (3612)

akta.pro primary industry

High-Voltage Electrical Systems (Switchgear, Transformers, Protection & Control) (EUAEAFAA)

akta.pro secondary industries

Low-Voltage Switchboards & Panelboards (LV distribution panels, MCCs, switchboards) (IMAGAEAA), Industrial Control Cabinets & Power Distribution (Panels, Switchgear for Automation) (IMAHAHAK), Power Transformers, Reactors & Auxiliary Power Systems (EUADACAJ), Medium/Low-Voltage Power Distribution (MCCs, Panels, UPS, Grounding) (EUAEAFAB)

Keywords

• Power protection equipment
• Control panel manufacturing
• Substation control centers
• Medium voltage switchgear
• Power distribution equipment

Headquarters

HQ city

Des Moines

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D

Revenue model

1. Custom Power Equipment Manufacturing: Keystone generates revenue through the custom manufacture of electrical power protection and control equipment. Revenue is project-based, derived from manufacturing protection and control panels, substation control centers, power distribution centers, medium voltage switchgear, and low voltage control panels to customer specifications. The company also provides engineering support services as part of the manufacturing process.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Keystone custom-manufactures electrical power protection and control equipment for the generation, transmission, and distribution markets. Its core offerings include protection and control panels, turnkey substation control centers, power distribution centers (5kV–35kV), medium voltage switchgear (2400V–38kV), and low voltage control panels, all produced to customer specifications within a vertically integrated in-house facility.

Product overview

Keystone is a manufacturer of electrical power protection and control equipment, offering a portfolio of products for the electrical generation, transmission, and distribution markets. The product portfolio consists of Protection & Control Panels (line, distribution, transformer protection, bus differential, annunciator, feeder, metering, communication, and SCADA/RTU panels), Turnkey Substation Control Centers (pre-assembled buildings from 20'x14' to 60'x30'), Power Distribution Centers (5kV to 35kV), Medium Voltage Switchgear (2400V to 38kV), and Low Voltage Control Panels (for renewable energy and industrial applications). These products are complemented by Engineering Support Services including project management and detailed documentation. The company operates a vertically integrated facility handling sheet metal fabrication, assembly, wiring, and testing.

Differentiator

Problem solved

Functional benefit

Products and services

• Protection & Control Panels Custom-fabricated indoor and outdoor enclosures and panels for line, distribution, transformer protection, bus differential, annunciator, feeder, metering, communication, and SCADA/RTU applications, built to industry standards and customer specifications for utilities and industrial customers.
• Turnkey Substation Control Centers Fully assembled substation control centers built to customer specifications, ranging from small 20'x14' buildings to doublewide 60'x30' buildings, with AC/DC panelboards, battery systems, RTUs, SCADA cabinets, and inter-panel wiring pre-installed for cost savings over field assembly methods.
• Power Distribution Centers Fully assembled power distribution centers rated from 5kV to 35kV, containing customized metal clad switchgear, AC/DC power distribution, battery systems, protection and control equipment, communication systems, RTUs, custom control devices, and field termination cabinets built and tested to customer specifications.
• Medium Voltage Switchgear Metal clad switchgear manufacturing from 2400V to 38kV, custom assembled, wired, and tested to customer specifications using building, switchgear, breakers, and control components sourced from leading industry manufacturers.
• Low Voltage Control Panels Low voltage electrical control panels for renewable energy generation systems and industrial applications, designed and manufactured to meet NEC and UL 508A requirements, including motor control panels, PLC control panels, VFD and reduced voltage starters, RTUs, and SCADA cabinets, available as off-the-shelf or custom fabricated enclosures.
• Engineering Support Services Design and project management services for power protection and control equipment manufacturing, including single point project management, detailed construction and maintenance documentation, component part number selection, and as-built documentation delivered to customer specifications.

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• HubbellcoreOthersKeystone EMC is a subsidiary brand of Hubbell, operating as 'A Hubbell Company'. Hubbell is a parent company providing corporate structure and brand backing for Keystone's operations in the electrical power equipment manufacturing sector.

Scale indicators2 records

Recent moves3 records

Expansion highlights4 records

Direct peers

• ABB: ABB is a leading global supplier of switchgear, substation equipment, and protection & control systems for utility transmission and distribution networks. Its products and solutions directly compete with Keystone's medium-voltage switchgear and turnkey substation offerings.
• Schneider Electric: Schneider Electric provides switchgear, substation automation, and power distribution products to utilities and industrial users worldwide. Its medium-voltage switchgear and protection/control portfolio competes head-to-head with Keystone's custom-manufactured substations and panels.
• Siemens: Siemens manufactures medium-voltage switchgear, protection relays, and substation automation systems serving utilities and industrial customers. Its broad portfolio directly overlaps Keystone's switchgear and substation control center business.
• Eaton: Eaton is a major global manufacturer of switchgear, power distribution equipment, and substation solutions for utilities and industrial customers. It directly overlaps with Keystone's protection & control panels, medium-voltage switchgear, and power distribution center offerings across similar customer segments.
• S&C Electric Company: S&C Electric specializes in switches, switchgear, and power grid automation products for electric utilities. It is a direct competitor in custom switchgear and protection equipment for distribution and substation applications.
• Powell Industries: Powell Industries designs and manufactures custom-engineered electrical houses (E-Houses), power distribution centers, and medium-voltage switchgear for utilities and industrial markets. It is a closely comparable mid-market peer to Keystone in scope and customer base.
• G&W Electric: G&W Electric manufactures switchgear, reclosers, and substation equipment serving electric utilities, renewable energy, and industrial customers. It is highly comparable to Keystone in targeting utility protection/control and distribution projects.
• Myers Power Products: Myers Power Products designs and manufactures low- and medium-voltage switchgear, power distribution centers, and electrical houses for utility, industrial, and commercial customers. It is a like-sized custom manufacturer directly comparable to Keystone.

Broad incumbents

• GE Vernova: GE Vernova is a large incumbent provider of grid equipment, switchgear, and substation solutions for utilities globally. As a broader player with a wide product portfolio, it competes with Keystone on medium-voltage switchgear and turnkey substation projects.

Others

• Hubbell Power Systems: Hubbell Power Systems is a sister division under Hubbell that supplies utility-grade transmission and distribution products. While not a direct competitor, it shares the same parent ecosystem and customer relationships, making it an adjacent comparable for understanding Hubbell's T&D strategy.

Market position

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Keystone