Hitachi Energy Acquires eks Energy to Boost Its Portfolio; Will This Make a Dent in the Market?

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By Sam Torbet | 4Q 2023 | IN-7118

Hitachi Energy announced that it had acquired eks Energy to bolster its growing portfolio to meet global demand for energy storage solutions. This move is just one example that we will see as the market moves toward energy storage to solve energy demands, and enterprises will be wise to take note of which companies are truly advancing this technology with other smart energy solutions.

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Hitachi, eks Energy, and Powin Enter into a Partnership


Hitachi Energy has acquired Spain-based eks Energy, which signals a strategic partnership with eks Energy, as well Powin (a global energy storage system provider), as it controls a significant ownership stake. This acquisition is to help grow Hitachi’s growing portfolio in advanced power electronics and energy management software and to match the global demand for energy storage. This will be a crucial point for Hitachi to expand further into energy storage and try competing with major players.

Where the Smart Energy Market Stands and Will This Be the New Norm?


The increase in smart energy demand with the solutions and emerging technology still developing results in a fragmented market with smaller regional companies covering a large part of unique solutions. However, the market is surely stabilizing as it expands, while still meeting demand through modernizing their grids to encompass renewable technology, using software and digital twins to improve efficiencies, and installing storage systems to smooth energy demands; with this stability, larger enterprises will acquire successful companies.

This acquisition by Hitachi is just one of many stories you will likely hear in the years to come as smart energy becomes more integrated with our lives and businesses. Having the larger enterprises’ recognition in a global market benefits smaller companies as they continue to grow their client base and find new projects, while the larger enterprises do not need to start from scratch when investing in new technology and can depend on the expertise the smaller companies have developed.

What to Look for the Enterprises Supplying BESS


This acquisition by Hitachi is another signal to everyone that energy storage is one of the main technologies to keep an eye on as it continues to help solve energy demands, while incorporating renewable technology. This has been seen being installed alongside utility-scale solar Photovoltaics (PV) projects. For enterprises considering Battery Energy Storage Systems (BESSs), now may be as good a time as any to invest, as the market still needs answers for likely material shortages in the future and we will need to see if skilled labor can keep up with the demand, so investing now before these problems become too big may prove worthwhile.

Tying in a BESS with other smart energy solutions will be key for larger enterprises to lead the way and secure projects. Using Artificial Intelligence (AI) technology and twin technology to increase efficiency and reduce the dependency on the batteries will show which enterprises are willing to be innovative in today’s market. Hitachi’s announcement that eks Energy will grow its energy management software capabilities is a promising sign.

These acquisitions will become more regular in the news over the years, as smart energy continues to develop and becomes more integrated in life and business. The enterprises that continue to grow their portfolios and continue to invest and implement new technology will find themselves leading the market over others and in contention to be innovators as well. While Hitachi may not be a leader in the BESS space just now, it is exhibiting enough dedication and could give other companies such as Schneider Electric, ABB, LG, and Eaton a run for their money.



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