Day: December 21, 2022

Strengthening key power infrastructure in London while reducing carbon footprint

Zurich, Switzerland, Dec. 21, 2022 (GLOBE NEWSWIRE) — Hitachi Energy and Linxon are collaborating to strengthen London Power Tunnels (LPT), a key power infrastructure project that will ensure reliable, clean electricity supply for England’s capital city. To support National Grid in accelerating its net zero targets, Hitachi Energy will deliver EconiQ 420-kilovolt (kV) gas-insulated switchgear (GIS) and gas-insulated lines (GIL) containing no sulfur hexafluoride (SF₆).

As one of the world’s largest investor-owned transmission and distribution utilities, National Grid has the ambition to remove all SF₆ from its fleet by 2050. In 2020, it embarked on LPT project that will replace ageing high-voltage electricity cables and expand network capacity to meet the increasing electricity demand. Considered to be one of the city’s largest engineering projects since the 1960s, the LPT will span 32.5 kilometers via underground tunnels in South London.

Linxon is building Bengeworth Road substation for National Grid to develop the LPT infrastructure. To support National Grid in its transition to SF₆-free solutions, Hitachi Energy will deliver 7 bays of its EconiQ 420 kV GIS to enable the transmission of electricity over long distances while eliminating SF₆, in addition to EconiQ 420 kV GIL. The EconiQ high-voltage portfolio is 100 percent as reliable as the conventional solutions based on SF₆. The installation is expected to commence by 2023.

“We’re delighted that Bengeworth Road substation, at the heart of London Power Tunnels, will be SF₆-free,” said Onur Aydemir, National Grid Project Director for London Power Tunnels. “This key power project will deliver a secure energy supply to the capital, and by using sustainable technology we are minimizing the environmental impact of our operations to support the transition to Net Zero.”

“Following the successful collaboration with National Grid on the world’s first replacement of SF₆ in existing high-voltage equipment and award-winning project in Richborough, UK, we are proud to be supporting National Grid again in its transition to SF₆-free solutions,” said Markus Heimbach, Managing Director of the High Voltage Products business at Hitachi Energy. “The EconiQ GIS is based on our breakthrough SF₆-free 420 kV circuit-breaker that demonstrates the reliability and scalability of the technology for the lowest carbon footprint.”

“Linxon is building the infrastructure to power the world with carbon free energy. Thanks to strong collaboration with Hitachi Energy, Linxon is able to provide the pioneering EconiQ SF₆-free solution from Hitachi Energy for the Bengeworth substation, supporting our client to meet their sustainability targets”, said Stefan Reisacher, CEO of Linxon.

EconiQ is Hitachi Energy’s eco-efficient portfolio for sustainability, where products, services and solutions are proven to deliver exceptional environmental performance. Hitachi Energy has placed sustainability at the heart of its purpose and is advancing a sustainable energy future for all.

About Hitachi Energy

Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world’s energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 40,000 people in 90 countries and generate business volumes of approximately $10 billion USD.

https://www.hitachienergy.com
https://www.linkedin.com/company/hitachienergy
https://twitter.com/HitachiEnergy

About Hitachi, Ltd.

Hitachi drives Social Innovation Business, creating a sustainable society with data and technology. We will solve customers’ and society’s challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products, under the business structure of Digital Systems & Services, Green Energy & Mobility, Connective Industries and Automotive Systems. Driven by green, digital, and innovation, we aim for growth through collaboration with our customers. The company’s consolidated revenues for fiscal year 2021 (ended March 31, 2022) totaled 10,264.6 billion yen ($84,136 million USD), with 853 consolidated subsidiaries and approximately 370,000 employees worldwide. For more information on Hitachi, please visit the company’s website at https://www.hitachi.com.

About Linxon

Linxon commenced operations on September 1, 2018, undertaking turnkey electrical alternating current substation projects related to renewable and conventional power generation, power transmission and transportation solutions. Substations enable the efficient and reliable transmission and distribution of electricity. Within the substation, switchgear controls and protects the network from power outages and facilitates reliable electricity supply. (https://linxon.com/)

Attachment

• London

Jocelyn Chang
Hitachi Energy
+41793847775
jocelyn.chang@hitachienergy.com

GlobeNewswire Distribution ID 8718382

Double-Digit Million Dollar Deal Accelerates Blacklane’s Long-Term and Sustainable Growth in the Middle East and Globally

DUBAI, United Arab Emirates and BERLIN, Dec. 21, 2022 (GLOBE NEWSWIRE) — Blacklane, the leading global chauffeur services provider, has partnered with Gargash Group, one of the leading business conglomerates in the UAE, as its most recent investor, alongside long-time backer Mercedes-Benz Mobility that also joined the round. This series F financing round brings a significant Million Dollar investment in the double digits at a valuation roughly 50% higher than the previous one from 2020.

Blacklane, which brings a unique premium chauffeur service experience to its clients, has seen unprecedented growth in popularity over the last months. With the new investment, the company will focus on its fleet’s transition to electric vehicles (EVs) including a retained super-charging network to accelerate its race to net zero and satisfy growing customer expectations. Since Blacklane aims to constantly deliver premium standards across its global chauffeur services network while improving the crew’s well-being, Blacklane has founded its first Chauffeur Academy in Dubai to ensure the highest service quality right from the start. The important Middle East market serves Blacklane as a test bed to optimize its structure and subsequently scale the new approach globally. Gargash Enterprises’ and Mercedes-Benz Mobility’s support is accelerating Blacklane’s ability to transition to EVs as well as perfecting its service blueprint and introducing it to other cities worldwide. While Gargash Enterprises contributes its local expertise and sustainability know-how, Mercedes-Benz Mobility provides Blacklane with world-class electric vehicles optimized for perfect chauffeur service experiences. Mercedes-Benz Mobility, investor since 2013, holds a brand share of more than 50% of Blacklane’s global fleet.

Blacklane Announces Significant Investment from Gargash Group and Mercedes-Benz Mobility

Jens Wohltorf, CEO and founder of Blacklane, said: “Gargash Group is the perfect partner to super-charge our growth in the Middle East and globally. Dubai is an important gateway for international clients, a key leisure and commercial city, hungry for innovation, and committed to sustainability. Hence Gargash Group’s expertise and partnership lay the foundation to globally ramp up our premium electric fleet, set up our local chauffeur academies, and support the technical and operational expansion of our innovative platform. The ultimate goal is to continue driving our rapid growth. This new investment round is proof of Blacklane crew’s achievements. In the past three years, we successfully introduced innovative products, thereby winning an impressive amount of new business accounts, quadrupling revenues in 2022 year-on-year, and achieving EBIT profitability. I am very proud of the team!”

Mr. Shehab Gargash, Managing Director and Group CEO of Gargash Group, said: “Gargash Group has been witnessing the progress of Blacklane and believes that their strategic direction is much in line with the vision the Group has for its future. Our decision to make this investment at this juncture is very much aligned with how we see our industry evolving.”

Blacklane Announces Significant Investment from Gargash Group and Mercedes-Benz Mobility

Franz Reiner, CEO of Mercedes-Benz Mobility AG, said: “We at Mercedes-Benz Mobility strive to exceed our customers’ expectations delivering an extraordinary customer experience moving ahead into a new era of individual mobility. Blacklane has been a perfect partner for almost 10 years while providing excellent experiences and peace of mind for its customers. We are looking forward to continuing our successful partnership and collaboration.”

About Blacklane
Blacklane’s premium global chauffeur service brings peace of mind to travelers moving through a fast-paced world in over 50 countries worldwide. The crew’s dedication to safety, reliability, and smart technology places Blacklane at the forefront of a new era of stress-free travel. Since 2017, the company has been offsetting carbon emissions of all rides, combining a five-star guest experience with care for the planet. Blacklane’s services include on-demand chauffeured rides within cities, hourly bookings, and inter-city commutes, alongside classic airport transfers. Blacklane’s goal is to create the best sustainable chauffeur service experience in the world, exceeding guests’ expectations every time. Enjoy the journey as much as the destination with Blacklane. https://app.adjust.com/x0bj467

About Gargash Group
Since 1918, the Gargash Group has established itself as a leading business enterprise with a portfolio diversifying into automotive, real estate, and investments. Gargash successfully introduced leading global automotive brands into the UAE such as Mercedes-Benz, Alfa Romeo, GAC MOTOR, SIXT Rent a Car in addition to presenting an industrial line of lubricants, construction equipment & power systems. The group’s investment sector operating since 1998 provides financial services, while the developing real estate sector offers its valued clients expert residential, commercial and industrial property.

About Mercedes-Benz Mobility
With around 10,000 employees, Mercedes-Benz Mobility specializes in financial and mobility services. The products range from financing, leasing, vehicle subscriptions, rental, and fleet management to digital services for charging and payments, as well as insurance and innovative mobility services. Mercedes-Benz Mobility is a division of Mercedes-Benz Group AG, which also includes the vehicle manufacturer Mercedes-Benz AG, one of the largest suppliers of premium and luxury passenger cars and vans. Mercedes-Benz Group AG is one of the most successful automotive companies in the world. As a financial services provider, Mercedes-Benz Mobility entities worldwide support sales of the Mercedes-Benz Group’s automotive brands worldwide. In Germany, Mercedes-Benz Bank AG, as part of Mercedes-Benz Mobility is one of the leading vehicle financing banks and offers around one million customers financial flexibility. In 2021, Mercedes-Benz Mobility financed or leased around every second of the Mercedes-Benz Group’s vehicles sold worldwide. This corresponds to a contract volume of 133.7 billion €. The business segment generated sales of 27.9 billion € in 2021 and achieved an EBIT adjusted of 3.4 billion €. Mercedes-Benz Mobility operates in 36 countries.

For Blacklane ME media inquiries, please contact:
Hannah McCabe, hannah@coco-comms.me +971(0)52 6100577
Caroline Holmberg, Caroline@coco-comms.me +971(0)50 9127143

For Blacklane media inquiries, please contact:
Radmila Palová, press@blacklane.com,  +49 157 8067 4435

For Gargash Group media inquiries, please contact:
Grace Eid, grace.eid@gargash.ae, +971 (04) 2094163

For Mercedes-Benz Mobility inquiries, please contact:
Michael Kuhn, michael.m.kuhn@mercedes-benz.com, +49 160 8614 768

Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7762f590-000d-4968-842e-7051a6ce5858

https://www.globenewswire.com/NewsRoom/AttachmentNg/956c0639-52c3-4fa9-9eba-c424f4577992

https://www.globenewswire.com/NewsRoom/AttachmentNg/c30d7ead-a10e-4184-8bb6-30e9812ea543

GlobeNewswire Distribution ID 8718381

December 21, 2022

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA) today provides an update on the comprehensive test and research program of its subsidiary Philips Respironics, following the voluntary recall notification/field safety notice* to address potential health risks related to the polyester-based polyurethane (PE-PUR) sound abatement foam in specific CPAP, BiPAP and mechanical ventilator devices.

Following previous updates in December 2021 and June 2022, additional test results and assessments have now been completed for the first-generation DreamStation devices (approximately 68% of the registered devices globally). These devices have not been exposed to ozone cleaning in line with the instructions for use.

The test and research program has been conducted together with five independent, certified testing laboratories, and the results have been reviewed and assessed by third-party qualified experts and Philips Respironics, as well as an external medical panel.

The full press release is available in the attached PDF and available here.

* Voluntary recall notification in the US/field safety notice for the rest of the world.

For media questions, please contact:

Steve Klink
Philips Global Press Office
Tel.: +31 6 10888824
E-mail: steve.klink@philips.com

Ben Zwirs
Philips Global Press Office
Tel.: +31 6 15213446
E-mail: ben.zwirs@philips.com

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2021 sales of EUR 17.2 billion and employs approximately 79,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Forward-looking statements
This statement contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

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• Philips provides update on completed set of test results for first-generation DreamStation sleep therapy devices

GlobeNewswire Distribution ID 1000773471