BEMAC invests in The Switch

2023-10-30T21:56:56+00:00 October 30th, 2023|Finance|

Japanese-based electronics company, BEMAC Corp is to acquire shares in Finland’s The Switch Engineering and its group companies in partnership with Mitsui & Co.


As majority shareholder, BEMAC together with Mitsui, has entered into a share purchase agreement to acquire 100% of The Switch shares from Yaskawa Europe Holding.


The Switch is involved in MW-class permanent magnet machines (PMMs) (pictured), DC distribution solutions, high-power AC drives and high-speed induction motors, and has delivered more than 22 GW of these products primarily for wind power and marine applications.


In recent years, with a focus on achieving zero greenhouse gas emissions by around 2050 as advocated by the IMO, the demand for large-sized vessel shaft generators and propulsion motors for electric powered ships has increased.


Since delivering the world’s first megawatt-class PM shaft generator in 2015, The Switch is currently the market leader in this segment, with its machine and drives product portfolio ranging from below 1 MW to over 10 MW.


The Switch DC-Hub is an efficient and future-flexible marine electrification solution for hybrid and fully electric vessels with multiple energy sources like batteries and fuel cells.


BEMAC specialises in distribution, control and monitoring technology for marine and industrial applications and holds a market share of over 50% in the Japanese shipbuilding industry.


Mitsui has a diverse business portfolio encompassing shipping and energy development, among others.