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General Electric (GE) Signs MOU to Explore CCUS Value Chain
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General Electric Company’s (GE - Free Report) unit, GE Vernova’s Gas Power business, has signed a Memorandum of Understanding (MOU) with a group of companies to perform a feasibility study to advance the carbon capture, utilization and storage (CCUS) value chain and provide joint solutions to decarbonize gas power plants in Indonesia.
The group of companies includes Korea-based decarbonization solutions provider CARBONCO, natural gas producer Tangguh’s operator BP Berau (bp), Indonesia’s national utility PLN’s subsidiary PT. PLN Nusantara Power (PLN Nusantara) and PT Jawa Satu Power (Jawa 1).
CCUS is a technology that reduces CO2 emissions from large point sources such as power plants, refineries and other industrial facilities or removes existing CO2 from the atmosphere. Per the deal, GE, PLN Nusantara, Jawa 1, CARBONCO and bp will work together to develop an entire CCUS value chain, from the deployment of carbon capture technology at gas-fired power plants to the transportation of carbon dioxide to export terminals. GE and the group of companies will isolate the captured CO2 at the Tangguh field, located in Indonesia.
The MOU will leverage GE’s expertise in combined cycle power plant integration with carbon capture plants together with CARBONCO’s competence in CCUS technology, bp’s expertise in CCUS and Jawa 1 and PLN Nusantara’s installed base in Indonesia. This collaboration among the companies will reduce carbon intensity, increase flexibility and reliability and lower capital costs as well.
The MOU was signed at the 1st International & Indonesia CCS Forum 2023 and builds on an announcement made in October by General Electric and Carbonco to jointly explore a roadmap for the integration of CCUS technology.
General Electric is building a powerful ecosystem to advance digital transformation, expand into new markets, improve its product line and develop an edge over its competitors through strategic partnerships. These collaborations strengthen GE’s industry position and help it drive revenues.
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General Electric (GE) Signs MOU to Explore CCUS Value Chain
General Electric Company’s (GE - Free Report) unit, GE Vernova’s Gas Power business, has signed a Memorandum of Understanding (MOU) with a group of companies to perform a feasibility study to advance the carbon capture, utilization and storage (CCUS) value chain and provide joint solutions to decarbonize gas power plants in Indonesia.
The group of companies includes Korea-based decarbonization solutions provider CARBONCO, natural gas producer Tangguh’s operator BP Berau (bp), Indonesia’s national utility PLN’s subsidiary PT. PLN Nusantara Power (PLN Nusantara) and PT Jawa Satu Power (Jawa 1).
CCUS is a technology that reduces CO2 emissions from large point sources such as power plants, refineries and other industrial facilities or removes existing CO2 from the atmosphere. Per the deal, GE, PLN Nusantara, Jawa 1, CARBONCO and bp will work together to develop an entire CCUS value chain, from the deployment of carbon capture technology at gas-fired power plants to the transportation of carbon dioxide to export terminals. GE and the group of companies will isolate the captured CO2 at the Tangguh field, located in Indonesia.
The MOU will leverage GE’s expertise in combined cycle power plant integration with carbon capture plants together with CARBONCO’s competence in CCUS technology, bp’s expertise in CCUS and Jawa 1 and PLN Nusantara’s installed base in Indonesia. This collaboration among the companies will reduce carbon intensity, increase flexibility and reliability and lower capital costs as well.
The MOU was signed at the 1st International & Indonesia CCS Forum 2023 and builds on an announcement made in October by General Electric and Carbonco to jointly explore a roadmap for the integration of CCUS technology.
General Electric Company Price
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General Electric is building a powerful ecosystem to advance digital transformation, expand into new markets, improve its product line and develop an edge over its competitors through strategic partnerships. These collaborations strengthen GE’s industry position and help it drive revenues.
Zacks Rank & Other Stocks to Consider
General Electric currently sports a Zacks Rank #1 (Strong Buy). Some other top-ranked companies are discussed below:
Caterpillar Inc. (CAT - Free Report) presently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
CAT’s earnings surprise in the last four quarters was 17.8%, on average. In the past 60 days, estimates for Caterpillar’s earnings have increased by 10.6% for 2023. The stock has gained 53.1% in the past year.
Eaton Corporation plc (ETN - Free Report) currently carries a Zacks Rank #2 (Buy). The company delivered a trailing four-quarter earnings surprise of approximately 3%, on average.
In the past 60 days, estimates for Eaton’s earnings have increased by 4% for 2023. The stock has soared 67.1% in the past year.
A. O. Smith Corp. (AOS - Free Report) presently carries a Zacks Rank #2. AOS’ earnings surprise in the last four quarters was 10.5%, on average.
In the past 60 days, estimates for A. O. Smith’s earnings have increased by 2.9% for 2023. The stock has gained 30.2% in the past year.