Hitachi ABB Power Grids is becoming Hitachi Energy, demonstrating the company’s commitment to a sustainable energy future. On the occasion of its first anniversary, the worldwide technology and market leader announced that, beginning in October 2021, it will change its name and corporate logo.

(via JCN Newswire) – ZURICH, SWITZERLAND, July 2, 2021 – Hitachi ABB Power Grids said today that company would change its name to Hitachi Energy in October 2021. The decision to change the company’s name was made with the approval of the board of directors and shareholders, and it comes on the first anniversary of the company’s operations, which began on July 1, 2020. Hitachi Ltd. owns 80.1 percent of the joint venture, while ABB Ltd. owns the rest.

The global technology and market leader, headquartered in Zurich, Switzerland, has a long history of pioneering achievements that have helped to expand access to safe, secure, and reliable energy for more than a century. These range from ground-breaking innovations like long-distance commercial HVDC(1) technology, which allows countries to efficiently transmit large amounts of power with minimal losses over thousands of kilometers while reducing carbon emissions, to microgrids and energy storage solutions that, when combined with cutting-edge intelligent control systems, ensure reliable distributed power availability. The company has played a key role in allowing a more resilient, intelligent, and environmentally friendly global energy system.

Combating climate change is now a top priority and one of the most pressing issues of our day. ‘The path to net zero emissions is short,’ according to the IEA’s ‘Net Zero by 2050’ report(2), and keeping on it will necessitate substantial infrastructure investment, particularly a ‘rapid and enormous deployment of all available clean and efficient energy technologies.’ The global economy is anticipated to be 40% larger by 2030, but it will consume 7% less energy, putting it on track to reach net zero by 2050. ‘The energy sector will be controlled by renewables by this time,’ and ‘electricity will account for about half of total global energy consumption,’ up from around 20% today (2). At the heart of this global problem is an equitable and sustainable energy transition, with electricity serving as the backbone of the whole energy system.

Sustainability is at the heart of Hitachi ABB Power Grids’ mission: powering good for a sustainable energy future. The change to Hitachi Energy reflects the rapidly changing energy landscape and the opportunity to create economic, environmental, and social value; and Hitachi enables the company to position its pioneering and digital technologies to serve current and future customers, going beyond the grid – opening up a wide range of opportunities in areas such as sustainable mobility and smart life. The company is serving customers and partners by co-creating global solutions to solve the global challenge of an inclusive and equitable carbon-neutral future by combining advanced digital solutions and services, such as Hitachi Lumada, with an energy platform built on unique domain expertise and experience.

“With climate change and increasing natural disasters, there is a need to solve three social challenges worldwide: environment, resilience, and security and safety,” stated Toshiaki Higashihara, Executive Chairman and CEO of Hitachi. He went on to say, “Hitachi ABB Power Grids offers a number of solutions to address these social concerns, and by renaming the company Hitachi Energy, we are reaffirming our commitment to achieving a sustainable society. Hitachi and Hitachi Energy will work with customers and partners to tackle social challenges and improve people’s quality of life by implementing social innovation in the energy field.”

“To build a sustainable society, the use of digital technology is becoming vital in many industries,” Hitachi President and COO Keiji Kojima said. He went on to say, “Power grids are projected to be at the forefront of energy innovation due to their high affinity for digital technology, and I am convinced that Hitachi Energy will be at the forefront of this innovation. Hitachi will mix digital technologies like Lumada with superior energy technology from Hitachi Energy to produce creative energy solutions that add social, environmental, and economic value.”

Claudio Facchin, CEO of Hitachi ABB Power Grids, remarked, “The energy landscape continues to adapt, and so do we.” He went on to say, “With our new brand, ‘Hitachi Energy,’ we are committing to delivering even more value to our customers, workers, and society. Everyone has had a challenging year, but we are optimistic about the future. I am proud of our talented people in 90 countries, and we will continue on our journey – Powering good for a sustainable energy future, pioneering and digital technologies, as the partner of choice for enabling a stronger, smarter, and greener energy system – through our passion, authenticity, and culture of diversity and inclusion.”

From October, Hitachi ABB Power Grids will be known as Hitachi Energy. We will also rename our corporate brand to Hitachi and use it for both external and internal communications. On June 30, 2021, the company formally registered Hitachi Energy Ltd. and is now undergoing the formal process of changing its name globally.

(1) Commercial HVDC technology was invented by Hitachi ABB Power Grids approximately seven decades ago, allowing electricity to be efficiently transferred over thousands of kilometers with little energy losses.
(2) The ‘Net Zero by 2050 Report: A Roadmap for the Global Energy Sector’ by the International Energy Agency.

LEAVE A REPLY

Please enter your comment!
Please enter your name here