Hitachi Energy, a pioneering technology company committed to advancing a sustainable energy future, announced today that it has signed a purchase agreement to acquire COET S.p.A. Based in San Donato Milanese, Italy, COET is a leading designer and manufacturer of power equipment for the rail and electric mobility sectors and employs around 80 people.

The acquisition is designed to strengthen Hitachi Energy's position as a global leader in power grids and energy infrastructure solutions, particularly in the realms of eMobility, transportation, and industry.

Both companies have enjoyed a long-standing collaboration, primarily through their joint work on the Grid-eMotion® suite of charging infrastructure solutions. The purchase of COET is expected to enhance complementary synergies for Hitachi Energy's core power electronics technology. The focus will remain on the expansion of its Grid-eMotion® suite.

In terms of operational structure, COET will continue to function as a standalone business within Hitachi Energy. It will maintain its existing management and product range and will keep operating under the COET trade name.

The acquisition is expected to close by the end of the year, subject to regulatory approvals.

Hitachi Energy's move to acquire COET underscores the company's strategic ambitions in a rapidly evolving energy landscape. By incorporating COET into its operational framework, Hitachi Energy not only fortifies its existing capabilities but also sets the stage for pioneering advances in the fields of eMobility and energy infrastructure.

Source: Hitachi Energy