Ørsted, formerly known as DONG Energy, is a Danish multinational powerhouse that has transformed from a fossil fuel giant into a global leader in renewable energy. Founded in 1972 as Dansk Naturgas (later DONG—Danish Oil and Natural Gas), the company was established by the Danish state to reduce reliance on imported oil by extracting oil and gas from the North Sea. For decades, Ørsted was synonymous with coal, oil, and gas, operating some of Europe’s most carbon-intensive power plants and accounting for a significant share of Denmark’s CO₂ emissions. The company’s pivotal shift began in the late 2000s, spurred by a failed IPO attempt during the global financial crisis and a growing awareness of climate change. In 2009, Ørsted launched its ambitious “85/15” vision, aiming to flip its energy mix from 85% fossil fuels and 15% renewables to the reverse. This marked the start of a bold reinvention: coal plants were shuttered, oil and gas assets were sold, and billions were reinvested into offshore wind, bioenergy, onshore wind, and solar power. By 2017, Ørsted completed its transformation, selling its oil and gas business and rebranding to honor Danish physicist Hans Christian Ørsted, whose discovery of electromagnetism laid the foundation for modern electricity. Today, Ørsted is the world’s leading offshore wind developer, operating projects across Europe, North America, and Asia. The company is widely recognized for its technological innovation, sustainability leadership, and impressive shareholder returns, earning accolades such as the Masters of Reinvention Award. Ørsted’s journey from black to green energy stands as a landmark case in corporate reinvention, demonstrating how visionary leadership, strategic pivoting, and technological investment can drive a successful transition in the energy sector.