ABB, the global power and automation technology group, has been awarded the Zayed Future Energy Prize 2014 in recognition of its efforts to drive innovation, renewable energy and energy efficiency.

"It is a great honor to have won the Zayed Future Energy Prize 2014,” said ABB Chief Executive Officer, Ulrich Spiesshofer. “ABB stands for power and productivity for a better world. This prize underlines our relentless drive for innovation to create new offerings and value propositions for our clients in the renewable energy and energy efficiency fields.”

The award in the category ‘Large Corporations’ was presented to Spiesshofer by His Highness General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces of the United Arab Emirates at a glittering awards ceremony in Abu Dhabi, the capital city of the UAE. The Zayed Future Energy Prize was launched in 2008 to recognize and reward the very best solutions in renewable energy and sustainability. It was named in honor of the late Sheikh Zayed bin Sultan Al Nahyan, who was a founder of the UAE, ruler of Abu Dhabi, and the UAE’s first president from 1971 until his death in 2004.

“This award brings with it the responsibility to spread the vision and environmental stewardship of the late Sheikh Zayed bin Sultan Al Nahyan,” Spiesshofer added. “We will ensure that ABB serves as a role model to promote the prize as an incentive to spur further innovation in sustainable energy technologies around the world. Winning this prize will strengthen our belief and make us even more determined to pursue our vision, mission and strategy towards sustainable energy and towards a sustainable future.”

ABB has a 125-year heritage of technology innovation. It pioneered HVDC (high voltage direct current) technology nearly 60 years ago, enabling large volumes of power to be transmitted over thousands of kilometers, with minimal losses and environmental impact.

This technology is being extensively deployed to bring power from remote renewable energy sources to major consumption centers. ABB has been awarded around 90 HVDC projects representing a total installed capacity of more than 95,000 megawatts (MW), which accounts for about half of the global installed base.