Switching on frequently 01/2017

We made it! Together.

The business environment in wind power has stabilized during the last few years. We have endured the challenging times and have turned the company back onto a profitable growth path. Another one of our target businesses now is marine, where we have been able to break into the sector with better technology even though the business cycle has been unfavorable. It seems here, too, that better times lie ahead of us.

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We’ll be attending the following events and we’d be happy to meet with you there.

Nor-Shipping Electric & Hybrid Marine World Expo
When: May 30 to June 2, 2017 June 6–8, 2017
Where: Oslo, Norway Amsterdam, Netherlands



The Switch reduces Ektank’s operational costs

April 18, 2017 – The Switch has received an order from WE Tech, a leading energy efficiency solutions provider, to deliver its permanent magnet (PM) shaft generators to two 18,600 dwt chemical tankers currently under construction for Sweden’s Ektank AB.

“We only entered the marine segment in 2013, but we have already received over 30 orders for our technology, most of them thanks to WE Tech.”
Mika Koli, Business Development Manager, The Switch.

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The Switch improves sales and profitability significantly

March 28, 2017 – The Switch, a specialist in advanced drive train technology, has seen a sharp jump in growth over last year. The company increased its net sales by 80% from EUR 40 million to more than EUR 72 million. Moreover, profitability also returned after a few previous years of losses.

“With our ambitious growth goals, we plan to hire more people in the future.”
Dag Sandås, CFO, The Switch.

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Yaskawa invests in energy storage company, Teraloop

March 22, 2017 – Yaskawa Electric Corporation has completed a strategic investment in Helsinki-based Teraloop, a startup grid- and utility-scale kinetic energy storage company. This equity investment aims to help Teraloop accelerate the steps needed to bring its patent-pending storage solution to the market within the next two years. The financing will allow the prototype to be finalized for a complete simulation in commercial working conditions.

“It is really very rewarding to see Yaskawa investing further in Finland. This is good proof that renewable energy and energy storage technologies are in line with the corporation’s growth plans.”
Jukka-Pekka Mäkinen, President and CEO, The Switch.

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The Switch Norway in Disruptive Sustainability hall

March 6, 2017 – The Switch Norway is among 7 NCE Maritime CleanTech companies to be at Nor-Shipping’s Disruptive Sustainability exhibition hall. Bostek, Corvus Energy, NorthSea Container Line, Servogear, The Switch Norway, Wärtsilä and Westcon Power & Automation will all showcase their abilities in a unique space that aims to embrace innovation, priming the industry to tackle the challenges and opportunities that lie ahead.

“They will deliver a range of memorable takeaways for the 35,000 people that visit Nor-Shipping, showcasing green hybrid and electric solutions, alongside technology that enables increased digitalization and the shift towards autonomy.”
Sofia Fürstenberg, Nor-Shipping’s Project Manager for Disruptive Sustainability, NCE Maritime CleanTech.

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The Switch powers marine growth

January 24, 2017 – The Switch is targeting growth of 200% within the marine segment in the next five years, building on the momentum of a flurry of recent orders, its acquisition of Wärtsilä Drives, and the financial muscle of its parent company, the EUR 3.3 billion turnover Yaskawa Electric Corporation.

“We believe we can make a real difference in marine – championing both enhanced efficiency, the environment and our customers’ businesses.”
Mika Koli, Business Development Manager, The Switch.

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As of March 31, our new headquarter address is:
Elimäenkatu 17 – 19
00510 Helsinki, Finland