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Here’s your Cheat Sheet to the week in Dow 30 industrial stock news:
General Electric Company (NYSE:GE): Current price $22.26
The automobile maker BMW Group has once again installed four Jenbacher J616 cogeneration modules made by GE’s Gas Engines distributed power tech at BMW’s Regensburg factory in Bavaria. The cogeneration plant is generating 10.7 megawatts of reliable on-site power and providing around 30 percent of the factory’s energy requirements. In addition to supplying electricity, the cogeneration plant is capturing and employing 9.6 MW of engine waste heat in support of the factory’s production processes.
On Thursday, GE and Toshiba Corporation signed a memorandum of understanding through which to create a worldwide strategic alliance, under which the firms would jointly develop select combined-cycle power generation projects globally. In addition, under the MOU, the parties will explore the creation of a strategic joint venture for the development of next-generation combined-cycle power projects having higher levels of thermal efficiency. Last year, GE and Toshiba won a contract to provide the new FlexEfficiency tech to Chubu Electric Power’s Nishi Nagoya Thermal Power Plant in Japan. This system is being jointly configured to achieve the world’s highest thermal efficiency of 62 percent.
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