Siemens Calling New Energy Company Siemens Energy

16 October 2019

Siemens announced the name of the new energy company that it is creating. The business, which combines the worlds of conventional and renewable energy and is to become an independent company in the future, will be called Siemens Energy.

The new name will officially take effect once the energy business becomes a separate legal entity, which is expected to happen in April 2020. Siemens Energy is to be spun off as a publicly listed company by September 2020. Its offerings will address a significant portion of the value chain across the oil and gas, power generation, and power transmission segments, including the related service activities, the company said. On a pro-forma basis, Siemens Energy generates about €27 billion in revenue and has some 88 000 employees worldwide as well as an order backlog of €70 billion. Today, 20% of the world’s energy supply is already based on Siemens technology, the company said.

“Climate change is real and a tremendous challenge. The demand for energy is consistently growing. At the same time, it’s imperative that we significantly reduce CO₂ emissions. With its portfolio, Siemens Energy will offer innovative and reliable solutions to enable its customers to obtain the best possible energy mix,” said Michael Sen, Co-CEO of Siemens’ Gas and Power Operating Co. and the future CEO of Siemens Energy.

Siemens kicked off the naming process for the company in June of this year. Employees, too, could make suggestions for the name.

“I think it’s fantastic that Siemens Energy was also the No. 1 name proposed by the employees,” said Sen.

“It is an exciting journey,” said Lisa Davis, Co-CEO of Siemens’ Gas and Power Operating Co. “The new Siemens Energy company will be a unique opportunity to shape the future of the world’s energy agenda.”

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