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Siemens’ central research department and the electric vehicle manufacturer StreetScooter agreed today to equip an electric car with an innovative electronic and software architecture. The associated technology was developed during the RACE project. Siemens is the consortium leader of the research project, which receives funding from the German Ministry of Economic Affairs and Energy. For the first time ever, the architecture will make it possible to retrofit functions such as electrical brakes and systems such as lane-keeping assistants using a plug-and-play process like on home PCs. The two companies plan to incorporate the RACE architecture into an electric delivery vehicle by December 2014. The work will be conducted at Siemens’ research center in Munich, Germany. The partnership’s aim is to test the new technology in practice for the first time.

“We think that RACE has huge potential and that it could revolutionize car design in the future,” says Prof. Armin Schnettler, who manages the project at Siemens central research department Corporate Technology. “We expect standardized hardware and flexible apps to be used in the future. This will greatly reduce development times while at the same time increasing customization — not only in the automotive industry but also elsewhere.” StreetScooter hopes RACE will help it to develop and adapt new functions for its cars quickly, flexibly, and inexpensively. “We want to be able to integrate updates and individualize pioneering developments for our customers,” says Prof. Achim Kampker, Managing Director of StreetScooter. “Our modular and adaptable concept makes us the ideal platform for the RACE technology.”

The RACE (Robust and Reliant Automotive Computing Environment for Future eCars) project aims to substantially simplify cars’ increasingly complex electronics architecture. Today a mid-range vehicle may contain over 70 different control systems that are all networked with one another. Added to this are thousands of sub-functions that run on these control systems and exchange data. In the RACE project, by contrast, cars are controlled by a centralized computing architecture. The approach is similar to the fly-by-wire systems and other technologies used in today’s airplanes. Such a uniform software architecture would enable developers to create new functions quickly and easily. In addition, software functions could be pushed out to vehicles in the same way that they are to smart phones. The functions would range from infotainment software all the way to critical safety functions such as driver assistance systems. RACE also makes autonomous driving much simpler. In addition, it enables manufacturers of especially small-batch vehicles to fulfill customer wishes quickly and flexibly.
The partners of the RACE project are Siemens AG, AVL Software and Functions GmbH, fortiss GmbH, the Fraunhofer Society, TRW Automotive, RWTH Aachen, TU Munich, and the University of Stuttgart. The approximately €20 million project was launched in 2012 and will run until the end of 2014.

For further information, please see: http://www.projekt-race.de/en/
Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the fields of industry, energy and healthcare as well as providing infrastructure solutions, primarily for cities and metropolitan areas. For over 165 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. The company is one of the world’s largest providers of environmental technologies. Around 43 percent of its total revenue stems from green products and solutions. In fiscal 2013, which ended on September 30, 2013, revenue from continuing operations totaled €75.9 billion and income from continuing operations €4.2 billion. At the end of September 2013, Siemens had around 362,000 employees worldwide on the basis of continuing operations. Further information is available on the Internet at: http://www.siemens.com.

Aachen (Germany) based StreetScooter GmbH designs, develops and produces e-vehicles for short distance travelling within urban environments. The range of models covers e-bikes, small passenger cars as well as commercial vehicles. Currently, StreetScooter focuses on e-vehicles for last mile logistic operations. Municipal providers, logistic services as well as other companies rely on StreetScooter products within their respective e-vehicle strategies. StreetScooter GmbH was established in 2010 as a spin-off from RWTH Aachen University and combines leading university know-how with industrial experience. Based on its unique development and production approach, StreetScooter was able to present within less of 18 months a new generation of e-vehicles, the Compact model, at the IAA 2011 fair in Frankfurt/Main, Germany. This model formed the basis for a customized e-vehicle solution meeting specific requirements set by Deutsche Post AG. StreetScooter has achieved various national as well as international awards and is therefore one of the leading companies within the growing e-mobility market. www.streetscooter.eu

MERIDA, MEXICO —GE’s Distributed Power business (NYSE: GE) announced today that its channel partner in Mexico, Smith Power Mexico S de RL de CV, will provide its gas engine technology to engineering, procurement and construction (EPC) contractor SEISA for Enerkin SAPI de C.V.’s (Enerkin) new combined heat-and-power (CHP) plant in Mexico. Enerkin is the first independent power producer in the state of Yucatan, and its new CHP plant in Merida, will help meet the Mexican government’s initiative for efficient cogeneration.

Enerkin is a special purpose company formed by Proteinas y Oleicos S.A. de C.V. (Proteinas y Oleicos) and other companies based in Merida. The new CHP project will use three of GE’s Jenbacher two-stage turbocharged J624 gas engine generator sets to produce 13.125 megawatts (MW) of electric power and 13,800 pounds per hour of saturated steam from the exhaust of the units. The electric power produced will be used to power the existing plants of the shareholders with the surplus energy being wheeled to the Federal Electricity Commission’s (CFE) grid. The CFE is the Mexican state-owned electric utility. The saturated steam produced from the engine exhaust will be used as process steam in the Proteinas y Oleicos manufacturing plant.

By integrating GE’s advanced gas engine technology into the Enerkin CHP plant, it will allow the stakeholders to displace purchased power from CFE and to realize significant savings through the high-cycle efficiency of the plant.

Enerkin’s new plant is the first CHP project in Mexico to feature GE’s Jenbacher J624 gas engines, and it also is the first EPC agreement between Enerkin and SEISA, a major international energy projects developer based in Monterrey.

“This project strengthens our position as a leading gas engine supplier for CHP and distributed power projects throughout the world,” said Gerardo Villavicencio, business leader, Mexico for GE’s Distributed Power business. “By integrating our high-efficiency gas engines into a CHP application, Enerkin will be able to better meet its immediate power and steam requirements.”

The plant is scheduled to begin commercial operation in May 2015. With the success of the initial phase, the potential exists for the CHP plant to be expanded with additional units.

GE Power & Water’s Distributed Power business is a leading provider of power equipment, engines and services, focused on power generation at or near the point of use. Distributed Power’s product portfolio includes GE’s aeroderivative gas turbines and reciprocating engines, which generate 100 kilowatts to 100 MW of power for numerous industries globally. Headquartered in Cincinnati, Ohio, Distributed Power employs about 5,000 people around the world.

About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company’s website at www.ge.com.

About GE Power & Water
GE Power & Water provides customers with a broad array of power generation, energy delivery and water process technologies to solve their challenges locally. Power & Water works in all areas of the energy industry including renewable resources such as wind and solar, biogas and alternative fuels; and coal, oil, natural gas and nuclear energy. The business also develops advanced technologies to help solve the world’s most complex challenges related to water availability and quality. Power & Water’s six business units include Distributed Power, Nuclear Energy, Power Generation Products, Power Generation Services, Renewable Energy and Water & Process Technologies. Headquartered in Schenectady, N.Y., Power & Water is GE’s largest industrial business.

NORWALK, Conn. — Twenty leading computer vision and imaging scientists from Xerox (NYSE: XRX) will join their peers from Google, Facebook, Microsoft Research, Amazon and many of the world’s top academic institutions later this month to share their research on making computers more “human like,” mimicking how the brain sees and thinks.

Steadily closing the gap between reality and Hollywood depictions of artificial intelligence, the annual IEEE Computer Vision/Pattern Recognition Conference set for June 23-28 in Columbus, Ohio, draws top scientists worldwide working on ways to advance computer vision, a field that empowers machines to “see” and make sense of the world, augmenting and often exceeding human capabilities.

“Xerox has firsthand knowledge of business processes across many industries, and is a pioneer in teaching computers to extract meaningful and actionable analytics from images and video,” said Raja Bala, a Xerox principal scientist in Webster, N.Y. “Although there’s been significant progress in recent years, a number of scientific challenges remain to be resolved.”

Xerox research presented at this year’s conference includes:

Detecting cell phone use by highway drivers
Motivated by its impact on public safety and property, several state and federal government organizations prohibit cell phone use while driving. Xerox scientists are working on a camera system for highways that uses pattern recognition technology to detect if a driver is using a cell phone.

Turning smartphones into a personal driving coach
Researchers in Webster are also working on a computer vision project that would turn smartphones into driving assistants. Using facial feature detection technology the phone would estimate a driver’s gaze direction, and detect if a driver is distracted and not paying attention to the road.

Making images more eye catching
Researchers from both Xerox in Europe and at Harvard University are studying what attracts people’s attention first when they look at a picture. Understanding that eye-catching element enables visuals to be composed for greater effect and can predict where people will look when facing a scene, a photo or game.

Making sense of big data in computer vision – image signatures
Images and video make up 90 percent of today’s Internet traffic. To explore and use this massive amount of data requires technology that can automatically analyze an image and create a unique ‘visual signature’ that distinguishes it from other images. The Xerox Research Centre Europe (XRCE) has invented a patented state-of-the-art methodology that creates such signatures in an extremely compact and robust fashion, beating current deep learning methods for such challenging image classification problems as recognizing the brand and model of a car.

Pigeon or dove? Designing ‘gold’ questions in complex crowdsourcing tasks
Crowdsourcing is frequently used as a forum to find individuals to label images but presents challenges when specific subject matter experts are required (such as ornithologists to identify species of birds), since such experts are rarely available on crowdsourcing platforms. To assist non-expert annotators, the Xerox research centers in Europe and India have designed a system that can do a first filter to propose a very limited number of categories to choose from. The system automatically includes ‘gold’ questions to identify untrustworthy annotators and ensure the quality of labeling.

Xerox’s leadership in computer vision
Xerox conducts computer vision research at its centers in New York and France. The Xerox Innovation Group also collaborates with the world’s top academic institutions including the University of Oxford, Harvard University, the French National Institute for Research in Computer Science (INRIA), the Massachusetts Institute of Technology, Carnegie Mellon, the University of Illinois at Urbana-Champaign, Penn State University, Notre Dame and University of Maryland.

About Xerox
Since the invention of Xerography more than 75 years ago, the people of Xerox have helped businesses simplify the way work gets done. Today, we are the global leader in business process and document management, helping organizations of any size be more efficient so they can focus on their real business. Headquartered in Norwalk, Conn., we have more than 140,000 Xerox employees and do business in more than 180 countries, providing business services, printing equipment and software for commercial and government organizations. Learn more at www.xerox.com.

MILWAUKEE, — The acquisition of Air Distribution Technologies by Johnson Controls for $1.6 billion is now complete. Johnson Controls (NYSE: JCI), a global multi-industrial company, announced in April its intention to acquire Air Distribution Technologies, one of the largest and strongest independent providers of air distribution and ventilation products in North America.

Through this transaction, Johnson Controls acquires 48 locations with over 7,000 employees that produce a broad range of air distribution products under well-known brands such as Ruskin®, Titus®, Hart & Cooley®, Krueger™, PennBarry™, Tuttle & Bailey® and others that are used in nearly every building construction project.

The acquisition reflects Johnson Controls’ stated commitment to invest in its buildings business as a growth platform. The combined companies are expected to deliver increased value for customers with world class technologies delivered through strong complementary brands and channels. The acquisition is expected to provide a solid growth platform as the company continues to expand its global market participation and invests in additional new offerings to serve these markets.

About Johnson Controls
Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 170,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and disciplined focus on operational execution, we are committed to delivering value to shareholders and making our customers successful. In 2014, Corporate Responsibility Magazine recognized Johnson Controls as the #12 company in its annual “100 Best Corporate Citizens” list. For additional information, please visit http://www.johnsoncontrols.com.

LONDON & MADRID– ACCIONA, a global infrastructure, water and renewable energy group, and Kohlberg Kravis Roberts & Co. LP (together with its affiliates, “KKR”), a leading global investment firm, today announced a partnership to consolidate and develop one of the largest operating international renewable energy portfolios in the world.

Under the agreement, KKR will invest in ACCIONA Energía International (AEI), the international renewable energy generation business of ACCIONA Energía, the Spanish multinational’s energy division. KKR is making the investment from its global infrastructure fund.

KKR is acquiring a one-third stake in AEI at a price of €417m and will help to fund future growth of the renewables portfolio. ACCIONA Energía will retain the remaining two-thirds of AEI.

AEI will hold ACCIONA Energía’s operating renewable assets outside Spain, comprising 2.3 GW in 14 countries, including US, Mexico, Australia, Italy, Portugal and South Africa, that will generate an estimated cash flow of €120m distributable to the partners. Most of the portfolio is comprised of wind farms, with a small number of solar (photovoltaic and thermal) assets.

The investment gives an implied enterprise value to AEI of €2.6bn, including €1.3bn in equity and €1.3bn in net debt, making this one the world’s largest financial transactions in the renewable energy sector to date.

ACCIONA Energía will operate AEI’s assets for 20 years under a management agreement. ACCIONA Energía will also give AEI a Right of First Offer on future renewable energy projects it develops within AEI’s operational territory. ACCIONA Energía has a strong pipeline that can be accelerated through this partnership.

The agreement is expected to be closed before the end of the year.

The intention of both partners is to promote an international IPO through a YieldCo vehicle that will hold all or part of the assets of AEI. The agreement includes an earn-out consideration of an additional purchase price up to €50m based on the outcome of YieldCo’s public offering.

Henry Kravis, co-Chairman and co-CEO of KKR, said: “This investment adds to our track record of building successful partnerships with corporates and families. I am really optimistic about the opportunity to partner with such a prominent renewable energy company and to help further develop what is already one of the largest operating renewable portfolios in the world.”

José Manuel Entrecanales Domecq, Chairman and CEO of ACCIONA, said: “We are very pleased to have KKR on board as a long-term investment partner who understands and shares our ambition to grow in the renewable energy sector. Our strategic alliance will broaden our international reach, and it will transform the scale of what we can achieve.”

Jesús Olmos, Head of KKR Infrastructure in Europe and Head of KKR’s operations in Spain, said: “Today’s announcement represents another important step in the growth and diversification of our global infrastructure platform, following earlier investments in onshore wind, solar, water utilities, district heating, locomotive leasing and parking, in Europe and the US.

Rafael Mateo, CEO of ACCIONA Energía, said: “There is a strategic rationale for this partnership because of our complementary roles, where ACCIONA brings 20 years of experience in project development and a strong technological track record.”

About KKR and KKR Global Infrastructure Fund
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners’ capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE: KKR), please visit KKR’s website at www.kkr.com.

As of June 2014, KKR had made 12 infrastructure investments in North America and Europe, including 5 investments in renewable energy related companies. Other European investments include locomotive leasing company European Locomotive Leasing in Austria and Germany, a water utility related investment South Staffordshire in the United Kingdom, the district heating operator Coriance in France, a joint venture to produce wind energy with Sorgenia in France, a stake in T-Solar’s Spanish and Italian solar parks, and parking assets owned by Saba Infraestructuras in Europe.

About ACCIONA
ACCIONA is one of Spain’s leading corporations and operates in infrastructure, renewable energy, water and services, in more than 30 countries. Its corporate motto —”Pioneers in development and sustainability”—mirrors its commitment to contribute to economic growth, social progress and care for the environment across all its activities. This commitment is recognized by ACCIONA’s inclusion in the Dow Jones (DJSI) and FTSE4Good sustainability indexes. ACCIONA is listed on the Madrid Stock Exchange’s Ibex-35 blue chip index. It has a workforce of more than 34,000 professionals and posted €6.6 billion in revenues in 2013. www.acciona.com

The Board of Directors of Alstom received, on June 20, 2014, an update to the offer from General Electric (GE) to acquire the power and grid businesses of Alstom. It also received on June 20, 2014, a revised proposal from Siemens and Mitsubishi Heavy Industries.

The ad hoc committee of independent directors appointed by the Board on April 29, 2014 and led by Jean-Martin Folz, thoroughly reviewed, on multiple occasions, the proposed transactions. Based on the works of the committee and financial and legal advisors, the Board of Directors has unanimously decided to issue a positive recommendation of the offer from GE.

The Directors of Alstom expressed their satisfaction that the productive exchanges established with the French State had resulted in a business proposal that not only addresses the interests of Alstom and of its stakeholders, but also provides assurances in connection with concerns expressed by the French State.

GENERAL ELECTRIC OFFER
GE would acquire, as previously announced, the Thermal Power, Renewable Power and Grid Sectors, as well as corporate and shared services (the Energy Transaction) for a fixed and unchanged price representing an Equity Value of €12.35bn and an Enterprise Value of €11.4bn.

Under the terms of the updated offer, following completion of the Energy Transaction, Alstom and GE would establish joint ventures in Grid and Renewable Power.

In Grid, each company would hold a 50% stake in a global business combining Alstom Grid and GE Digital Energy. In Renewables, each company would hold a 50% stake in Alstom’s Off-shore Wind and Hydro businesses.

In addition, Alstom and GE would create a 50/50 Global Nuclear and French Steam alliance, which would include the production and servicing of the “Arabelle” steam turbine equipment for nuclear power plants, as well as Alstom’s steam turbine equipment and servicing for applications in France. In addition, the French State would hold a preferred share giving it veto and other governance rights over issues relating to security and nuclear plant technology in France.

The investment by Alstom in these Energy related alliances represents ca. €2.5bn, assuming these companies are debt-free, cash-free. The terms of these alliances include usual shareholders agreements with standard governance and liquidity rights.

Finally, GE proposes the creation of a global alliance in which GE would sell Alstom 100% of its signaling business, with sales of ca. US$500m in 2013 and 1,200 employees, and the companies would sign multiple collaboration agreements including a service agreement for GE locomotives outside of the United States, R&D, sourcing and manufacturing and commercial support in the United States.

The ad hoc committee of independent directors reviewed the transaction proposed by GE with the assistance of its financial and legal advisors. The financial expert appointed to advise the Board has concluded that the financial consideration offered by GE to Alstom is fair from a financial point of view. The legal advisor appointed to advise the Board has concluded that GE’s offer appears, from a legal point of view, favorable to the company, particularly in light of the fact that it provides for a fixed and final purchase price, does not require representations and warranties and, with the updates proposed by GE, addresses adequately the French State’s concerns. The Board, acknowledging unanimously the strategic and industrial merits of this offer, has decided to issue a positive recommendation of this offer, authorizing Mr. Patrick Kron, in his capacity of Chief Executive Officer of Alstom, to engage in the next step of the process, with the information and consultation of the competent works councils within the Alstom group.

SIEMENS AND MITSUBISHI HEAVY INDUSTRIES PROPOSAL
Further, the Board of Directors, with the assistance of the ad hoc committee and its legal and financial advisors, reviewed the proposal received from Siemens and Mitsubishi Heavy Industries, as presented to the ad hoc committee on June 16, 2014, and its improved proposal received on June 20, 2014.

Under the terms of the improved proposal, Siemens would acquire Alstom’s gas business for an equity consideration of €4.3bn, a €400m improvement versus the initial proposal. MHI would buy a 40 percent equity stake in the combined steam, grid and hydro business of Alstom through one single holding company, for a consideration of €3.9bn. In addition, Siemens would offer to enter into an up to 50/50 Joint Venture with Alstom in Signaling and Mobility Infrastructure.

After review, the Board has unanimously determined that this proposal does not adequately address the interests of Alstom and of its stakeholders.

NEXT STEPS
Completion of the GE transaction will be subject to works council consultation and merger control and other regulatory clearances, including French Foreign Investment authorisation. In accordance with the AFEP-Medef code, the final approval of the transaction will be submitted to the shareholders.

Should this offer be approved and completed, Alstom would refocus on its fully owned Transport activities and on its Energy alliances with GE. Alstom would use the proceeds of this transaction to strengthen its Transport business, to invest in its Energy alliances, to pay down its debt and return cash to its shareholders.

Patrick Kron, Chairman and CEO of Alstom, commented: “The combination of the very complementary Energy businesses of Alstom and GE would create a stronger entity, best placed to serve customers globally and invest in people and technology over the long run. Alstom would be associated to this ambitious combination through the Energy alliances. Alstom Transport, a solid leader with a large portfolio of technologies and a worldwide presence in a dynamic market, would be further strengthened through the acquisition of GE’s signaling business as well as a far-reaching rail alliance with GE.”

This news is courtesy of www.alstorm.com

NEWARK, NJ – Energy Investors Funds (“EIF”), an energy-focused private equity firm, announced today that two EIF-managed funds have indirectly acquired an additional 50 percent ownership stake in the Newark Energy Center from Hess Corporation (NYSE: HES) using a $590 million loan from Crédit Agricole Corporate and Investment Bank, GE unit (NYSE: GE) GE Energy Financial Services and Mitsubishi UFJ Financial Group (MUFG).

EIF-NEC, LLC, an entity jointly owned by the two EIF-managed funds, will use the loan to support the acquisition, construction and operation of the 705-megawatt power plant, which is being built using GE’s advanced combined-cycle, natural gas-fired turbine technology. With this acquisition, EIF-NEC now holds 100% of the equity interests in the Newark Energy Center. The three lenders served as co-lead arrangers and joint-book runners. Financial details of the transactions were not disclosed.

The Newark Energy Center sits on 23 acres of brownfield industrial land in New Jersey, an optimal location with nearby gas supply and electrical interconnection point. The project has been under construction for nearly two years and is expected to begin commercial operations in May 2015. It will sell its energy and capacity into the PJM capacity market. Power Plant Management Services is managing construction, with NAES Corporation providing operations and maintenance and Direct Energy undertaking additional energy management services.

“We’re excited to consolidate our ownership of the Newark Energy Center and are pleased to work with three longtime relationship banks on the financing of such a critical new generation resource,” said Keith Derman, a partner at EIF. “This project will provide the PJM market with a reliable new source of efficient and environmentally friendly capacity.”

Jim Guidera, managing director and head of energy and infrastructure group for North America at Credit Agricole CIB added, “Concluding the financing for EIF’s latest capacity addition to the PJM power market was a success for our project finance team, and continues our well-established relationship with EIF.”
Carl Peterson, a managing director and leader of debt origination at GE Energy Financial Services, noted that this is the sixth thermal debt investment his group has led in the last year, with a total project capacity exceeding 3,000 megawatts.

“The Newark Energy Center highlights GE’s ability to combine technology and financial structuring expertise to provide unique solutions that meet our customers’ needs,” said Peterson.
“We are thrilled that we could deliver the right financing solution and combine it with a structure attractive to the debt markets,” said Jonathan Lindenberg, head of project finance for the Americas at MUFG.

The Newark Energy Center will operate as one of the cleanest gas-fired power plants in the United States, using two GE 7F.05 Gas Turbines and one GE D400 Steam Turbine, and features advanced emissions control technology. The 7F.05 Gas Turbine can start up quickly to produce power with reduced start-up emissions, helping to enable the integration of renewable energy. The plant will provide more efficient, flexible and reliable power, helping to reduce the region’s reliance on older, less efficient power generation plants. GE will also service the equipment through a long-term contractual service agreement.

Producing enough electricity to power approximately 700,000 homes, the project employs more than 700 construction workers and generates tax revenues for the city of Newark.
For more details, visit: www.newarkenergycenter.com

About Energy Investors Funds
EIF was founded in 1987 as one of the first private equity fund managers focused on the independent power industry. EIF’s investment strategy is to create diversified portfolios of energy infrastructure-related assets across the power generation, transmission, and midstream sectors that are expected to provide superior risk-adjusted equity returns with current cash flow and capital appreciation. EIF has raised over $5 billion in equity capital and currently manages multiple private equity funds from its offices in Boston, New York, and San Francisco. For more information, visit www.eif.com.

About Crédit Agricole CIB
Credit Agricole CIB is the Corporate and Investment Banking arm of the Crédit Agricole Group, the world’s fifth largest bank by total assets. The Bank provides support to clients in large international markets through its network with a presence in major countries in Europe, the Americas, Asia and the Middle East. For more information, please visit www.ca-cib.com.

About GE Energy Financial Services
GE Energy Financial Services—GE’s energy investing business—works as a builder, not just a banker, to help meet the world’s power and fuel needs. We offer more than money—expertise—for essential, long-lived and capital-intensive power, oil and gas infrastructure—GE’s core business. Drawing on GE’s energy technical know-how, financial strength and risk management, we see value where others don’t and take on our customers’ toughest challenges with flexible equity and debt transaction structures. Based in Stamford, Connecticut, GE Energy Financial Services holds approximately $16 billion in assets. More information: www.geenergyfinancialservices.com. Follow GE Energy Financial Services on Twitter: @GEEnergyFinServ

About MUFG
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. MUFG’s services include commercial and investment banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The group’s operating companies include The Bank of Tokyo Mitsubishi UFJ, Ltd.(BTMU) and its subsidiary Union Bank. N.A., Mitsubishi UFJ Trust and Banking Corporation (Japan’s leading trust bank), and Mitsubishi UFJ Securities Holdings Co., Ltd., one of Japan’s largest securities firms. MUFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: MTU) stock exchanges.

This news is courtesy of www.ge.com

MARKHAM, ONTARIO —When it comes to the modern grid, timing is everything. Without accurate and reliable time synchronization, grid-connected devices such as automatic-control and system-protection equipment could be at risk for frequency errors. If an unexpected outage does occur, inaccurate time stamps also can make it difficult for grid operators to identify the sequence of events that led to the outage, potentially extending the time it takes utilities to recover from and prevent future occurrences.

Understanding how critical accurate time is to sustaining a reliable grid, GE’s Digital Energy business (NYSE: GE) announced its new small form factor GPS (global positioning system) clock that provides accurate 1588/C37.238 time synchronization over an Ethernet network. Packaged in a small form factor with a universal power supply for utility substations and industrial SCADA applications, the MultiSync 100 1588 GPS Clock allows modern grid assets—including wide-area protection, monitoring and control devices—to operate at an optimal level for a secure, continuous flow of power.

GE’s Digital Energy business is the first protective-relay company to have a complete 1588-capable solution for time synchronization of protection and substation-automation control devices. A dedicated, network-based time protocol, IEEE 1588 provides accurate time synchronization over packet-based communications networks, better time synchronization across the power system and has a lower cost of installation versus traditional methods.

“The MultiSync 100 1588 GPS Clock fills an important need for our electric utility, telecommunications, transportation, oil and gas and power industry customers that needed a smaller, more-efficient and cost-effective solution to comply with new IEEE time synchronization standards,” said Juan Macias, general manager of grid automation, GE’s Digital Energy business. “As the first small form factor GPS clock with a universal power supply, it also provides vast performance improvements over traditional time-synchronization methods, making it an ideal addition for time-sensitive applications such as protection, control and wide-area monitoring.”

GE’s new GPS clock features an affordable end-to-end time synchronization solution for protective relays that reduces the cost of time synchronization by eliminating the need to run a separate analog network. It’s also critical for synchrophasor applications, which measure the electrical waves on an electricity power grid using a common time source for synchronization. This allows for real-time measurements of multiple remote measurement points on the grid.

Providing a complete 1588/C37.238 time synchronization solution for ML3000 Ethernet switches, universal relays and the 8-Series relay family, GE’s MultiSync 100 1588 GPS Clock is compact in size (45 millimeters by 110 millimeters by 155 millimeters) and is intended for DIN-rail mounting to ease installation and is hardened for utility substation applications.

GE’s Digital Energy business is a global leader in protection and control, communications, power sensing and power quality solutions. Its products and services increase the reliability of electrical power networks and critical equipment for utility, industrial and large commercial customers. From protecting and optimizing assets such as generators, transmission lines and motors, to ensuring secure wireless data transmission and providing uninterruptible power, GE’s Digital Energy business delivers industry-leading technologies to solve the unique challenges of each customer. For more information, visit http://www.gedigitalenergy.com.

About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company’s website at www.ge.com.

SCHENECTADY, N.Y.—The government of Equatorial Guinea has selected MAECI Solar, a division of Management and Economic Consulting, Inc., in collaboration with GE Power & Water (NYSE: GE) and Princeton Power Systems, Inc., to install a 5-megawatt (MW) solar microgrid system on Annobon Province, an island off Equatorial Guinea in west central Africa. The solar microgrid will feature 5-MW solar modules and system integration by MAECI, an energy management system and controls from Princeton Power Systems and energy storage from GE. The island-wide microgrid will provide reliable, predictable power, supply enough electricity to handle 100 percent of the island’s current energy demand and be the largest self-sufficient solar project on the continent of Africa.

“MAECI is fortunate to have witnessed firsthand the development of Equatorial Guinea over the past few years,” said Chris Massaro, senior vice president, MAECI. “We are extremely excited to bring this solar microgrid solution to Annobon Island as well as support President Obiang Nguema’s vision to raise the quality of life for the people and bring economic diversification to Equatorial Guinea. This project brings both. The Annobon Electrification Project will be the platform for economic growth on the island by bringing a much needed power supply that will enable the development of multiple industries, add 700 to 1,000 direct and indirect jobs to Annobon Island and significantly raise the standard of living.”

Annobon Province has a population of approximately 5,000 residents. Today, the residents have reliable electricity for up to five hours per day and spend an average of 15-20 percent of their income on supplemental power. The solar microgrid in development will eliminate this expense entirely and provide reliable electricity 24 hours a day, seven days a week. The project is a part of Equatorial Guinea’s National Economic Development Plan Horizon 2020, which aims to make Equatorial Guinea an “emerging economy” and accelerate its development and democratization by 2020.

“We’re excited to be a part of this historic project for Annobon Province and Equatorial Guinea,” said Jeff Wyatt, general manager of GE’s solar and energy storage business. “GE’s energy storage technology will help enable reliable, predictable power for the residents of Annobon through balancing the real-time supply and demand of solar and withstanding extreme heat environments without the need for air conditioning. This is an ideal technology for microgrids like Annobon Island.”

The Annobon microgrid is enabled by the Princeton Power Systems’ BIGI-250 energy management platform, the world’s first three-port industrial-scale solar energy management system, with UL listing and thousands of operating hours in commercial applications since 2012. Princeton Power Systems has extensive prior experience working with GE’s energy storage team. GE’s batteries, in addition to providing superior high temperature performance and improved safety, offer environmental responsibility with non-toxic and recyclable materials and worldwide support.

“Today, over 1 billion people are without power. We are taking our experience in microgrids from Alcatraz Island, the U.S. Department of Defense and private sector customers to now apply it to improving quality of life for people in rural areas where grid power does not exist or is not reliable,” said Ken McCauley, president and CEO, Princeton Power Systems. “We look forward to future global projects across the world to provide power to these areas to have hospitals, lighting and other basic human needs.”

About Princeton Power Systems

Princeton Power Systems, based in New Jersey and founded in 2001, designs and manufactures state-of-the-art technology solutions for energy management, microgrid operations and electric vehicle charging. The company is a global leader working with customers and partners across North America, Europe, Africa and the Caribbean. It manufactures UL and CE-certified power electronics that are used in advanced battery operations and alternative energy, with built-in smart functions for ancillary services. The company solves power issues to allow continued growth of distributed renewable energy by providing energy storage solutions that are proven to work, even in harsh environments. Princeton Power Systems builds integrated systems and designs, commissions and operates microgrids for leading organizations, including Fortune 500 automakers and industrials and non-profit organizations. The company proudly manufactures its products in the United States. More information about Princeton Power Systems is available at www.princetonpower.com.

About MAECI
MAECI is an international consulting and project implementation firm that has formed very successful project partnerships, both as lead firm and as sub-consultant, with government ministries and departments, universities and colleges, non-governmental organizations and private sector companies more specifically in developing and emerging countries with strong emphasis in Western Central Africa and completed projects totaling in excess of $1 billion.

About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company’s website at www.ge.com.

About GE Power & Water
GE Power & Water provides customers with a broad array of power generation, energy delivery and water process technologies to solve their challenges locally. Power & Water works in all areas of the energy industry including renewable resources such as wind and solar; biogas and alternative fuels; and coal, oil, natural gas and nuclear energy. The business also develops advanced technologies to help solve the world’s most complex challenges related to water availability and quality. Power & Water’s six business units include Distributed Power, Nuclear Energy, Power Generation Products, Power Generation Services, Renewable Energy and Water & Process Technologies. Headquartered in Schenectady, N.Y., Power & Water is GE’s largest industrial business.

The Energy Department today announced $10 million for six new research and development projects that will advance innovative concentrating solar power (CSP) technologies. The projects will develop thermochemical energy storage systems to enable more efficient storage of solar energy while using less storage material, cutting the cost for utility-scale CSP electricity generation as a result. Also today, the Department released a new report highlighting the progress of five major CSP deployment projects that are already producing clean, renewable energy.

“By improving energy storage technologies for concentrating solar power systems, we can enhance our ability to provide clean and reliable solar power, even when the sun is not shining,” said Energy Secretary Ernest Moniz.

Concentrating solar power technologies use mirrors to focus and concentrate sunlight onto a receiver from which a heat transfer fluid carries the intense thermal energy to a power block to generate electricity. The research and development projects announced today will explore and develop novel thermochemical energy storage systems, which could store the sun’s energy at high densities and temperatures in the form of chemical bonds. The chemical compounds used to store the chemical energy are later broken down to release energy when needed. Six teams from universities, national laboratories and research institutes, working with industrial partners, will test different chemical processes for CSP thermochemical energy storage that could further advance CSP technology, helping the industry step closer to meeting the SunShot Initiative’s technical and cost targets for CSP and moving the U.S. toward its clean energy future.

The Energy Department’s report, “2014: The Year of Concentrating Solar Power,” focuses on five of the most innovative CSP plants in the world that, in 2014, are expected to be fully operational in the southwestern U.S. as a result of sustained, long-term investments by the Administration and committed solar industry partners. When completed, these projects will provide a combined 1.26 GW of electricity, nearly quadrupling the preexisting CSP capacity in the United States with the potential to power more than 350,000 average American homes. In addition, the five CSP projects illustrate how loan guarantees provided by the Energy Department encouraged private market investment and accelerated the deployment of these technologies at commercial scale.

Broadly, these new Energy Department investments will advance solar energy technologies—driving down costs to make solar more affordable. Learn how the SunShot Initiative is working to develop innovative CSP technologies and make solar energy fully cost competitive with traditional forms of electricity by the end of the decade. For more information on the work of the Loan Programs Office to support the deployment of clean energy technologies, including CSP, at commercial scale, please visit http://energy.gov/lpo/loan-programs-office.

JENBACH, AUSTRIA—GE Power & Water’s Distributed Power business (NYSE: GE) today announced Clarke Energy, GE’s Jenbacher gas engine authorized distributor for Australia, has been selected to supply Australia Pacific LNG with 19 new Jenbacher J620 gas engines for two on-site power projects in rural Queensland. The 3-megawatt (MW) gas engines will be used to generate a total of 57 MW of reliable electricity at two coal seam gas (CSG) processing facilities currently under construction. Australia Pacific LNG is an incorporated joint venture between Origin Energy, ConocoPhillips and Sinopec.

The first project at the Reedy Creek coal seam gas processing facility is an expansion of an existing 30 MW on-site power station installed in 2013 with 10 additional high-efficiency Jenbacher J620 gas engines, doubling the size of the plant to 20 units (60 MW). For the second project, Clarke Energy will supply the remaining nine Jenbacher J620 units for a temporary, 27-MW on-site power plant that will generate reliable electricity for the Eurombah Creek coal seam gas processing facility. Both projects will be owned, operated and maintained by Clarke Energy, with further support available from Clarke Energy’s network of field service technicians and staff already located at nearby sites.

After the two new power projects are completed, Australia Pacific LNG will have an installed fleet of 29 Jenbacher gas engines capable of producing a total of about 87 MW of power to support coal seam gas processing activities.

Clarke Energy was awarded the Eurombah Creek and Reedy Creek projects under a temporary power services agreement. The rental agreement calls for Clarke Energy to design and construct a fully operational temporary power station featuring the nine Jenbacher gas engines that will generate 27 MW at Eurombah Creek and 10 units generating 30 MW at Reedy Creek. The agreement is designed to provide the facilities with a constant power supply, using locally extracted coal seam gas, until permanent electrical infrastructure can be installed.

“Our on-site power plant projects showcase an important growth segment for Distributed Power as the country continues to develop its coal seam gas and offshore natural gas reserves to become an important alternative LNG supplier for Asia and other regions of the world,” said Lorraine Bolsinger, president and CEO of GE’s Distributed Power business. “Clarke Energy is playing a central role in driving GE’s strategic growth in this region by rapidly developing new business opportunities while offering excellent life cycle services for our customers.”

Bolsinger noted that in addition to gas engines, GE also is seeing a strong demand for other power, water filtration and oil and gas production technologies and services in Australia as the country further develops its land-based and offshore energy infrastructure.

“Clarke Energy is delighted to be working on the Reedy Creek and Eurombah Creek on-site power plant projects. With the deployment of this additional 57 MW of gas engine-generated electricity, we are supporting the development of coal seam gas processing facilities in Queensland,” Clarke Energy Managing Director Greg Columbus said.

Both new power facilities will use Clarke Energy’s modular power station concept in which each gas engine generation set is housed in an individual enclosure. This concept, which has been proven to be successful at 12 other sites in Australia since 2006, incorporates many features to facilitate safer operation and maintenance. It also demonstrates a reliable performance under Australian outback conditions, including incorporation of Australian Standards, local legislation requirements and oil and gas industry best practices.

Clarke Energy has extensive experience in the engineering, installation and maintenance of gas generation facilities operating on coal seam gas and other gases derived from new and developing coal mines, including existing waste coal mine gas. Currently more than 120 Jenbacher gas engines have been installed to operate on coal seam and coal mine gas to generate a combined 280 MW of on-site power.

GE Power & Water’s Distributed Power is a leading provider of power equipment, engines and services, focused on power generation at or near the point of use. Distributed Power’s product portfolio includes GE’s aeroderivative gas turbines and Jenbacher and Waukesha gas engines, which generate 100 kilowatts to 100 MW of power for numerous industries globally. Headquartered in Cincinnati, Ohio, Distributed Power employs about 5,000 people around the world.

About Clarke Energy
Clarke Energy is a leader in the engineering design, installation and long-term maintenance of gas engine-based power plants. The company is the authorised distributor and service provider for GE’s Jenbacher gas engines in 16 countries. Clarke Energy employs over 900 staff and has over 3,800 MW of Jenbacher generation equipment installed in its operational areas.

Connect with Clarke Energy
www.clarke-energy.com
www.linkedin.com/company/clarke-energy
www.twitter.com/ClarkeEnergy
www.facebook.com/ClarkeEnergy

About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company’s website at www.ge.com.

About GE Power & Water
GE Power & Water provides customers with a broad array of power generation, energy delivery and water process technologies to solve their challenges locally. Power & Water works in all areas of the energy industry including renewable resources such as wind and solar, biogas and alternative fuels; and coal, oil, natural gas and nuclear energy. The business also develops advanced technologies to help solve the world’s most complex challenges related to water availability and quality. Power & Water’s six business units include Distributed Power, Nuclear Energy, Power Generation Products, Power Generation Services, Renewable Energy and Water & Process Technologies. Headquartered in Schenectady, N.Y., Power & Water is GE’s largest industrial business.

Today, Germany’s Minister of Economics and Technology, Sigmar Gabriel, together with representatives of power utility Stadtwerke Mainz AG, Siemens AG, The Linde Group and RheinMain University of Applied Sciences, gave the starting signal for the construction of the Energiepark Mainz. From 2015 on the energy storage project, which is receiving financial support from the ministry, could make an important contribution to the success of the energy turnaround in Germany, said Mr Gabriel during the foundation stone ceremony in the state capital of Rhineland-Palatinate.

Starting next year, the jointly developed pilot plant will produce major quantities of hydrogen using electricity from renewable sources, mostly from nearby wind power stations. This hydrogen can be stored, loaded into tank trailers or fed directly into the natural gas grid, for use in generating heat or electricity. This makes it possible to store electricity from renewable energy sources. The growing network of hydrogen filling stations for emission-free fuel cell-powered vehicles can also be supplied from Mainz by tank trailers.

“Innovations and state-of-the-art energy technologies are the keys to the energy supply of the future. Therefore, we must firmly establish and develop energy-related research as a strategic element of our energy policy,” said Mr Gabriel. “Today, we are firing the starter’s gun for an innovative storage technology that might well become an important building block of the German energy turnaround. More projects like this one are needed to leverage new energy technologies even stronger.”

The project’s aim is to further develop and test innovative technologies for hydrogen electrolysis using renewable energy sources. Already today, wind and solar power stations have to be switched off at times due to insufficient capacity of the energy grid. This will probably happen even more often in the future. At the new energy park, however, this “surplus” sustainable electricity can be stored and used later, according to the actual power demand. This is achieved by splitting water into hydrogen and oxygen. In this way, renewable energy becomes more flexible and will be available exactly when it’s needed.

Around 17 million euros are being invested to realize the energy park, with support coming from the Federal Ministry of Economics and Technology as part of its “Energy Storage Funding Initiative”. “We as a power utility are increasingly concerned with security of supply. But since wind does not always blow and sun does not always shine when we would like them to, more storage capacity is essential to bring forward the energy turnaround,” explained Dr Werner Sticksel and Detlev Höhne, Members of the Executive Board of Stadtwerke Mainz.

At the heart of the research facility will be the electrolysis hall, featuring a hydrogen electrolysis system developed by Siemens. The principle of electrolysis has been tried and tested over a number of decades. What makes the Mainz plant stand out compared to other, smaller pilot projects is its potential power intake of 6 megawatts, making it the world’s largest hydrogen electrolysis facility using modern PEM technology. This puts the plant in Mainz in an appropriate performance category to ease bottlenecks in the distribution network.

To Professor Siegfried Russwurm, Member of the Executive Board of Siemens AG, the construction of the research plant means an important step towards the realization of a sustainable, industrial-grade hydrogen economy: “In order to shape the future of energy and business in Germany, political framework setting as well as sustainable research have to be on top of the agenda. With the PEM electrolysis that is used here, Siemens is offering a promising technology to turn the hydrogen vision into reality. We are extremely grateful to be part of this project. Stadtwerke Mainz proves to be both courageous and far-sighted by betting on water electrolysis as a part of tomorrow’s power economy.”

“As a leading supplier of hydrogen plants we have since many years been working on the development of this environmentally friendly energy carrier,” said Olaf Reckenhofer, responsible for Linde’s gases business in central Europe. “What makes this energy park so special is that the partners are going to realize a pilot project in an unmatched order of magnitude. It will demonstrate the many advantages of hydrogen to an even broader public.” Within this project, Linde is responsible for hydrogen purification, compression, storage and filling. The innovative features of Linde’s proprietary ionic compression technology will enable a very energy-efficient compression and a highly flexible plant operation.

The RheinMain University of Applied Sciences is in charge of the project’s scientific aspects. The findings from the research project will be utilized and assessed as part of at least one doctorate thesis. “We are looking forward to bring our long-standing research expertise in sustainable energy application and storage to this ground-breaking project,” says Professor Dr Christiane Jost, Vice President of the RheinMain University. “Young engineering students will get the opportunity to gain first-hand experience with these future-oriented technologies. That is exactly in line with our priority tasks.”

“Stadtwerke Mainz is tackling a major task of the energy turnaround,” said Eveline Lemke, Minister for Economy, Climate Protection, Energy and Regional Planning in Rhineland-Palatinate. “This is a huge step forward for enterprises, for we will need large energy storage capacities. The novel hydrogen electrolysers from Siemens are made for industrial-scale use, and solutions like these are eagerly awaited elsewhere, too. Storing solar and wind energy enhances our security of supply: the summer sun can be stored until winter and strong winds for calm periods. Our state capital is betting on the future of renewables.”

Also Michael Ebling, Mayor of the City of Mainz, is happy to have this innovative research facility within the city’s boundaries. “Mainz has made good progress with the energy turnaround in the past four to five years. Stadtwerke Mainz can justly claim to play a leading role in the energy turnaround. But building wind and solar power plants alone is not enough. We also want to make a significant contribution to expanding our power grid wisely and to storing renewable energy.”

Background information and press pictures available at: www.siemens.com/press/energiepark-mainz
Further information: www.energiepark-mainz.de
Project partners

The Linde Group is a world-leading gases and engineering company with around 63,500 employees in more than 100 countries. Under the “Clean Technology by Linde” label, the company offers a wide range of products and technologies that help to render renewable energy sources financially viable, and significantly slow down the depletion of fossil resources or reduce the level of CO2 emitted. This ranges from specialty gases for solar cell production, industrial-scale CO2 separation and application technologies to alternative fuels and energy carriers such as liquefied natural gas (LNG) and hydrogen. www.linde.com/cleantechnology

Stadtwerke Mainz AG is one of the leading municipal utilities on the German market. Its sole shareholder is the city of Mainz. The SWM corporate group ensures reliability in the supply of energy (electricity, gas, heat), drinking water and mobility to the city of Mainz and the surrounding region. The company has been successfully pursing a sustainable change in energy policy for a number of years now. www.stadtwerke-mainz.de

Siemens AG is a global powerhouse in electrical engineering and electronics, operating in the fields of industry, energy and healthcare as well as providing infrastructure solutions, primarily for cities and metropolitan areas. For over 165 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. The company is the world’s largest provider of environmental technologies. Around 40 per cent of its total revenue stems from green products and solutions. In its Drive Technologies Division, Siemens is developing a hydrogen electrolysis system based on PEM (Proton Exchange Membrane) technology. www.siemens.com/hydrogen-electrolyzer

The RheinMain University of Applied Sciences is one of the largest and one of the leading institutions of its kind. It is recognized for its modern teaching program as well as its application-oriented research. With 3,000 students, the Rüsselsheim-based Faculty of Engineering is the university’s largest. It has been researching into hydrogen and fuel cell technology for a number of years now and is involved in several related projects and networks of excellence. www.hs-rm.de

HARTFORD, Conn., May 14, 2014 /PRNewswire/ — United Technologies Corp. (NYSE: UTX) completed the sale of transportation fuel cell intellectual property (IP) assets to Ballard Power Systems (NASDAQ: BLDP)(TSX: BLD). These assets consist of over 800 patents and patent applications, as well as patent licenses, invention disclosures and know-how largely related to Proton Exchange Membrane (PEM) fuel cell technology.

As consideration for the assets, UTC received 5.1 million Ballard common shares, $2 million in cash, a grant-back license to use the patent portfolio in UTC’s existing businesses and a royalty on Ballard’s future IP licensing income generated from the combined IP portfolio.

In connection with the transaction, UTC and Ballard have also formed a strategic alliance led by a joint Advisory Council. The Advisory Council will focus on licensing and other commercial market opportunities arising from the combination of the UTC portfolio with Ballard’s existing intellectual property.

“UTC has a vast portfolio of IP and is taking technologies into new and adjacent markets to help accelerate innovation around the globe,” said Kelly Romano, Vice President of UTC’s Innovation Business Development group. “Today, we are excited about the successful transaction with Ballard which will provide a great platform for commercializing UTC’s world-class fuel cell IP portfolio together with Ballard’s engineering and manufacturing expertise.”

John Sheridan, Ballard President and CEO said, “We believe that this acquisition gives Ballard a commanding position in strategic fuel cell IP, strengthening our ability to grow shareholder value. Further, our new alliance with United Technologies will bolster Ballard’s execution capabilities, particularly in the generation of IP licensing revenue.”

Ballard Power Systems provides clean energy fuel cell products enabling optimized power systems for a range of applications. Products deliver incomparable performance, durability and versatility.

United Technologies Corp., based in Hartford, Connecticut, provides high technology products and services to the building and aerospace industries. To learn more about UTC, visit its website at www.utc.com, or follow the company on Twitter: @UTC.

ATLANTA –As drilling extends deeper into the earth, oil and gas drilling operators need the ability to change voltage requirements and specifications. Helping to establish a more reliable supply of electricity for these applications, GE’s Digital Energy business (NYSE: GE) today introduced the new PROLEC-GE Multitap Transformer. This new offering responds to a growing industrial trend to deliver customized power to energy-intensive industries such as oil and gas, which have specific electricity requisites to maintain their operations.

Designed for onshore artificial lift operations, the new Multitap Transformer will continue working through severe electrical distribution system disturbances, making it crucial for continuous, reliable operation. Equally important, it is uniquely designed to operate under a variety of extreme conditions found within the oil and gas industry, including high humidity, ultraviolet radiation, chemical pollution and saline fog environments.

The Multitap Transformer powers the pump during artificial lift extraction methods to increase the flow of oil from a production well to the surface. As it drills down further into the earth, the artificial lift needs access to different voltages. The Multitap Transformer enables oil and gas drillers to easily change the voltage of the transformer to ensure a continuous supply of energy.

“At PROLEC-GE, it’s our commitment to keep customers’ operations running as efficiently as possible,” said Rosario Lopez, commercial director, PROLEC-GE. “The Multitap Transformer reinforces this commitment and serves as a direct response to the oil and gas industry’s increasing need for customizable—and uninterrupted—power solutions. Using industry best practices, we designed the transformer to work in a range of conditions and offer a variety of power voltages and speeds. The result is continuous productivity regardless of the environment or the specification at hand.”

The Multitap Transformer—a step-up transformer—is used to increase secondary voltage. It includes a robust core and coil design that supports short-circuit forces and prevents the rectangular coil from distorting under fault conditions. The new transformer also is designed and constructed under stringent quality standards and can be customized to meet a customer’s specific needs.

GE’s Digital Energy business is a global leader in transmission and distribution solutions that manage and move power from the power plant to the consumer. Its products and services increase the reliability of electrical power networks and critical equipment for utility, industrial and large commercial customers. From protecting and optimizing assets such as generators, transmission lines and motors, to delivering analytic tools to help manage the power grid, GE’s Digital Energy business delivers industry-leading technologies to solve the unique challenges of each customer. For more information, visit http://www.gedigitalenergy.com/.

About PROLEC-GE
PROLEC-GE is a joint venture between GE and Xignux, S.A. de C.V. It is one of the largest transformer manufacturers in the Americas, offering a full line of transformer products for the generation, transmission and distribution of electric power. PROLEC has more than 40 years of experience in the industry with products installed in more than 35 countries around the world. For more information, please visit www.prolecge.com.

About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company’s website at www.ge.com.

BENTON HARBOR, Mich., — Whirlpool Corporation (NYSE: WHR) has a long history in environmental stewardship including helping to draft the first ENERGY STAR® appliance standards. The company currently sells 424 ENERGY STAR appliance models, and has been honored with 23 ENERGY STAR Awards since the beginning of the program in 1998 – offering more qualified products, and winning more ENERGY STAR Awards than any other manufacturer.

“We recognize the ENERGY STAR program for the value it has offered consumers over the years and as an important element of our broad-based sustainability strategy,” said Nick Gillespie, senior manager of government relations for Whirlpool Corporation. “Our success over the years has come from the realization you have to build energy efficient appliances with the innovative features and benefits consumers want. This is not an ‘either/or’ situation, we must offer great products that are both innovative and efficient to be effective in protecting the environment. We have done just that and more with all of our energy saving products, including those that we are proud to have designated as ENERGY STAR.”

Whirlpool’s sustainability strategy engages nearly every aspect of its business, from materials and processes, to product technologies and end-of-life recycling, all aimed at a more sustainable future. With more than 860 million appliances currently in homes in the United States – many 10 or more years old – our biggest opportunity for overall energy and water savings is in educating consumers on the benefits of replacing old, inefficient appliances with new advanced products. As an example, a new washer today is 77 percent more efficient than one from the year 2000 and only costs $66 a year to run. Consumers who replace older models would save $117 a year. Also, new front-load washing machines are 70 percent more efficient using about 26 fewer gallons of water per load than those made in 2000.

In managing the environmental effects of its business, Whirlpool goes well beyond the products it produces, to include improving its processes, using advanced materials and investing in state-of-the-art facilities to minimize impact on the planet. Most recently, Whirlpool became the first U.S. manufacturer of ENERGY STAR refrigerators and freezers committed to using EPA SNAP-approved environmentally friendly Solstice foam blowing agent that delivers better energy efficiency and a 99.9% improvement in the global warming potential (GWP) over commonly used blowing agents in the U.S (HFC-245fa).

Whirlpool also operates a global facility sustainability program achieving several LEED certifications. The company has ongoing partnerships in programs that explore and test “net-zero” energy homes. And, last year, Whirlpool introduced a suite of smart grid compatible appliances. The company’s focus on the environment also extends to public policy and community engagement. Whirlpool was one of 13 founding members of the Business Environment Leadership Council, an advisory group to the Pew Center on Global Climate Change. The Center conducts studies and international educational programs on the issue of global climate change.

About Whirlpool Corporation

Whirlpool Corporation is the world’s leading global manufacturer and marketer of major home appliances, with annual revenues of approximately $19 billion in 2013, 69,000 employees and 59 manufacturing and technology research centers around the world. The company markets Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Brastemp, Consul, Bauknecht and other major brand names to consumers in nearly every country around the world. Additional information about the company can be found at http://www.whirlpoolcorp.com.

New York, NY: GE ecomagination and Aramco Entrepreneurship today launched an open global technology challenge to accelerate the development of solutions focused on improving the energy efficiency of seawater desalination. The US$200,000 challenge will be awarded to four winners with a prize of US$50,000 each, and further investments towards commercialization of the best ideas among all submissions will be considered.

Current desalination techniques are typically very energy intensive: energy consumption can account for up to 70 per cent of the desalination costs. The global production of desalinated water uses approximately 75.2 terawatt-hours of electricity per year, enough to power nearly 7 million homes. The goal of this challenge is to identify novel ways to lower these costs around the world, either through technology advances, process improvements, or both.

Nabil Al-Khowaiter, Aramco Entrepreneurship’s Director of Special Projects, stated that “Finding a more efficient method of desalinating seawater will be a game-changer in our collective pursuit of a more sustainable energy future across the globe. Due to increased water scarcity, countries around the world are poised to rely more and more heavily on desalination as a means to provide fresh water. With current techniques, this increased reliance could contribute dramatically to increased energy use. Aramco Entrepreneurship is partnering with GE not only to identify new solutions to lowering desalination costs, but also to invest in and attract new technologies and industries to Saudi Arabia.”

Deb Frodl, GE’s global executive director, ecomagination said, “GE ecomagination is investing to speed up the development of more sustainable solutions for water desalination. Through this challenge, we hope to inspire scientists, engineers, entrepreneurs, and innovators around the world to bring their talents to this effort and help drive greater outcomes for customers.”

The open innovation challenge aims to identify new solutions to lower total desalination costs and emissions through: cleaner energy sources; incorporating advanced materials; and integrating processes better. Solutions must be innovative, impactful, feasible and scalable across the globe.

Entries are being immediately accepted at www.ninesights.com/community/ecomagination. The deadline to submit entries is July 16, 2014, and winners will be announced in November 2014.

The challenge is the fifth ecomagination open innovation challenge since ecomagination launched in 2005. GE has a successful history with open innovation challenges; most recently launching an advanced manufacturing challenge to use 3D printing to improve the production of a GE aircraft engine bracket and two healthcare challenges to advance work in breast cancer and traumatic brain injury diagnosis.

Since its 2005 launch, ecomagination — the company’s commitment to technology solutions that save money and reduce environmental impact for its customers and GE’s own operations — has generated more than US$160 billion in revenue. GE’s own operations have seen a 34 per cent reduction in greenhouse gas (GHG) emissions since 2004 and a 47 per cent reduction in freshwater use since 2006, realizing US$300 million in savings. Building off this success, in February 2014, GE renewed its ecomagination focus by committing to reduce GE’s GHG emissions and freshwater use by 20 per cent, from the 2011 baseline, by 2020 and announcing the continuation of GE’s R&D investment committing to invest US$10 billion additional in ecomagination technologies to reach a total investment of US$25 billion by 2020.

About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. www.ge.com.

About Aramco Entrepreneurship
The Saudi Aramco Entrepreneurship Center (Aramco Entrepreneurship) is a wholly owned subsidiary of Saudi Aramco, which supports high impact entrepreneurs and small and medium-sized enterprises (SMEs) by providing non-collateralized loans through its Wa’ed loan program and equity investments through its Wa’ed VC program. www.waed.net

This news is courtesy of www.ge.com

NORWALK, Conn – High occupancy carpooling lanes are critical to combating roadway congestion. However, their benefits are severely limited when motorists do not abide by the rules. Xerox (NYSE: XRX) today announced the launch of its Vehicle Passenger Detection System PDF file, a HOV/HOT lane compliancy test system that uses Xerox video analytics to identify the number of occupants in a vehicle.

Unlike competing solutions, the Vehicle Passenger Detection System identifies the number of occupants in a vehicle with better than 95 percent accuracy at speeds ranging from stop-and-go to 100 mph.

Using patented video analytics and geometric algorithms the roadside detection unit can distinguish between empty and occupied seats. When a violation is detected, the information can be reported to the relevant enforcement agency in real time so an officer can visually confirm the information and potentially issue a citation.

“Today, officers must park on the shoulder of a highway and quickly merge into traffic to chase down the violator, putting both the officer and the public at risk,” said Mark Cantelli, vice president, CTO, Government & Transportation Sector, Xerox. “This detection system automates the process and improves safety through the use of high-quality images and the generation of an evidence package.”

The new passenger detection system was designed for tolling agencies managing HOT lanes and for transportation departments as well as state law enforcement officers seeking better HOV enforcement. In addition, Xerox’s detection system can produce valuable analytics for agencies to improve roadway management, traffic patterns and total vehicle occupant statistics.

About Xerox
Since the invention of Xerography more than 75 years ago, the people of Xerox (NYSE: XRX) have helped businesses simplify the way work gets done. Today, we are the global leader in business process and document management, helping organizations of any size be more efficient so they can focus on their real business. Headquartered in Norwalk, Conn., more than 140,000 Xerox employees serve clients in 160 countries, providing business services, printing equipment and software for commercial and government organizations.

This news is courtesy of www.xerox.com

MEXICO CITY—GE (NYSE: GE) today marked the launch of its new Distributed Power business in the Latin America region. Meeting the growing demand for on-site power systems that are efficient, reliable and sustainable, GE’s Distributed Power business is investing US$1.4 billion over four years globally and has three key product lines—aeroderivative gas turbines, Jenbacher gas engines and Waukesha gas engines. All three product ranges are qualified under GE’s ecomagination program, which is the company’s innovative technology platform to increase customer productivity and drive cleaner energy solutions.

GE’s Distributed Power business sees a $100 billion opportunity spanning a variety of applications and will specifically address the increased demand for on-site power from oil and gas majors and heavy industries in Latin America. The industrial sector accounts for a significant part of the power consumed in the region today, with overall demand for electricity projected to grow at an average of seven percent over the next 10 years. Increasingly, industries are relying on on-site power systems to meet their needs and accelerate operational efficiency.

The product lines from GE’s Distributed Power bring the dual advantage of assured and reliable power supply onsite as well as off-grid solutions and the ability to work with renewable energy solutions, a focus area in several countries including Brazil, Mexico and Argentina, among others.

Lorraine Bolsinger, president and CEO of GE’s Distributed Power business, announced the launch of Latin America’s new business. She said: “GE has been a trusted partner in the progress of the region. Today, in line with the growth in the manufacturing sector and increasing demand for on-site power, delivering new power generation solutions is of critical importance to improve regional energy security. GE’s Distributed Power solutions enable power generation at or near the point of use, providing our customers more flexibility and control.

“We are honored to launch our Distributed Power business in Latin America, which now includes our Engineering Center in Queretaro and our Service Center in Petropolis, Brazil, for localized service for the aeroderivative and oil and gas sectors. Distributed Power is all about creating local power using local fuels for faster, flexible, scalable and secure power generation. GE’s aeroderivative gas turbines and Waukesha and Jenbacher gas engines can be installed in weeks and generate power in as little as five minutes. GE’s on-site power generation solutions will enable industries to take the pressure off the national grids, freeing more power for meeting peak load requirements. They also reduce energy losses from transmission and distribution, thus delivering both economic and environmental benefits.”

Distributed power has become increasingly popular in countries that are seeking more reliable, efficient energy options near the point of use—on or off the grid. According to a report by GE, distributed power will grow 40 percent faster than global electricity demand between now and 2020. More communities and businesses are installing distributed power technologies to improve access to electricity in remote areas with poor or non-existent electric grids.

In both developing and developed economies, industry is using distributed power to improve industrial and residential energy efficiency and ensure they have emergency power in the event of natural disasters and other unplanned outages. At the same time, the oil and gas industry relies heavily on on-site power to provide electricity to remote operations as well as mechanical power to pump and compress gas.

Strong regional footprint

GE’s Distributed Power solutions already are being deployed across several key industries and oil and gas majors in Latin America and are helping GE meet the needs of its growing aeroderivative gas turbine and gas engines customer base in the region.

GE’s Brazil Service Center is located in the city of Petropolis, in the state of Rio de Janeiro, on 1.9 acres of land and services natural gas, liquid fuel, biofuels and sugarcane-based ethanol-fired machines. The 2,044 square-meter building provides the following benefits:

Services and logistics processes;
In-country shop and component repair capabilities as applicable (LM2500/LM6000);
Complex assembly support;
Will have the capacity for more than 100 units in five years; and
Addresses customer localization requirements—engine and component repairs and future localized equipment content.
GE’s Center for Advanced Engineering (GEIQ), located in Queretaro, Mexico, is one of the GE’s most complex research and technological development centers in the world. GEIQ is developing products and solutions for the aviation, power generation and oil and gas industries. In 2013, GE invested more than US$20 million in the expansion of its facilities to increase its capacity to a total of 2,200 engineers.

GEIQ, one of the largest engineering centers in Mexico, is responsible for developing solutions for the future by:

In the power generation industry, developing capacities for the design of aeroderivative marine packages, which use aviation technology to generate electrical power;
Providing customers with regional support for the gas and steam turbine industry; and
Addressing customer applications and requisitions requirements in the region.
About GE

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company’s website at www.ge.com.

About GE ecomagination
With cumulative R&D spend of US$6 billion targeting US$10 billion by 2015, GE’s ecomagination portfolio has exceeded targets, reaching US$25 billion in revenue from ecomagination products in 2012. Exceeding its environmental footprint targets of 25 percent, GE has reduced greenhouse gas emissions and water use by 32 percent and 46 percent respectively. Annually, GE invests over US$10 billion to launch new products and build global capability. Today, the company has over 1,000 clean technology patents and 105,000 patents overall.

About GE Power & Water
GE Power & Water provides customers with a broad array of power generation, energy delivery and water process technologies to solve their challenges locally. Power & Water works in all areas of the energy industry including renewable resources such as wind and solar, biogas and alternative fuels; and coal, oil, natural gas and nuclear energy. The business also develops advanced technologies to help solve the world’s most complex challenges related to water availability and quality. Power & Water’s six business units include Distributed Power, Nuclear Energy, Power Generation Products, Power Generation Services, Renewable Energy and Water & Process Technologies. Headquartered in Schenectady, N.Y., Power & Water is GE’s largest industrial business.

This news is courtesy of www.ge.com

MINNEAPOLIS, – Honeywell (NYSE: HON) today announced a two- year program with CPS Energy in San Antonio, Texas. The utility will use automated demand response (ADR) technology and services from Honeywell to connect and collaborate with commercial and industrial customers, and adjust electricity consumption when the demand for energy peaks. As a result, CPS Energy will have additional tools to enhance the stability of the Texas electrical grid, especially on hot summer days when air conditioners and other cooling equipment are often running at capacity.

The program is expected to be the largest ADR deployment by a municipal utility, and will build on a successful pilot project that CPS Energy and Honeywell completed last year. The pilot included nine commercial and industrial facilities, and helped trim demand by approximately 1.5 megawatts (MW) — a more than 10 percent reduction in each building on average. Honeywell and CPS Energy will look to enroll 60 additional sites, bringing the potential reduction to nearly 6 MW, enough electricity to meet the typical load of more than 2,200 homes.

“Shifting demand is simple in theory, but making the right connections with the right
energy loads and delivering repeatable results is critical to having the lasting impact utilities need,” said Jeremy Eaton, vice president of Honeywell Smart Grid Solutions. “We assist customers like CPS Energy in striking this balance to help create a more stable, sustainable grid.”

Extreme temperatures can put stress on power lines and transformers, and have historically required utilities like CPS Energy to fire up “peaking plants” — small power plants that usually sit in reserve to produce additional electricity to meet consumer demand. ADR serves a similar purpose; however, the concept centers on working with utility customers to temporarily use less energy, rather than building costly plants.

“Our commercial demand response program is a win for both sides,” said David Jungman, CPS Energy’s vice president of Corporate Development and Planning. “It helps us save energy for the electrical grid, but also helps local companies reduce their energy use and ultimately improve their bottom line. We think ADR is another valuable resource to conserve energy and ensure the reliability of the state grid.”

As part of the program, Honeywell will identify and enroll customers, audit their buildings to identify curtailment opportunities, and work to customize and implement changes that trim energy use, but don’t impact core business functions. In return for joining, customers receive an incentive for each kilowatt they’re able to shed. The hardware and software installed can also help each organization better manage electricity use every day and boost long-term energy efficiency.

Honeywell will also provide its Akuacom Demand Response Automation Server, software as a service (SaaS) that enables CPS Energy to send signals to building automation systems at sites enrolled in the program, triggering the short-term load-shedding measures the customer selects — heating and cooling adjustments, and subtle changes in lighting, for example.
Honeywell also manages a residential demand response for CPS Energy, which started in 2004 and now involves more than 81,000 homeowners. Combined, the residential and commercial-industrial programs should allow the utility to generate the same amount of “negawatts” as several gas-fired peaking plants can produce megawatts.

In addition, demand response is an integral part of CPS Energy’s Save for Tomorrow Energy Plan (STEP) — a strategy to save 771 MW by the year 2020. STEP initiatives, such as residential and commercial rebates, and demand response programs, focus on conserving energy that would have to be produced through new power plants. In 2013, CPS Energy saved 130 MW during peak times through demand response programs.

Honeywell is an ADR pioneer and leader with 20 programs underway in the United States
and around the world, including first-of-their-kind projects in Australia, China, India and the U.K. The company has also managed demand response and energy efficiency programs for more than 100 utilities. With controls in more than 150 million homes, 10 million buildings and thousands of industrial sites across the globe, Honeywell has the technology and expertise to empower smart energy producers and users.

Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; turbochargers; and performance materials. Based in Morris Township, N.J., Honeywell’s shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.com.

This news is courtesy of www.honeywell.com

TREVOSE, PA.–GE (NYSE: GE) reports that MEG Energy Corp. has selected its evaporation technology for Phases 2B and 3A of the Christina Lake Project, located in Northern Alberta, Canada. GE’s evaporators will be used to recycle a significant portion of the steam generator blowdown for reuse as boiler feedwater.

The Christina Lake project uses both cogeneration and once-through steam generators (OTSGs) to drive the steam-assisted gravity drainage (SAGD) process for the production of bitumen, which is a heavy crude oil produced from oil sands. MEG Energy will use GE evaporators to treat its OTSG blowdown and recycle it as boiler feedwater as opposed to disposing of it by deep well injection.

“We’ve witnessed industry trends of SAGD projects either installing new systems with OTSG evaporators or retrofitting existing units. As projects in Alberta’s oil sands increase, more companies are turning to GE’s evaporative technologies to address the critical issue of how to handle produced water,” said Bill Heins, general manager, thermal systems—water and process technologies for GE Power & Water.

GE will supply fifth generation, fully modularized evaporator systems, which are designed to achieve the lowest possible project costs. These advanced, module designs incorporate years of experience and optimizations resulting from numerous modularized evaporator projects designed and supplied by GE to clients in the Canadian oil sands.

About GE

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company’s website at www.ge.com.

About GE Power & Water

GE Power & Water provides customers with a broad array of power generation, energy delivery and water process technologies to solve their challenges locally. Power & Water works in all areas of the energy industry including renewable resources such as wind and solar; biogas and alternative fuels; and coal, oil, natural gas and nuclear energy. The business also develops advanced technologies to help solve the world’s most complex challenges related to water availability and quality. Power & Water’s six business units include Distributed Power, Nuclear Energy, Power Generation Products, Power Generation Services, Renewable Energy and Water & Process Technologies. Headquartered in Schenectady, N.Y., Power & Water is GE’s largest industrial business.

This news is courtesy of www.ge.com