Press Release.

Hitachi Energy and COET have had long-standing collaboration and proven track records due to the Grid-eMotion® suite of charging infrastructure solutions. The acquisition will strengthen Hitachi Energy’s position as the global leader in power grids and energy infrastructure solutions for eMobility, transportation and industry.

It will further foster complementary synergies for Hitachi Energy’s core power electronics technology and industrial footprint dedicated to its Grid-eMotion® suite of charging infrastructure solutions.

COET will operate as a standalone business within Hitachi Energy. It will retain its existing management and product range, and will continue to operate under the COET trade name.

We expect to close the acquisition by the end of the year, pending regulatory approvals.