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ABB Collaborates With DEP to Promote Energy Transformation
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ABB Ltd has entered into a strategic partnership with Direct Energy Partners ("DEP") to accelerate energy transformation. DEP is a startup focusing on accelerating the adoption of Direct Current (DC) microgrids.
As part of the partnership, ABB will make a minority investment in DEP through its venture capital unit, ABB Technology Ventures (ATV). Financial details of the investment have been kept under wraps. Since its inception in 2009, ATV has invested around $300 million in startups related to its electrification, robotics, automation and motion portfolio.
The partnership advances ABB’s strategy of expanding its ecosystem of digital energy services for Direct Current applications. Previously, in August 2022, the company unveiled the SACE Infinitus solid-state circuit breaker, a key enabler for direct current power systems.
DEP focuses on local energy generation and distribution with scalable DC microgrids that help to increase customers operational autonomy while simultaneously reducing their overall energy and operating costs. Megawatt-scale and low-voltage DC energy networks will play a vital role in this energy transformation.
Through this partnership with DEP, ABB expects to deliver a digital platform, enabling energy professionals to design and deliver DC microgrids effortlessly.
Zacks Rank & Other Key Picks
ABB currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks within the broader Industrial Products sector are as follows:
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ABB Collaborates With DEP to Promote Energy Transformation
ABB Ltd has entered into a strategic partnership with Direct Energy Partners ("DEP") to accelerate energy transformation. DEP is a startup focusing on accelerating the adoption of Direct Current (DC) microgrids.
As part of the partnership, ABB will make a minority investment in DEP through its venture capital unit, ABB Technology Ventures (ATV). Financial details of the investment have been kept under wraps. Since its inception in 2009, ATV has invested around $300 million in startups related to its electrification, robotics, automation and motion portfolio.
The partnership advances ABB’s strategy of expanding its ecosystem of digital energy services for Direct Current applications. Previously, in August 2022, the company unveiled the SACE Infinitus solid-state circuit breaker, a key enabler for direct current power systems.
ABB Ltd Price
ABB Ltd price | ABB Ltd Quote
DEP focuses on local energy generation and distribution with scalable DC microgrids that help to increase customers operational autonomy while simultaneously reducing their overall energy and operating costs. Megawatt-scale and low-voltage DC energy networks will play a vital role in this energy transformation.
Through this partnership with DEP, ABB expects to deliver a digital platform, enabling energy professionals to design and deliver DC microgrids effortlessly.
Zacks Rank & Other Key Picks
ABB currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks within the broader Industrial Products sector are as follows:
Deere & Company (DE - Free Report) currently sports a Zacks Rank #1 (Strong Buy). The company pulled off a trailing four-quarter earnings surprise of 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Deere has an estimated earnings growth rate of 30% for the current fiscal year. The stock has gained 13% in the past six months.
Ingersoll Rand (IR - Free Report) presently carries a Zacks Rank #2. The company delivered a four-quarter earnings surprise of 8.5%, on average.
Ingersoll Rand has an estimated earnings growth rate of approximately 3% for the current year. The stock has rallied 15.3% in the past six months.