Abu Dhabi, UAE, Jan 21, 2014 - ABB, the global power and automation technology group, has been awarded the Zayed Future Energy Prize 2014 in recognition of its efforts to drive innovation, renewable energy and energy efficiency.
"It is a great honor to have won the Zayed Future Energy Prize 2014," said ABB Chief Executive Officer, Ulrich Spiesshofer. "ABB stands for power and productivity for a better world. This prize underlines our relentless drive for innovation to create new offerings and value propositions for our clients in the renewable energy and energy efficiency fields."
The award in the category 'Large Corporations' was presented to Spiesshofer by His Highness General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces of the United Arab Emirates at a glittering awards ceremony in Abu Dhabi, the capital city of the UAE. The Zayed Future Energy Prize was launched in 2008 to recognize and reward the very best solutions in renewable energy and sustainability. It was named in honor of the late Sheikh Zayed bin Sultan Al Nahyan, who was a founder of the UAE, ruler of Abu Dhabi, and the UAE's first president from 1971 until his death in 2004.
"This award brings with it the responsibility to spread the vision and environmental stewardship of the late Sheikh Zayed bin Sultan Al Nahyan," Spiesshofer added. "We will ensure that ABB serves as a role model to promote the prize as an incentive to spur further innovation in sustainable energy technologies around the world. Winning this prize will strengthen our belief and make us even more determined to pursue our vision, mission and strategy towards sustainable energy and towards a sustainable future."
ABB has a 125-year heritage of technology innovation.
It pioneered HVDC (high voltage direct current) technology nearly 60 years ago, enabling large volumes of power to be transmitted over thousands of kilometers, with minimal losses and environmental impact. This technology is being extensively deployed to bring power from remote renewable energy sources to major consumption centers. ABB has been awarded around 90 HVDC projects representing a total installed capacity of more than 95,000 megawatts (MW), which accounts for about half of the global installed base.
ABB is also a leader in technologies that improve energy efficiency, which is the fastest, most sustainable and cheapest way to reduce energy consumption, lower carbon dioxide (CO2) emissions and enhance energy security. ABB drives can help lower energy consumption by adjusting the speed of electric motors to match the actual demand of the application thereby reducing motor energy consumption by typically 20 to 50 percent.
In the solar industry, it is constantly striving and innovating to develop solutions that efficiently transform the sun's energy into reliable power. By converting solar energy into electrical energy, carbon dioxide (CO2) emissions can be reduced by 600 grams for each kilowatt per hour generated (kWh).
ABB is a key solutions provider to industries specializing in renewables and sustainable transport. It is the leading supplier of electrical products and solutions to the wind power industry, combining 30 years' experience, in-depth know-how, global manufacturing footprint and thorough understanding of both wind turbine applications and power systems.
ABB has a long history of providing innovative and energy-efficient technologies to the rail sector, manufacturing and servicing all components and sub-systems used in urban, intercity and high-speed networks, both for rail infrastructure and for rolling stock. With a vast global installed base, it provides life-cycle service support, including maintenance and modernization, as evidenced by a recent $200-million order to equip Sweden's high-speed trains with new electrical systems.
ABB's sustainable energy solutions also encompass fast-charging stations for electric vehicles, which are playing an increasingly large role in modern mobility.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 150,000 people.