- Hitachi Energy has completed the acquisition of COET, a leading designer and manufacturer of power supply equipment for electromobility, railways, and industry.
- The transaction strengthens Hitachi Energy’s global position and offerings in the high-power electric vehicle charging infrastructure, power electronics, and grid edge.
Both companies have been collaborating on a portfolio of solutions for high-power charging infrastructure – Grid-eMotion®. COET is also a leading designer, manufacturer, and supplier of DC traction products for railways, as well as high-power AC and DC devices for industrial applications.
“We are pleased to welcome our long-standing partner into the Hitachi Energy family,” said Niklas Persson, Managing Director of Grids and Power Systems Business at Hitachi Energy. “The acquisition will strengthen our position as a global leader in power grid technologies and energy infrastructure for electromobility, transportation, and industry. COET and its customers will benefit significantly from our global reach and expertise in energy.”
After the acquisition by Hitachi Energy, COET will continue to operate as an independent company. The current management will retain their positions, and the company’s operations will remain unchanged. COET currently employs around 80 highly skilled and specialized employees.
Hitachi Energy’s Grid-eMotion offering in high-power charging infrastructure for electric bus and truck fleets is rapidly developing. The company has already implemented projects in various countries worldwide, including Australia, Canada, Dubai, France, Germany, Italy, Sweden, Switzerland, and the United Kingdom.
An example is the project in Nantes, France, where the company implemented its flash-charging technology, Grid-eMotion Flash, for an electric bus fleet. This technology enables bus charging in just 20 seconds, ensuring reliable public transportation even during peak hours.
Another example is the project in Berlin, Germany, where Hitachi Energy provided charging infrastructure for an electric bus fleet. This infrastructure includes both on-route and depot charging, ensuring fleet operations continuity.
Hitachi Energy’s acquisition of the Italian company is another step in the realization of the company’s strategic development plan through 2030. The company aims to become a leading provider of energy solutions for a sustainable future.
The transaction was completed on December 28, 2023, following regulatory approval of the sale agreement announced in August 2023.