Buh-Bye Fossil Fuels: Hitachi Energy Pledges $4.5 Billion To Juice The Electrification Movement

Fossil energy stakeholders are facing a fresh wall of doom as well-heeled legacy engineering firms jump into the electrification field, wielding vast reserves of investment dollars, experience, and industry connections. The latest to join the club is Hitachi Energy, with a newly announced 3-year, $4.5 billion pledge to accelerate transmission infrastructure and other essential elements of the net zero economy of the future.The new $4.

“Technology is not the bottleneck,” he emphasized. “New business models, harmonization of designs, along with partnerships are key drivers for the increase in the pace of change.” “By making Hitachi Energy a wholly owned subsidiary, Hitachi intends to further accelerate synergies and innovation through the fusion of the two companies as the global power market undergoes an unprecedented period of change

In a press statement announcing the Stockton pilot project, Hicham Abdessamad, the Chairman and CEO of Hitachi America, Ltd., issued a warning to anyone still convinced that electric truck fleets will never be a thing. Aside from adding more renewables to the grid, various solutions are beginning to emerge. The startup FreeWire, for example, is pitchingHitachi Energy is already on top of the green hydrogen angle. On June 6, the company announced that it has hooked up with a US Department of Energy initiative titled “and Beyond.” Along with the firms GTI Energy and Frontier Energy, the project is centered at the JJ Pickle Research Center at the University of Texas-Austin.

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