Mitsubishi Heavy Industries (MHI) has reached an agreement to acquire UK based R&D and engineering firm Artemis Intelligent Power. Through this acquisition, MHI said it aims to secure unique hydraulic power drive technology owned by Artemis.
By applying the technology to its wide range of products, including energy systems such as wind turbines and engines used for power generation as well as railroad- and ship-related products, MHI intends to achieve further product sophistication and differentiation. The initial target will be a 32GW offshore wind park project (Round 3 Project) currently being promoted by the British government. With support from the British government as well as from local business partners, MHI will develop new wind turbines incorporating Artemis's hydraulic drive technology and ramp up its entry into the offshore wind farm market. The acquisition was implemented by Mitsubishi Power Systems Europe (MPSE), an MHI subsidiary that oversees the company's power systems business in Europe.
By applying the technology to its wide range of products, including energy systems such as wind turbines and engines used for power generation as well as railroad- and ship-related products, MHI intends to achieve further product sophistication and differentiation. The initial target will be a 32GW offshore wind park project (Round 3 Project) currently being promoted by the British government. With support from the British government as well as from local business partners, MHI will develop new wind turbines incorporating Artemis's hydraulic drive technology and ramp up its entry into the offshore wind farm market. The acquisition was implemented by Mitsubishi Power Systems Europe (MPSE), an MHI subsidiary that oversees the company's power systems business in Europe.
