Hitachi Energy announced that it has completed the acquisition of COET, a leading designer and manufacturer of energy equipment for electric mobility, rail and industry.

The acquisition strengthens Hitachi Energy’s global position and offering in high-power electric vehicle charging infrastructure, power electronics and edge of the grid.

Hitachi Energy and COET have a long-standing collaboration focused on Hitachi Energy’s Grid-eMotion portfolio of high-power charging infrastructure solutions. COET is also one of the leading designers, manufacturers and suppliers of DC traction products and components for railways and AC and DC equipment for high power industrial applications.

“We are delighted to welcome our long-standing partner to the Hitachi Energy family,” he said. Niklas Persson, Managing Director of Hitachi Energy’s Grid Integration business.

“The acquisition will enhance our position as a global leader in power grid technologies and energy infrastructure for eMobility, transportation and industry, while COET and its customers will greatly benefit from our global footprint and energy expertise.”.

COET will operate as an independent company under the direction of its current management team and will retain all its operations. The company has approximately 80 highly qualified 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. These industry-leading ultra-fast charging and grid-connected solutions have been deployed in sustainable transport projects for bus and truck fleets in Australia, Canada, Dubai, France, Germany, Italy, Sweden, Switzerland, United Kingdom and other countries.

The addition of COET to Hitachi Energy’s portfolio demonstrates the acceleration of the company’s strategic growth plan to 2030. Hitachi Energy is continuously strengthening its core power grid business while advancing the global energy system to make it more sustainable, flexible and safe. This acquisition increases its core capabilities at the edge of the grid, including power electronics, digital and services, towards the broader goal of moving towards a sustainable energy future for all.

The acquisition was completed on December 28, 2023, following regulatory approval of the purchase agreement announced in August 2023.



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