(RTTNews) - Mitsubishi Electric Corp. (MIELF.PK, MIELY.PK), on Monday, said it entered into a share transfer agreement on February 16 to wholly acquire Scibreak AB, a Swedish-based company that develops direct current circuit breakers or DCCBs.
The company stated that the two firms aim to strengthen the competitiveness of their unified business by working closely on developing DCCB technologies for high-voltage direct current or HVDC systems to support the increasing global deployment of renewable energy.
Through this acquisition, Mitsubishi Electric will utilise Scibreak's technology and know-how to lead the market commercialisation of DCCBs, strengthening its global HVDC system business and contributing to the realisation of carbon neutrality through the further spread of renewable energy.
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