Dear friends,
When The Switch was founded, we based our entire business idea on the fact that we wanted to help people change how they use electricity and choose how electricity is produced.
Now more than a decade later, we can see that energy consumption simply needs to become more efficient and production more distributed in order to make the big switch.
This trend of efficient and green energy is clearly evident today throughout the world. And it has only just intensified with natural disasters, such as the nuclear accident at Fukushima in 2011, and with the joint effort of nations that have rallied for a better common understanding of curbing emissions, such as the Paris Agreement.
Additionally, there are the solid economical reasons. Efficient energy makes business sense. Wind, for instance, has now become a competitive resource. In the last year of 2016 alone, the average costs of onshore wind dropped by 18%, while those for offshore wind fell a whopping 28%. Both onshore and offshore wind are now setting records lows of only EUR 0.05 cents per kWh.
With 500 GW of installed power worldwide, wind has become one of the biggest drivers for a sustainable energy source. It is also now ready for a subsidy-free future. So, the big switch is happening – and perhaps even faster than expected.
This has prompted unprecedented investments from corporations, private equity funds and other investors across the board.
As The Switch has entered into new business areas to develop advanced drive trains for sectors like marine, mining and pulp & paper, we can see that our solutions are perfect to help save wind turbines, industrial plants or marine vessels. They’re all fighting the mounting pressures of economical, environmental or other regulatory factors. And we’ve been warmly welcomed to discuss with them about our energy-efficient solutions that work.
Our vision from the start has also been to grow with our customers. All breakthroughs in technology have needed visionaries. In this respect, we have been very fortunate to have been selected by these visionaries in the various business areas where we’ve made our mark so far. These are the individuals with their eyes wide open that have, in turn, opened the doors for us. These individuals have had the courage and foresight!
Thanks to these visionaries, we have been able to deliver our solutions to advanced vacuum pumps, offshore wind drive trains and products for even more than 6,000 turbines all over the world.
Over the years, we’ve acted on our promise to help change the world.
And now that summer is here – I’d like to wish everyone a warm and relaxing break, and a great time of renewing your own personal energy for the autumn ahead.
Jukka-Pekka