Mitsubishi Power, a major subsidiary of the Mitsubishi Heavy Industries (MHI) Group, has officially changed its corporate name from Mitsubishi Hitachi Power Systems.

The company said rebrand marks the start of a new chapter in the company’s mission to solve the foremost energy challenges of our time, including decarbonising energy and bringing reliable power to people all over the world.

The new brand identity was developed after consultation with key customers, employees and partners, said the company, which encompasses a broad spectrum of businesses in grid-level power generation, renewables, energy storage and digital technologies.

Following the rebrand, Mitsubishi Power becomes a wholly-owned subsidiary of MHI Group, which will enable it to establish greater synergies with its sister companies and expand its business by tapping new customer categories, according to the company.

Mitsubishi Power will capitalise 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.

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”.

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.”