This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

ABB's Direct Current Breakthrough Lands Company On MIT Technology Review's List Of Top 50 Global Innovators

Stocks in this article: ABB





CARY, N.C., Feb. 25, 2013 /PRNewswire/ -- MIT Technology Review, the official science and technology journal of the Massachusetts Institute of Technology ( MIT), named ABB (NYSE: ABB) to its 2013 list of top 50 global innovators.

ABB, the leading power and automation technology group, was cited for its recent technology breakthrough, the development of the world's first circuit breaker for high voltage direct current (HVDC). It combines very fast mechanics with power electronics, and will be capable of interrupting power flows equivalent to the output of a large power station within 5 milliseconds - that is 30 times faster than the blink of a human eye.

"ABB's historical breakthrough will make it possible to build the grid of the future and will be a big boost for renewable integration. We are proud that the MIT Technology Review acknowledges the significance of our innovation," said Prith Banerjee, Chief Technology Officer of ABB. "This new technology will make it possible to build the grid of the future. Overlay DC grids will be able to interconnect countries and continents, balance loads and reinforce the existing AC transmission networks."

The development of the Hybrid HVDC breaker has been a flagship research project for ABB, which last year invested more than $1.4 billion in R&D and employs about 8,000 researchers.

HVDC technology is needed to facilitate the long distance transfer of power from hydropower plants, the integration of offshore wind power, the development of visionary solar projects and the interconnection of different power networks. ABB pioneered HVDC nearly 60 years ago and continues to be a technology driver and market leader. With over 70 HVDC projects, ABB accounts for around half the global installed base, representing an installed capacity of more than 60,000 megawatts (MW).

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs