June 31, 2010
Hitachi to strengthen Social Innovation Business in Asian Belt Zone*1
Singapore, 31 May 2010 – Hitachi, Ltd. (NYSE:HIT/TSE:6501, “Hitachi”) announced that Hitachi and Singapore Economic Development Board (EDB) have signed a Memorandum of Understanding (MoU) to promote Hitachi’s Social Innovation Business in Asian Belt Zone through a Centre of Excellence (CoE), established in Hitachi Asia Ltd.’s Singapore headquarter on April 1, 2010. The CoE will develop advanced technology and solutions businesses related to the Social Innovation Business, such as smart grids, water treatment, security and urban transportation. Furthermore, Hitachi plans to participate in pilot projects in Singapore and other countries.
The CoE, established with the aim of providing a central base for leveraging the Hitachi Group’s collective strengths to address needs in the Social Innovation Business which spans a broad range of fields, reports directly to the president of Hitachi Asia Ltd. The CoE has a staff strength of around 20 employees.
Hitachi is bolstering its global development of Social Innovation Business, which has a strong track record and technological capabilities in advanced social infrastructure supported by sophisticated information and communication technologies. Hitachi is expanding its urban planning and development business, energy-saving solutions business based on smart grids and other businesses in the Asian Belt Zone.
In recent years, EDB has launched the Urban Solutions initiative, which is designed to address issues stemming from urbanization – such as air pollution, carbon constraints and traffic congestion. As part of this programme, new solutions are created through a co-innovation process between private corporations and Singapore-based lead demand generators in clean energy, water and the environment, built environment, infocomm technology, urban mobility, and security. Successful solutions can then be scaled up for global markets.
Hitachi also has a strategic partnership through a recently signed MoU with Sino-Singapore Tianjin Eco-City Investment and Development Co. Ltd. Based on the MoU, Hitachi will explore providing environmental solutions to Tianjin Eco-City, a project to develop an eco-friendly city in Tianjin, China. This project is a cooperative undertaking by the governments of China and Singapore.
*1: Asian Belt Zone consists of countries and areas, totalled 24, such as but not limited to China, ASEAN countries, India, Middle Eastern countries and other countries located within the territory.