The company cite the company’s “profound strategic transformation” away from oil and gas and towards renewables as the reason.
“DONG was originally short for Danish Oil and Natural Gas,” explained Thomas Thune Andersen, chairman of the board of directors. “With our profound strategic investment 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 Energy is now seen as a global leader in renewable energy supply. Reducing the coal used in its power stations and building major new offshore windfarms has seen CO2 emissions reduced by 52% since 2006, with an aim to reduce them by 96% by 2023.
The proposed new name references Danish scientist Hans Christian Ørsted, who spearheaded several scientific discoveries, including electromagnetism. The new name will see a new logo and brand identity for the company.
“2017 will be remembered as the year when offshore wind became cheaper than black energy [oil, coal & gas], as demonstrated by the recent tenders for offshore wind in Germany and the UK,” said Henrik Poulsen, CEO of DONG Energy. “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.”
The roll-out of the new name is scheduled to start from 6 November.
