As of 6 November, DONG Energy becomes Ørsted, named after the Danish scientist Hans Christian Ørsted.
Ørsted is a renewable energy company that takes tangible action to create a world that runs entirely on green energy. Ørsted will be at the heart of the energy transition, from generation and storage, through to provision of smart energy solutions. Our aim is to develop and deploy market leading green energy solutions that benefit the planet and our customers alike, further driving down the cost of green energy. By deploying renewable energy resources at scale, we want to revolutionize the way we power people and reduce the negative effects of climate change, which are currently one of the biggest threats facing the world.
A decade ago, we initiated our transformation from a black to a green energy company. Since then, we have reduced our use of coal by 73% and more than halved our CO2 emissions. By 2023, we will be completely coal-free and will have reduced our CO2 emissions by 96%. In 2017, we divested our upstream oil & gas business, completing our transformation to become a leading pure play renewables company.
Over the past 25 years we have established our company as a global leader in offshore wind with a 25 per cent market share. We develop, construct and operate offshore wind farms in Europe, the US and Asia, and have built enough offshore wind to power 9.5 million people. By 2025, our ambition is to power 30 million people with offshore wind.
We are in process of converting all of our coal fired power stations to sustainable biomass. Another element of our bioenergy business platform is the REnescience technology, which converts household waste to energy using an enzyme treatment process.
In our downstream business, we offer state-of-the-art smart green energy solutions to our business and private customers, and work to bring more intelligence to the power grid of the Greater Copenhagen area which we develop and operate in our 100%-owned company Radius.
We are headquartered in Denmark and our shares are listed on Nasdaq Copenhagen. We employ 5,800 people who collaborate with our partners to revolutionize the way we power people through innovative energy solutions and real action.
Further information is available on www.dongenergy.com