Panasonic to Invest $1B in Cleantech by 2012

Dec 4 2009 | 11:24am 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

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...

 

FINalternatives Trending

From the current issue of