Mitsubishi Power established with renewed commitment to transforming energy systems around the world

• The rebrand signals the next stage in the company’s journey to grow as an energy solutions provider leading the decarbonization, digitization and delivery of reliable power globally.

• As a major wholly owned subsidiary of the Mitsubishi Heavy Industries Group, Mitsubishi Power will work even more closely with its sister companies to tap new verticals and build on investments in digital solutions, hydrogen, ammonia, battery energy storage systems and solar power.

Yokohama, Japan--(Antara/Business Wire)- Mitsubishi Power, a major subsidiary of the Mitsubishi Heavy Industries (MHI) Group, officially changed its corporate name from Mitsubishi Hitachi Power Systems today. The rebrand marks the start of an exciting new chapter in the company’s mission to solve the foremost energy challenges of our time, including decarbonizing energy and bringing reliable power to people all over the world. With its new brand identity, which was developed after consultation with key customers, employees and partners, Mitsubishi Power moves forward in its ambition to become a leading energy solutions company with a broad spectrum of businesses in grid-level power generation, renewables, energy storage and digital technologies.

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Following the rebrand, Mitsubishi Power becomes a wholly owned subsidiary of MHI Group. Its enhanced position within the Group will enable it to establish greater synergies with its sister companies and expand its business by tapping new customer categories. Mitsubishi Power will capitalize on existing investments in emerging energy solutions, such as hydrogen, ammonia and solar power, to address the diverse and increasingly complex energy needs of customers around the world.

Mr. Ken Kawai, President and CEO of Mitsubishi Power, Ltd., said, “Providing people access to clean, stable, and affordable power is among global society’s most urgent mandates today. With our new identity, Mitsubishi Power is exceptionally poised to lead in solving these challenges. Building on a legacy of strong engineering and distinctive service, we will develop even more cutting-edge solutions to better serve our customers while broadening our portfolio. As an energy solutions company, we will partner more closely with governments, utilities, industry leaders and our fellow companies within the MHI Group to create a future that is good for people and the planet.”

In addition to the new name and logo, Mitsubishi Power also unveiled a new mission statement and announced that it will adopt the MHI Group tagline “Move the World Forward” (See Annex A).

Throughout its history, Mitsubishi Power has built a strong position as a trusted partner to power generation companies globally. As it enters this new phase, the company will apply its world-leading engineering prowess, drive for innovation and renowned customer service to deliver reliable energy, ultimately galvanizing the progress of nations, communities and individuals everywhere.

About Mitsubishi Power, Ltd.

Mitsubishi Power, Ltd. is a leading provider and innovator of technology and solutions for the global energy sector. Headquartered in Yokohama, Japan, it is a wholly owned subsidiary of Mitsubishi Heavy Industries, Ltd., whose engineering and manufacturing businesses span energy, infrastructure, transport, aerospace and defense. With more than 18,000 employees across 31 countries worldwide, Mitsubishi Power designs, manufactures and maintains equipment and systems that drive decarbonization and ensure delivery of reliable power around the world. Among its solutions are a wide range of gas turbines including hydrogen-fueled gas turbines, solid-oxide fuel cells (SOFCs), and air quality control systems (AQCS). Committed to providing exemplary service and working with customers to imagine the future of energy, Mitsubishi Power is also spearheading the development of the digital power plant through its suite of AI-enabled TOMONITM solutions.

For more information, please visit https://power.mhi.com.

ANNEX A: Mitsubishi Power Corporate Identity

Brand Logo and Name

The new brand logo combines the three diamonds figurative mark of Mitsubishi with the English company name. The logo font, a roundish, modern design in a gothic typeface, was adopted to present an image of the advanced, environment-friendly power generation technologies that Mitsubishi Power seeks to offer, while at the same time expresses a corporate stance of responding flexibly to societal changes.

Mission Statement

Mitsubishi Power is creating a future that works for people and the planet by developing innovative power generation technology and solutions to enable the decarbonization of energy and deliver reliable power everywhere.

Tagline

“Move the World Forward”

ANNEX B: Mitsubishi Power Corporate Information

Representative Ken Kawai, President and CEO

Global Headquarters 3-1, Minato Mirai 3-chome, Nishi-ku, Yokohama, Kanagawa, Japan

Regional Headquarters Asia Pacific: Singapore

Greater China: Shanghai

Europe, Middle East and Africa: London

Americas: Lake Mary, Florida

Number of Employees Globally 18,356 (as of April 2020)

Number of Main

Group Companies 69 companies (including 8 companies in Japan)