Power-One Renewable Energy Business to transition to the ABB brand name

2014-05-05 - ABB will unveil the solar industry's most comprehensive value proposition at key trade fairs

ABB, the leading power and automation technology group, announced today that the Power-One Renewable Energy Business will transition to the ABB brand in May 2014 as part of the planned integration of its Power-One acquisition. As a result, the ABB brand will represent the most comprehensive solar value proposition on the market today and one of the industry's broadest inverter product portfolios.

ABB acquired Power-One, the world's second largest manufacturer of photovoltaic inverters, in July 2013. The entire current Power-One Renewable Energy product offering, including all its product names, such as UNO, TRIO and ULTRA, will remain intact under the ABB brand, and all of its product certifications in all countries will remain valid.

In addition to maintaining its current solar offering, ABB will continue developing state-of-the art inverter, monitoring and integrated energy storage solutions to fulfill the growing global demand for solar solutions.

"By transitioning Power-One's Renewable Energy business to the ABB brand, we will be able to take full advantage of the combination of these two companies. We will have one of the most comprehensive solar inverter offerings under one brand, meeting customers' needs across all key segments – utility, commercial and residential," said Pekka Tiitinen, head of ABB's Discrete Automation and Motion division.

"Solar is an important and rapidly growing part of our global energy mix, and ABB remains confident about the continued importance of this segment," said Otto Preiss, head of ABB's Power Conversion business unit. "ABB's position in solar is built on a combination of leading technologies, customer intimacy, and a unique knowledge of local grids. By transitioning the Power-One Renewable Energy business under the ABB brand, it will allow us to focus on and invest in one strong and powerful brand around the world."

Alex Levran, Manager Product Group Solar in ABB's Power Conversion business unit, added "Combining our shared passion for technology with ABB's financial stability and global reach is going to create a great growth story. And ABB's reputation for quality and service will ensure that our customers continue receiving world class care."

The unified Power-One and ABB solar inverter product offering will be on display together for the first time at a number of the solar industry's highest profile trade events, including Solar Expo (Milan on May 7-9), Intersolar (Munich on June 4-6), PV America (Boston on June 23-25) and Intersolar North America (San Francisco on July 8-10).

About Power-One

Power-One, a leading provider of renewable energy and energy efficient power conversion and power management solutions and the world's second largest manufacturer of photovoltaic inverters, was acquired by ABB in July 2013. The company is headquartered in Camarillo, CA, USA and has global sales offices, manufacturing, and R&D operations in Asia, Europe, and the Americas.

As announced on April 28, 2014, Bel Fuse Inc. has agreed to buy Power-One's Power Solutions business from ABB. The sale is subject to customary regulatory clearance and is expected to close in the second quarter of 2014.

About ABB

ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 150,000 people.

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