The offshore wind giant DONG Energy has changed its name to Ørsted, following the sale of its upstream oil and gas business to INEOS on 29 September and the decision to shift to green energy. While the acronym DONG, which stands for Dansk Olie og Naturgas (Danish Oil and Natural Gas), went in line with the company’s business in the past, the name no longer fits the renewable energy player.
The new name references the innovative Danish scientist Hans Christian Ørsted, who spearheaded several scientific discoveries, including the discovery of electromagnetism in 1820, which helped lay the scientific foundation for how today’s societies are powered.
The company is also changing its visual identity and is launching a new logo.
At a meeting for DONG Energy’s employees this morning, 2 October, CEO Henrik Poulsen announced the new name, which replaces the one associating the company with fossil fuels. “We are no longer the company we were ten years ago,” Poulsen said. He went on to highlight the company’s focus on renewable energy and the fact that the business was created and was din the era of fossil fuels.
In November 2016 , DONG Energy revealed it had decided to exit from its oil and gas business. The company announced the oil & gas unit divestment agreement with INEOS in May of this year.
Ørsted, now formerly known as DONG Energy, also decided to entirely phase out the use of coal as fuel at its power stations by 2023.
DONG (Dansk Olie og Naturgas/ Danish Oil and Natural Gas) became DONG Energy in 2006 with the merger of six Danish energy companies: DONG, Elsam, Energi E2, Nesa, Københavns Energi and Frederiksberg Forsyning. “Since DONG Energy was formed in 2006, we have changed from one of the most coal-intensive utilities in Europe to a global leader in renewable energy,” the company states on its website.
An Extraordinary General Meeting will be held on 30 October 2017 to formally decide the name change. The roll out of the new name and design across DONG Energy’s markets will begin on 6 November.