DONG Energy announces company name change to Ørsted to reflect move towards renewable energy
- Credit: Archant
Leading offshore renewable energy operator DONG Energy has announced it will change its company name to reflect its move away from oil and gas towards green energy.
DONG, which was originally short for Danish Oil and Natural Gas, intends to rename the business Ørsted after innovative Danish scientist Hans Christian Ørsted who is credited with the discovery of electromagnetism in the nineteenth century.
“With our profound strategic transformation and the divestment of our upstream oil and gas business, this is no longer who we are. Therefore, it is now the right time to change our name,” said Thomas Thune Andersen, chairman of the Board of Directors at Dong, which operates six offshore wind farms around the UK including Gunfleet Sands and London Array off the coast of north Essex.
Mr Andersen added: “Our vision is a world that runs entirely on green energy. Climate change is one of the most serious challenges the world faces today, and to avoid inflicting serious harm to the global ecosystems, we need to fundamentally change the way we power the world – from black to green energy.”
Over the past decade, DONG Energy has divested its upstream oil and gas business and decided to stop all use of coal. In addition to its investments in offshore renewable, the company has also established a new storage team to explore new business opportunities in energy storage.
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Managing director for DONG Energy UK, Matthew Wright, said: “This change to our name reflects our transformation into a fully-fledged renewable energy company. Ørsted perfectly captures our roots as a business and the exciting future ahead.
“In the UK, we are leading the renewable energy transformation and our offshore wind business is part of a hugely successful and growing industry. Offshore wind is now a mainstream renewable technology in the UK, providing low-cost green energy, while creating quality jobs across the country and a thriving supply chain for businesses.
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He added: “Our world first bio energy plant in Northwich and complete energy solutions sales business also underline our position at the heart of the energy transition.”
The roll out of the new name and design is expected to take place from November 6.