Hitachi Energy announced that it completed the acquisition of COET, a leading designer and manufacturer of power equipment for electric mobility, rail and industry, headquartered in the Milan metropolitan area.
The acquisition strengthens Hitachi’s global position and offering in high-power electric vehicle charging infrastructure, power electronics and the grid edge.
Hitachi Energy and COET have a long-standing collaboration focused on Hitachi Energy’s portfolio of Grid-eMotion® high-power charging infrastructure solutions.
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COET’s Scope
COET is a leading designer, manufacturer and supplier of DC traction products and components for railroads and AC and DC equipment for high-power industrial applications.
“We are delighted to welcome our long-time partner to the Hitachi Energy family,” said Niklas Persson, Managing Director of Hitachi Energy‘s Network Integration business.
“The acquisition will enhance our position as a global leader in power grid and energy infrastructure technologies for eMobility, transportation and industry, while COET and its customers will benefit greatly from our global footprint and energy expertise,” he explained.
COET will operate as an independent company under the leadership of its current management team and will retain all of its operations. The company has approximately 80 highly skilled and specialized employees.
Hitachi Energy’s Grid-eMotion offering of high-power charging infrastructure for electric bus and truck fleets is growing rapidly around the world.
Industry-leading ultrafast charging and grid-connected solutions have been deployed in sustainable transportation projects for bus and truck fleets in Australia, Canada, Dubai, France, Germany, Italy, Sweden, Switzerland, the United Kingdom and other countries.
The addition of COET to Hitachi Energy‘s portfolio demonstrates the acceleration of the company’s 2030 strategic growth plan.
