General Electric Company (NYSE:GE) recently announced a multi-year joint development agreement with Cascade Technologies Corp to apply new technologies to improve the next generation of gas turbines. Cascade Technologies develops and supports analysis tools for engineering applications.
This collaboration is expected to deliver higher efficiency and lower emissions in gas turbines by applying and improving simulation software that enables engineers to look inside a working gas turbine and increase durability in future products. This agreement is a win-win situation for both the companies.
The advanced engineering designs by General Electric and improved software by Cascade will help engineers to review the combustion process to gain a better understanding of the turbulent fluid, chemical and acoustic processes. The enhanced visualization capabilities are likely to advance new product introductions.
General Electric continues to retain its position as the global leader in the energy industry with new technology and innovations. The company’s current HA gas turbines are designed to deliver more than 61% combined cycle efficiency.
General Electric is one of the largest and most diversified technology and financial services corporations in the world. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and industrial products. Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions and GE Capital.
General Electric currently has a Zacks Rank #3 (Hold).