AGCO, Deutz, ZF, Siemens, TotalEnergies, Ballard, MAN ES/Mitsui, Lhyfe, Interact Analysis, ABI Research, MAN ES/FPSO vessel

Powertrain International weekly edition

Powertrain International weekly newsletter View this email in your browser This week's highlights - 26/03/2024 AGCO invests in Linnavuori plant to increase sustainable product offerings AGCO is announcing a EUR 70 million investment in its Linnavuori plant in Nokia, Finland, to accelerate further clean energy innovations... Read more Deutz results: revenue up by almost 8 % in 2023 Within a persistently challenging macroeconomic environment, Deutz stayed on course in the 2023 financial year and achieved record results for revenue EBIT. The drive manufacturer grew its revenue by 7.8 % to around €2.1 billion... Read more ZF reaches financial targets for 2023 ZF increased turnover to 46.6 billion euros (2022: 43.8 billion euros) and achieved its financial targets for 2023. Going forward, 18 billion euros of targeted investments are planned by 2026... Read more Siemens to acquire drive technology business of ebm-papst Siemens has signed an agreement to acquire the industrial drive technology (IDT) business of ebm-papst. The planned acquisition will complement the Siemens Xcelerator portfolio... Read more TotalEnergies partners with major international companies to support e-NG development  TotalEnergies and its partners – Engie, Mitsubishi Corporation, Osaka Gas, Sempra Infrastructure, TES, Tokyo Gas and Toho Gas – are pooling their expertise and efforts to establish the "e-NG Coalition", whose purpose is to support e-NG development in a reliable, affordable and sustainable way... Read more Ballard to get $40 million grants to build production gigafactory in Rockwell, Texas The grants will support Ballard's construction and build-out of an integrated fuel cell production Gigafactory based in Rockwall, Texas. In Phase I, Ballard plans to invest approximately US$160 million (net of the US$40 million in expected DOE grants) from 2024 through the end of 2027 to build and commission a new manufacturing facility... Read more Mitsui E&S takes delivery of largest-ever SCR from MAN Energy Solutions MAN Energy Solutions has announced the production of a massive Cluster 5 Double Layer SCR (Selective Catalytic Reduction) catalytic converter for customer, Mitsui E&S Co., Ltd. The cluster comes ammonia-ready and is the largest such unit that the company has ever built... Read more Lhyfe receives from the French government a grant for production of green hydrogen in Le Havre Lhyfe has received confirmation from the French government of a financial support in the form of a grant of up to €149 million for the construction of a green hydrogen production plant with an installed electrolysis capacity of 100 MW near Le Havre. This project has been approved by the European Commission as part of the third wave of IPCEI on hydrogen... Read more [Interact Analysis] Forecasts for the global forklift market Interact Analysis has recently updated its forecasts for the global forklift market. It was initially expected that the market would decline in 2024. However, North America actually saw a significant increase in order volume in the final quarter of 2023. In China, sales in January 2024 experienced a YoY increase of 90.4%. Read this insight by Maya Xiao, Research Manager at Interact Analysis... Read more ABI Research: Battery storage to become a critical smart energy enabler According to a new report from global technology intelligence firm ABI Research, the worldwide aggregated battery storage capacity in the C&I segment will reach 124 GWh by 2030, growing at a CAGR of 31,6%... Read more MAN Energy Solutions lands major compressor order for FPSO vessel Offshore Frontier Solutions Pte. Ltd., a MODEC Group company, has commissioned MAN Energy Solutions with the delivery of eleven RB-type compressor trains. The compressor trains will be installed on an FPSO (Floating Production Storage and Offloading) vessel for the Raia project, in the Campos Basin, approximately 200 kilometers off the coast of Rio de Janeiro... Read more Have you got questions or need information? Send us an email HERE! Follow Powertrain International on the social media! **The March issue is out** Click the cover to browse the whole magazine! 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