Hitachi ABB Power Grids has announced that it will be evolving to become Hitachi Energy from October 2021. The decision to change the name has board and shareholder consent and coincides with the business’ first-year anniversary since it started operations on July 1, 2020. Hitachi Ltd. has an 80.1% stake in the joint venture and ABB Ltd. holds the balance.
Headquartered in Zurich, Switzerland, the global technology company has developed innovations such as long-distance commercial HVDC technology, which enables countries to efficiently transmit large amounts of power with minimum losses over thousands of kilometers while reducing carbon footprint. It has also provided microgrids and energy storage solutions that combined with intelligent control systems, ensuring reliable, distributed power availability.
Hitachi ABB Power Grids places sustainability at the heart of its purpose: "powering good for a sustainable energy 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. 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.
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. 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.”
“The energy landscape continues to evolve and so do we,” said Claudio Facchin, CEO of Hitachi ABB Power Grids. He continued, “With our new name ‘Hitachi Energy’ we are broadening our commitment to creating further value for customers, our employees and society. The past year has been demanding for everyone, but we look forward with optimism. I am proud of our talented people in 90 countries, and through our passion, authenticity and culture of diversity and inclusion, we 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.”Hitachi ABB Power Grids will change its name to Hitachi Energy from October. At the same time, it will change itscorporate brand to the Hitachi brand and use it for external and internal communications. The business formally registered Hitachi Energy Ltd. on June 30, 2021, and is now undertaking the formal process for the change of names globally.
