Award acknowledges the importance of investment in emerging clean technologies
Zurich, Switzerland - May 21, 2014 - ABB, the leading power and automation group, announced today its electrical vehicle (EV) charging infrastructure business was named by Cleantech Group (CTG), developer of the i3 market intelligence platform, as one of CTG's five picks as a European Cleantech Company of the Decade.
ABB's EV technology has been successfully deployed already in Europe, North America, Africa, and Asia, where it's creating the infrastructure necessary to support growing demand for emissions-free vehicles around the world.
"ABB stands for power and productivity for a better world. Technology innovation is part of the fabric of ABB, and we are especially honored to receive this recognition," said Ulrich Spiesshofer, CEO of ABB. "The growing need for sustainable transportation will continue pushing technology frontiers, this is a fundamental part of the innovation process. This is why such clean tech investments are an integral part of ABB's growth strategy, allowing us to expand into attractive markets such as e-mobility and solar."
This one-off award was made in connection with the 10th anniversary Cleantech Forum Europe, held in Stockholm this year. The award was made in Stockholm's City Hall, the venue of the annual Nobel Prize ceremony.
"The ABB and Epyon case was picked to represent the copy-book venture story," explained Richard Youngman, Managing Director Europe & Asia, CTG. "The company was a university spin-out in 2006, raised a couple of venture rounds in 2008 and 2010, and was sold to a major multi-national corporation, namely ABB, in 2011. The company is still thriving as a product group, with the same team, leveraging ABB's international presence to take its fast-charging technology to the future markets of EV-China, for example."
In July 2011, ABB announced it had acquired Epyon B.V., an early leader in EV-charging infrastructure solutions that focused on DC fast charging stations and charging network software. Epyon was founded in 2005, headquartered in the Netherlands and had around 50 staff worldwide at the time of the transaction.
Today, the Epyon portfolio is part of ABB's Discrete Automation and Motion division and includes a range of EV solutions for all charging standards, remote and connectivity services for network providers and a variety of installation, training and maintenance services.
In February 2014, ABB announced a strategic collaboration with Shenzhen BYD Daimler New Technology Co., Ltd. to supply direct current fast chargers over the next six years for DENZA, helping China to become the global leader for EV fast charging.
The Cleantech Companies of the Decade awards are part of a celebration of the 10-year anniversary of the European Cleantech Forum, an annual collaborative gathering of the clean technology innovation community including entrepreneurs, corporations, investors and government leaders.
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.
Cleantech Group (www.cleantech.com) helps clients accelerate sustainable innovation. The company's i3 market intelligence platform, which tracks over $7 billion of deal flow annually across 23,000+ cleantech companies, allows subscribers to find, vet, and connect with entrepreneurs-efficiently building an innovation pipeline. Cleantech Forums bring the i3 platform to life by convening thought leaders and innovators around diverse themes in innovation. CTG's Advisory Services leverage expertise in designing and executing corporate strategies for sustainable growth and innovation sourcing.