Mitsubishi Electric Acquires DC Circuit Breaker Developer Scibreak

Rhea-AI Summary

Mitsubishi Electric Corporation (Tokyo:6503) has announced its decision to wholly acquire Scibreak AB, a Swedish company specializing in direct current circuit breakers (DCCBs), via a share transfer agreement on February 16. This acquisition aims to enhance the competitiveness of Mitsubishi's HVDC systems amidst the global rise in renewable energy demand. DCCBs are critical for efficient offshore wind power generation, allowing for lower power losses and improved transmission. With Scibreak’s advanced technology in DCCBs, Mitsubishi aims to bolster its international market leadership and contribute to carbon neutrality efforts.

Positive

• Strengthens Mitsubishi's competitive position in the HVDC market.
• Utilizes Scibreak's leading DCCB technology for faster, compact solutions.
• Aligns with global renewable energy initiatives, supporting carbon neutrality.

Negative

• None.

Aiming to supply advanced circuit breakers for high-voltage DC power transmission

TOKYO--(BUSINESS WIRE)-- Mitsubishi Electric Corporation (TOKYO:6503) announced today that it entered into a share transfer agreement on February 16 to wholly acquire Scibreak AB, a Swedish-based company that develops direct current circuit breakers (DCCBs). The two firms aim to strengthen the competitiveness of their unified business by working closely on developing DCCB technologies for high-voltage direct current (HVDC) systems to support the increasing global deployment of renewable energy.

Purpose of Acquisition

The introduction of renewable energy generation, such as wind power, is increasing worldwide to achieve carbon neutrality. Particularly in offshore wind power generation, HVDC is used for long-distance transmission between offshore and onshore load centres, as it offers lower power losses and cost when compared to AC transmission. In the future, multi-terminal HVDC networks are expected to develop, particularly for offshore wind power generation in Europe, allowing for efficient cross-border energy transmission. These networks will require DCCBs, which will play a critical role in protecting the power system.

HVDC breakers will require very fast operation times, in the order of a few milliseconds, and companies are stepping up technological development in response to the need for more compact, high-performance, and cost effective DCCBs.

Scibreak has market leading DCCB technology, in terms of operation time and footprint. Through the acquisition of shares, Mitsubishi Electric will utilise Scibreak’s technology and know-how to lead the market commercialisation of DCCBs, strengthening its global HVDC system business and contributing to the realisation of carbon neutrality through the further spread of renewable energy.

For the full text, please visit: www.MitsubishiElectric.com/news/

View source version on businesswire.com: https://www.businesswire.com/news/home/20230219005035/en/

Customer Inquiries

Transmission & Distribution Systems Marketing Div

Energy & Industrial Systems Group

Mitsubishi Electric Corporation

tdm.tds@rf.MitsubishiElectric.co.jp

Media Inquiries

Takeyoshi Komatsu

Public Relations Division

Mitsubishi Electric Corporation

Tel: +81-3-3218-2346

prd.gnews@nk.MitsubishiElectric.co.jp

www.MitsubishiElectric.com/news/

Source: Mitsubishi Electric Corporation

FAQ

What is Mitsubishi Electric's acquisition of Scibreak AB about?

Mitsubishi Electric is acquiring Scibreak AB to enhance its direct current circuit breaker technology for high-voltage systems, supporting renewable energy deployment.

When was the acquisition of Scibreak AB announced?

The acquisition was announced on February 16.

How will this acquisition impact Mitsubishi Electric's business?

The acquisition is expected to strengthen Mitsubishi Electric's position in the HVDC market and support the shift towards renewable energy solutions.

What technology does Scibreak AB specialize in?

Scibreak AB specializes in direct current circuit breakers (DCCBs), crucial for efficient energy transmission.

How does this acquisition relate to renewable energy?

It supports the growing demand for offshore wind power generation and aims to enhance energy transmission efficiency, aiding global carbon neutrality goals.