The Impaakt Team
7 min Read Time | April 15th 2022
Our article of the week selects the top published pieces on the Impaakt platform that week. We assess how companies impact the planet and society through their products, processes, and even their ideas—ultimately creating data and reports for financial institutes to use when decision making.
The winner this week is:
Written by: Shah
Company: ABB Group
SDG 9: Industry, Innovation and Infrastructure
Read the full article below.
Transportation accounts for ~24% of direct CO2 emissions from fuel combustion1. Since 2000, global transportation emissions have climbed by 1.9% a year, reaching 8.2B t-CO2e in 20191. Electric vehicles (EVs) are critical in achieving global climate change targets because they emit no GHGs directly2.
In 2019, the number of EVs on the road globally surpassed 7M1. With the increasing demand for EVs, the EV charger market size is expected to grow from USD3.8B in 2019 to $25.5B by 20273.
ABB is a technology company with $26.13B revenue in 20204. It is a global leader in EV charging infrastructure3. Its E-mobility business made $220M in 2020, 0.84% of its total revenue5. ABB's market share is not disclosed; however, its e-mobility 2020 revenue made 5.78% of the total global EV charger market size3.
The firm's e-mobility portfolio includes complete charging solutions, from grid to charging outlets for residential homes, apartments, commercial and industrial fleets, and heavy-duty truck and bus charging6. In 2021, ABB launched the world's fastest EV charger that delivers 100km of range in less than 3 minutes and can charge 4 EVs at once7. It fully charges any EV in up to 15 mins7, way faster than an average 8 hours12. ABB has sold 460,000 EV chargers by 20217, which accounts for 6.3% of 7.3M total chargers worldwide8. Since 2018, ABB has been working on a 10-years project with Electrify America to place chargers at every 195km interval at highways in the US9.
Additionally, ABB offers energy-efficiency solutions through its variable speed drives (reducing motor power consumption by up to 50%)11. Its variable speed drives technologies have helped 70+ companies10, including IKEA, Saneago, a Brazilian water company save 25% energy, Mirapurkhas sugar mill in Pakistan, and a South African farmer reduce its energy use by 40%10.
ABB is providing effective environmental solutions with its wide reach and broad portfolio of EV chargers and energy-efficient technologies.
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