ABB Approaches 60% Revenue From Eco-Friendly Technology
28 March 2019 - 11:44PM
Dow Jones News
By Dieter Holger
ABB Ltd. (ABB.SK) inched closer to achieving 60% of its revenue
from technologies that reduce greenhouse-gas emissions, it said
Thursday.
The Swiss-Swedish engineering giant earned 57% of its revenue
from eco-efficient products, solutions and services in 2018, up
slightly from 56% in 2017, as it works toward 60% by 2020,
according to the company's annual reports.
ABB's engineering is present in utilities, factories, transport
and infrastructure. One of the increasingly popular eco-friendly
products the company offers are electric-vehicle charging
stations.
The company said it received multiple orders for EV charging
stations in several countries in 2018, including for its new
fast-charging station, the Terra HP, which can add up to 200
kilometers of range to an EV in eight minutes. More than 6,500 of
the stations are currently active across 60 countries.
"The development of EV charging markets accelerated sharply
during 2018," ABB said.
ABB is set to benefit from the first European Union-specific
standards for heavy-duty vehicles that lawmakers agreed to this
February, which require trucks sold from 2025 to emit 15% less
carbon dioxide and those sold from 2030 to emit 30% less. The
European Automobile Manufacturers' Association has said EU
countries will need to roll out more charging stations to meet the
targets.
Write to Dieter Holger at dieter.holger@dowjones.com;
@dieterholger
(END) Dow Jones Newswires
March 28, 2019 08:29 ET (12:29 GMT)
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