Emerson Strengthens Presence in Renewable Energy Sector with Acquisition of Mita-Teknik

Rhea-AI Summary

Emerson (NYSE: EMR) has acquired Mita-Teknik in an all-cash transaction, enhancing its capabilities in the wind power generation market. Mita-Teknik, founded in 1969, specializes in control automation for wind turbines, with over 60,000 installed systems globally. This acquisition complements Emerson's control systems and supports digital transformation and sustainability goals for power generation. It positions Emerson to better serve the growing demand for renewable energy solutions.

Positive

• Acquisition of Mita-Teknik boosts Emerson's presence in the rapidly growing wind power generation market.
• Mita-Teknik's control technology enhances Emerson's existing automation solutions, providing more value to customers.
• Acquisition aligns with Emerson's sustainability initiatives by supporting lower carbon transitions.

Negative

• None.

Transaction expands Emerson’s capabilities within the wind power generation market

ST. LOUIS--(BUSINESS WIRE)-- Emerson (NYSE: EMR) today announced it has acquired Mita-Teknik in an all-cash transaction. Founded in 1969, Mita-Teknik is a leader in the control automation business for wind power generation, equipping wind turbines and wind farms with technologies for optimal performance and unsurpassed reliability. This acquisition is highly complementary to Emerson’s existing control system portfolio and supports the company’s ability to help customers in their quest to digitally transform operations and meet sustainability goals.

Mita-Teknik’s proprietary controls manage wind turbine operation to maximize energy production, while their control software optimizes wind farm output to provide the lowest-cost source of energy. In addition to Mita-Teknik’s full portfolio of OEM technologies, they serve the fast-growing aftermarket segment by offering cost-competitive retrofit solutions that extend turbine operational life and increase annual energy production.

Mita-Teknik has a meaningful presence in the growing wind energy industry, with expertise in control design of over 400 wind turbine models and an installed base of more than 60,000 systems worldwide. The acquisition expands Emerson’s renewable power generation automation solutions to the wind power market and enhances its ability to provide more value to global power customers.

“Digitalization is critical for the renewable industry sector as power generators increasingly seek improved visibility and maintainability of their systems,” said Mark Bulanda, executive president of Emerson’s Automation Solutions business. “Our world-class power generation capabilities, now amplified by Mita-Teknik’s renewable expertise and technologies, will help power customers accelerate their digital transformation journey to smarter, more sustainable operations.”

“Mita-Teknik advances Emerson’s environmental sustainability framework – furthering our greening by initiatives – by supporting our customers’ transitions toward lower carbon using Emerson’s advanced products, expertise and solutions,” said Mike Train, senior vice president and chief sustainability officer for Emerson.

“We are proud to be joining Emerson, a company with global reach and proven track record of success in delivering sustainable solutions,” said Jesper Andersen, chairman of the Board of Mita-Teknik. “We are excited to pair our wind energy market presence with Emerson’s reputation and reach to expand our ability to serve customers in the global, emerging retrofit market.”

Mita-Teknik is headquartered in Rødkærsbro, Denmark.

About Emerson

Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets. Our Automation Solutions business helps process, hybrid and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency and create sustainable infrastructure. For more information visit Emerson.com.

About Mita-Teknik

Mita-Teknik has produced control automation for various industries since 1969 and been a part of the Wind industry since its beginning in the 1980s. Today, more than 60,000 wind turbines worldwide are controlled and monitored by Mita-Teknik’s solutions. Mita-Teknik provides software and technologies for wind turbine control, pitch control, wind park control, condition monitoring, communication networks and grid connections – all designed for high yield cost-optimized wind turbine operation. Learn more at mita-teknik.com.

Forward-Looking and Cautionary Statements

Statements in this press release that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties, and Emerson undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties are set forth in the Company's most recent Annual Report on Form 10-K and subsequent reports filed with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211216005596/en/

Investor Contact: Colleen Mettler (314) 553-2197

Media Contact: Casey Murphy (217) 414-5950

Source: Emerson

FAQ

What is the significance of Emerson acquiring Mita-Teknik?

The acquisition expands Emerson's capabilities in the wind power generation market, enhancing its control systems and supporting renewable energy solutions.

How does the acquisition of Mita-Teknik impact Emerson's market position?

It strengthens Emerson's position in the fast-growing renewable energy sector and helps meet increasing demand for sustainable solutions.

When did Emerson acquire Mita-Teknik?

Emerson announced the acquisition of Mita-Teknik on the date of the press release.

What technologies does Mita-Teknik provide?

Mita-Teknik offers control automation solutions for wind turbines, including software for optimizing energy production and extending turbine operational life.

What is Emerson's strategy following the acquisition of Mita-Teknik?

Emerson aims to leverage Mita-Teknik's technologies to enhance digital transformation and sustainability in power generation.