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

ABB LTD

(ABBN)
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Delayed Quote. Delayed Swiss Exchange - 07/13 11:30:52 am
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ABB : to install control solution for the automation of Lhyfe's first green hydrogen clean energy production project

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05/19/2020 | 09:17am EDT

Lhyfe, the French producer and supplier of green hydrogen, has chosen ABB, the world leader in control systems and advanced technologies, to implement an automation solution at its first green hydrogen production site.

ABB supports a wide range of industries in their digital transformation and will supply the first Lhyfe production site with its Freelance distributed control system and ABB AbilityTM Manufacturing Operations Management (MOM) digital platform.

These solutions will control all the elements involved in the hydrogen production process at the Bouin site in the Vendee region, France and ABB's automation technology is being installed to deliver improved efficiency, safety and productivity across the operation.

Bruno Roche, Local Business Manager Industrial Automation at ABB France, said:'Lhyfe is pioneering a revolutionary process that makes green hydrogen production possible on an industrial scale - a big step towards tackling the world's carbon footprint. This is a win-win technical partnership and ABB is thrilled to be a helping Lhyfe to deliver this important clean energy milestone.'

A control system to pilot and optimize green hydrogen production

To control all the elements of the hydrogen production process at its fully automated 24/7 site in Bouin - to be inaugurated in 2021 - Lhyfe has chosen a complete ABB control solution. An integrated Freelance distributed control system (DCS) with a common and centralized database will reduce the development time and the complexity of automation systems.

With native inter-controller communication and a library of over 200 function blocks, this system will offer agility and scalability. In coordination with Lhyfe and ABB, the system integrator Bossard, ABB's partner in the Vendee, will be responsible for the design, construction, programming and commissioning of the entire solution.

An exciting technical partnership

ABB's Distributed Control System is ranked number one for the 20th consecutive year, by the ARC advisory group.

Lhyfe, producer and supplier of green hydrogen, is the world pioneer in its sector. Its hydrogen is produced directly from renewable energies (wind, photovoltaic, etc.).

Matthieu Guesne, founder of Lhyfe added: 'Around the world, ABB's innovative solutions are improving industrial efficiency, productivity and quality, while minimizing environmental impact. In addition, ABB is already very active in the world of hydrogen and renewable activities. Their experience and broad portfolio will hopefully mean we are in a position to partner on future projects. We are pleased to be working with a business so committed to renewable energy.'

Lhyfe: Created in 2017 in Nantes (France), Lhyfe is a producer and supplier of 100% green hydrogen for mobility and industry. Its modular and scalable production units allow to access to green hydrogen in industrial quantities, supporting a virtuous energy model oriented towards environmental benefits. Lhyfe has 15 employees and it is a member of Afhypac. It generated 8-million-Euro revenue in 2019. In 2020 is laying the foundation stone for its first production site of green hydrogen.

ABB (ABBN: SIX Swiss Ex) is a technology leader that is driving the digital transformation of industries. With a history of innovation spanning more than 130 years, ABB has four, customer-focused, globally leading businesses: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation, supported by the ABB Ability digital platform. ABB's Power Grids business will be divested to Hitachi in 2020. ABB operates in more than 100 countries with about 144,000 employees. www.abb.com

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2020 24 382 M - -
Net income 2020 5 575 M - -
Net cash 2020 248 M - -
P/E ratio 2020 9,34x
Yield 2020 3,41%
Capitalization 52 008 M 52 052 M -
EV / Sales 2019
EV / Sales 2020 2,12x
Nbr of Employees 144 000
Free-Float 86,4%
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Mean consensus HOLD
Number of Analysts 22
Average target price 22,55 $
Last Close Price 24,38 $
Spread / Highest target 17,5%
Spread / Average Target -7,49%
Spread / Lowest Target -30,3%
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Björn Klas Otto Rosengren 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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