Siemens Energy, a division of Siemens AG , recently opened a new facility in Charlottesville, VA, for manufacturing innovative airfoil components for gas turbine blades and vanes. The new technology is licensed with Mikro Systems, Inc.
The use of Tomo-Lithographic Molding (TOMO) manufacturing technology in a range of gas turbine machinery improves the cooling capabilities of gas turbines and increases overall efficiency. This new advanced technology is suitable for the environment as well as for customers. This technology further encourages the company to boost its current world record for combined cycle efficiency of almost 61% to higher levels.
TOMO manufacturing technology will enhance the progress in blade manufacturing and support Siemens’ efforts for clean energy product development. New airfoil components can tolerate higher gas temperatures and use less cooling air, thereby improving the efficiency of natural gas turbine energy production. With the enhancement in gas turbine performance, the plant owners are expected to reduce cost and improve overall plant profitability.
Siemens’ Energy business segment comprises Power Generation (PG), Power Transmission & Distribution (PTD), Fossil Power Generation, and Renewable Energy and Solutions for the oil and gas industry.
The PG division offers services and products, such as planning and construction of power plants, the manufacture and installation of components and systems, power plant upgrades, energy management systems, and fuel cells. It also supplies turbines, compressors, and complete solutions for industrial plants, particularly in the oil and gas industry. In the last reported quarter, the Energy sector recorded a 9% year-over-year decline in revenues due to lower Fossil Power Generation and Wind Power revenues.
Siemens currently has a Zacks Rank #3 (Hold) Other stocks that look promising and are worth a look are PDF Solutions Inc. (PDFS - Snapshot Report), Syntel Inc. (SYNT - Snapshot Report), and Forrester Research Inc. (FORR - Snapshot Report), each carrying a Zacks Rank #2 (Buy).