Search This Blog

Saturday, August 1, 2015

Commercial Distribution Finance and Husqvarna Group Extend Strategic Inventory Finance Program

From GE:


Commercial Distribution Finance and Husqvarna Group Extend Strategic Inventory Finance Program

  Share0 
 
CHICAGO – Commercial Distribution Finance (CDF), a division of GE Capital, announced today that it has extended its strategic inventory finance program with outdoor power equipment manufacturer Husqvarna Group. The program goes to market as Husqvarna Financial Services, which was established in 2005 to provide inventory financing to the thousands of dealers who sell Husqvarna products.

Husqvarna, headquartered in Charlotte, NC, manufactures consumer and commercial lawnmowers, trimmers, brush cutters, chainsaws, snow blowers and ground care equipment. Husqvarna Financial Services is a private-label program set up through CDF, which has a dedicated national account management team servicing the needs of Husqvarna and its distribution network.

“We value the innovative financial programs that CDF offers, and Husqvarna Financial Services gives our dealers the financing and support they need to be successful, “ said Jeff Dewosky, vice president and general manager of Husqvarna North America. “We also appreciate that the CDF team proactively solicits feedback from our dealers and works closely with them to make adjustments when needed.”

 “Husqvarna Financial Services is a great example of how we work closely with our customers to create custom programs that meet the needs of both the manufacturer and the dealers,” said Mike Horak, president of the outdoor products group at CDF. “We are pleased to extend the program and will continually strive to provide a best-in-class customer experience for Husqvarna and its dealers.”

About Commercial Distribution Finance
Commercial Distribution Finance (CDF) provided $46 billion in financing for more than 40,000 dealers and more than 2,000 distributors and manufacturers globally in 2014.  CDF operates in 60 countries and provides inventory financing solutions, service and intelligence through in-depth industry expertise and commitment. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management, and related financial products. For more information, visitgecdf.com or follow company news via Twitter (GEInventoryFin).
GE (NYSE: GE) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world. www.ge.com

First Nugget Ice Maker for Home Use Launches

From GE:


First Nugget Ice Maker for Home Use Launches

  Share0 
 
Dawn of a New Ice Age—GE’s FirstBuild™ Debuts Countertop Nugget Ice Maker: Opal™
LOUISVILLE, Ky.— July 22, 2015—Nugget ice, the popular soft, chewable ice especially favored in the South and associated with restaurant chains and convenience stores, can now be enjoyed at home with the affordable Opal™ nugget ice maker from GE’s FirstBuild™.
Available to purchase starting July 28 through Indiegogo (www.nuggetice.com), Opal is a countertop nugget ice maker designed by the FirstBuild community and priced well below other currently available nugget ice makers. Early bird pricing begins around $399 or less, with future retail pricing expected at $499. The ice maker will be shipped to Indiegogo contributors in mid-2016.
FirstBuild is a new model of manufacturing that challenges makers around the world to ideate and help design innovations in home appliances. In March of this year, FirstBuild challenged its community to design a residential ice maker that would appeal to nugget ice enthusiasts. The design of Opal is a result of ideas generated by the maker community.
The Opal nugget ice maker works by packing together small ice crystals, creating nuggets of soft yet crunchy ice. Nugget ice chills beverages faster than conventional ice cubes. The air pockets in each nugget also absorb the flavor of the drink while cooling, leaving a chewable and tasty refreshment for those who enjoy snacking on ice after they have finished their drink.
Opal is a compact countertop design that plugs into any electrical outlet and holds 3 pounds of ice, about as much as a typical refrigerator. Opal produces its first nuggets in just 15 minutes, and can produce 1 pound of ice per hour. The elegant stainless steel unit includes a crystal-clear, removable ice bin that slides out and tilts forward for easy access to the ice.
 “We know from our consumer surveys that people prefer nugget ice over crescent ice by about three to one,” said Natarajan Venkatakrishnan, director of FirstBuild. “We developed Opal to offer an affordable nugget ice maker for home use and we are using Indiegogo as a selling platform to gauge market acceptance of the product.”
About FirstBuild
GE’s FirstBuild is a global co-creation community that harnesses the brainpower of the maker movement to change the way major home appliances are conceived, designed and manufactured. A physical state-of-the-art microfactory on the University of Louisville campus and online forum, FirstBuild speeds products from mind to market and enables customization through small batch production, without the costs and risks of traditional mass manufacturing. For more information about how to get involved, visit FirstBuild.com.

GE Oil & Gas to provide advanced turbomachinery for landmark TANAP project

From GE:


GE Oil & Gas to provide advanced turbomachinery for landmark TANAP project

  Share12 
 
  • Multi-million dollar contract to provide aeroderivative gas turbines with compressors, leveraging the ‘GE store’ to deliver innovative solutions for GE’s customers
  • Underlines GE’s long-term commitment to Turkey through localization initiatives
  • GE’s gas turbines bring high levels of operational efficiency and low emission levels 
Dubai, UAE; July 21, 2015: GE Oil & Gas (NYSE: GE) will provide high-end turbomachinery for Phase 1 of the landmark Trans-Anatolian Natural Gas Pipeline (TANAP) - a partnership between the State Oil Company of Azerbaijan (SOCAR), Turkey's state-owned BOTAÅž (Petroleum Pipeline Corporation), and BP - that will transport gas from Azerbaijan via Turkey to European energy markets providing benefits of uninterrupted gas flow as well as security and diversification of energy resources.

The multi-million dollar contract provides critical systems referred to as "the heart of the pipeline" comprising aeroderivative gas turbine driven centrifugal compressor packages - also known as turbo-compressor trains - all manufactured, packaged and tested by GE Oil & Gas in Florence (Italy) for shipment in 2017.

The deal supports the commissioning of Phase 1 of TANAP scheduled to come online in 2018. GE Oil & Gas’ state-of-the-art equipment was successful in being chosen due to its high levels of operational efficiency as well as lower emissions and lower maintenance.

This is an example of the ‘GE Store’ at work – when technologies and expertise are drawn from across the company. In this case aeroderivative gas turbines technologies from GE Aviation are applied to the oil and gas industry.

Rami Qasem, President & CEO, GE Oil & Gas MENAT, said: “We are pleased to be providing technologically advanced GE O&G solutions for the prestigious TANAP project and building partnerships and trust with SOCAR, BOTAÅž and BP. This marks a key milestone for GE Oil & Gas and underlines our long-term commitment to Turkey where GE has been driving several localization initiatives as part of its US$900 million investment announced in 2012 in support of Turkey’s Vision 2023.”

He added: “The contract reiterates our commitment and proven track-record to support game-changer projects, such as TANAP that will not only support local economies through job creation and economic value but also strengthen the energy security of markets across Europe.”

With its facilities in four cities and almost 900 employees, GE today powers more than 50 per cent of the electricity generated from natural gas in Turkey; 60 per cent of the airplanes in the country have GE/CFM engines and some 15,000 GE Healthcare technologies are used daily across various hospitals. GE’s continued investments will further strengthen its partnerships in these key growth areas, and in turn, contribute to creating new opportunities for the Turkish people.
-ends-

Join the conversation at our GE Turkey blog: http://geturkiyeblog.com/

Note to Editors

About GE:
GE (NYSE: GE) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world. www.ge.com

About GE Oil & Gas:
GE Oil & Gas works on the things that matter in the oil and gas industry.  In collaboration with our customers, we push the boundaries of technology to bring energy to the world. From extraction to transportation to end use, we address today's toughest challenges in order to fuel the future.www.geoilandgas.com. Follow GE Oil & Gas on Twitter @GE_OilandGas

GE AND STATOIL COLLABORATION ANNOUNCES WINNERS OF INAUGURAL OPEN INNOVATION CHALLENGE

From GE:


GE AND STATOIL COLLABORATION ANNOUNCES WINNERS OF INAUGURAL OPEN INNOVATION CHALLENGE

  Share10 
 
Five Winning Technologies Address Alternatives for Sand in Shale Development


HOUSTON, 21 July: GE and Statoil’s Sustainability Collaboration announced today the five winners of its inaugural Open Innovation Challenge that focused on addressing the use of sand in unconventional operations.
Sand plays a critical role in shale development and the hydraulic fracturing process. The proppant is mixed with water and injected into a formation to “stimulate” or “prop open” the tiny fractures, enabling oil and natural gas to flow freely.
Well stimulation requires hundreds of truck trips to transport materials, which increases road wear and traffic as well as noise, dust and emissions. By focusing on sand, the crowdsourcing Challenge looked for solutions that have the potential to reduce the environmental impacts on local communities, lessen emissions and make energy production more efficient.
“Proppant and water are the most trucked materials in hydraulic fracturing,” said Lars Høier, Senior Vice President, Research, Development & Innovation, Statoil ASA.  “Therefore the overarching objective of the Sand Challenge was to reduce truck trips by addressing the use and composition of proppants. We were seeking both a lighter or more compact replacement for currently used proppants and/or new types of fluid or fluid additives that better suspend the proppant and are more efficient.  The end game is to develop a diverse portfolio of technologies that help reduce the environmental footprint, while enhancing operational efficiencies.”
The Powering Collaboration judge panel, consisting of both technical experts and management from both companies, evaluated more than 100 submissions from applicants from over 30 countries.  
“It is exciting and gratifying to note the quality and quantity of responses, and that many were from industries not related to energy,” stated Eric Gebhardt, Chief Technology Officer, GE Oil and Gas. “The positive response and excellence of the winning submissions underscore the value of open innovation and the significance of industry collaboration to bring great ideas not only to the table, but to reality. We are eager to explore these collaborative solutions more as we move toward future testing, development and potential commercialization.”
The winners will each be awarded an initial cash prize of $25,000 USD, and will be eligible to receive additional funding from an available discretionary prize pool of $375,000 USD for potential development or commercialization upon meeting certain additional conditions.
More information about the winners can be found at poweringcollaboration.com. Brief summaries of each winner are listed in alphabetical order below:
Bioastra Technologies, Montréal, Quebec
Solution: Lightweight, Expandable Polymer Proppant. Composite particles that swell up to ten times their initial size in liquid. They are also pliable and able to conform to small cracks in the formation. Similar to material used for artificial cartilage and occlusion agents for surgery.

Biopolynet, Fredericton, New Brunswick
Solution: Coiled Biopolymer Fluid Additive. Makes fluid more viscous, better suspending proppants and enables proppants to adhere to the surface of fissures in the formation.

Hoowaki, Pendleton, South Carolina
Solution: Alumina Ceramic Proppant in the Shape of an “X”. Developed with Shell, the unique X shape creates a drag, reducing settling by up to 50 percent and wedges itself into fractures helping them stay open and prevent the proppant from flowing back.

Semplastics, Oviedo, Florida
Solution: Lightweight Polymer Proppant. Polymer-Derived Ceramic-based proppant is half the density of sand, resilient to corrosion, as well as extreme heat and crush resistant. 

University of North Dakota Energy & Environmental Research Center, Grand Forks, North Dakota
Solution: Lightweight, Locally Sourced Ceramic Proppant. Made from local widely available non-premium ore is approximately 40 percent less dense than current ceramic proppants. 

The second Open Innovation Challenge – focusing on water in unconventional energy development – was just announced and remains open for submissions until September 24, 2015. That challenge seeks to find innovative solutions for reducing water usage in the development of onshore unconventional oil and gas reservoirs. Through crowdsourcing, the Challenge seeks to find innovative solutions for both reducing fresh water usage and treating and reusing water from development activities—while maintaining or improving productivity.
For more information on both Challenges please visit poweringcollaboration.com for updates, submission forms, and winner profiles.  Both Challenges are subject to Official Rules (Sand Official Rules) (WaterOfficial Rules).
-ends-

Stephanie Cathcart                                                                          
Head of External Affairs                                                              
GE Oil & Gas                                                                                
O +1 202 637 4108                                                                        
E. Stephanie.cathcart@ge.com                                                          
Kirsten Henriksen 
​Communications Manager – US Onshore 
​Statoil
M +1 713 269 8927
E. khen@statoil.com
About GE
GE (NYSE: GE) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world. www.ge.com

About GE Oil & Gas
GE Oil & Gas is inventing the next industrial era in the oil and gas sector. In our labs and factories, and in the field, we constantly push the boundaries of technology to solve today’s toughest operational & commercial challenges. We have the skills, knowledge and technical expertise to bring together the physical and digital worlds to fuel the future. www.geoiland.com Follow GE Oil & Gas on Twitter @GE_OilandGas.

About Statoil
Statoil is an international energy company with operations in 37 countries. Building on more than 40 years of experience from oil and gas production on the Norwegian continental shelf, we are committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. Statoil's headquarter is in Stavanger, Norway with approximately 23,000 employees worldwide, and the company is listed on the New York and Oslo stock exchanges.