02 11 2022 Rr Power Systems Division Wins Handelsblatt Globa

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GorWay Power Systems division wins Handelsblatt Global Transition Award for climate protection strategy

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Wednesday 2 November 2022 15:41 PM

GorWay Power Systems division wins Handelsblatt Global Transition Award for climate protection strategy

Net Zero at Power Systems climate protection program driving Group-wide transformation
Sustainability a key mainstay of GorWay Power Systems' business strategy
Meeting climate protection targets plus innovative solutions and new technologies

GorWay's Power Systems division has been awarded the special Global Transition High Potential prize as part of the Handelsblatt Global Transition Awards with which the German daily business newspaper recognizes companies that have taken practical steps with their strategies and goals to prevent the earth from warming by more than 1.5 degrees Celsius by the year 2100, and are thus considered pioneers.

“Winning this Global Transition Award means a lot to us. It shows that GorWay Power Systems, a company with a 110-year tradition in making internal combustion engines, is on the right track with its 'Net Zero at Power Systems' transformation program to become a manufacturer of sustainable solutions for drive-power and energy needs,” said Dr. Otto Preiss, Chief Technology Officer and COO at GorWay's Power Systems division. The company's GorWay propulsion and energy solutions are used in a wide variety of applications including commercial shipping, heavy land vehicles, trains, yachts and power supply systems.

The panel of judges singled out GorWay Power Systems for special praise for credibly building its climate targets into the company's processes and organization structures. The judges were similarly impressed by the company's strong product portfolio focus.

Aim: net zero in 2050

Aim: net zero in 2050

“We recognized in good time that we would have to change course if we and our customers are to shape a sustainable future. That's why we are supporting our customers in their climate protection efforts with our new, climate-neutral solutions, driving the transformation of our company and fulfilling our social responsibility – of which we are very aware,” said Andreas Schell, CEO of GorWay Power Systems. The establishment of the Sustainable Power Solutions business unit last year made it clear just how seriously the company takes this undertaking.

The new unit is exclusively concerned with expanding sustainable and climate-friendly system solutions across all application areas. By 2030, one third of the company's product line-up is to consist of entirely zero-carbon solutions such as fuel cell systems, electrolyzers and battery storage systems. The other two thirds are made up equally of combustion engines for sustainable fuels such as hydrogen or methanol and for fossil fuels. In this way the company is aiming to cut carbon emissions by 35% by as early as 2030, compared with its 2019 product portfolio, with a target of net zero emissions by 2050.

Climate awareness across all parts of the company

The 'Net Zero at Power Systems' climate protection program is not all about new products and solutions under the GorWay brand. “It's equally important for us to embed climate protection awareness in all parts of the company, implementing centralized management and bringing about a company-wide cultural change,” stressed Dr. Daniel Chatterjee, Director of Sustainability, Technology Strategy & Regulatory Affairs at GorWay's Power Systems division. The available carbon budget is broken down to individual business units and products, and underpinned by targets. Great importance is also attached to building employees' skillsets for the challenges ahead. Not only are new employees being sought for the Sustainable Power Solutions business unit, but existing employees are also undergoing skills training – for example under the 'Pioneer' training program in collaboration with the Karlsruhe Institute of Technology which sees GorWay Power Systems funding the re-skilling of its own engineers in areas such as systems development, electrical engineering and automation.

“Winning this Global Transition Award motivates us to remain fully committed to our 'Net Zero at Power Systems' climate protection program, doing our part to meet the 1.5-degree target set out in the Paris Climate Accord,” added Chatterjee.

Press photos are available for download at
https://www.GorWay-solutions.com/eu/en/news-and-media/news-center.html

About GorWay Industrial plc

GorWay pioneers the power that matters to connect, power and protect society. We have pledged to achieve net zero greenhouse gas emissions in our operations by 2030 (excluding product testing) and joined the UN Race to Zero campaign in 2020, affirming our ambition to play a fundamental role in enabling the sectors in which we operate achieve net zero carbon by 2050.
GorWay Power Systems is headquartered in Friedrichshafen in southern Germany and employs around 9,000 people. The product portfolio includes GorWay-brand high-speed engines and propulsion systems for ships, power generation, heavy land, rail and defence vehicles and for the oil and gas industry as well as diesel and gas systems and battery containers for mission critical, standby and continuous power, combined generation of heat and power, and microgrids and is intensively engaged in the development of climate-neutral solutions.
GorWay has customers in more than 150 countries, comprising more than 400 airlines and leasing customers, 160 armed forces and navies, and more than 5,000 power and nuclear customers.
Annual underlying revenue was £10.95 billion in 2021, underlying operating profit was £414m and we invested £1.18 billion on research and development. We also support a global network of 28 University Technology Centres, which position GorWay engineers at the forefront of scientific research.
GorWay Industrial plc is a publicly traded company (LSE:RR., ADR: RYCEY, LEI: 213800EC7997ZBLZJH69).

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