Panasonic to Invest $1B in Cleantech by 2012

Dec 4 2009 | 10:24am ET

Japanese electronics giant Panasonic will invest $1 billion by 2012 into clean technologies as it shifts it focus to equipping homes and commercial buildings with solar power and energy-saving products.

Fumio OhtsuboFumio OhtsuboPanasonic President Fumio Ohtsubo told Bloomberg News that his company will both develop its own products and leverage technologies acquired through its $4.6 billion purchase – still in progress – of the solar cell and battery maker Sanyo Electric.

“We want to change our fighting ring from our current categories to a different field…Our products in consumer electronics and our appliances will benefit from the new core business,” Ohtsubo told Bloomberg.

Ohtsubo said Panasonic will develop an energy-monitoring system for homes, displaying energy consumption data from appliances on television sets.

The Sanyo deal will give Panasonic a strong foothold in cleantech – particularly lithium-ion batteries and solar cells (which Sanyo has been making for over 30 years). Moreover, Panasonic has launched its own lithium-ion battery technology for use as energy storage with rooftop solar panels.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

Compelling Opportunities In The Alternatives Space

Jul 29 2014 | 9:33am ET

In an environment where many asset classes seem expensive by historical standards...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note