Company News

Axpo has closed an additional syndicated, committed and unsecured credit facility of EUR 2.3 billion with an international bank consortium, increasing its syndicated credit lines with banks to a total of EUR 5.3 billion.   Axpo Holding AG (Axpo) has signed an additional unsecured credit facility of EUR 2.3 billion with an international bank consortium. The new facility has a 1-year tenor and can be extended unilaterally by Axpo for an additional year. Credit facility These credit facilit...

With business energy bills getting utterly ridiculous, perhaps now is the time to invest in solar energy, battery storage, and a Business Energy Management System? The BBC has recently reported how many pubs, restaurants, and other mid-sized businesses are facing a double whammy of reduced customer footfall and exploding energy bills. People are enjoying outside entertainment less because of their extortionate energy bills yet the costs of running a business is getting ridiculous. Control...

EG Electronics, a specialist electronics technology solution provider of automation, energy, smart cities, and industrial IoT applications, has partnered with Bi-Search International to expand their Lusid Transparent OLED display offering across the entire European Market. Transparent OLED As an early adopter of LG Display’s T.OLED (Transparent OLED), Bi-Search International has acquired extensive experience and know-how related to the design, integration, and testing of Transparent OLED...

UK business consultancy and data analysts Experian have shown that only better infrastructure can maintain the EV revolution. A 291% growth in electric vehicle numbers over the last two years matched with only a 35% growth in EV chargers in the last 12 months. Cities Vs Countryside Somewhat unsurprisingly, Experian showed that those living in less dense housing have a better chance of installing home chargers. Their data sh...

Lincoln Electric, a pioneer in the engineering, design, and manufacturing of advanced arc welding, cutting, and automation solutions, is seeking to hire dozens of engineers. Some of the positions will support the company’s entry into the electric vehicle charging space as it applies its proven expertise in power electronics and extensive domestic manufacturing capabilities to design and manufacture DC fast-charge EV chargers for the U.S. market. Proven expertise in power electronics &ld...

Energy infrastructure in the greater Horn of Africa has struggled to keep pace with a fast-growing population, creating a formidable hurdle for the region’s buoyant economies that can best be overcome through stronger deployment of energy efficiency and renewable technologies, according to a new IEA report. Countries in the region have already demonstrated they can find innovative solutions to extend electricity access to underserved populations and have huge underexploited potential for...

IEA Executive Director - Fatih Birol received the prestigious GLOBSEC European Award for his and the Agency’s work to support Europe this year during the global energy crisis triggered by Russia’s invasion of Ukraine. The European Award is presented each year by GLOBSEC, a global think-tank based in Bratislava, the Slovak capital, to honor unwavering dedication to strengthening Europe and promoting growth and progress. GLOBSEC said Dr. Birol had been chosen this year because fr...

As part of a global effort to reduce carbon footprint, automotive manufacturers are replacing gasoline with cleaner fuel-less alternatives. As a result, the electric vehicle (EV) transportation segment is experiencing rapid growth. As EVs operated purely on electric power continue to increase market share, the installed battery capacity per vehicle is also increasing. faster charging times Consumers are also demanding faster charging times for larger-capacity batteries. This demand is also sp...

How to make it clear to employees why they are coming to work each day, what they are trying to achieve, and what the purpose of the organization is? And make sure everyone is headed in the same direction? Employees from across the company - Hunt Electric Corporation (and the nation) gathered at CHS Field in St. Paul, to connect and learn about the core values that the company’s Vision Team defined, and celebrate the talented teams that make it all possible. Core values session A glitch...

Atura Power has selected Cummins Inc. to design and manufacture the electrolyzer system for its Niagara Hydrogen center in Niagara Falls, Ont. This will be Ontario’s first 20-megawatt (MW) green hydrogen facility. Cummins’ proton exchange membrane (PEM) electrolysis system will be manufactured at its Mississauga, Ont. facility and become the centerpiece of Atura Power’s Niagara Hydrogen center. Powered by renewable hydroelectricity, the electrolyzer system will split water int...

Fortune magazine just released its prestigious Most Powerful Women in Business list, and Cummins is proud to see our very own CEO, Jennifer Rumsey, amongst the 50 accomplished women recognized this year. “I am truly honored to be included alongside these powerful women leaders,” says Jennifer Rumsey, adding “My life and career have been shaped by instrumental people who helped me see my potential, created an environment that allowed me to be who I am at work, cared about me, a...

Jenkins Electric, an electromechanical service and parts provider, specializing in electric motor repair and test products, as well as a variety of distribution parts, has acquired Wheeler, a sleeve and fluid film-bearing manufacturer based in North Charleston, South Carolina, USA. “This acquisition expands our capabilities and offerings in the industrial motor parts and service industry,” said Iain Jenkins, Jenkins President, adding “From the North Charleston location, Jenkin...

Wurth Elektronik's Asia Production Team will again provide users with interesting insights into the current situation in China and its influence on the procurement of printed circuit boards on the Chinese market. In the document, users will find answers to the questions: What is the situation in the raw materials market? How is the economy developing in China and what does this mean for the PCB industry? What impact does the Chinese government's zero-covid policy have on the PCB market? W...

Siemens Smart Infrastructure and Eplan have signed a strategic partnership to strengthen collaboration in the area of software solutions for the industry and infrastructure market segments. As part of this agreement, Siemens’ Electrical Products business unit will join the Eplan Partner Network, as a strategic partner. Siemens – Eplan Partnership The objective of the partnership is to coordinate the products of both companies in a more targeted manner, in order to offer optimized...

Cummins Inc.’s new Chief Executive Officer urged employees to be advocates for the company’s environmental sustainability strategy, maintaining it is integral to the global power leader’s business strategy and future success. Speaking at a recent virtual town hall meeting to some 2,000 Cummins employees, President and Chief Executive Officer, Jennifer Rumsey said PLANET 2050, the company’s environmental sustainability strategy, is crucial to achieving Cummins’ miss...

Russia’s continued curtailment of natural gas flows to Europe has pushed international prices to painful new highs, disrupted trade flows, and led to acute fuel shortages in some emerging and developing economies, with the market tightness expected to continue well into 2023, according to the IEA’s quarterly Gas Market Report. Natural gas markets worldwide have been tightening since 2021, and global gas consumption is expected to decline by 0.8% in 2022 as result of a record 10% con...

Volta Trucks, the globally renowned and disruptive full-electric commercial vehicle manufacturer and services provider, and Siemens Smart Infrastructure, the pioneer in electrification, have signed a Letter of Intent, outlining cooperation to deliver comprehensive eMobility charging infrastructure and software to Volta Trucks customers, to simplify, de-risk, and accelerate their transition to commercial fleet electrification. commercial vehicle fleet electrification The partnership looks to br...

Volta Trucks, the disruptive full-electric commercial vehicle manufacturer and services provider, has confirmed the details of its first ‘Volta Trucks Hub’ in the UK, serving the battery-electric Volta Zero vehicles that will operate on the streets of London from early 2023. The Hub is the second service and maintenance facility announced by Volta Trucks, after Bonneuil-sur-Marne in Paris, with further centers in other European cities to be announced in due course. Volta Trucks Hub...

QIA (Qatar Investment Authority), the sovereign wealth fund of the State of Qatar, has agreed to invest EUR 2,427.6 million in RWE AG (RWE) to support RWE’s accelerated ‘Growing Green’ strategy. RWE will issue a mandatory convertible bond to a subsidiary of QIA. The bond will be converted into new ordinary bearer shares expected to represent just under 10% of RWE’s existing share capital (and approximately 9.09% of the enlarged share capital post-conversion).  glob...

Light rail transit (LRT) is a form of urban passenger rail transit that combines the features of a tram and rapid transit. While its rolling stock is more similar to a tram than a traditional railway, an LRT operates at a higher capacity and speed than a tram, and often on an exclusive right-of-way.  light rail network In the United States of America (USA), light rail operates primarily along exclusive rights-of-way and uses either individual tramcars or multiple units coupled to for...

UK thermal storage technology company SUNAMP has signed a partnership agreement with Faradise Energy (trading name of Pozbud Inwestycje Sp. z o.o.), a subsidiary of construction and engineering company COMPREMUM S.A, listed on the Warsaw Stock Exchange, in move that could curb gas use across Poland. The agreement will see Sunamp ramp up distribution of its energy-efficient thermal batteries in Central and Eastern Europe in line with the company’s international expansion strategy. The firs...

ABB has reached an agreement to divest to Hitachi, Ltd. (Hitachi) its remaining 19.9 percent equity stake in the Hitachi Energy joint venture that was formed from ABB’s Power Grids business in 2020, with Hitachi holding a stake of 80.1 percent. Hitachi has exercised its call option that was agreed between the parties in December 2018. The call option’s exercise value is US$ 1.679 billion. ABB to provide transition services The companies have agreed to settle remaining obligations...

The upcoming smart meter rollout in Germany will bring additional costs for prosumers. Market players that view these costs as investments can benefit from innovative and attractive new business models – a plea for those preparing and offering customers a seamless overall package. Politicians and regulators are currently preparing for the smart meter rollout in Germany. With optimism, one can interpret the signals from BMWK, BNetzA, and BSI to mean that the nationwide installation o...

Switzerland aims to transition to a net-​zero energy system by 2050. To meet this goal, it will need to replace fossil fuels with renewables. The Swiss government has also taken the decision to phase out nuclear power. As a result, its plans for carbon neutrality will require not only the electrification of transport and heating by means of electric vehicles and heat pumps, but also measures to compensate for the loss of nuclear generating capacity. To meet increased energy demand, Switzerland...

Three power plant units of RWE Power that were previously on standby will return to the electricity market on schedule in October. The German government has issued the necessary ordinance within the framework of the German Act on the Maintenance of Replacement Power Plants (Ersatzkraftwerkebereithaltungsgesetz). The units Neurath C, Niederaussem E, and F are already scheduled to go into operation in the coming days. As with all other power plants, it is up to the operator to deploy the plants...

Zenobē, the EV fleet and battery storage specialist, has selected EDF to continue to be the company’s partner of choice for trading and optimization of its battery assets. EDF and Zenobē have recently renewed their battery trading and optimization contracts for 59MW consisting of the Claredown, Aylesford, and Kings Barn battery assets. This means Zenobē will continue to have access to the full range of flexibility markets including the wholesale market and balancing mechanism, utilizing E...

Schneider Electric, the pioneer in the digital transformation of energy management and automation, has appointed Joshua Dickinson as the new Senior Vice President and Chief Financial Officer, North America. In his role, Dickinson will be responsible for all financial operations of the ~8.2 billion euro (FY ’21) North America region, including driving profitable growth, navigating the current business landscape while protecting the P&L, and supporting global peers on multiple global in...

RECOM has extended its range of DC/DC converters with a 3W version of their isolated RSH series in a surface-mount format with wide input ranges. RSH3 DC/DC converter features The RECOM RSH3 DC/DC converter is an addition to the successful RSH2 series featuring fully regulated, low-noise, and isolated 3W outputs in a surface mount package. The series features nominal inputs of 12V (9–18V) and 24V (18–36V), which are useful for battery or bus-powered systems, while the outputs avai...

Orcan Energy has installed its solution for waste heat for the first time on a river cruise ship. Currently the largest Rhine cruise ship, A-ROSA SENA, owned by A-ROSA Flussschiff GmbH, has installed one of Orcan Energy's ORC modules, designed specifically for the marine market.  E-Motion ship The E-Motion ship, with a hybrid propulsion system consisting of a diesel engine and an electric motor, can convert the waste heat from the ship's engines into electrical energy, reducing its fuel c...

EDF provides an update on its UK nuclear generation business to help develop an understanding of its role in short-term energy security, as well as help the UK deliver longer-term policy objectives. EDF owns and operates eight nuclear power stations across the UK, five that are generating and three in the defueling phase. It is building Hinkley Point C in Somerset and there are plans to develop a sister station at Sizewell C, with a final investment decision due in 2023. EDF’s role in sh...