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Mitsubishi Hitachi Power Systems spins out energy and power business in the U.S.

Mitsubishi turbine at the Hellisheidi geothermal power plant, Iceland (source: flickr/ ThinkGeoEnergy, creative commons)
Alexander Richter 29 Mar 2018

Mitsubishi Hitachi Power Systems Americas is spinning out its Power & Energy Solutions business in the U.S., which includes geothermal power generation technology.

In a release this week, Mitsubishi Hitachi Power Systems Americas (MHPS) announced the creation of a Power & Energy Solutions business focused on delivering customer solutions in the areas of digital power, energy storage, and low carbon power generation. MHPS Vice President Tom Cornell, an industry leader with more than twenty-five years of technical and commercial experience in the global power industry, was promoted to lead this new business, effective April 1, 2018.

“As our existing power generation business continues to grow and capture market share throughout the Americas, MHPS is excited to announce this new investment in innovative technologies, new business models, digital tools, and customer partnerships to deliver solutions that take the cost and the carbon out of the entire generation, delivery, and consumption value chain of the power industry,” said Paul Browning, President and CEO of MHPS Americas.

MHPS Americas’ new Power & Energy Solutions business wants to develop next generation technologies, both proprietary and in partnerships, utilizing artificial intelligence, energy efficiency, battery storage beyond lithium ion, geothermal renewable power, solid oxide fuel cells and upgrades for natural gas-fired power plants. The new firm is headquartered in Lake Mary, Florida and is launching having already made some solutions commercially available, according to the release.

With no major geothermal development push on the horizon in the U.S. the impact on the geothermal sector in the country might be limited.

Source: Company release via BusinessWire