Coinciding with its first-year anniversary, the global technology and market leader announces that it will be changing its name and corporate brand from October 2021.
July 03, 2021
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 1 July 2020. Hitachi Ltd. has an 80.1 percent stake in the joint venture and ABB Ltd. holds the balance.
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. These range from pioneering innovations such as long distance commercial HVDC1 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 state-of-the-art intelligent control systems, ensure reliable distributed power availability.
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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, “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.”
Keiji Kojima, President and COO of Hitachi, said, “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.”
“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.”
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Hitachi ABB Power Grids will change its name to Hitachi Energy from October. At the same time, the company will change its corporate brand to the Hitachi brand and use it for external and internal communications. The business formally registered Hitachi Energy Ltd. on 30 June 2021 and is now undertaking the formal process for the change of names globally.
