Siemens Government Technologies, Inc., an operating unit of Siemens AG , recently secured a $5.3 million task order to install and implement energy-conserving enhancements at the U.S. Coast Guard Base in Elizabeth City, N.C. from the United States Coast Guard. The project will be funded by the energy savings guaranteed by Siemens as it will use an Energy Savings Performance Contract (ESPC) from the Department of Energy.
Siemens is committed to ensure energy savings and infrastructure upgrades for the U.S base. Over the 14-year contract term, the energy conservation upgrades include heating improvements, installation of a building automation system across the base and water conservation measures, thereby reaping annual energy savings of $540,000.
This project is expected to reduce electricity consumption on the base by more than 1.1 million kilowatt hours annually and at the same time eliminate 78,000 gallons of fuel use and 32,000 gallons of liquid propane use annually.
Siemens continues to deliver innovative technological solutions for its customers. It aims to provide solutions that give the maximum operational benefit to its clients. The water conservation initiatives are expected to save over 3 million gallons of water, which is equivalent to reducing carbon dioxide emissions by more than 3.7 million pounds annually.
Siemens focuses on key areas like information services, automation and controls, medical equipment, power generation, transportation systems, automotive electronics, lighting, and other similar areas. Given its product breadth and geographic diversity, the company is a major beneficiary of increased spending as developing nations build up their infrastructure.
Siemens currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look are SL Industries Inc. ), carrying a Zacks Rank #1 (Strong Buy), and Daktronics Inc. (DAKT - Free Report) and Kopin Corp. (KOPN - Free Report) , both carrying a Zacks Rank #2 (Buy).