Wood Group, the international energy services company, today announces it has entered into a conditional agreement to sell its Well Support Division to GE for cash consideration of $2.8 billion (the “Disposal”). Following the Disposal, the Board of Directors intends that Wood Group will return cash of not less than $1.7 billion to shareholders (the “Return of Cash”). Highlights: * The price of $2.8 billion fully recognises... Read more..
Titan Energy Worldwide, Inc. a leader in the manufacturing, marketing and servicing of energy generation products and services, announced today that its subsidiary, Grove Power, Inc., has signed on to become a Power Partner distributor for MTU Onsite Energy, a member of the Tognum Group. “We are proud to be an official member of the MTU Onsite Energy team, representing their fine line of power generation products in the Florida and Caribbean... Read more..
Dresser-Rand Group Inc. announced that Dresser-Rand has made an investment in Ramgen Power Systems, LLC, and further expects to support Ramgen’s ongoing development work. Dresser-Rand’s funding will help satisfy Ramgen’s requirement with the Department of Energy’s National Energy Technology Lab to obtain private matching funds for development. Ramgen is developing game-changing compressor technology that applies proven supersonic... Read more..
Invensys Process Systems (IPS), a global technology, software and consulting firm, announced that it has been selected by Enel to supply control and automation technology for the world’s first hydrogen-fuelled power plant, to be constructed in Fusina, near Venice in the Veneto region of Italy. Enel is Italy’s largest power company with more than 50 million power and gas customers and a presence in 21 countries. The new facility, which... Read more..
LAI International, Inc., strategic supplier of precision components and sub-assemblies for original equipment manufacturers has announced it has secured contract awards for manufacturing land-based gas turbine machinery. LAI uses proprietary milling technology to process more than 1,000 of the static gas turbine components used in power generating plants for a leading original equipment manufacturer. “LAI has proven its success in manufacturing... Read more..
Turbine Truck Engines, Inc., a leader in developing environmentally friendly turbine engine technology, is very pleased to report that the company has successfully operated its full scale, fifth generation prototype engine utilizing compressed hydrogen as the fuel source. The company also reported that the test produced zero emissions and required absolutely no modification to switch the Detonation Cycle Gas Turbine Engine from propane to hydrogen.... Read more..
Global Power Equipment Group Inc. announced that it plans to release publicly audited financial statements for fiscal 2006 and 2007 and interim financial information for the first six months of 2008 by the end of November of this year. This release is part of a voluntary effort by Global Power to provide current financial information to the public on an ongoing basis. Oklahoma based Global Power Equipment Group Inc. is a leading design, engineering... Read more..
Ivara Corporation, the industry leader and innovator in asset performance management solutions, today announced that ScottishPower, a major utility company operating across the United Kingdom, selected Ivara EXP Enterprise asset performance management software to ensure the availability of the company’s generation equipment. The solution will be implemented at ScottishPower’s portfolio of Combined Cycle Gas Turbine (CCGT) and Coal Fired Generation... Read more..
EESTECH Inc., and China’s Datong Coal Mine Group, based in Shanxi Province, have signed an exclusive agreement to undertake a feasibility and project development program that will use methane and waste coal to supply power for the mining operations. The program, which will be based on EESTECH’s Hybrid Coalmine Gas Technology (HCGT), uses methane and waste coal to produce clean energy. The advantage of this process is that it not only uses... Read more..