Friday, 19 December 2014
Last updated 8 hours ago
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.
Panasonic 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.