General Electric Company’s (GE - Free Report) three Jenbacher J624 gas engines have replaced Energie AG’s existing steam turbines. Banking on the improved flexibility, reliability and efficiency, GE’s J624 has helped Austria’s largest cogeneration plant powered by gas engines; upgrade its district heating facility.
GE’s J624 is the world’s first gas engine with an output of 4.4 megawatts and is more cost effective with reliable performance and greater efficiency. With advanced two-stage turbocharging, the J624 gas engine is based on technology that provides high electrical efficiency (45.4%), thermal efficiency (43.7%) and overall efficiency (89.1%).This innovative technology addresses the increasing demand for high efficiency power generation.
The J624 gas engine is specially designed to operate in warm environment. This new technology will provide power to the town of Kirchdorf and provide electricity to the local grid. It offers options for combined heat and power generation. Additionally, the small size of these engines facilitated Energie AG to save time by minimizing the modification process. The output of GE’s gas engines has increased by 10% with the use of the two stage turbochargers.
General Electric is one of the most diversified technologies and financial service corporations in the world. Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions, and GE Capital. GE Power & Water produces gas, steam and aero derivative turbines; generators; combined cycle systems; and renewable energy solutions, as well as provides water treatment services and equipment. In the last reported quarter, Power & Water segment reported revenues of $4.8 billion, down 26% year over year hampered by fewer wind and gas turbine shipments in the European markets.
General Electric currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now are Honeywell International Inc (HON - Free Report) , ITT Corporation (ITT - Free Report) and Compass Diversified Holdings (CODI - Free Report) , each carrying a Zacks Rank #2 (Buy).