The company leads the subsea systems automation market and "excels in innovating subsea systems and electrification services and provides underwater control solutions for offshore and submerged industrial systems, especially in the natural gas and oil sectors," according to Frost & Sullivan.
ABB's subsea power distribution and conversion technology decreases power consumption considerably while lowering carbon emissions and using power from the shore to save energy.
The company installs powering pumps and compressors on the seabed in locations nearer to reservoirs to facilitate power savings. The reliable subsea energy supply reaches up to 100MW of power, covers up to 600km into the sea, and reaches 3,000m of water depth in extreme conditions and high pressure.
As a result, oil and gas companies now have access to a dependable subsea energy supply for the first time. ABB's solution is like no other in the industry, in terms of reach (distance) and water depth levels, meeting the needs of specific applications and market segments. The company's CAPEX and OPEX advantages surpass those from competitors.
Maria Agustina de Sarriera, a Frost & Sullivan industry analyst, said ABB's visionary and highly innovative solutions are technology advanced within the industry.
"The company has achieved transformational growth in the automation segment via its subsea technologies," she said.
"It invested in research, design, and development over many years, in collaboration with Chevron, Equinor, and Total Energies, to develop this innovative power technology subsea system - investing about $100 million over the years."
ABB's commercial success grounded in product differentiation and exclusivity
ABB's technological experts have designed equipment that can withstand more extreme conditions than those present in space exploration. The company's subsea equipment complies with enduring reliability standards and can remain for about three decades in extreme water depths with little to no maintenance and without disintegrating.
ABB has achieved an elevated level of technology development through remarkable dedication, expertise, perseverance, and intensive collaboration with a team of about 200 scientists in a multi-year joint effort. The company's commercialisation success of its subsea services is based on its "product uniqueness and exclusivity" that come with fulfilling unmet market needs and the locations of reservoirs.
The ABB Adaptive Execution approach focuses on the integration of innovative technologies, qualified expert teams, collaborative knowledge, agile processes, and proven methodologies into a highly evolved end-to-end solution.
The ABB Ability platform minimises risk, reduces the cost of major capital projects (by up to 40%), startup work hours (by up to 40%), and schedule (by up to40%) and optimises operational efficiency. With positive future growth prospects and constant improvements and innovation, ABB will continue to experience sustainable growth in the future.
"ABB demonstrates outstanding innovation and technology development with its subsea electrification systems. The company highly differentiates itself from its competitors in the oil and gas automation industry by providing a solution to satisfy a market need not covered previously by any other company," noted Sarriera.
Frost & Sullivan presents the annual award to the company that has developed a product with innovative features and functionality that is gaining rapid acceptance in the market.
Microsoft joins Energy Efficiency Movement
The Energy Efficiency Movement has had a boost with technology giant Microsoft signing up.
Launched in March 2021 by ABB, the #energyefficiencymovement is a multi-stakeholder initiative to raise awareness and spur action to reduce energy consumption and carbon emissions to combat climate change.
Companies are invited to join the movement and make a public pledge as a way of inspiring others to take action. Microsoft represents one of the largest corporate partners to join the initiative to date.
Energy efficiency is taking on greater urgency throughout industry as companies look for opportunities to decarbonise amid soaring energy costs and pressure from customers, employees and governments to make strides on sustainability.
A recent survey commissioned by ABB found that energy efficiency is clearly top of mind for executives around the world. It revealed that 89% of industrial leaders surveyed will increase investment in the energy efficiency of their operations in the coming five years, with 54% aiming to achieve net-zero emissions in that timeframe.
“The greenest energy is the energy we never use,” said Tarak Mehta, President, Motion business area, ABB. “With 45% of the world’s electricity used to power motors in buildings and industry, improving energy efficiency is an essential strategy to fight climate change. Digitally connected energy-efficient solutions are critical to accelerating progress.”
As part of ambitious plans to decarbonise its network by 2040, Northern Powergrid, which provides power to 3.9 million homes and businesses in northern England, is piloting ABB’s eco-efficient Medium Voltage (MV) switchgear.
ABB recently announced BE Partners, a partner program designed to offer solution providers in the commercial building sector, the opportunity to join the ABB Ability Building Ecosystem to drive forward the future of sustainable and decarbonised buildings.