Pratt & Whitney, a group company of United Technologies Corporation (UTX), has entered into a contract with Sopogy, Inc., of Hawaii for supplying two Turboden Organic Rankine Cycle (ORC) systems.
The 5.5 MW project will be based in Hawaii with two Turboden Organic Rankine Cycle systems that will take heat energy from Sopogy’s MicroCSP solar collectors into a receiver tube which then heats up a fluid to create the high-temperature thermal resource. The heated fluid then becomes the fuel to power the ORC units.
This is the first project involving Pratt & Whitney’s ORC systems in solar-thermal application. Installation is expected to begin during the fourth quarter of 2011.
Pratt & Whitney segment supplies aircraft engines to the commercial, military, business jet and general aviation markets. It also manufactures aerospace propulsion systems for the U.S. space shuttle program.
United Technologies has strong market positions in aerospace/defense and global infrastructure with a portfolio that includes: Carrier, Otis, Hamilton Sundstrand, Pratt & Whitney, Sikorsky and Fire & Security.
United Technologies will be one of the few companies that can take advantage of strategic M&A once liquidity is restored and functioning M&A markets re-emerge, which are more likely in the remainder of FY2010.
The company is highly dependent on the U.S. government’s defense budget. Its business may also be affected by government contracting risks.
The company designs, manufactures and services products that incorporate advanced technologies. The introduction of new products and technologies involves risks pertaining to acceptance, market and reputation which may not be correctly anticipated.
United Technologies provides high technology products and services to the building systems and aerospace industries worldwide. Honeywell International (HON) is a primary competitor.
We currently have a Neutral recommendation on United Technologies Corporation.
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