Siemens, which is preparing to gather its activities in the field of energy under a single roof, has announced the name of the new company it will establish. The name of the company, which will combine the fields of conventional and renewable energy and will officially enter into force in April 2020, will be Siemens Energy. The company will become an independent structure and go public as of September 2020. Siemens Energy's turnover reaches 27 billion euros, the number of employees worldwide reaches 88 thousand and the accumulation of orders reaches 70 billion euros.

German technology company Siemens announced the name of its new energy company at an in-house conference. The name of the company, which will bring together the fields of conventional and renewable energy and will become an independent structure in the future, will be called Siemens Energy. The company, whose roadmap for the upcoming period has been announced, will officially enter into force with the transformation of the energy business into a separate legal entity in April 2020. It is also planned to go public as a separate company as of September 2020.

'27 billion Euro turnover, 88 thousand employees'

The company's solutions will address a significant portion of the energy value chain, including the oil and gas, power generation and power transmission segments and their associated service activities. According to current projections, Siemens Energy's turnover reaches 27 billion euros, the number of employees worldwide reaches 88 thousand, and the order accumulation reaches 70 billion euros. Today, 20 percent of the world's energy supply is based on Siemens technology.

'It will offer innovative solutions with the best energy mix'

Michael Sen, Co-Chief Executive Officer of Siemens Gas and Power Operations Company and future CEO of Siemens Energy, said: "Climate change is a real and very big problem. Energy demand is constantly increasing. At the same time, we need to significantly reduce carbon dioxide (CO2) emissions. With its comprehensive portfolio, Siemens Energy will offer innovative and reliable solutions to enable its customers to create the best possible energy mix."

Siemens started the naming process for the company in June of this year. Michael Sen, who said that the employees also suggested names, said, "It is a great situation that the name that the employees recommend the most is Siemens Energy."

'Good opportunity to shape the future of energy'

Lisa Davis, Co-Chief Executive Officer of Siemens Gas and Power Operations, said: "This is an exciting journey. The new company Siemens Energy will offer a unique opportunity to shape the future of the world energy agenda. The Siemens Energy name will also reinforce customer trust as it clearly and concisely reveals what the company does and stands for."

Siemens AG (Berlin and Munich)

It is an international technology company that has been distinguished by excellence, innovation, quality and reliability in engineering for over 170 years. Operating worldwide, the company focuses on power generation and distribution, smart infrastructures for buildings and distributed energy systems, automation and digitalization in the process and manufacturing industries. The independently managed company Siemens Mobility is a leading supplier of intelligent transport solutions for rail and road transport and is shaping the world market for both passenger and freight transport services. With Siemens Healthineers AG and Siemens Gamesa Renewable Energy, the majority of which have been offered to the public, Siemens is one of the world's leading suppliers of environmentally friendly solutions in onshore and offshore wind energy production, as well as medical technology and digital health systems.

In the 2018 financial year ended 30 September 2018, Siemens' total turnover was EUR 83 billion and net profit of EUR 6.1 billion. As of the end of September 2018, Siemens' total number of employees worldwide was approximately 379,000. For detailed information, you can visit www.siemens.com.