Hitachi Energy and Equinor sign a strategic collaboration agreement to accelerate the energy transition
The agreement extends across Hitachi Energy’s complete portfolio of power grid solutions for a sustainable low-carbon energy system
Zurich, Switzerland, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Hitachi Energy, a global technology leader that is advancing a sustainable energy future for all, today announced it has signed a strategic collaboration agreement with Equinor, one of the world’s largest energy companies, to collaborate within electrification, renewable power generation and low-carbon initiatives worldwide.
The agreement underlines both companies’ commitment to accelerate the energy transition and advance a more sustainable, flexible and secure energy system. It builds on the two companies’ long and successful collaboration over many decades. During that time, Hitachi Energy has provided Equinor with power grid solutions and pioneering technologies on several projects, such as Dogger Bank A, B and C, the world’s largest offshore wind farm on completion, and Troll A, the world's first HVDC power-from-shore connection.
Initial areas of focus for the collaboration include developing standardized base designs to be applied for high-voltage direct current (DC) and alternating current (AC) transmission systems to connect offshore wind farms and Equinor production facilities to mainland power grids.
“We are delighted to deepen our longstanding relationship with one of the world’s leading energy companies and to help Equinor achieve its ambition of becoming net zero by mid-century,” said Niklas Persson, Managing Director of Hitachi Energy’s Grid Integration business. “Together we make a strong team that will support the society to reach the goal of the Paris Agreement and create a sustainable energy future for all.”
“Hitachi Energy has been a reliable supplier to Equinor for many years. This strategic collaboration agreement is a signal of joint ambitions to increase our competitiveness in the ongoing energy transition. Standardization of technical solutions will be a key to succeed, and we look forward to improving together with Hitachi Energy,” said Geir Tungesvik, Executive Vice President for Projects, Drilling and Procurement at Equinor.
The scope of the agreement covers the complete spectrum of Hitachi Energy’s portfolio of power grid technologies and solutions. It includes IdentiQTM, Hitachi Energy’s digital twin for high-voltage direct current (HVDC) and power quality solutions, which provides significant benefits throughout the assets’ plan, build, operate and maintain life cycle; Grid-eXpandTM modular and prefabricated offshore and onshore grid connections that make it faster, simpler and more efficient to connect facilities to the grid; OceaniQTM solutions such as transformers and high-voltage products that can operate flawlessly on land, offshore and below the sea surface; and grid automation solutions that keep onshore and offshore electrical assets operating reliably, safely and securely.
- End -
About Hitachi Energy Ltd.
Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world’s energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 40,000 people in 90 countries and generate business volumes of approximately $10 billion USD.
About Hitachi, Ltd.
Hitachi drives Social Innovation Business, creating a sustainable society with data and technology. We will solve customers' and society's challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products, under the business structure of Digital Systems & Services, Green Energy & Mobility, Connective Industries and Automotive Systems. Driven by green, digital, and innovation, we aim for growth through collaboration with our customers. The company’s consolidated revenues for fiscal year 2021 (ended March 31, 2022) totaled 10,264.6 billion yen ($84,136 million USD), with 853 consolidated subsidiaries and approximately 370,000 employees worldwide. For more information on Hitachi, please visit the company's website at https://www.hitachi.com.
- Hitachi Energy and Equinor sign a strategic collaboration agreement to accelerate the energy transition
To view this piece of content from ml.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Report of transactions of shares and related securities of Bavarian Nordic by persons holding managerial responsibilities and/or persons/companies closely associated with such8.12.2022 21:40:00 CET | Press release
COPENHAGEN, Denmark, December 8, 2022 – Bavarian Nordic A/S (OMX: BAVA) has today received information about the following transactions of the company’s shares/related securities by persons holding managerial responsibilities and/or persons/companies closely associated with such. 1.Details of the person discharging managerial responsibilities/person closely associateda)NamePaul Chaplin2.Reason for the notificationa)Position/status President and Chief Executive Officer of Bavarian Nordic A/S b)Initial notification/AmendmentInitial notification3.Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitora)NameBavarian Nordic A/Sb)LEI2138006JCDVYIN6INP514.Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducteda)Description of the financial instrument, type of instrument Identification codeWarrants DK0015
Indberetning af ledende medarbejdere og disses nærtståendes transaktioner med Bavarian Nordic aktier og tilknyttede værdipapirer8.12.2022 21:40:00 CET | pressemeddelelse
KØBENHAVN, Danmark, 8. december 2022 – Bavarian Nordic A/S (OMX: BAVA) har dags dato modtaget oplysninger om følgende transaktioner med selskabets aktie/tilknyttede værdipapirer, foretaget af ledende medarbejdere og/eller personer/firmaer der er nærtstående til disse. 1.Nærmere oplysninger om personen med ledelsesansvar/personen med nær tilknytning til dennea)NavnPaul Chaplin2.Årsag til indberetningena)Stilling/titelAdministrerende direktør i Bavarian Nordic A/Sb)Første indberetning/ændringFørste indberetning3.Nærmere oplysninger om udstederen, deltageren på markedet for emissionskvoter, auktionsplatformen, auktionsholderen eller den auktionstilsynsførendea)NavnBavarian Nordic A/Sb)LEI-kode2138006JCDVYIN6INP514.Nærmere oplysninger om transaktionen/transaktionerne: gentages for i) hver type instrument, ii) hver type transaktion, iii) hver dato og iv) hvert sted, hvor der er udført transaktionera)Beskrivelse af det finansielle instrument, instrumenttypen IdentifikationskodeTegningsoption
Bavarian Nordic iværksætter nyt incitamentsprogram for koncernledelsen og udvalgte medarbejdere8.12.2022 21:35:00 CET | pressemeddelelse
KØBENHAVN, Danmark, 8. december 2022 – Bavarian Nordic A/S (OMX: BAVA) meddelte i dag, at bestyrelsen har besluttet at udstede tegningsoptioner til koncernledelsen og udvalgte medarbejdere i Bavarian Nordic koncernen. Som et nyt initiativ vil erhvervelsen (vesting) af tegningsoptioner for medlemmer af koncernledelsen være baseret på succesfuld opnåelse af relevante Key Performance Indicators (KPI’er). Beslutningen er truffet i henhold til generalforsamlingens bemyndigelser til bestyrelsen, jf. vedtægternes § 5b og 5c, og i overensstemmelse med selskabets vederlagspolitik. Der tildeles i alt 248.787 tegningsoptioner til medlemmer af koncernledelsen til en udnyttelseskurs på DKK 224,70 pr. aktie, svarende til markedskursen for Bavarian Nordics aktie på tildelingstidspunktet. Erhvervelse af tegningsoptionerne er betinget af forudgående opfyldelse af KPI’er, som fastsættes af bestyrelsen. Der tildeles i alt 683.264 tegningsoptioner til udvalgte medarbejdere i Bavarian Nordic koncernen til
New Incentive Program Established for Members of Executive Management and Selected Employees in Bavarian Nordic8.12.2022 21:35:00 CET | Press release
COPENHAGEN, Denmark, December 8, 2022 – Bavarian Nordic A/S (OMX: BAVA) announced today that the Board of Directors has decided to issue warrants to members of the Executive Management and selected employees in the Bavarian Nordic Group. As a new initiative, vesting of the warrants for members of the Executive Management will be based on successful achievement of relevant Key Performance Indicators (KPI's). The decision is made in accordance with the shareholder authorizations for the Board of Directors adopted as Articles 5b and 5c of the Articles of Association and the Remuneration Policy. A total of 248,787 warrants is granted to members of Executive Management with a subscription price of DKK 224.70 per share equivalent to the market price of Bavarian Nordic's shares at the time of grant. Vesting of the warrants is subject to prior fulfilment of KPI's as determined by the Board of Directors. A total of 683,264 warrants is granted to selected employees in the Bavarian Nordic Group w
DNO Initiates Share Buyback Program8.12.2022 20:47:01 CET | Press release
Oslo, 8 December 2022 – DNO ASA, the Norwegian oil and gas operator (the "Company"), today announced the initiation of a share buyback program (the "Program") through which the Company will repurchase up to 53,107,326 shares, representing approximately five percent of total shares outstanding, for a maximum total consideration of USD 80 million. The Program will be conducted in accordance with article 5 of the Market Abuse Regulation (EU) No 596/2014, as adopted in the Norwegian Securities Trading Act of 2007, ancillary regulations and the Oslo Stock Exchange's Guidelines for buyback programmes and price stabilisation of February 2021. Buyback transactions will be executed at market prices on the Oslo Stock Exchange. The Program will be managed by Arctic Securities AS, which will make its trading decisions in relation to the Program independently of the Company; this may result in DNO acquiring shares through periods where the Company otherwise would have been restricted from doing so.