Hitachi Energy completes acquisition of COET
Hitachi Energy has completed the acquisition of COET, a designer and manufacturer of power equipment for electric mobility, rail, and industry.
Image source: Hitachi Energy
Switzerland, Zürich: Hitachi Energy has completed the acquisition of COET, a designer and manufacturer of power equipment for electric mobility, rail, and industry.
COET is based in the greater Milan area, Italy. The two companies have a long-standing collaboration focused on Hitachi Energy’s portfolio of Grid-eMotion® high-power charging infrastructure solutions. COET is also a designer, manufacturer, and supplier of DC traction products and components for rail and AC and DC equipment for high-power industrial applications. COET, with about 80 highly skilled and specialized employees, will operate as a standalone business under the leadership of its existing management and retain its operations.
Hitachi Energy’s Grid-eMotion offering of high-power charging infrastructure for electric bus and truck fleets has been deployed in sustainable transport projects for bus and truck fleets in Australia, Canada, Dubai, France, Germany, Italy, Sweden, Switzerland, the UK, and others. Hitachi Energy said that “the COET acquisition increases its core capabilities at the edge of the grid, including power electronics, digital, and services, toward the larger goal of advancing a sustainable energy future for all.” The acquisition was completed on Dec. 28, 2023, following regulatory approval of the purchase agreement announced in August 2023.
Source: Hitachi Energy