DONG Energy, headquartered in Denmark, has changed its name into Ørsted.
The name change comes after the company’s strategic transformation from black to green energy following a divestment of its upstream oil & gas business to INEOS.
The new name has been announced by the company’s CEO Henrik Poulsen at the meeting for DONG Energy’s employees, which took place in Denmark on Monday.
Inspiration for the name comes from the Danish physicist and chemist, Hans Christian Ørsted, who discovered the first connection between electricity and magnetism.
Ørsted’s vision will be to create a world that runs entirely on green energy, Henrik Poulsen said during the new name reveal ceremony.
According to Poulsen, the old name DONG Energy, short for Danish Oil and Natural Gas Energy, no longer reflects what company stand for, and from now on the company’s focus will be on green growth.
The name change will come into effect on October 30, 2017 following Extraordinary General Meeting (EGM).
Subsea World News Staff, Photo: DONG Energy