This award acknowledges companies around the world for their outstanding commitment to global innovation, the protection of ideas and the commercialization of inventions.
“This recognition is a strong endorsement. Innovation is ingrained in the DNA of ABB and a pillar of our Next Level strategy,” said ABB Chief Executive Officer Ulrich Spiesshofer. “New technologies are at the core of driving profitable growth through our strategic focus on market penetration, innovation and expansion.”
ABB announced its Next Level strategy in September 2014. The company said it will drive profitable growth through focused initiatives on market penetration, innovation and expansion (PIE).
In 2014, ABB announced technology breakthroughs including the development of YuMi, the world’s first robot for full collaboration with humans. YuMi is designed for a new era of automation where people and robots work side-by-side and where safety is built into the robot’s functionality. The YuMi robot will expand the market for robots built specifically to assemble products for the consumer electronics, computer and communications industries.
Additional ABB innovations include a high-voltage direct current (HVDC) cable that more than doubles power capacity to about 2,600 megawatts (MW). It can span distances of up to 1,500 kilometers in subsea and underground applications, making the cable ideal for efficient power delivery through densely populated or environmentally sensitive areas.
The company also announced a project utilizing the world’s first high-voltage switchgear technology that deploys a new insulation gas mixture as a substitute for sulfur hexafluoride (SF6). This breakthrough reduces the technology’s environmental footprint due to its extremely low potential to contribute to greenhouse gas releases.
ABB invests about $1.5 billion annually in research and development. The company employs some 8,500 technologists in more than 20 countries.