Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  General Electric Company    GE

GENERAL ELECTRIC COMPANY

(GE)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

General Electric Company : GE Energy Storage Announces First European Sale of DMS-Integrated Energy Storage Systems

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/04/2013 | 08:35am EST

Advanced energy storage technology to increase capacity and lower costs over time

GE's [NYSE: GE] Energy Storage business announced today the first European sale of its Durathon* energy storage system. Western Power Distribution (WPD), a major distribution network operator in the U.K, will install five Durathon 100 kilowatt-hour energy storage systems during Q3 2013 as part of "Project FALCON" (Flexible Approaches to Low Carbon Optimized Networks), a four year project led by WPD.

The project is partially funded through the U.K. Office of Gas and Electricity Markets' (Ofgem's) Low Carbon Network Fund and aims to develop a new computer-based modeling tool to identify the best way of delivering investment on the network. The system will be able to identify the most cost effective 'smart' or 'conventional' way of delivering additional network capacity to facilitate the UK Low Carbon Transition Plan. One of the 'smart' methods being trialed is Energy Storage.

"We selected the Durathon energy storage system because it provides the performance and functionality we need while being small enough to fit into our network's substations," said Ben Godfrey, Innovation and Low Carbon Networks Engineer with WPD. "The real-time performance data collected during the trial will help us manage our network more efficiently, which, in the long run, should minimise costs for customers."

The project will be the first time that GE Energy Storage has integrated its Durathon energy storage system with a distribution management system (DMS) in the European market. WPD plans to install 100 kilowatt-hour systems at five of its high voltage substations in Milton Keynes, located 45 miles northwest of London.

"This trial will demonstrate the impact that the Durathon energy storage system can have in a real-world, utility distribution network," said Prescott Logan, General Manager of GE Energy Storage. "It is designed to provide vital data that can be used to enhance utility services and reduce operating expenses -- a savings that could ultimately be passed on to customers."

During the trial, WPD plans to use the Durathon systems to enhance network efficiency through voltage support, improved power quality and electrical noise reduction. The energy storage systems also are expected to help WPD defer expensive network upgrades.

*Durathon is a trademark of General Electric Company.

About Western Power Distribution

Western Power Distribution is the electricity distribution network operator for the Midlands, South Wales and the South West regions of the United Kingdom. The company delivers electricity to more than 7.7 million customers over a 55,300 square kilometers service area. Its network consists of 216,000 km of overhead lines and underground cables, and 184,000 substations.

Ofgem's Low Carbon Networks Fund was established as part of its current price control arrangements for electricity distribution businesses (DNOs). It allows up to £500million of support between 2010 and 2015 to projects sponsored by companies that trial new technology, operating and commercial arrangements.

WPD now has five Tier Two projects and eleven of the 34 Tier One projects. This is more than any other U.K. Distribution Network Operator for both categories.

About GE's Energy Storage Business

GE Energy Storage, a unit of GE Transportation, works to enable safer, efficient and cost effective storage, distribution and utilization of energy where it's needed and when it's needed. As a global technology leader and supplier of advanced battery energy storage systems, we provide Durathon Battery modules and complete energy storage solutions to the Telecom, Energy Management, Power Generation, Grid Operation, Backup and Motive power industries. GE Energy Storage is headquartered in Schenectady, New York, U.S.A. To learn more visit www.geenergystorage.com.

About GE Transportation

GE Transportation, a unit of GE (NYSE: GE), solves the world's toughest transportation challenges. GE Transportation builds equipment that moves the rail, mining and marine industries. Our fuel-efficient and lower-emissions freight and passenger locomotives, diesel engines for rail, marine and stationary power applications, signaling and software solutions, drive systems for mining trucks, underground mining equipment, energy storage systems, and value-added services help customers grow. GE Transportation has approximately 13,000 employees. For more information visit www.getransportation.com.

GE Transportation
Media:
Robert W. Donahue
+1 814-875-2755 (office)
+1 814-392-7606 (cell)
robert.donahue1@ge.com


© Business Wire 2013
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GENERAL ELECTRIC COMPANY
10:11aGENERAL ELECTRIC : Worry Over Arco and GE's Unending Dispute
AQ
09:11aGENERAL ELECTRIC : Emirates and GE Aviation Expand Digital Partnership
BU
09:05aGENERAL ELECTRIC : GE Renewable Energy announces 350 MW order for Foard City Win..
PU
05:54aReplacing Pratt engines in IndiGo fleet by end of January a challenge - CEO
RE
11/17GENERAL ELECTRIC : GECAS Expands SalamAir's Fleet with Two New A321neos
PU
11/17GENERAL ELECTRIC : Milestone Expands Falcon Aviation Relationship with Lease of ..
PU
11/14GENERAL ELECTRIC : GE Achieves Record Transmission of Power on a Super Energy Hi..
BU
11/13MARKETS RIGHT NOW : Banks lead early losses for US stocks
AQ
11/13GENERAL ELECTRIC : GE Renewable Energy announces 494 MW orders with ENGIE for pr..
PU
11/12GENERAL ELECTRIC : GE Aviation signs 12-year Systems TrueChoice services and sup..
AQ
More news
Financials (USD)
Sales 2019 103 B
EBIT 2019 10 071 M
Net income 2019 960 M
Debt 2019 48 808 M
Yield 2019 0,36%
P/E ratio 2019 45,7x
P/E ratio 2020 22,1x
EV / Sales2019 1,45x
EV / Sales2020 1,32x
Capitalization 101 B
Chart GENERAL ELECTRIC COMPANY
Duration : Period :
General Electric Company Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends GENERAL ELECTRIC COMPANY
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 11,13  $
Last Close Price 11,52  $
Spread / Highest target 21,5%
Spread / Average Target -3,39%
Spread / Lowest Target -56,6%
EPS Revisions
Managers
NameTitle
H. Lawrence Culp Chairman & Chief Executive Officer
Jamie S. Miller Chief Financial Officer & Senior Vice President
Victor Abate Chief Technology Officer & Senior Vice President
James J. Mulva Independent Non-Executive Director
William Geoffrey Beattie Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
GENERAL ELECTRIC COMPANY52.18%100 610
HONEYWELL INTERNATIONAL INC.37.56%129 866
SIEMENS AG18.09%100 298
3M COMPANY-9.79%98 840
ILLINOIS TOOL WORKS INC.38.26%56 297
HITACHI, LTD.46.58%36 765