Pioneering Power Grids
100% of the Swedish population has access to electricity, a near-necessity for modern survival. Asea AB, an industrial jewel of Sweden, was created in 1883. Asea’s business was broadly defined as “the generation and application of electric power.” The company manufactured such diverse items as steam turbines for power plants and high-speed electric locomotives for passenger railroads. In 1986, Asea extended the firm’s engineering and manufacturing operations beyond Sweden in order to gain economies of scale, both in manufacturing and in raising capital. ABB Asea Brown Boveri was the result of a merger between Asea AB of Sweden and BBC Brown Boveri Ltd. of Switzerland in 1988. The merged entity became the world’s leading supplier in the $50 billion electric power industry. It successfully integrated 850 subsidiary companies and 180,000 employees operating in 140 countries.
In 2020, Hitachi and ABB’s Power Grids business came together in a joint venture to create a new global leader in pioneering and digital technologies, Hitachi Energy. Building on ABB’s legacy in supporting the development of the U.S. grid systems, Hitachi Energy collaborates with Grid United, utility companies ,and other stakeholders, developing utility-scale electric-transmission projects that will provide long-term economic benefits to communities across the country, providing Americans with improved grid resiliency for their homes and businesses.
