MHI Thermal Systems Establishes JV to Provide Technical Consulting Services to Energy Conservation Investment Projects in China

Partnership with State Grid Energy Conservation Service

- JV partner is group affiliate of China's largest power distribution and transmission company
- New entity will contribute to promotion of district energy conservation investment projects

TOKYO, Sept 5, 2019 - (JCN Newswire) - Yesterday Mitsubishi Heavy Industries Thermal Systems, Ltd., a group company of Mitsubishi Heavy Industries, Ltd. (MHI), celebrated the establishment of a joint venture (JV) with State Grid Energy Conservation Service Co., Ltd. (SGECS), a group affiliate of State Grid Corporation of China (SGCC), China's largest power distribution and transmission company, to perform technical consulting services for energy conservation investment projects in China.

The new JV, known as SGECS - MHIAS Energy Solution Service (Beijing) Co., Ltd., was established in Beijing through MHI's local subsidiary Mitsubishi Heavy Industries Air-conditioners (Shanghai) Co., Ltd. (MHIAS).

MHIAS oversees the marketing and servicing of centrifugal chillers, air-conditioners and heat pump water heaters throughout China. Under the newly concluded JV arrangement, MHIAS will provide its abundant engineering knowhow accumulated through its worldwide involvement in district cooling/heating plants, to promote energy conservation projects in China.

SGECS is a wholly owned group company of SGCC. Its comprehensive energy services portfolio includes: biomass-derived clean energy power generation; energy-saving solutions, from planning, design and consulting to actual construction; and technical consulting relating to construction of district energy stations. The area networks backed by the company's solid track record will now be incorporated into the new JV's comprehensive energy services.

Through provision of technical consulting services relating to energy solutions, the new JV will contribute to the promotion of energy conservation projects in China, energy conservation and environmental protection. In this way, the new entity will aim to carry out China's energy conservation policy as an energy solutions supplier focused on clean develop]nt.

MHI Thermal Systems, by providing high-efficiency products and products with exceptional environmental load reduction performance utilizing the natural refrigerant CO2, now coupled with the technical consulting capabilities in energy solutions of the new JV, stands to strengthen its competitive position in China's increasingly environment-conscious market. Furthermore, by promoting the widespread adoption of such products, the company will also help to curb global warming.

About Mitsubishi Heavy Industries, Ltd.

Mitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial firms. For more than 130 years, we have channeled big thinking into solutions that move the world forward - advancing the lives of everyone who shares our planet. We deliver innovative and integrated solutions across a wide range of industries, covering land, sea, sky and even space. MHI Group employs 80,000 people across 400 locations, operating in three business domains: "Power Systems," "Industry & Infrastructure," "Aircraft, Defense & Space." We have a consolidated revenue of around 40 billion U.S. Dollars. We aim to contribute to environmental sustainability while achieving global growth, using our leading-edge technologies. By bringing people and ideas together as one, we continue to pave the way to a future of shared success.

For more information, please visit MHI's website: https://www.mhi.com
For Technology, Trends and Tangents, visit MHI's new online media SPECTRA: https://spectra.mhi.com

Source: Mitsubishi Heavy Industries, Ltd.

Contact:

Joseph Hood, PR Manager
Mitsubishi Heavy Industries, Ltd.
Email: [email protected]
Tel: +81-(0)3-6716-2168
Fax: +81-(0)3-6716-5860

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