Vestas Wind Systems AS - VWDRY stock
OTC Symbol: VWDRY | OTC Tier: Pink Limited
About[edit]
Vestas Wind Systems (OTC: VWDRY, COP: VWS) is a Danish company that specializes in the design, manufacturing, and installation of wind turbines for generating renewable energy. The company is a leading player in the global wind energy industry and has installed over 136 GW of wind turbines in more than 80 countries worldwide.[1]
Vestas offers a wide range of wind turbine models with different power ratings, rotor diameters, and hub heights to meet the needs of various wind conditions and customer requirements. The company also provides a range of services, including maintenance, upgrades, and spare parts, to ensure the optimal performance and reliability of its turbines.[2]
One of Vestas' strengths is its commitment to innovation and sustainability. The company invests heavily in research and development to improve the efficiency and performance of its turbines, reduce their environmental impact, and promote the transition to a low-carbon energy system. Vestas has also set ambitious sustainability goals, such as becoming carbon-neutral by 2030 and achieving a 50% reduction in CO2 emissions across its value chain by 2030.[3]
Vestas has a global presence with manufacturing facilities, research and development centers, and service hubs located in various countries around the world. The company has a large and diverse customer base, including utilities, independent power producers, and industrial customers.[1]
History[edit]
Vestas traces its roots all the way back to 1898 in Denmark when Hans Søren Hansen purchases the local blacksmith shop in the farming town of Lem. By 1928 his son Peder has joined the business and they have established a steel window frame called Dansk Staalvindue Industri. Although the company struggled to survive during World War II, in 1945 Peder founds Vestas and starts manufacturing household appliances. In the 1950's Vestas begins exporting farming equipment. After a fire destroys their building in 1960, the company rebuilds and rapidly grows to 100 employees. In 1968 Vestas begins exporting hydraulic cranes and ultimately ships to 65 countries.[4]
In the 1970's and 1980's Vestas begins selling and eventually mass producing wind turbines. However, by 1986, they are on the verge of bankruptcy.[4]
After surviving the financial crises in 1986 the company decides to focus on wind energy. This includes offshore windfarms as well as building some of the best wind turbines in the world. In 1998 Vestas' shares began trading on the Copenhagen Stock Exchange.[4]
- ↑ 1.0 1.1 Yahoo Finance. VWDRY Stock. Retrieved on 4/13/2023.
- ↑ RECHARGE. Big blades give edge to Vestas as Dane unveils world's largest onshore wind turbine. April 5, 2022.
- ↑ Sustain Analytics. Vestas Wind Systems. Retrieved on 4/13/2023.
- ↑ 4.0 4.1 4.2 Vestas.com. About. Retrieved on 4/13/2023.
