Dubai PR Network, Online Press Release from Dubai and Middle East
 
(Energy and Industry)
Filter PR by
  
Hitachi ABB Power Grids Acquires Pioneer Solutions and Strengthens Energy Portfolio Management
 
Hitachi ABB Power Grids Acquires Pioneer Solutions and Strengthens Energy Portfolio Management

Acquisition will expand Energy Market Operations offering and empower energy market participants with leading digital capabilities to navigate the evolving regulatory environment and renewable energy goals. 

DUBAI – October 21, 2020: Hitachi ABB Power Grids has signed a definitive agreement to acquire US-based Pioneer Solutions, a provider of industry-leading front-to-back-office Commodities/Energy Trading and Risk Management (C/ETRM) solutions, headquartered in Denver, Colorado, USA. This expansion will give the business the most comprehensive offering in the market. The acquisition is expected to close in the fourth quarter of 2020. 

Pioneer Solutions has been recognized as an industry leader, being named in the top five of Energy Risk’s Software Survey & Rankings for the past seven years. The company was also ranked as the best cloud-based C/ETRM and as the number one in customer service and support by Energy CIO Insights for 2019. 

Claudio Facchin, CEO of Hitachi ABB Power Grids, said, “The addition of Pioneer Solutions, an industry recognized leader in Commodities/Energy Trading and Risk Management, will position us as the partner of choice for customers looking to support a sustainable energy future while managing market risks.” 

As a result of this agreement, Hitachi ABB Power Grids will expand its existing Energy Portfolio Management offering to create new value for energy market participants who trade, hedge risk and track emission and renewable energy credits for electricity and other commodities. 

Massimo Danieli, managing director of Hitachi ABB Power Grids’ grid automation business unit, said, “C/ETRM systems continue to be critical tools for global energy merchants and traders in western markets, and will be of increasing importance in Asian markets, especially Japan, China and many other rapidly developing economies.” He continued, “This comprehensive solution will help them to more effectively address the rapidly changing commodity markets around the world.”

Uday Baral, president, Pioneer Solutions LC, said, “We are excited to become a part of global technology leader, Hitachi ABB Power Grids. This acquisition positions Pioneer Solutions LLC to continue to provide our uncompromised level of service to our existing customers and expand our reach into new regions and segments.”

The foundation for Pioneer Solutions’ software is its Financial and Regulatory Risk Management (FARRMS) technology platform that offers customers increased flexibility, lower cost of ownership and faster time-to-value. Based on leading digital architecture, FARRMS forms a complete C/ETRM solution that can be deployed both on premises, at the customer site, or hosted in the cloud and delivered over the internet via a Software-as-a-Service (SaaS) model.


Posted by : Dubai PR Network Editorial Team
Viewed 8680 times
PR Category : Energy and Industry
Posted on : Wednesday, October 21, 2020  2:23:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Trina Solar's Vertex 600W+ Series Modules Obtained the Indus...
Next Story : HVAC Trends That Are Reshaping the Industry
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Saint Honoré Monceau Tourbillon – Limited Edition [9852-Views]
Cerruti 1881 - EID Special [5580-Views]
Amy Roko X Wow Beauty Forward [5314-Views]
Eid Edit by Tory Burch [5064-Views]
Malabar Gold & Diamonds Announces Participation with India Pavilion at the Much-Awaited Ex... [5010-Views]
Eid Gift Guide with Pandora [4719-Views]
LOOTAH Releases Exquisite New Perfume: Elusive, as the perfect gift for any season! [4649-Views]
Rare Beauty - Sephora [4412-Views]
Beachy Brows Just in Time for Eid Al Adha Holiday [3924-Views]
Summer Bronzing Has Never Been So Easy [3682-Views]
Purificacion Garcia Eid Al Adha Selection [3268-Views]
Amazing Deals on Jewellery and Gold Vouchers to Win; Dubai Gold & Jewellery Group Announc... [3247-Views]
Get Ready to Sparkle This Eid With Tanishq [3161-Views]
Mohammed bin Rashid Approves Board and Advisory Council of Dubai International Chamber [3149-Views]
Dubai Customs and the Emirates Intellectual Property Association Discuss More Cooperation ... [2792-Views]
Ace these Top Five Summer Beauty Looks with Flormar [2776-Views]
Discover the new Eid Collection at THAT Concept Store [2620-Views]
Alpen Capital finds Sri Lanka's Banking and NBFI Sector Resilient Despite Challenges [2587-Views]
Legend Spa Launches Kids Spa Pop-Up at Modhesh World [2493-Views]
IATA Calls on States to Follow WHO Guidance on Cross-Border Travel [2394-Views]
Emaar Malls Unveils a Season of Spectacular Rewards & Family Entertainment for the Summer!... [2366-Views]
5 Outfits to Host Guests in Style and Comfort [2329-Views]
Lenovo and FC Internazionale Milano Strengthen Winning Partnership [2292-Views]
Tax is Not the Answer to Aviation Sustainability [2185-Views]
10 Great Value Gifts for Eid Al Adha [2173-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories