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In accordance with the agreement signed in December 2021, Hitachi Energy and Arteche today announced the establishment of a new joint venture (JV), under the name of Arteche Hitachi Energy Instrument Transformers S.L.
Arteche holds a 51 percent stake in the new joint venture (JV) company and Hitachi Energy owns the remaining 49 percent.
Arteche Hitachi Energy Instrument Transformers S.L. brings together the expertise of two companies which have a proven track record in technology innovation and manufacturing excellence in instrument transformers. The JV governance will take place within the framework of a new independent management board where both companies are equally represented. Products under the JV will be part of the parent companies’ product portfolio, while the promotion and sales activities will be carried out independently by both parties.
“Today’s launch of Arteche Hitachi Energy Instrument Transformers S.L. is another step forward in our purposeful journey of pioneering technologies that are accelerating the energy transition,” said Markus Heimbach, Managing Director of Hitachi Energy’s High Voltage Products business. “Together, we will build on our complementary strengths in gas-insulated instrument transformers to deliver solutions that are advancing a sustainable energy future for all,” he added.
With the establishment of the JV, Hitachi Energy expands its gas-insulated instrument transformer portfolio to address the growing gas-insulated switchgear market while strengthening value chain ownership. Arteche Hitachi Energy Instrument Transformers S.L. will also produce gas-insulated instrument transformers for air-insulated switchgear. The JV also propels the development of new eco-efficient technologies that will enhance the EconiQ™ high-voltage portfolio that eliminates sulfur hexafluoride (SF6) with scalable solutions for the lowest carbon footprint.
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.
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.
About Arteche Group
Founded in 1946, the Arteche Group carries out its activity in the electricity sector, from generation to distribution, specialising in the equipment, components and electric solutions industry. Within this framework, the Arteche Group ranks among the TOP 3 world leaders in the instrument transformers market, leads the auxiliary relays market and maintains a regional leadership position for the remaining products specifically intended for highly-demanding and high added value markets, such as renewable generation and railway. The Arteche Group’s business focusses on enabling the transport and distribution of electric energy from any generation plant to the final user with efficiency, quality and reliability. For this purpose, the company consistently invests in R&D&I, with the aim to improve the quality and efficiency of its products, innovate in the development of new products and provide its customers with a differential added value. Arteche currently has commercial distribution capacity in over 175 countries; it has 13 factories in Europe, America and Asia, including 6 research centres, and over 2,400 employees around the world.