If you’ve never heard of him you will now.
Hans Christian Ørsted was a Danish physicist who worked on electromagnetism and his name has now been taken by energy giant DONG. It will change name from November 6th.
Making the announcement today Thomas Thune Andersen, Chairman of the Board of Directors, said: “DONG was originally short for Danish Oil and Natural Gas. With our profound strategic transformation and the divestment of our upstream oil and gas business, this is no longer who we are. Therefore, it is now the right time to change our name.”
DONG has over the course of the last year sold off all its oil and gas businesses and so the change of name was not a surprise and the announcement had been expected. CEO of DONG Energy Henrik Poulsen said the new name was about reflecting the change in the company’s ethos.
He said: “It has never been more clear that it is possible to create a world that runs entirely on green energy. The time is now right for us to change our name to demonstrate that we want to help create such a world.
“Our new name recognises H.C. Ørsted’s curiosity, dedication and interest in nature and our brand identity speaks to the innovation and profound understanding of nature, which is vital to create a world that runs entirely on green energy.”
DONG said today’s announcement will not affect their financial guidance for the financial year 2017 or the announced expected investment level this year.
DONG will be exhibiting at Energy Live Expo on November 2nd. Last few tickets are available for free for end users.