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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.
August 17, 2021
Purposeful innovations that are helping to accelerate the journey towards carbon-neutral society - 'Powering Good for Sustainable Energy'
Image of the CIGRE Virtual Centennial Session (Source: CIGRE)
Tokyo, Japan and Zurich, Switzerland, August 17, 2021 --- Hitachi, Ltd. (TSE:6501 "Hitachi") and Hitachi ABB Power Grids are delighted to be contributing to the CIGRE*1 Virtual Centennial Session. The week-long event, which takes place between 18 and 27 August, 2021, will be a unique immersive digital experience that will be broadcast from the Palais des Congrès de Paris in France.
CIGRE, which is held every two years in Paris, is the world's largest*2 power system conference and exhibition. It was founded in 1921 in Paris with the aim of encouraging technical exchange among engineers from around the world and jointly developing and sharing the power system expertise.
Closely connected with its shared ambition of 'Powering Good', Hitachi and Hitachi ABB Power Grids will showcase pioneering technologies, which are contributing towards a sustainable energy system - making it more efficient, resilient, secure and safe. During the CIGRE Virtual Centennial Session, the global technology leader will be launching exciting roadmap developments.
Key developments being announced are in the areas of EconiQ™ - its eco-efficient portfolio which contributes towards the vision of carbon-neutral society; and SVC Light® Enhanced technology - a new game-changing grid stabilization solution, which enables the smooth integration of large-scale renewable energy into the world's grids and the growth of emission-free electrification, from sustainable mobility to data centers. The business will also be spotlighting developments in Lumada asset and work management - digital solutions that help to improve resilience and stability, whilst reducing maintenance costs and enabling customers to achieve their carbon-neutral goals.
In this Centennial CIGRE Session, Hitachi and Hitachi ABB Power Grids will work together under a common theme to promote world-leading energy solutions and advanced digital technologies that are helping to accelerate the energy transition and journey towards carbon-neutral society. Hitachi ABB Power Grids has so far delivered 25 contributions to the Group Discussion Meetings and will be co-moderating three sessions on the topics of HVDC, Active Distribution Grids and Distributed Energy Resources, and Women in Energy; and delivering a number of workshops and tutorials.
Both Hitachi and Hitachi ABB Power Grids bring a philosophy of collaboration and co-creation with customers and partners, and have been at the forefront of technological innovation for more than one century. In February, Hitachi announced 'Hitachi Carbon Neutrality 2030,' a plan to achieve carbon neutrality at its business sites (factories and offices) by FY2030, and also decided to aim for an 80% reduction in CO2 emissions across the entire value chain by FY2050. And in June, Hitachi ABB Power Grids launched Sustainability 2030 - its strategic plan for sustainability, which draws from the UN's Sustainable Development Goals and is focused on: Planet, People, Peace and Partnerships.
In addition to clean power generation systems such as renewable energy and nuclear power, Hitachi is strengthening its power grids business, which supports social infrastructure, as one of its core businesses, and established Hitachi ABB Power Grids on July 1, 2020. Coinciding with its one year anniversary on July 1, 2021, Hitachi ABB Power Grids announced that it will be evolving to become Hitachi Energy - broadening its commitment to 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.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is focused on its Social Innovation Business that combines information technology (IT), operational technology (OT) and products. The company's consolidated revenues for fiscal year 2020 (ended March 31, 2021) totaled 8,729.1 billion yen ($78.6 billion), with 871 consolidated subsidiaries and approximately 350,000 employees worldwide. Hitachi is working to increase social, environmental and economic value for its customers across six domains; IT, Energy, Industry, Mobility, Smart Life and Automotive Systems through Lumada, Hitachi's advanced digital solutions, services, and technologies for turning data into insights to drive digital innovation. For more information on Hitachi, please visit the company's website at https://www.hitachi.com.
Hitachi ABB Power Grids is a 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.
From October 2021 we are evolving to become Hitachi Energy.