Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

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

ABB LTD

(ABBN)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

ABB : and Evolvere pilot brings residential blockchain technology ever closer

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/15/2019 | 04:08am EDT

Working with Evolvere, ABB inverters are enabling a more efficient management of energy exchange in smart grid environments using blockchain and smart contracts technology.

With the rising prosumer movement, growth of digitalization and demand for renewables, traditional centralized energy models are looking to new revolutionary energy exchanges.

In response, pioneering technology leader ABB has been collaborating with leading Italian utility Evolvere, using the blockchain technology previously developed with their partner Prosume, to help delivering transparent and secure peer-to-peer energy transactions.

Using the capability of ABB to deliver digital solutions through ABB Ability™ and ABB's leading inverter portfolio, including UNO-DM-PLUS solar inverters and REACT 2 inverters with storage, the pilot has opened-up a new wave of possibilities for energy markets to explore new and transformative models toward smart grid environments.

Giampiero Frisio, Head of ABB's Smart Power Business line explained: 'We recognize that the way people consume and harness their energy is changing. Prosumers, who use their own photovoltaic systems, are looking at how they can not only produce and use the energy they create, but also review how they can then share any excess energy between neighbors, communities and the wider grid.'

'As a pioneering technology leader, with a range of digitally enabled sun-to-socket solutions, we are keen to work with like-minded organizations, such as Evolvere to test the potential of blockchain technology in solar systems, which will give us a powerful platform for future energy sharing solutions,' Frisio added.

Blockchain, a public distributed ledger, is used for storing, verifying and maintaining peer-to-peer transactions. It also has huge potential to disrupt the energy sector, offering a viable transaction alternative to traditional models.

It decentralizes the way transactions are made and managed by adopting a secured and trustworthy peer-to-peer approach, which reduces complexity and costs for customers (utilities, aggregators and the energy community overall). It also delivers high efficiency for consumers and providers, enabling fast execution and automatic payment for maintenance and other services.

This latest pilot between ABB and Evolvere further supports the claims that blockchain can be harnessed within energy markets and used within utilities and aggregators, to enable new business models.

Indeed, it demonstrates how blockchain-ready inverters with built-in digital capabilities can potentially allow utilities, aggregators and energy cooperatives to cut CAPEX and OPEX project costs. This is achieved thanks to ABB Ability™ platform enabling new digital solutions like the generation of smart contracts directly into the inverter. Such smart contracts offer greater transparency and security for transactions and present new possibilities for utilities to evolve their businesses.

Franco Giampetruzzi, CEO of Evolvere said: 'We are committed to spreading the advantages of distributed energy generation through smart grid technology to enable homeowners to realize just how close we are to sharing energy with other consumers. ABB is a high quality and reliable partner that supports our innovations in the blockchain space.'

Following the pilot, ABB will take the research one step further and investigate how it can ensure all its inverters in the same class are blockchain ready.

Frisio from ABB concludes: 'The Evolvere project has allowed us to develop viable and proven solutions for the market in anticipation of new dynamics and regulatory frameworks coming in to place for blockchain technology. We are excited to be on this journey as we write the future of energy.'

ABB (ABBN: SIX Swiss Ex) is a pioneering technology leader with a comprehensive offering for digital industries. With a history of innovation spanning more than 130 years, ABB is today a leader in digital industries with four customer-focused, globally leading businesses: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation, supported by its common ABB Ability™ digital platform. ABB's marketleading Power Grids business will be divested to Hitachi in 2020. ABB operates in more than 100 countries with about 147,000 employees. www.abb.com

Disclaimer

ABB Ltd. published this content on 15 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 15 May 2019 08:07:04 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ABB LTD
07:19aABB : wins system package with Keppel for dredging contractor Van Oord
PU
06/17ABB : helps world's largest wheat straw paper manufacturer improve quality
PU
06/17ABB : New ABB Ability™ Optimold Control offers unrivalled, real time in-mo..
PU
06/13ABB : and Fastned celebrate launch of 100th charging location
PU
06/13ABB : to support South Korea's carbon-free future
PU
06/13KOREA ELECTRIC POWER : ABB to support South Korea's greener future
AQ
06/12ABB : Power2® two-stage turbocharger technology now available for railway custom..
PU
06/12ABB : pushes ratio boundaries with the launch of new A200-H turbocharger
PU
06/12ABB names ex-GE exec Maryrose Sylvester to lead U.S. business
RE
06/12ABB : Maryrose Sylvester appointed United States Country Managing Director and U..
AQ
More news
Financials ($)
Sales 2019 28 829 M
EBIT 2019 2 821 M
Net income 2019 1 726 M
Debt 2019 5 205 M
Yield 2019 4,11%
P/E ratio 2019 22,10
P/E ratio 2020 13,47
EV / Sales 2019 1,63x
EV / Sales 2020 1,54x
Capitalization 41 762 M
Chart ABB LTD
Duration : Period :
ABB Ltd Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ABB LTD
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 22,7 $
Spread / Average Target 17%
EPS Revisions
Managers
NameTitle
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
Sector and Competitors
1st jan.Capitalization (M$)
ABB LTD0.64%39 916
SHANGHAI ELECTRIC GROUP COMPANY LIMITED7.69%10 046
ABB INDIA LTD14.73%4 879
GATES INDUSTRIAL CORP PLC-19.18%3 269
QINGDAO TGOOD ELECTRIC CO.,LTD.--.--%2 600
HENAN PINGGAO ELECTRIC COMPANY LIMITED-7.18%1 466