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Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice.
September 21, 2020
Renowned for a rich track record of innovation that has contributed to shaping the world's power industry over the past century
Ludvika, Sweden, 21 September, 2020 - Elektriska Aktiebolaget Magnet (later acquired by ASEA) was founded in Ludvika in the year 1900 to serve mines, power plants and industries with electromechanical equipment.
120 years later, it continues to be a 'jewel in the crown' of our business. with a rich innovation legacy and an illustrious track record of pioneering technologies that changed the world such as 3-phase AC transmission, High Voltage Direct Current (HVDC), the world's most powerful transformers and eco-efficient high voltage switchgear.
"The green and digital transformations will yet again emphasize the importance of the energy system and Swedish infrastructure. Hitachi ABB Power Grids and its legacy operations in Ludvika have an illustrious place in the history of Swedish technology innovation with a strong global contribution," said Ibrahim Baylan, Sweden's Minister for Business, Industry and Innovation. "I would like to congratulate the company for this 120 years milestone and I look forward to more innovative solutions for a green and digital society."
On July 1, 2020, two highly respected companies were brought together and created Hitachi ABB Power Grids. As a new global power leader it is paramount to continue to contribute to the global energy transformation and decarbonization.
Toshikazu Nishino, Executive Vice President and Executive Officer of Hitachi Ltd. and Chairman of Hitachi ABB Power Grids said, "We will lead social innovation in power grids through collaborative creation together with customers and partners, by combining the world's most advanced grid systems with Hitachi's digital technology, leading the achievement of a sustainable society in the aspect of energy," he added.
Hitachi ABB Power Grids in Sweden has about 4,000 employees with offices in 15 locations. More than half of the employees in Sweden are based in Ludvika. All of its business units are represented in the country and there is also an extensive R&D presence. In Ludvika there are two world-class laboratories and two unique test halls for testing of electrical components for ultra high-voltage levels, bushings and HVDC valves. Today we also launch the innovative TXpert™ Ecosystem for digitalization of transformers, driving data driven intelligence in transformers and grids.
Claudio Facchin, CEO of Hitachi ABB Power Grids said, "Our pioneering technology spirit is part of our DNA and in today's green energy transition the acceleration of digitalization can enable our power grids to become more flexible and reliable". "Leveraging technology and strong collaboration across stakeholders will be key in supporting a secure and scalable grid for a sustainable energy future," Claudio added.
Hitachi ABB Power Grids is global technology leader with a combined heritage of almost 250 years, employing around 36,000 people in 90 countries. Headquartered in Switzerland, the business serves utility, industry and infrastructure customers across the value chain, and emerging areas like sustainable mobility, smart cities, energy storage and data centers. With a proven track record, global footprint and unparalleled installed base, Hitachi ABB Power Grids balances social, environmental and economic values. It is committed to powering good for a sustainable energy future, with pioneering and digital technologies, as the partner of choice for enabling a stronger, smarter and greener grid. https://www.hitachiabb-powergrids.com