Schneider Electric SE - Paris-based energy management company - Will partner with UK industrial software firm Aveva Group PLC and oil-major Shell PLC for global net-zero transition in hard-to-abate sectors. Hard-to-abate sectors are those for which energy transition is less straightforward, such as heavy industry. Says collaboration will begin with focus on cement sector, aiming for 15% emissions reduction. Schneider and Aveva will contribute "contribute integrated digital engineering, operational process, and energy optimization technologies" to the collaboration. Shell will bring end-to-end sustainable energy supply solutions, global project engineering skills, as well as its large renewable portfolio.
Last Wednesday, Aveva accepted a GBP10 billion takeover offer from Schneider, its majority-owner.
Schneider current stock price: EUR114.18, down 0.2% in Paris on Monday
12-month change: down 23%
Aveva current stock price: 3,156.00 pence
12-month change: down 18%
Shell current stock price: 2,181.00, down 1.5% in London on Monday
12-month change: 37%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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