Hitachi has signed an agreement to invest $10 million to acquire a 12 per cent holding in Envirosuite, becoming its largest single entity shareholder.
This investment price, set at $0.058 per share, reflects a 29 per cent premium over the latest closing price, highlighting Hitachi’s confidence in Envirosuite’s potential.
The collaboration between the two companies is set to drive the adoption of environmental, social, and governance (ESG) practices and net-zero initiatives within the mining industry.
Hitachi, a global leader in construction machinery, plans to leverage Envirosuite’s environmental intelligence technology to optimise environmental performance and enhance social license within mining operations.
This partnership will also utilise the digital mining solutions of Wenco International Mining Systems, a Hitachi subsidiary known for its advanced fleet management systems and safety solutions.
Hitachi vice president and chief executive officer (CEO) Eiji Fukuni said Hitachi is excited to be investing in a strategic relationship with Envirosuite.
“Their decades of experience and commitment to environmental and social responsibility while helping customers achieve their productivity goals aligns perfectly with Hitachi’s vision for ensuring a prosperous land and society for the future and contributing toward realising a safe and sustainable society,” Fukuni said.
“Envirosuite’s culture of honesty, integrity and commitment to customers and the communities we all serve is the foundation of both of our businesses.
“Through this investment, we hope to leverage Envirosuite’s solutions, data scientists’ analytical capabilities, and its findings and know-how in subscription business in order to further refine Hitachi Construction Machinery’s solutions in the mining business.”
Envirosuite CEO Jason Cooper echoed similar sentiments.
“We are thrilled to be launching into the top tier of global mining services with Hitachi Construction Machinery and their subsidiaries,” he said.
“Together, we expect to set new standards in operational management and environmental responsibility for the mining industry globally which aligns strongly with both companies’ visions for a sustainable world.
“The $10 million investment and collaboration agreement represents definitive industry validation of our technology at the highest level, and will showcase our ability to help customers achieve their productivity and ESG goals through an innovative site-wide digital solutions approach.”
The strategic relationship is expected to expand Envirosuite’s market reach, leveraging Hitachi’s global presence and Wenco’s extensive network of mining clients, ultimately advancing the industry’s progress toward lowering emissions.
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