The Thyrow converter plant will convert electricity from the public three-phase distribution network to a frequency of 16.7 Hz and feed it into the traction current network
Zurich, Switzerland, May 31 (Bernama-GLOBE NEWSWIRE) -- Hitachi Energy, the global technology and market leader in power grids, announced today that it has won an order from Deutsche Bahn to provide a 120 megawatt (MW) converter station which enables DB Energie to secure power supply for the Greater Berlin rail network. The network serves a metropolitan population of around 3.5 million people and is the hub for multiple high-speed train services to cities throughout Germany and neighboring countries. The Thyrow converter station, south of Berlin, will enable Deutsche Bahn to convert electricity from the public three-phase power distribution grid, which operates at a frequency of 50 hertz (Hz) to 16.7 Hz, and feed it into the rail power grid used to power trains and rail infrastructure. The order follows one awarded last year by Deutsche Bahn to Hitachi Energy for the 160 MW Delitz converter station in the greater Halle/Leipzig area, which will be one of the most powerful converter stations for rail power worldwide. “We are delighted that Deutsche Bahn has selected Hitachi Energy as partner of choice to secure the 16.7 Hz power supply for their rail network,” said Niklas Persson, Managing Director of Hitachi Energy’s Grid Integration business. “This is an excellent example of how we collaborate together with customers and partners to accelerate the energy transition and advancing a sustainable energy future for all.” The Hitachi Energy solution for the Thyrow converter station comprises three compact 40 MW static frequency converter modules, which use Hitachi Energy’s advanced power semiconductors to provide a steady and reliable power supply at maximum availability and with minimal electrical losses. The solution includes a 30-year service contract and a digitalization package to provide Deutsche Bahn with condition-based and reactive maintenance and data insights into the system status of the converter station over the life cycle. Hitachi Energy is the world’s leading supplier of grid integration and power quality solutions, including rail converter stations and the integration of renewable energy into power transmission systems. Notes to the Editor Static frequency converters Rail frequency converter stations are based on static frequency converters (SFC). They connect three-phase power distribution or transmission grids, which typically operate at 50 or 60 Hz, with single-phase railway power grids, which operate at 16.7, 25, 50 or 60 Hz. Besides the transfer of active power, the SFC can also control reactive power in both grids independently. It responds immediately to grid faults and enables a smooth and interruption-free transition to island mode during an outage. Power electronics SFCs are based on Hitachi Energy’s power electronics. These integrated gate-commutated thyristors (IGCTs) will be part of this solution. They maintain grid stability and power quality by responding rapidly to frequency fluctuations and grid disturbances. Power electronics are an integral part of many Hitachi Energy technologies, including high-voltage direct current (HVDC) and flexible AC transmission systems (FACTS). About Hitachi Energy Ltd. Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world’s energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 38,000 people in 90 countries and generate business volumes of approximately $10 billion USD. About Hitachi, Ltd. Hitachi drives Social Innovation Business, creating a sustainable society with data and technology. We will solve customers' and society's challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products, under the business structure of Digital Systems & Services, Green Energy & Mobility, Connective Industries and Automotive Systems. Driven by green, digital, and innovation, we aim for growth through collaboration with our customers. The company’s consolidated revenues for fiscal year 2021 (ended March 31, 2022) totaled 10,264.6 billion yen ($84,136 million USD), with 853 consolidated subsidiaries and approximately 370,000 employees worldwide. For more information on Hitachi, please visit the company's website at https://www.hitachi.com. Attachment · Rendering of the Thyrow converter station, Germany Rebecca Bleasdale Hitachi Energy Ltd. +41 78643 2613 [email protected] Source: Hitachi Energy Ltd. --BERNAMA
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Biometrically authenticated remote mobile payments reach US$1.2 trillion by 2027 - Juniper Research31/5/2022 KUALA LUMPUR, May 30 (Bernama) -- A new study from Juniper Research has found the value of biometrically authenticated remote mobile payments will reach US$1.2 trillion globally by 2027; rising from US$332 billion in 2022. (US$1 = RM4.373)
These transactions use biometrics, typically facial and fingerprint recognition, to authenticate remote mobile payments. According to a statement, this growth of 365 per cent is driven by recent regulatory changes, with the introduction of SCA (Strong Customer Authentication) pushing greater adoption. The new research, Mobile Payment Biometrics: Key Opportunities, Regional Analysis & Market Forecasts 2022-2027, identified OEM (Original Equipment Manufacturer)-Pay solutions, including Apple Pay, as a driver of mobile payment biometrics adoption. The report urged OEM-Pay vendors to use their influence over smartphone design to enhance built-in biometric systems within devices and ensure that security is maintained as new threats emerge. The SCA requirement of PSD2 (Second Payment Services Directive) has pushed financial institutions to implement biometric authentication. To meet this requirement, financial institutions have capitalised on smartphone biometric authentication capabilities; accelerating the technology’s adoption. To maintain trust and reduce fraud, financial institutions are implementing step-up authentication, where certain transactions are escalated for biometric approval based on risk scoring. Therefore, vendors must offer multiple ways to authenticate, as well as developing new techniques to keep biometrics secure. In addition, the report found that facial recognition is paving the way for greater adoption of biometrics in mobile payments, with OEM-Pay solutions leveraging the near ubiquity of facial recognition capabilities to provide frictionless checkout experiences for customers. -- BERNAMA KUALA LUMPUR, May 30 (Bernama) -- Gradiant, announced it has been recognised with distinction as ‘Water Technology Company of the Year’ and, its recently acquired AI business, Synauta, was named ‘Breakthrough Technology Company of the Year’ at the Global Water Intelligence (GWI) Global Water Awards in Madrid, Spain.
Each year, these prestigious awards recognise the most important achievements in the global water industry. The winners are selected by the global water industry’s business leaders, investors, and technologists from the private and public sectors. “It’s an honour to be recognised by our industry peers for our business growth, innovation, and technology adoption,” said CEO of Gradiant, Anurag Bajpayee in a statement. “Our expertise in digitising and optimising water has created new long-term value for our customers and competitive differentiation. We are grateful to our customers to trust Gradiant for solving their unique water challenges.” Gradiant, a global solutions provider and developer of cleantech water projects was recognised for its significant contributions to the field of water and digital technology, specifically for its Counterflow Reverse Osmosis (CFRO) technology that made membrane brine concentration a reality for industrial and municipal users worldwide. The other contribution involves global deployment of SmartOps digital platform which offers continuous optimisation of systems with variable feedwaters – one of the biggest challenges for zero and minimum liquid discharge technologies. Also including is the Pipeline of disruptive innovations resulting in more than 250 patents and applications that allow the company to address a broad range of emerging end-use applications. GWI said at the time of award: “No other company has brought more solutions to the industrial sector’s difficult water treatment challenges in the last 10 years.” Synauta, which was recently acquired by Gradiant, was awarded for its commercial breakthroughs in global water technology. Synauta optimises the performance of desalination plants through machine learning algorithms. With over 400 employees, Gradiant operates from its global headquarters in Boston, regional headquarters and global technology labs in Singapore, and offices across 10 countries. -- BERNAMA KUALA LUMPUR, May 26 (Bernama) -- Global credit rating agency, AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of ‘a-’ (Excellent) of FuSure Reinsurance Company Limited (FuSure) Hong Kong.
The outlook of these Credit Ratings (ratings) is stable, according to a statement. The ratings reflect FuSure’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). The ratings also reflect the implicit and explicit support from its ultimate parent, Tencent Holdings Limited (Tencent), including capital, business development, investment, risk management and operational support. AM Best projects FuSure’s risk-adjusted capitalisation to remain at the strongest level throughout the forecast period up to 2025, as measured by Best’s Capital Adequacy Ratio (BCAR). This result is underpinned by expected capital support from its shareholders, prudent investment strategy and retrocession support. Partially offsetting factors to the balance sheet strength include the modest size of the capital base and the projected fast-increasing underwriting leverage. As a start-up reinsurer, FuSure projects moderate net losses during the first few years of operation. Notwithstanding, the company reported a significantly smaller-than-expected net loss in 2021, attributed to its higher earned premium with more favourable claims and expense experiences. The company targets to achieve break-even by 2023 and deliver a mid-to-high single-digit return on equity by 2025. In addition, its book of business benefits from lowered underwriting volatility due to the sliding-scale commission structure of major treaties. FuSure’s investment return is projected to remain stable at low single digit over the forecast period, given that most of its invested assets are short-term investment-grade bonds. FuSure receives rating enhancement from implicit and explicit support from its ultimate parent, Tencent, which owns 85.01 per cent of shares of FuSure. FuSure is viewed as a long-term strategic investment of Tencent, which has a sizeable balance sheet, high financial flexibility and excellent credit fundamentals. The stable outlooks reflect AM Best's expectation that FuSure will maintain its solid risk-adjusted capitalisation with strong shareholder support while developing its business profile without material adverse deviation from its business plan. More details at www.ambest.com. -- BERNAMA KUALA LUMPUR, May 26 (Bernama) -- Network engineers and CIOs agree that cybersecurity issues represent the biggest risk for organisations that fail to put networks at the heart of digital-transformation plans.
According to research commissioned by Opengear, a Digi International company, 53 per cent of network engineers and 52 per cent of CIOs polled in the U.S., U.K., France, Germany, and Australia rank cybersecurity among the list of their biggest risks. The concerns are fuelled by an escalating number of cyberattacks. In fact, 61 per cent of CIOs report an increase in cybersecurity attacks/breaches from 2020-21 compared to the preceding two years. For digital transformation of networking, 70 per cent of network engineers say security is the most important focus area, and 31 per cent say network security is their biggest networking priority. CIOs also understand the importance of the issues. More than half (51 per cent) of network engineers say their CIOs have consulted them on investments to deliver digital transformation plans, the highest priority in the survey. What’s more, 41 per cent of CIOs rank cybersecurity among their organisation’s most important investment priorities over the next year, with 35 per cent stating it is among the biggest over the next five years. In both cases, cybersecurity ranks higher than any other factor. “Through the pandemic, we have seen the importance of cybersecurity skyrocket for businesses as employees switch to working remotely and cyber-criminals ramp up their activity,” said Opengear President, Gary Marks in a statement. “Forward-thinking businesses understand these challenges and the importance of investing more in security and ensuring it is woven more closely into the fabric of their networks and digital transformation efforts.” Opengear, a Digi International company, delivers secure, resilient access and automation to support critical IT infrastructure, even when the network is down. The company is headquartered in New Jersey, with R&D centres in Silicon Valley and Brisbane, Australia. For more information, visit www.opengear.com. -- BERNAMA |
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