Mubasher: Hitachi ABB Power Grids will change its name to Hitachi Energy from October 2021, coinciding with its first-year anniversary since it started operations on 1 July 2020, according to a recent statement.
The Zurich-based technology giant is 80.1% owned by Hitachi Ltd. and the remaining stake is owned by ABB Ltd.
“The transition to the Hitachi Energy name reflects the rapidly evolving energy landscape and the opportunity to create economic, environmental, and social value,” the statement showed.
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.”
“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 realisation of a sustainable society,” Higashihara pointed out.
These solutions include the long-distance commercial HVDC technology which enables countries to transmit large amounts of power with minimum losses over thousands of kilometres while reducing carbon footprint.