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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  ABB Ltd    ABBN   CH0012221716

ABB LTD

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ABB : Italian Utility Evolvere Launch Blockchain Pilot In Solar Energy

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05/21/2019 | 08:46am EDT

Swiss engineering major ABB Ltd. teamed with Italian utility Evolvere to launch a blockchain pilot project to explore transparent, secure peer-to-peer solar energy transactions, media outlet PV Tech reported.

The companies will test the potential of blockchain technology in solar systems. The blockchain technology was developed in partnership with Prosume.

ABB expects that its Ability platform will facilitate the creation of smart contracts directly into the company's inverters.

ABB also believes its inverters would help to more efficiently manage energy exchange in smart-grid environments. This is through utilizing smart contracts and blockchain to store, verify and maintain peer-to-peer transactions on a public distributed ledger.

Once the pilot project is completed, ABB reportedly plans to make all its inverters in the same class compatible with blockchain technology.

The companies expect the use of blockchain would help to decentralize the way in which transactions are processed. It would help to reduce costs for energy consumers, and facilitate faster transactions and automatic payments for a range of services.

(c) 2019 All material Times of Swaziland. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2019 28 829 M
EBIT 2019 2 828 M
Net income 2019 1 721 M
Debt 2019 5 273 M
Yield 2019 3,98%
P/E ratio 2019 22,89
P/E ratio 2020 14,00
EV / Sales 2019 1,68x
EV / Sales 2020 1,59x
Capitalization 43 162 M
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Number of Analysts 21
Average target price 22,6 $
Spread / Average Target 13%
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Ulrich Spiesshofer President & Chief Executive Officer
Peter R. Voser Chairman
Timo J. Ihamuotila Chief Financial Officer
Jacob Wallenberg Vice Chairman
Matti Juhani Alahuhta Independent Non-Executive Director
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