Scibreak AB and Mitsubishi Electric Corporation (TOKYO: 6503) announced today that they entered into a share transfer agreement on February 16 under which Mitsubishi Electric Corporation wholly acquires Scibreak AB. The two firms aim to strengthen the competitiveness of their unified business by working closely on developing DCCB technologies for high-voltage direct current (HVDC) systems to support the increasing global deployment of renewable energy.
Purpose of Acquisition
The introduction of renewable energy generation, such as wind power, is increasing worldwide to achieve carbon neutrality. Particularly in offshore wind power generation, HVDC is used for long-distance transmission between offshore and onshore load centres, as it offers lower power losses and cost when compared to AC transmission. In the future, multi-terminal HVDC networks are expected to develop, particularly for offshore wind power generation in Europe, allowing for efficient cross-border energy transmission. These networks will require DCCBs, which will play a critical role in protecting the power system.
HVDC breakers will require very fast operation times, in the order of a few milliseconds, and companies are stepping up technological development in response to the need for more compact, high-performance, and cost effective DCCBs.
Scibreak has a market leading DCCB technology, in terms of operation time and footprint. Through the acquisition of shares, Mitsubishi Electric will utilise Scibreak’s technology and know-how to lead the market commercialisation of DCCBs, strengthening its global HVDC system business and contributing to the realisation of carbon neutrality through the further spread of renewable energy.
About Scibreak AB
Scibreak develops and manufactures ultra-fast protection equipment for use in DC and current-limiting AC
applications. The company was founded by Lennart Ängquist and Staffan Norrga in 2014. Based in Järfälla, Sweden it currently has 9 employees (as of December 31, 2022).
About Mitsubishi Electric Corporation
With more than 100 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Mitsubishi Electric enriches society with technology in the spirit of its “Changes for the Better.” The company recorded a revenue of 4,476.7 billion yen (U.S.$ 36.7 billion*) in the fiscal year ended March 31, 2022. For more information, please visit www.MitsubishiElectric.com
*U.S. dollar amounts are translated from yen at the rate of 122 JPY = U.S.$1, the approximate rate on the Tokyo Foreign Exchange Market on March 31, 2022
An english PDF-version of the press release is available here. A swedish PDF-version of the press release is available here.