Press release

Oriden Launched As Pittsburgh’s Newest Renewable Energy Player

Sponsored by Businesswire

Pittsburgh’s newest clean tech start-up just arrived. Oriden launched
this week, with a national unveiling at Bloomberg New Energy Finance’s
“The Future of Energy Summit” and local unveiling at Carnegie Mellon
University’s “Energy Week”. Although this start-up recently launched,
Oriden has a competitive advantage because it is fully-backed by
Mitsubishi Hitachi Power Systems, a Japanese multinational with
operations globally and regional headquarters in Lake Mary, FL.

Oriden – a play on the English word “origin” and the Japanese word
“denki” (電気) meaning ‘electricity’ – is the start of a new type of power
generation organization. Oriden fulfills multiple roles within the
renewable energy space, providing customized solutions for end-user
energy customers — including development and permitting, construction,
financing/ownership, and asset management of renewable energy projects.
The team will initially focus on distributed renewable solutions, with
an emphasis on solar PV and energy storage systems. This will include
community solar, behind-the-meter commercial & industrial customers, and
distribution level front-of-the-meter projects.

“We are excited to locally launch Oriden at Carnegie Mellon University’s
Energy Week. This week honors innovation and breakthroughs in the energy
sector, and MHPS is excited to contribute toward our industry’s ongoing
Change in Power through the launch of a new renewable energy solutions
business,” said Paul Browning, President and CEO of MHPS Americas and
Carnegie Mellon University alumnus. “In fact, CMU Energy Week 2018
played a pivotal role in our company creating a new business in the

MHPS considered multiple cities in its journey to launch a new business
focused on renewable energy solutions. Long-time MHPS employee and
Pittsburgh native, Michael Ducker (Senior Director of New Product
Solutions), had pegged Pittsburgh as a key city and regional market to
launch such a business: “Most people do not realize that Pittsburgh is
the birthplace of modern American energy. This included the nation’s
first coal mine in Coal Hill – today known as Mt. Washington, the
nation’s first commercial gas well in Murrysville, the nation’s first
nuclear power plant in Shippingport, and the world’s first oil well in
Oil City. These past milestones combined with the city’s recent strides
in promoting the next generation of energy innovations made the region a
great choice for launching our new business focused on such innovative
energy solutions.”

Ultimately, it took a meeting between Ducker and another Pittsburgh
native, Masahiro “Mas” Ogiso, at CMU Energy Week 2018 to seal the future
for Oriden and its ultimate headquarters in Pittsburgh. Ogiso, head of
the new Oriden team, noted “After learning more about MHPS’s vision and
motivation to expand into the renewable energy solutions space, I knew
this was a unique opportunity to launch a start-up, create innovative
customer solutions in a rapidly growing market segment, and all while
leveraging the wealth of experience and stability of our parent company.
Our ability to launch this business in my hometown made this opportunity
all the more rewarding.”

Oriden’s new office is currently under renovation within Pittsburgh’s
exciting North Shore and just two blocks away from PNC Park. In its
initial hiring phase, Oriden will staff up to 40 local employees to help
develop, finance, and operate renewable energy projects. Significantly
more jobs are expected as the business continues to scale-up operations.
The Oriden team is currently comprised of seasoned renewable energy
developers, financiers, and operators.