New brand first step on company's journey towards separate value creation
Accelleron conveys ambition “to succeed and move further”
ZURICH--(BUSINESS WIRE)--ABB today announced that its Turbocharging division (PA), a global leader in heavy duty turbocharging for diesel and gas engines, has unveiled its new brand name “Accelleron”, a compound word of: Access – Accelerate – Excel – on and on, with a bold new color of bright purple representing a powerful, inspirational, and noble brand.
The new brand is centered around the company's purpose: Together we inspire, innovate & exceed expectations – setting industry benchmarks for the benefit of all. It also builds on the company’s legacy of over 100 years in turbocharging, embodying the ambition to continue its development as a global market-leader in its sectors, helping the world succeed and move further in a more sustainable way. The first practical application of turbochargers, which were invented by Swiss national Alfred Büchi, was for large marine engines built by Brown Boveri & Co. (now ABB) in 1924.
The new brand is part of ABB’s portfolio management strategy to operationally separate the Turbocharging division before a final decision is made between a sale or a spin-off of the business towards the end of the first quarter. Whichever path is chosen by ABB to separate the business, this process should be completed in the first half of 2022.
“Unveiling the Accelleron brand is a seminal moment for our business. We are proud about our heritage but are also excited about our next chapter of growth, providing cutting-edge technology and service solutions for our clients,” said CEO Oliver Riemenschneider, who will be succeeded by Daniel Bischofberger on March 1, 2022, rejoining ABB from Sulzer. In the case of a spin-off, Oliver is expected to become Chairman of Accelleron.
Accelleron is a global leader in turbocharging technologies and optimization solutions for 0.5 to 80+ MW engines, helping to provide sustainable and reliable power to the marine, energy, rail, and off-highway sectors. With an installed base of approximately 180,000 turbochargers and a network of more than 100 service stations worldwide, its innovative technologies and digital solutions give its customers the power to move further.
In 2021, it achieved revenues of approximately $750 million and has over 2,300 employees worldwide, of which roughly 800 are located at its headquarter and global R&D center in Baden, Switzerland. It is a leading company in its industry and preferred partner to an estimated 6,000 customers through its global service network in more than 50 countries.
One key market driver- in Accelleron's industry is the trend towards decarbonization against the background of international and national regulations. For example, the International Maritime Organization’s goal of halving GHG emissions from ships by 2050 is driving demand for efficient and sustainable technologies. Upgrades and new net-zero carbon fuel technologies are expected to support the strategic direction of the business in the next years. Accelleron is leading in technology and commercial prototype projects with alternative fuels such as hydrogen, methanol, and ammonia.
Turbochargers enable significant improvements in efficiency, increasing engine output by up to 300 percent and thereby energy efficiency by up to 10 percent1. Conventional engines would be up to four times their size without a turbocharger2. Under ideal conditions, ABB’s turbochargers offer a further 2 percent improvement compared to the industry benchmark, amounting to $1 million in lifetime savings3 for a large container vessel.
ABB’s turbochargers reduce fuel consumption and hence CO2 emissions by an average of 405,000 tons per annum4 for the shipping industry alone, while also playing a crucial role in balancing power for national grids, power extensions in emerging economies and microgrids as well as back-up power for critical infrastructure, e.g., data centers.
More information about the Accelleron brand can be found on its new website, www.accelleron-industries.com
Important notice about forward-looking information
This press release includes forward-looking information and statements which are based on current expectations, estimates and projections about the factors that may affect our future performance, including the economic conditions of the regions and industries that are major markets for ABB. These expectations, estimates and projections are generally identifiable by statements containing words such as “anticipates”, “expects,” “believes,” “estimates,” “plans”, “targets”, “aims” or similar expressions. However, there are many risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking information and statements made in this press release and which could affect our ability to achieve any or all of our stated targets or anticipated transactions. Some important factors that could cause such differences include, among others, business risks associated with the COVID-19 pandemic, the volatile global economic environment and political conditions, costs associated with compliance activities, market acceptance of new products and services, changes in governmental regulations and currency exchange rates and such other factors as may be discussed from time to time in ABB Ltd’s filings with the U.S. Securities and Exchange Commission, including its Annual Reports on Form 20-F. Although ABB Ltd believes that its expectations reflected in any such forward-looking statement are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved. The foregoing list of factors is not exclusive and undue reliance should not be placed upon any forward-looking statements, including projections, which speak only as of the date made.
ABB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries. www.abb.com
1 Engine power is directly proportional to the amount of air that is put in the cylinder. Increasing the air density (turbocharging) increase the power output of the engine. With a pressure ratio of 4, engine output increase by 300%. Mathematical formular: Engine power Output = Revolutions per minute x Displacement X Effective pressure
2 Reference https://www.abb-conversations.com/2013/02/size-matters-sure-but-in-a-turbocharger-power-matters-more/
3 Based on average fuel price of $500 per ton
4 1 vessel with ABB turbochargers save about 562 tons CO2 per year. Total savings: 562 tons CO2 x 720 units amounts to about 404,640 tons CO2 per year
