MHPS AMERICAS LAUNCHES NEW POWER & ENERGY SOLUTIONS BUSINESS Industry Leader Tom Cornell Promoted to Lead the New Power & Energy Solutions Business

LAKE MARY, FLORIDA – (March 29, 2018) Mitsubishi Hitachi Power Systems Americas (MHPS) today announced the creation of a Power & Energy Solutions business focused on delivering customer solutions in the areas of digital power, energy storage, and low carbon power generation. MHPS Vice President Tom Cornell, an industry leader with more than twenty-five years of technical and commercial experience in the global power industry, was promoted to lead this new business, effective April 1, 2018.

“As our existing power generation business continues to grow and capture market share throughout the Americas, MHPS is excited to announce this new investment in innovative technologies, new business models, digital tools, and customer partnerships to deliver solutions that take the cost and the carbon out of the entire generation, delivery, and consumption value chain of the power industry,” said Paul Browning, President and CEO of MHPS Americas. “Tom has deep roots in the power industry, and will lead a team of A-players to ensure that we’re collaborating with our customers as they negotiate the Change in Power that is underway in our industry."

MHPS’ goal with the Power & Energy Solutions business is to deliver comprehensive solutions utilizing a combination of the MHI Group's most advanced proprietary technologies, complemented with industry partnerships and customer collaborations. Headquarters for the Americas will be located in Lake Mary, Florida. The business will launch with several solutions already commercially available and with several new products and solutions in late stage development. This business will also seek partnerships with academia, technology providers, and customers to develop next generation technologies, such as:

• Expanded digital offerings from “MHPS-TOMONI™”, which uses artificial intelligence and autonomous operation to improve energy efficiency, increase operational flexibility, and predict equipment failures before they happen in any application where electricity is generated, distributed or consumed.
• Next generation battery storage technology which surpasses Lithium Ion cost effectiveness and performance
• Next generation geothermal renewable power
• Solid oxide fuel cells, which are ideal candidates for powering large data centers, commercial businesses, and other distributed power applications.
• New technologies to repower and uprate existing natural gas fired power plants to improve efficiency, lower lifecycle costs, and reduce carbon emissions, including MHPS’ newest gas turbine technologies and rapidly developing hydrogen combustion and storage technologies./li>

Vice President Tom Cornell, said, “The Power & Energy Solutions business will focus on innovation through customer collaboration, to present solutions to some of the most significant challenges that our industry is tackling today. We plan to take the cost and the carbon out of power generation, distribution and consumption.”