![]() ![]() ![]() The past year has been demanding for everyone, but we look forward with optimism. He continued, “With our new name ‘Hitachi Energy’ we are broadening our commitment to creating further value for customers, our employees and society. “The energy landscape continues to evolve and so do we,” said Claudio Facchin, CEO of Hitachi ABB Power Grids. Hitachi will combine digital technologies such as Lumada with Hitachi Energy’s advanced energy technologies to provide innovative energy solutions that create social, environmental and economic values.” Keiji Kojima, President and COO of Hitachi, said, “To realize a sustainable society, the use of digital technology is becoming indispensable in all fields.” He continued, “In the energy field, power grids are expected to be at the core of innovation since they have high affinity with digital technology, and I am confident that Hitachi Energy will lead this innovation. Hitachi and Hitachi Energy will contribute to solve social issues and improve people’s QoL by realizing social innovation in the energy field with customers and partners.” Toshiaki Higashihara, Executive Chairman and CEO of Hitachi, said, “With climate change and increasing natural disasters, there is a need to solve three social issues worldwide: environment, resilience, and security and safety.” He continued, “Hitachi ABB Power Grids provides a variety of solutions that solve these social issues, and by changing the company name to Hitachi Energy, we are further strengthening our commitment to the realization of a sustainable society. By combining advanced digital solutions and services, such as Hitachi Lumada, with an energy platform that is built on unique domain expertise and experience, the business is serving customers and partners co-creating global solutions to solve the global challenge of an inclusive and equitable carbon-neutral future. The transition to the Hitachi Energy name reflects the rapidly evolving energy landscape and the opportunity to create economic, environmental and social value and with Hitachi enabling the business to position its pioneering and digital technologies to serve existing and future customers, going beyond the grid – opening up a breadth of opportunities in areas like sustainable mobility, smart life, and data centers. Hitachi ABB Power Grids places sustainability at the heart of its purpose: powering good for a sustainable energy future. The business has played a leading role enabling a stronger, smarter and greener global energy system. ![]() These range from pioneering innovations such as long distance commercial HVDC technology, that enables countries to efficiently transmit large amounts of power with minimum losses over thousands of kilometers while reducing carbon footprint, to providing microgrids and energy storage solutions that combined with intelligent control systems, ensure reliable distributed power availability. ![]() Headquartered in Zurich, Switzerland, the global technology and market leader brings a rich heritage of pioneering breakthroughs, which have helped to increase access to safe, secure, and reliable electricity for more than one century. has an 80.1% stake in the joint venture and ABB Ltd. The decision to change its name has board and shareholder consent and coincides with the company’s first-year anniversary since it started operations on July 1, 2020. It had five manufacturing plants in the US and one in China at the time of the sale.Hitachi ABB Power Grids today announced that it will be evolving to become Hitachi Energy beginning in October 2021. The company offers a range of mechanical power transmission products for the surface mining, aggregates and cement, warehousing and food and beverage industries. In November last year, ABB completed the sale of Dodge, its mechanical power transmission division, to RBC Bearings for a $2.9bn cash consideration.ĭodge manufactures power transmission components, mounted bearings and enclosed gearings. The company said it does not expect to record any significant gains or losses as a result of the sale.īased in Zürich, ABB offers electrification, robotics, automation and motion solutions that aim to achieve a more productive and sustainable future. Once it has closed, ABB expects net positive cash inflows of nearly $1.425bn. The deal is expected to close in the fourth quarter of this year subject to receiving regulatory approvals. ABB has also agreed to provide transition services to Hitachi Energy to help them fully separate from ABB’s systems. ![]()
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