Name change designed to expand beyond the grid into mobility and smart solutions
Hitachi ABB Power Grids has officially changed its name to Hitachi Energy and unveiled a new strategic direction designed to expand from the grid into wider decarbonisation solutions.
The business, in which Hitachi holds an 80.1% stake and ABB the rest, is changing its name everywhere except China, which is expected to follow suit at a later date.
“We are championing the urgency of a clean energy transition through innovation and collaboration,” said Hitachi Energy chief executive Claudio Facchin from the company’s global headquarters in Zurich, Switzerland.
“By 2050, global electrification will near‐double in demand and electricity will be the backbone of the entire energy system. At Hitachi Energy, we have pioneered many of the technologies needed for advancing a sustainable energy future for all – and we are committed to continue pushing the boundaries of innovation.
“With our new name, we are broadening our commitment to creating real impact for our customers and partners, our people and society.”
The foundations of the business will continue to be HVDC interconnectors plus grid edge solutions such as microgrids and energy storage.
Hitachi Energy has drawn up what it calls its Sustainability 2030 strategic plan and has set targets to become carbon-neutral in its own operations.
The company – which employs 38,000 people in 90 countries – believes the name change “enables the business to effectively position its pioneering technologies and services to existing and future customers expanding beyond the grid, opening up a breadth of opportunities in areas such as sustainable mobility and smart life”.