Parker-Hannifin Corporation’s (PH - Free Report) operating arm, Parker Aerospace inked an agreement with Phyre Technologies, Inc. in order to work on developing the latter’s patented catalytic inerting technology for aerospace applications.
Phyre Technologies is a privately held research and development company, which specializes in catalyst-based oxygen removal systems for both liquids and gases.
The exclusive license agreement calls for a collaboration that aims to bring catalytic inerting to the market.
Catalytic inerting is a pioneering concept that advances the applications of fuel tank inerting technology. Currently, this technology enables the generation of inert nitrogen gas by pressurizing air separation modules with engine-generated bleed air.
Catalytic inerting will allow the ullage air and vapors to be pulled from the fuel tank and passed through a catalyst, thus producing inert Oxygen Depleted Air (“ODA”). This inert ODA stream will then be cooled and dried, and thereafter redirected to the fuel tank to inert the ullage space.
This distinctive, self-contained system is entirely separated from the aircraft pneumatic system.
Phyre Technologies’ research and development has resulted in successful demonstrations of the company’s “GOBIGGS” or Green OBIGGS (on-board inert gas generation system) on quite a few military applications.
The collaboration will enable Phyre Technologies to leverage Parker’s experience in fuel tank inerting which spans over 50 years.
The partnership will work toward commercializing the catalytic inerting concept. The technology has the potential to generate inert gas on board the aircraft without the need for a source of high-pressure air. The system would only need interfaces with the aircraft electrical system and fuel tank.
Through additional catalyst testing, the companies will work to confirm system life, as well as spread out and validate the operating envelope. The companies expect that the final catalytic system that will eventually go to market will be considerably smaller and lighter, and also involve lower maintenance costs.
Parker Aerospace has recently won a string of contracts with Rolls-Royce (for supporting an engine development program); Kongsberg’s and Raytheon’s (to offer a thermal cooling system to Joint Strike Missile), and Commercial Aircraft Corporation of China (for providing over 60 types of components to C919 engines).
We believe that the collaboration with Phyre Technologies will help Parker Aerospace’s carve a niche in its market.
Parker-Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, and generates about half of its business from maintenance, repair, and overhaul operations, which serve to moderate the effect of cyclical nature of its end markets to some degree.
Parker-Hannifin presently holds a Zacks Rank #2 (Buy). Some other stocks in the same space that are worth a look now include EnPro Industries, Inc. (NPO - Free Report) , Ingersoll-Rand Plc (IR - Free Report) and Luxfer Holdings PLC (LXFR - Free Report) , each carrying the same rank as Parker-Hannifin.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Parker-Hannifin Corporation’s (PH - Free Report) operating arm, Parker Aerospace inked an agreement with Phyre Technologies, Inc. in order to work on developing the latter’s patented catalytic inerting technology for aerospace applications.
Phyre Technologies is a privately held research and development company, which specializes in catalyst-based oxygen removal systems for both liquids and gases.
The exclusive license agreement calls for a collaboration that aims to bring catalytic inerting to the market.
Catalytic inerting is a pioneering concept that advances the applications of fuel tank inerting technology. Currently, this technology enables the generation of inert nitrogen gas by pressurizing air separation modules with engine-generated bleed air.
Catalytic inerting will allow the ullage air and vapors to be pulled from the fuel tank and passed through a catalyst, thus producing inert Oxygen Depleted Air (“ODA”). This inert ODA stream will then be cooled and dried, and thereafter redirected to the fuel tank to inert the ullage space.
This distinctive, self-contained system is entirely separated from the aircraft pneumatic system.
Phyre Technologies’ research and development has resulted in successful demonstrations of the company’s “GOBIGGS” or Green OBIGGS (on-board inert gas generation system) on quite a few military applications.
The collaboration will enable Phyre Technologies to leverage Parker’s experience in fuel tank inerting which spans over 50 years.
The partnership will work toward commercializing the catalytic inerting concept. The technology has the potential to generate inert gas on board the aircraft without the need for a source of high-pressure air. The system would only need interfaces with the aircraft electrical system and fuel tank.
Through additional catalyst testing, the companies will work to confirm system life, as well as spread out and validate the operating envelope. The companies expect that the final catalytic system that will eventually go to market will be considerably smaller and lighter, and also involve lower maintenance costs.
Parker Aerospace has recently won a string of contracts with Rolls-Royce (for supporting an engine development program); Kongsberg’s and Raytheon’s (to offer a thermal cooling system to Joint Strike Missile), and Commercial Aircraft Corporation of China (for providing over 60 types of components to C919 engines).
We believe that the collaboration with Phyre Technologies will help Parker Aerospace’s carve a niche in its market.
Parker-Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, and generates about half of its business from maintenance, repair, and overhaul operations, which serve to moderate the effect of cyclical nature of its end markets to some degree.
Parker-Hannifin presently holds a Zacks Rank #2 (Buy). Some other stocks in the same space that are worth a look now include EnPro Industries, Inc. (NPO - Free Report) , Ingersoll-Rand Plc (IR - Free Report) and Luxfer Holdings PLC (LXFR - Free Report) , each carrying the same rank as Parker-Hannifin.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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