xG Technology’s Vislink Business Provides Support for Kiel Week
xG Technology Inc (NASDAQ:XGTI) Vislink business is providing wireless camera transmission capabilities to support the live stream broadcast of the largest sailing event in the world.
Vislink equipment has been deployed by Sales Cube GmbH (“Sales Cube”), Vislink’s official reseller in Germany, at the Kiel Week Regatta (also known as Kieler Woche), which runs from June 17th to June 25th, 2017. In addition to being the largest sailing event in the world, Kiel Week is the largest summer festival in northern Europe. Held in Kiel, Germany, it brings together close to 5,000 sailors, 2,000 ships, and approximately three million visitors from around the world each year.
“IMT and Vislink solutions remain the trusted choice of broadcast professionals for capturing unique views and transmitting action from iconic events and locations,” said George Schmitt, Executive Chairman and CEO of xG Technology. “High-profile events like the renowned Kiel Week demand the performance, range, reliability and flexibility that our systems provide.”
The project called for the deployment of a new watercraft-based wireless transmission system to feed into the live stream broadcast from the event. Sales Cube worked with Vislink to specify an equipment list that would enable reliable ship-to-shore live transmission of footage while minimizing power consumption and payload.
Among the Vislink equipment being used is a next-generation, highly customizable wireless camera transmission system capable of supporting the dynamic action of live sporting events, as well a suite of diversity receivers and decoders targeted at compact wireless camera & microwave link use. Additional Vislink components were incorporated to optimize the video transmission and maintain image quality.
Martin Geritz, Head of Sales for Sales Cube, said, “Sales Cube is a proud partner and reseller of Vislink solutions and furthermore helps all customers with special developments and integration, as well as onsite support if required.”
Shares of XG Technology are up nearly 2% to $2.05 in pre-market trading Wednesday. XGTI has a 1-year high of $15.90 and a 1-year low of $0.32. The stock’s 50-day moving average is $1.73 and its 200-day moving average is $1.61.
xG Technology, Inc. engages in the development of patented wireless communications and spectrum sharing technologies. It operates through the following segments: Broadcast, Sports and Entertainment, and Government/Surveillance.
General Electric Renewable Energy Signs Agreement with Shimizu Corporation
General Electric Company (NYSE:GE) Renewable Energy announced an agreement with Shimizu Corporation to supply 22 units of GE’s 3.2-103 wind turbines, for the Akita Katagami wind farm in the Akita prefecture in northern Japan.
A Special Purpose Company (SPC) made up of Venti Japan, Mitsubishi Power Corp and C-Tech will operate the wind farm once it is commissioned. The project will provide 66 MW of power, enough to power the equivalent of 40,000 homes in Japan. The deal also includes a 15-year service agreement for the wind farm, and GE will establish a satellite facility for service and maintenance in Akita.
The Akita Katagami wind farm will have the country’s largest installation in terms of wind farm capacity of GE’s 3.2*-103 turbines, which were designed for Japan’s unique wind conditions and terrain. The turbines, which will be the largest class of wind turbines in Japan, feature strengthened drive trains, upgraded electrical systems, advanced lighting protection, and reinforced towers and blades. Japan has a strong demand for cost-competitive renewable energy, and the wind power produced from these turbines will generate power at a lower cost rather than previous models currently used in the region.
“We are delighted to launch our 3.2-103 turbine in Japan for the Akita Katagami Wind Farm, and help the Akita prefecture move closer to their renewable energy goals,” said Pete McCabe, President & CEO of GE’s Onshore Wind Business. “By committing to provide the residents of Akita with affordable, reliable and sustainable wind power generation, and building a new, local service and maintenance facility, we will also help to bring jobs to the region.”
“GE Renewable Energy is a leading wind turbine manufacturer and long term service and maintenance provider,” said Hiroyuki Sato, President Akita-Katagami Wind Farm LLS and Venti Japan Inc. and Akita Katagami. “GE’s expertise in global wind market would be valuable for Venti as we are working for indispensable projects one after another to further establish more competitive wind power business in Japan”
GE is establishing itself as an important provider of wind turbines in Japan with more than 400 turbines installed and under construction in the country to date. Construction of the Akita Katagami Wind Farm has begun in April 2017, and commercial operation will begin in May 2020. The service and maintenance agreement also includes digital solution proposals over the course of the contract.
Shares of General Electric closed yesterday at $28.13, down $0.67 or -2.33%. GE has a 1-year high of $33 and a 1-year low of $27.10. The stock’s 50-day moving average is $28.27 and its 200-day moving average is $29.84.
On the ratings front, General Electric has been the subject of a number of recent research reports. In a report issued on June 13, Stifel Nicolaus analyst Robert McCarthy reiterated a Buy rating on GE, with a price target of $33, which implies an upside of 17% from current levels. Separately, on June 12, Deutsche Bank’s John G. Inch maintained a Sell rating on the stock and has a price target of $24.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Robert McCarthy and John G. Inch have a yearly average return of 12.8% and 12.7% respectively. McCarthy has a success rate of 77% and is ranked #318 out of 4569 analysts, while Inch has a success rate of 74% and is ranked #709.