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General Electric (GE) Partners Shell, Launches Inspection Solution
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General Electric Company (GE - Free Report) , on May 25, announced that its GE Power Conversion business unit has entered into an Enterprise Framework Agreement with Shell. Notably, GE Power Conversion is part of the company’s GE Power operating segment.
Inside the Headlines
The deal empowers General Electric as a strategic supplier of Shell for high-speed systems like converters, transformers and high-speed motors for the coming five years, with an extension option for three years. In fact, this will allow General Electric to supply and services all high-speed equipment ranging from 500-20,000 kW and from 4,000-15,000 rpm to Shell entities throughout the world. As noted, the deal, which is pertinent to all industrial processes, will facilitate Shell in its transition process toward electrical drive solutions for various applications.
Separately, General Electric’s business segment, GE Renewable Energy, launched its underwater robotized hydropower turbine inspection solution, developed by GE Research Center. Endowed with cameras and sensors, the solution helps in inspecting between runner blades of all types of hydropower turbines without the need for equipment dewatering. Notably, the solution will help hydropower turbine operators in lowering inspection risks and cost, apart from cutting outage time by 95%. As a matter of fact, this advanced solution will help in enhancing the operational availability and flexibility of hydropower plants.
Further, the company announced a collaboration with Global Manufacturing and Industrialisation Summit. The alliance will work on supporting producers in implementing lean manufacturing process, digitization and workplace safety measures. This is likely to boost manufacturing efficiencies and productivity, apart from reducing costs.
Portfolio-restructuring measures, healthy liquidity position and solid contracts secured are expected to aid the company in the quarters ahead. Persistent challenges in Aviation are concerning. It faces stiff competition from several of its peers in the industry like Honeywell International Inc. (HON - Free Report) , 3M Company (MMM - Free Report) and Raytheon Technologies Corporation (RTX - Free Report) .
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency have sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
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General Electric (GE) Partners Shell, Launches Inspection Solution
General Electric Company (GE - Free Report) , on May 25, announced that its GE Power Conversion business unit has entered into an Enterprise Framework Agreement with Shell. Notably, GE Power Conversion is part of the company’s GE Power operating segment.
Inside the Headlines
The deal empowers General Electric as a strategic supplier of Shell for high-speed systems like converters, transformers and high-speed motors for the coming five years, with an extension option for three years. In fact, this will allow General Electric to supply and services all high-speed equipment ranging from 500-20,000 kW and from 4,000-15,000 rpm to Shell entities throughout the world. As noted, the deal, which is pertinent to all industrial processes, will facilitate Shell in its transition process toward electrical drive solutions for various applications.
Separately, General Electric’s business segment, GE Renewable Energy, launched its underwater robotized hydropower turbine inspection solution, developed by GE Research Center. Endowed with cameras and sensors, the solution helps in inspecting between runner blades of all types of hydropower turbines without the need for equipment dewatering. Notably, the solution will help hydropower turbine operators in lowering inspection risks and cost, apart from cutting outage time by 95%. As a matter of fact, this advanced solution will help in enhancing the operational availability and flexibility of hydropower plants.
Further, the company announced a collaboration with Global Manufacturing and Industrialisation Summit. The alliance will work on supporting producers in implementing lean manufacturing process, digitization and workplace safety measures. This is likely to boost manufacturing efficiencies and productivity, apart from reducing costs.
Portfolio-restructuring measures, healthy liquidity position and solid contracts secured are expected to aid the company in the quarters ahead. Persistent challenges in Aviation are concerning. It faces stiff competition from several of its peers in the industry like Honeywell International Inc. (HON - Free Report) , 3M Company (MMM - Free Report) and Raytheon Technologies Corporation (RTX - Free Report) .
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency have sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>