Press Release: Pratt & Whitney Rocketdyne and Zero Emission Energy Plants, Inc. Sign Gasification Licensing Agreement
United Technologies Corporation provides a broad range of high technology products and services to the building systems and aerospace industries. Those products include Pratt & Whitney aircraft engines space propulsion systems and industrial gas turbines; Carrier heating air conditioning and refrigeration; Otis elevator escalator and people movers; Hamilton Sundstrand aerospace and industrial products; Sikorsky helicopters and International Fuel Cells power systems. (Company Press Release) United Technologies Corp. has a market cap of $46.8 billion; its shares were traded at around $48.65 with a P/E ratio of 9.9 and P/S ratio of 0.85. The dividend yield of United Technologies Corp. stocks is 3.17%. United Technologies Corp. had an annual average earning growth of 13.6% over the past 10 years. GuruFocus rated United Technologies Corp. the business predictability rank of 3-star.
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Press Release:CANOGA PARK, Calif.
, Dec. 9
/PRNewswire/ -- Pratt & Whitney Rocketdyne(PWR) has signed a global licensing agreement that grants Zero Emission EnergyPlants, Inc. (ZEEP) the right to construct and operate gasification plantsthroughout the world using PWR's compact gasification technology. Thewidespread use and availability of PWR's technology could decrease energycosts, enhance energy security, and reduce greenhouse gas emissions. Pratt &Whitney Rocketdyne is a United Technologies Corp. (NYSE: UTX) company. Under this agreement, ZEEP will work closely with PWR to develop andoperate gasification plants around the world, including a futurecommercial-scale demonstration plant. ZEEP is currently evaluating sites inChina
, the United States
for that plant. "We're excited to see our gasification technology taking this crucial steptoward the marketplace so we can help lower energy costs, provide cleaneralternative fuels and improve energy security," said Jim Maser
, president,Pratt & Whitney Rocketdyne. "ZEEP brings expertise in the oil and natural gasindustry and an innovative business plan. That, coupled with our experience ingasification and technology development, makes this an ideal relationship." Gasification converts carbon-containing material such as coal, petroleumcoke, and biomass into synthesis gas (syngas), which can be used to produceelectricity or further processed to manufacture chemicals, fertilizers,transportation fuels, substitute natural gas or hydrogen. The PWR gasifier isabout one-tenth the size of competing systems, and offers the potential to bemore efficient, reliable and affordable. It is also expected to reduce thecost of carbon dioxide capture and sequestration. "We chose to collaborate with ZEEP as our first launch customer because oftheir unique business model and experience leveraging new technologies intoprofitable businesses," said Jim Hartung
, Energy Systems director, PWR. "Weare pleased to team with ZEEP to commercialize our compact gasificationtechnology." Pratt & Whitney Rocketdyne, Inc., a part of Pratt & Whitney, is apreferred provider of high-value propulsion, power, energy and innovativesystem solutions used in a wide variety of government and commercialapplications, including the main engines for the space shuttle, Atlas andDelta launch vehicles, missile defense systems and advanced hypersonicengines. Pratt & Whitney is a world leader in the design, manufacture and serviceof aircraft engines, space propulsion systems and industrial gas turbines.United Technologies, based in Hartford, Conn.
, is a diversified companyproviding high technology products and services to the global aerospace andbuilding industries.
Bryan Kidder Carri Karuhn Pratt & Whitney Rocketdyne Pratt & Whitney Rocketdyne 818 586-2213 818 586-4963 firstname.lastname@example.org email@example.com
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