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Strategic projects, acquisitions and joint ventures

In July, Wärtsilä completed the acquisition of Greensmith Energy Management Systems Inc., a market leader in grid-scale energy storage software and integrated solutions. The acquisition will enable Wärtsilä to rapidly expand its footprint in the global energy storage market, and position itself as a premier energy systems integrator.

In August, Wärtsilä and ABB signed an agreement to expand their cooperation in lifecycle service offerings. ABB granted Wärtsilä the Authorized Service Provider status for the standard maintenance of ABB turbochargers installed with Wärtsilä 4-stroke engines.

In September, Wärtsilä and Flender (Siemens AG, Mechanical Drives) reached an agreement regarding the contract manufacturing of Wärtsilä’s marine gearbox portfolio. The assembly and testing of the gearboxes will be moved to the Siemens Mechanical Drives facilities in Voerde, Germany. The design and technical specifications, as well as the delivery arrangement, project management, and interfacing with shipyards and owners will continue to be Wärtsilä’s responsibility.

Also in September, Wärtsilä added wave power technology to its capabilities as an energy systems integrator through its partnership with AW-Energy. The co-operation is based on AW-Energy’s patented and certified wave energy technology and Wärtsilä’s global project execution, services and integration capabilities.

The set-up of CSSC Wärtsilä Electrical & Automation Co Ltd, a joint venture between Wärtsilä and China State Shipbuilding Corporation (CSSC) that will focus on the growing Chinese electrical & automation market is proceeding. The business license is expected to be in place during the fourth quarter of 2017.

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