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AEP Reports Strong Third-Quarter 2020 Earnings

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COLUMBUS, Ohio, Oct. 22, 2020 /PRNewswire/ —


AMERICAN ELECTRIC POWER

Preliminary, unaudited results




Third Quarter ended September 30,


Year-to-date ended September 30,



2020


2019


Variance



2020


2019


Variance



Revenue ($ in billions):

4.1


4.3


(0.2)



11.3


11.9


(0.6)



Earnings ($ in millions):









GAAP

748.6


733.5


15.1



1,764.6


1,767.6


(3.0)




Operating (non-GAAP)

728.2


722.3


5.9



1,765.9


1,800.7


(34.8)












 EPS ($):









GAAP

1.51


1.49


0.02



3.56


3.58


(0.02)




Operating (non-GAAP)

1.47


1.46


0.01



3.56


3.65


(0.09)




EPS based on 496 million shares 3Q 2020, 494 million shares 3Q 2019, 495 million shares YTD 2020 and 494 million shares YTD 2019.


American Electric Power (Nasdaq: AEP) today reported third-quarter 2020 earnings, prepared in accordance with Generally Accepted Accounting Principles (GAAP), of $749 million or $1.51 per share, compared with GAAP earnings of $734 million or $1.49 per share in third-quarter 2019. Operating earnings for third-quarter 2020 were $728 million or $1.47 per share, compared with operating earnings of $722 million or $1.46 per share in third-quarter 2019. Operating earnings is a non-GAAP measure representing GAAP earnings excluding special items. The difference between 2020 GAAP earnings and operating earnings for the quarter was primarily driven by the impacts of a federal tax benefit from the CARES Act and the company’s Achieving Excellence cost savings and efficiency program.

A full reconciliation of GAAP earnings to operating earnings for the quarter and year-to-date is included in the tables at the end of this news release.

“We continue to execute on our strategy and achieve strong earnings performance in line with our targeted guidance range for the year, despite the significant challenges presented by the COVID-19 pandemic. Our employees have done an amazing job adjusting to new ways of working over the last seven months and have remained focused on delivering essential power to our customers safely and efficiently,” said Nicholas K. Akins, AEP chairman, president and chief executive officer.  

“The critical investments we’ve been making in the grid to enhance reliability and resiliency, replace aging equipment and support renewable energy development have remained on track. Our Transmission Holding Co. business contributed 28 cents per share in the quarter, an increase of 3 cents from the same period last year. Net plant assets in our Transmission Holding Co. business grew by $1.5 billion, or 16%, from September 2019.

“Our ongoing focus on managing operations and maintenance expenses and enhancing efficiency also bolstered our performance in the quarter despite milder temperatures year-over-year. We’re well on our way to achieving the additional $100 million in spending cuts we previously announced and are implementing initiatives to reduce expenses longer term in many parts of the company,” Akins said.

“Adjusted for weather, year-to-date residential sales increased 2.6% compared with last year, largely due to people spending more time at home in response to the pandemic. As we projected, both our commercial and industrial classes are showing steady improvement from the low we experienced in the second quarter as some businesses reopened over the summer. We expect this trend will continue into 2021, barring additional unanticipated negative economic impacts from the pandemic.   

“We plan to invest $5.9 billion in capital in 2020 and expect to deliver operating earnings performance for the year solidly within the $4.25 to $4.45 guidance range that we targeted before the onset of the pandemic,” Akins said. 


SUMMARY OF RESULTS BY SEGMENT

$ in millions


GAAP Earnings

3Q 20


3Q 19


Variance


YTD 20


YTD 19


Variance

   Vertically Integrated Utilities (a)

393.5


437.6


(44.1)


894.7


917.7


(23.0)

   Transmission & Distribution Utilities (b)

147.4


133.7


13.7


403.1


421.6


(18.5)

   AEP Transmission Holdco (c)

138.3


126.1


12.2


370.4


404.8


(34.4)

   Generation & Marketing (d)

116.7


90.0


26.7


211.0


139.5


71.5

   All Other

(47.3)


(53.9)


6.6


(114.6)


(116.0)


1.4

Total GAAP Earnings (Loss)

748.6


733.5


15.1


1,764.6


1,767.6


(3.0)








Operating Earnings (non-GAAP)

3Q 20


3Q 19


Variance


YTD 20


YTD 19


Variance

   Vertically Integrated Utilities (a)

422.5


437.9


(15.4)


940.1


935.6


4.5

   Transmission & Distribution Utilities (b)

152.6


133.9


18.7


414.5


421.8


(7.3)

   AEP Transmission Holdco (c)

139.6


126.1


13.5


374.1


404.9


(30.8)

   Generation & Marketing (d)

63.2


78.3


(15.1)


153.8


148.8


5.0

   All Other

(49.7)


(53.9)


4.2


(116.6)


(110.4)


(6.2)

Total Operating Earnings (non-GAAP)

728.2


722.3


5.9


1,765.9


1,800.7


(34.8)


A full reconciliation of GAAP earnings with operating earnings is included in tables at the end of this news release.

(a)

Includes AEP Generating Co., Appalachian Power, Indiana Michigan Power, Kentucky Power, Kingsport Power, Public Service Co. of Oklahoma, Southwestern Electric Power and Wheeling Power

(b)

Includes Ohio Power and AEP Texas

(c)

Includes wholly-owned transmission-only subsidiaries and transmission-only joint ventures

(d)

Includes AEP OnSite Partners, AEP Renewables, competitive generation in ERCOT and PJM as well as marketing, risk management and retail activities in ERCOT, PJM and MISO

EARNINGS GUIDANCE

AEP management reaffirmed its 2020 operating earnings guidance range of $4.25 to $4.45 per share. Operating earnings could differ from GAAP earnings for matters such as impairments, divestitures or changes in accounting principles. AEP management is not able to forecast if any of these items will occur or any amounts that may be reported for future periods. Therefore, AEP is not able to provide a corresponding GAAP equivalent for earnings guidance.

Reflecting special items recorded through the third quarter, the estimated earnings per share on a GAAP basis would be $4.25 to $4.45 per share. See the table below for a full reconciliation of 2020 earnings guidance.

2020 EPS Guidance Reconciliation





  Estimated EPS on a GAAP basis

$4.25

to

$4.45





  Mark-to-market impact of commodity 
       hedging activities


(0.02)






  COVID-19


0.04






  Achieving Excellence Program


0.09


  CARES Act


(0.11)


  Operating EPS Guidance

$4.25

to

$4.45





WEBCAST

AEP’s quarterly discussion with financial analysts and investors will be broadcast live over the internet at 9 a.m. Eastern today at http://www.aep.com/webcasts. The webcast will include audio of the discussion and visuals of charts and graphics referred to by AEP management. The charts and graphics will be available for download at http://www.aep.com/webcasts.

AEP’s earnings are prepared in accordance with accounting principles generally accepted in the United States and represent the company’s earnings as reported to the Securities and Exchange Commission. The company’s operating earnings, a non-GAAP measure representing GAAP earnings excluding special items as described in the news release and charts, provide another representation for investors to evaluate the performance of the company’s ongoing business activities. AEP uses operating earnings as the primary performance measurement when communicating with analysts and investors regarding its earnings outlook and results. The company uses operating earnings data internally to measure performance against budget, to report to AEP’s Board of Directors and also as an input in determining performance-based compensation under the company’s employee incentive compensation plans.

American Electric Power, based in Columbus, Ohio, is focused on building a smarter energy infrastructure and delivering new technologies and custom energy solutions to our customers. AEP’s approximately 17,400 employees operate and maintain the nation’s largest electricity transmission system and more than 221,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 5.5 million regulated customers in 11 states. AEP also is one of the nation’s largest electricity producers with approximately 30,000 megawatts of diverse generating capacity, including more than 5,300 megawatts of renewable energy. AEP’s family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, AEP Energy Partners, AEP OnSite Partners, and AEP Renewables, which provide innovative competitive energy solutions nationwide. For more information, visit aep.com.

This report made by American Electric Power and its Registrant Subsidiaries contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Although AEP and each of its Registrant Subsidiaries believe that their expectations are based on reasonable assumptions, any such statements may be influenced by factors that could cause actual outcomes and results to be materially different from those projected. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are: changes in economic conditions, electric market demand and demographic patterns in AEP service territories; the impact of pandemics, including COVID-19, and any associated disruption of AEP’s business operations due to impacts on economic or market conditions, electricity usage, employees, customers, service providers, vendors and suppliers; inflationary or deflationary interest rate trends; volatility in the financial markets, particularly developments affecting the availability or cost of capital to finance new capital projects and refinance existing debt; the availability and cost of funds to finance working capital and capital needs, particularly during periods when the time lag between incurring costs and recovery is long and the costs are material; decreased demand for electricity; weather conditions, including storms and drought conditions, and AEP’s ability to recover significant storm restoration costs; the cost of fuel and its transportation, the creditworthiness and performance of fuel suppliers and transporters and the cost of storing and disposing of used fuel, including coal ash and spent nuclear fuel; the availability of fuel and necessary generation capacity and the performance of AEP’s generation plants; AEP’s ability to recover fuel and other energy costs through regulated or competitive electric rates; AEP’s ability to build or acquire renewable generation, transmission lines and facilities (including the ability to obtain any necessary regulatory approvals and permits) when needed at acceptable prices and terms and to recover those costs; new legislation, litigation and government regulation, including oversight of nuclear generation, energy commodity trading and new or heightened requirements for reduced emissions of sulfur, nitrogen, mercury, carbon, soot or particulate matter and other substances that could impact the continued operation, cost recovery, and/or profitability of AEP’s generation plants and related assets; evolving public perception of the risks associated with fuels used before, during and after the generation of electricity, including coal ash and nuclear fuel; timing and resolution of pending and future rate cases, negotiations and other regulatory decisions, including rate or other recovery of new investments in generation, distribution and transmission service and environmental compliance; resolution of litigation; AEP’s ability to constrain operation and maintenance costs; prices and demand for power generated and sold at wholesale; changes in technology, particularly with respect to energy storage and new, developing, alternative or distributed sources of generation; AEP’s ability to recover through rates any remaining unrecovered investment in generation units that may be retired before the end of their previously projected useful lives; volatility and changes in markets for coal and other energy-related commodities, particularly changes in the price of natural gas; changes in utility regulation and the allocation of costs within regional transmission organizations, including ERCOT, PJM and SPP; changes in the creditworthiness of the counterparties with whom AEP has contractual arrangements, including participants in the energy trading market; actions of rating agencies, including changes in the ratings of AEP debt; the impact of volatility in the capital markets on the value of the investments held by AEP’s pension, OPEB, captive insurance entity and nuclear decommissioning trust and the impact of such volatility on future funding requirements; accounting standards periodically issued by accounting standard-setting bodies; other risks and unforeseen events, including wars, the effects of terrorism (including increased security costs), embargoes, naturally occurring and human-caused fires, cyber security threats and other catastrophic events; and the ability to attract and retain the requisite work force and key personnel.



American Electric Power

















Financial Results for the Third Quarter of 2020

Reconciliation of GAAP to Operating Earnings (non-GAAP)




















2020




Vertically
Integrated
Utilities


Transmission
& Distribution
Utilities


AEP
Transmission
Holdco


Generation
&
Marketing


Corporate
and Other


Total


EPS




($ millions)




















GAAP Earnings (Loss)


393.5


147.4


138.3


116.7


(47.3)


748.6


$

1.51

















Special Items
















Mark-to-Market Impact of Commodity Hedging Activities

(a)




(6.4)



(6.4)


(0.01)


COVID-19

(b)

3.2


0.4


0.1




3.7


0.01


Achieving Excellence Program

(c)

25.0


6.8


1.2


1.0



34.0


0.07


CARES Act

(d)

0.8


(2.0)



(48.1)


(2.4)


(51.7)


$

(0.11)

 Total Special Items


29.0


5.2


1.3


(53.5)


(2.4)


(20.4)


$

(0.04)

















Operating Earnings (Loss)

     (non-GAAP)


422.5


152.6


139.6


63.2


(49.7)


728.2


$

1.47


















Financial Results for the Third Quarter of 2019

Reconciliation of GAAP to Operating Earnings (non-GAAP)




















2019




Vertically
Integrated
Utilities


Transmission
& Distribution
Utilities


AEP
Transmission
Holdco


Generation
&
Marketing


Corporate
and Other


Total


EPS




($ millions)



















GAAP Earnings (Loss)


437.6


133.7


126.1


90.0


(53.9)


733.5


$

1.49

















Special Items
















Mark-to-Market Impact of Commodity Hedging Activities

(a)




(11.7)



(11.7)


(0.03)


Severance Charges

(c)

0.3


0.2





0.5


 Total Special Items


0.3


0.2



(11.7)



(11.2)


$

(0.03)

















Operating Earnings (Loss)

     (non-GAAP)


437.9


133.9


126.1


78.3


(53.9)


722.3


$

1.46



(a)

Reflected in Revenues and Income Tax Expense

(b)

Reflected in Fuel Expense, Other Operation Expenses and Income Tax Expense

(c)

Reflected in Other Operation Expenses and Income Tax Expense

(d)

Reflected in Income Tax Expense




American Electric Power

Summary of Selected Sales Data

Regulated Connected Load

(Data based on preliminary, unaudited results)








Three Months Ended September 30

ENERGY & DELIVERY SUMMARY

2020


2019


Change







Vertically Integrated Utilities






Retail Electric(in millions of kWh):






    Residential

9,066


9,254


(2.0)

%

    Commercial

6,257


6,840


(8.5)

%

    Industrial

8,161


9,123


(10.5)

%

    Miscellaneous

595


641


(7.2)

%

    Total Retail

24,079


25,858


(6.9)

%







   Wholesale Electric(in millions of kWh): (a)

4,574


5,864


(22.0)

%







   Total KWHs

28,653


31,722


(9.7)

%







Transmission & Distribution Utilities






Retail Electric(in millions of kWh):






    Residential

8,277


8,268


0.1

%

    Commercial

6,722


7,219


(6.9)

%

    Industrial

5,417


5,857


(7.5)

%

    Miscellaneous

206


223


(7.6)

%

   Total Retail (b)

20,622


21,567


(4.4)

%







   Wholesale Electric(in millions of kWh): (a)

502


453


10.8

%







   Total KWHs

21,124


22,020


(4.1)

%



(a)

Includes off-system sales, municipalities and cooperatives, unit power and other wholesale customers

(b)

Represents energy delivered to distribution customers




American Electric Power

















Financial Results for Year-to-Date 2020

Reconciliation of GAAP to Operating Earnings (non-GAAP)




















2020




Vertically
Integrated
Utilities


Transmission
& Distribution
Utilities


AEP
Transmission
Holdco


Generation
&
Marketing


Corporate
and Other


Total


EPS




($ millions)



















GAAP Earnings (Loss)


894.7


403.1


370.4


211.0



(114.6)


1,764.6


$

3.56

















Special Items
















Mark-to-Market Impact of Commodity Hedging Activities

(a)




(10.5)




(10.5)


(0.02)


COVID-19

(b)

13.9


4.3


0.6


0.1




18.9


0.04


Achieving Excellence Program

(c)

30.7


9.1


3.1


1.3



0.4


44.6


0.09


CARES Act

(d)

0.8


(2.0)



(48.1)



(2.4)


(51.7)


(0.11)

 Total Special Items


45.4


11.4


3.7


(57.2)



(2.0)


1.3


$

















Operating Earnings (Loss)

     (non-GAAP)


940.1


414.5


374.1


153.8



(116.6)


1,765.9


$

3.56


















Financial Results for Year-to-Date 2019

Reconciliation of GAAP to Operating Earnings (non-GAAP)




















2019




Vertically
Integrated
Utilities


Transmission
& Distribution
Utilities


AEP
Transmission
Holdco


Generation
&
Marketing


Corporate
and Other


Total


EPS




($ millions)



















GAAP Earnings (Loss)


917.7


421.6


404.8


139.5



(116.0)


1,767.6


$

3.58

















Special Items
















Mark-to-Market Impact of Commodity Hedging Activities

(a)




3.6




3.6


0.01


Severance Charges

(c)

17.9


0.2


0.1


(0.1)



0.5


18.6


0.04


Acquisition Fees

(c)




5.8



5.1


10.9


0.02

 Total Special Items


17.9


0.2


0.1


9.3



5.6


33.1


$

0.07

















 Operating Earnings (Loss)

     (non-GAAP)


935.6


421.8


404.9


148.8



(110.4)


1,800.7


$

3.65




























(a)

Reflected in Revenues and Income Tax Expense

(b)

Reflected in Fuel Expense, Other Operation Expenses and Income Tax Expense

(c)

Reflected in Other Operation Expenses and Income Tax Expense

(d)

Reflected in Income Tax Expense




American Electric Power

Summary of Selected Sales Data

Regulated Connected Load

(Data based on preliminary, unaudited results)








Nine Months Ended September 30

ENERGY & DELIVERY SUMMARY

2020


2019


Change







Vertically Integrated Utilities






Retail Electric(in millions of kWh):






   Residential

24,304


24,785


(1.9)

%

   Commercial

16,773


18,183


(7.8)

%

   Industrial

24,335


26,533


(8.3)

%

   Miscellaneous

1,636


1,734


(5.7)

%

    Total Retail

67,048


71,235


(5.9)

%







   Wholesale Electric(in millions of kWh): (a)

13,116


16,494


(20.5)

%







Total KWHs

80,164


87,729


(8.6)

%







Transmission & Distribution Utilities






Retail Electric (in millions of kWh):






   Residential

20,876


20,614


1.3

%

   Commercial

18,154


19,069


(4.8)

%

   Industrial

16,473


17,492


(5.8)

%

   Miscellaneous

568


595


(4.5)

%

    Total Retail (b)

56,071


57,770


(2.9)

%







   Wholesale Electric(in millions of kWh): (a)

1,347


1,531


(12.0)

%







Total KWHs

57,418


59,301


(3.2)

%



(a)

Includes off-system sales, municipalities and cooperatives, unit power and other wholesale customers

(b)

Represents energy delivered to distribution customers

 

 

SOURCE American Electric Power

Related Links

https://www.aep.com

Source: https://www.prnewswire.com:443/news-releases/aep-reports-strong-third-quarter-2020-earnings-301157746.html

Cleantech

The Renewable Energy Cows Come Home, Now With Green Ammonia

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Clean Power

Published on November 30th, 2020 | by Tina Casey

November 30th, 2020 by Tina Casey 


US farmers have been on the the front lines of the renewable energy revolution, and they are in the vanguard of yet another clean tech trend that could finally help the distributed wind industry get the attention it deserves. If all goes according to plan, farms across the country will sprout wind turbines attached to devices that spit out green ammonia for fertilizer and zero emission fuel.

Minnesota eyeballs renewable energy to make fertilizer and fuel from water and air, kicking natural gas and diesel off the farm (photo: US Department of Agriculture).

Renewable Energy & Green Ammonia

Distributed wind is a branch of the renewable energy field that usually gets overshadowed by the latest EV news or the biggest solar array or some such all. It refers to turbines that are used to generate electricity for on-site use, say at a factory or a farm. It also refers to turbines that feed directly into a local distribution system.

The turbines could be any size, but distributed wind is typically associated with smaller turbines, which is probably why the media spotlight rarely shines on it.

Nevertheless, the US Department of Energy is a big fan. They envision peppering the countryside with wind turbines that contribute to overall resiliency and security into the nation’s electricity supply, as part of a broader focus on renewable energy and distributed energy resources.

That brings us to the farmers. The problem is how to make a wind turbine or two worth the cost of installation. Green ammonia could provide the solution, by providing farmers with a value-added system that takes advantage of unused wind power at night or during other low-demand periods.

Green ammonia could also open up the wind turbine market to farmers with “stranded wind” assets, meaning they have plenty of wind but lack access to electricity transmission infrastructure. Ammonia can be transported by road, rail, or pipeline, so converting wind energy to green ammonia opens up new options.

The Rise Of The Green Ammonia-To-Table Farm, Eventually

Most of the world’s ammonia comes from fossil sources, so it is due for a green makeover anyways, regardless of the renewable energy angle. As applied to the distributed wind sector, the basic idea would be to deploy electricity from wind turbines to run a system that produces ammonia from water and air.

If that sounds a bit wacky, it would have just a few years ago, when the cost of renewable energy was still relatively high. Now that costs have come down, “splitting” hydrogen from water with electricity from wind and solar resources is becoming a thing, and extracting nitrogen from ambient air is already a thing. Add one nitrogen to three hydrogens and you get NH3, the formula for ammonia.

As for bottom line benefits, farmers who can deploy their own renewable energy resources to make their own fertilizer and fuel would get some relief from price spikes and uncertainty in the commodities market. That’s over and above the benefit of generating renewable electricity for use on site.

Green Ammonia & National Security

There being no such thing as a free lunch, there are a couple of wrinkles to smooth out before things get going.

One challenge involves tailoring an intermittent, variable renewable energy resource into a steady, reliable stream of electricity to power the green ammonia system.

The other challenge involves scaling down the system down to an appropriate size. Ammonia production involves a well known, proven technology called the Haber-Bosch process, but it is typically used in large-scale centralized facilities.

Easier said than done, but the payout could be huge. Our friends over at Farm Progress took a deep dive into the topic all the way back in 2011 through a research project and pilot plant under the University of Minnesota umbrella, and they noted that a domestic security issue is at work. With much of the nation’s fertilizer production moved overseas, the US food supply is all the more captive to global commodities markets.

Farm Progress also cited a 50% or more cut in greenhouse gas emissions related to growing corn in the Midwest under a locally produced green ammonia scenario, partly by removing natural gas from the ammonia supply chain and subbing in renewable energy.

Local ammonia production would also cut into greenhouse gas emissions related to transporting fertilizer over long distances.

In another interesting twist related to transportation, Farm Progress also noted that farmers in some regions have to compete with other users for access to freight rail for long distance shipping. Local ammonia production would relieve that bottleneck while providing long term supply chain security.

Thanks To The Deep State, Stranded Wind Energy Gets Unstranded

It’s been a long haul but the research is beginning to bear fruit. The University of Minnesota updated the project in February 2018 under the banner of helping farmers tap into their stranded wind assets. In addition to transportation and fertilizer production, the school focused on the use of green ammonia as a long-duration form of energy storage.

The UM project is part of the Energy Department’s ongoing REFUEL initiative, which aims specifically at deploying renewable energy to produce ammonia. That’s of interest from a political perspective, considering all the talk about “deep state” and what-not.

US President* Donald Trump has aligned himself with fossil fuel stakeholders, but throughout his term in office, the Energy Department has continued to promote green ammonia and other cutting edge technology that squeezes fossil resources out of the picture in favor of renewable energy.

There goes that pesky deep state again! Well, at least somebody is paying attention to global energy trends and working to ensure that the nation is not left mired in 20th century technology as the rest of the world pivots to a more sustainable economy, while also helping US farmers gain a new stream of revenue by tapping into renewable energy resources.

In its 2018 update, UM noted that the world’s leading engineering firms and ammonia producers, including Siemens, IHI Corporation, and Yara, were already dipping into the green ammonia economy. You can add CF Industries to the list, as the company recently announced a plan to add green ammonia system to its facility in Donaldson, Louisiana.

Renewable Energy & The Minnesota Connection

UM’s West Central Research and Outreach Center is actually overseeing a whole network of green ammonia research projects. One area is a whole-of-school effort focusing on technology, economics, and policy. Another is a boots-on-the-ground initiative aimed at deploying ammonia from the pilot plant to replace diesel fuel in tractors.

The school also won a 2018 REFUEL award that pairs it with the National Renewable Energy Lab in Colorado and the leading electrolyzer firm Proton OnSite, aimed at improvements in ammonia production technology.

The 2018 update also mentioned the possibility of using ammonia as fuel for grain dryers, which suck up a big slice of the agricultural energy pie.

“Grain drying is a major consumer of energy but is not one that matches well with current renewable energy technologies since high amounts of energy are required in a short duration of time,” UM observed.  “One possible answer may be in the form of ammonia.  The concept would allow for the use of ammonia seasonally as needed such as for fertilizer, transportation fuel, electrical energy generation, and then combusted in a grain dryer.”

It seems they have not let the grass grow under their feet. Last year the West Central Research and Outreach Center presented its vision for renewable energy and green ammonia at the 2019 Midwest Farm Energy Conference, taking note of new wind-friendly green ammonia technology that replaces a conventional condenser system with an absorption-based system (for those of you keeping score at home, that’s where the Proton OnSite connection comes in).

Aside from green ammonia, Minnesota is making quite a name for itself in the renewable energy field as it relates to sustainable farming. The state is also emerging as a leader in the fields of agrivoltaics and regenerative agriculture, with an eye on restoring soil in farmland that has been exhausted by generations of use.

Minnesota’s renewable energy profile is also benefiting from its network of rural electricity cooperatives, so stay tuned for more on that.

Follow me on Twitter.

*Developing story.

Photo: US Department of Agriculture. 
 


 


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Tina Casey specializes in military and corporate sustainability, advanced technology, emerging materials, biofuels, and water and wastewater issues. Tina’s articles are reposted frequently on Reuters, Scientific American, and many other sites. Views expressed are her own. Follow her on Twitter @TinaMCasey and Google+.



Source: https://cleantechnica.com/2020/11/30/the-renewable-energy-cows-come-home-now-with-green-ammonia/

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Energy

Zoomlion begeistert auf der bauma China 2020 mit intelligenten Baumaschinen der nächsten Generation und sichert sich Aufträge im Wert von über 3 Milliarden USD

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Zoomlion stellt auf der bauma China 2020 über 50 Sätze an Baumaschinen aus neun Produktreihen aus. Durch die Einführung neuer Produkte und Livestreaming-Veranstaltungen im Internet zur Interaktion mit globalen Kunden hat sich Zoomlion bis zum 26. November bei der bauma China Bestellungen in Höhe von insgesamt 20 Mrd. CNY (3,04 Mrd. USD) gesichert.

„Die Ausstellung präsentiert die High-End-Produkte der Generation 4.0 von Zoomlion und innovative Errungenschaften, die hinsichtlich der Intelligenz einen großen Schritt nach vorn darstellen”, so Guo Xuehong, Vice President von Zoomlion.

Mit hochwertigen, innovativen intelligenten Produkten an die Branchenspitze

Die Ausstellung von Zoomlion auf der bauma China 2020 bot einen Einblick in die Zukunft der Baumaschinen. So wurde beispielsweise eine intelligente Hebemaschine ohne Bedienungskabine, aber mit einem 5G-Fernbedienungszentrum präsentiert, das der Maschine „intelligentes” Berühren, Fühlen und Sehen ermöglicht.

Der ZTC-250NEV ist der weltweit erste elektrische LKW-Kran mit integrierter Bildverarbeitung, künstlicher Intelligenz und 5G-Kommunikation. Der kabinenlose Kran mit „Augen und Gehirn” erledigt intelligent gesteuerte Hebearbeiten per Knopfdruck.

Der Raupenkran ZCC18000 verfügt über die höchste Tonnage auf der gesamten Messe und hat eine hohe Hubleistung, die ihn zum perfekten Modell für das Heben von Windkraftanlagen an Land und an Offshore-Anlagen macht. Es ist mit der firmeneigenen No-Landing-Gegengewichtstechnologie von Zoomlion ausgestattet, die die Einsatzfläche um 60 % reduziert und eine branchenführende Hebeleistung bietet.

Zoomlion hat außerdem den ZT68J auf den Markt gebracht, eine selbstfahrende Arbeitsplattform mit geradem Arm, die mit ihrer Höhe von 67,5 Metern einen Weltrekord aufstellt und gleichzeitig eine bessere Leistung im Offroad-Betrieb und eine intelligente Steuerung garantiert.

Die Trockenmischanlagen des Unternehmens sind mit dem patentierten hochpräzisen automatischen Pulverdosiersystem Powerdos ausgestattet. Die intelligenten Funktionen wie Hohlausleger-Technologie, Kohlefaser-Betonrohr und Mensch-Maschine-Sprachinteraktion sowie ein intelligentes ETI-Steuerungssystem für Turmdrehkrane stießen bei den Besuchern der Messe ebenso wie dem weltweiten Online-Publikum auf große Begeisterung.

Während sich der globale Markt von den Auswirkungen der COVID-19-Krise erholt, setzt Zoomlion auf innovative Forschung und Entwicklung und freut sich auf die Zusammenarbeit mit allen Partnern. Der Aussteller veranstaltete einen 24-Stunden-Livestream in chinesischer und englischer Sprache, der es Kunden in aller Welt ermöglichte, an der bauma China 2020 teilzunehmen.

„Zoomlion hat seine Vision, die Errungenschaften der Branche zu teilen und die Branche mitzugestalten, nie geändert. Wir sind darauf vorbereitet, eine intelligente und perfekte Zukunft in Bezug auf umfassende Beratung, gemeinsame Beiträge und gemeinsamen Nutzen mitzugestalten”, erklärte Guo.

Informationen zu Zoomlion

Das 1992 gegründete Unternehmen Zoomlion Heavy Industry Science & Technology Co. (01157.HK) ist ein Unternehmen, das hochwertige Geräte herstellt und Maschinen, landwirtschaftliche Maschinen und Finanzdienstleistungen integriert. Das Unternehmen vertreibt heute mehr als 600 Spitzenprodukte aus 56 Produktlinien, die zehn wichtige Kategorien abdecken.

Foto – https://mma.prnewswire.com/media/1343696/image.jpg

Related Links

www.zoomlion.com

SOURCE Zoomlion

Source: https://www.prnewswire.com:443/news-releases/zoomlion-begeistert-auf-der-bauma-china-2020-mit-intelligenten-baumaschinen-der-nachsten-generation-und-sichert-sich-auftrage-im-wert-von-uber-3-milliarden-usd-819136293.html

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Energy

Zoomlion impressiona na Exposição bauma China 2020 com o lançamento de maquinários de construção inteligentes de última geração garantindo mais de US$ 3 bilhões em pedidos

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A Zoomlion está exibindo mais de 50 conjuntos de produtos de equipamentos de construção de nove linhas de produtos na bauma China 2020. Com novos lançamentos de produtos e eventos de transmissão ao vivo on-line para interagir com clientes globais, a Zoomlion fechou pedidos totalizando CNY 20 bilhões ( US$ 3,04 bilhões) na bauma China no dia 26 de novembro.

“A exposição destaca os produtos de ponta da geração 4.0 da Zoomlion e conquistas inovadoras que representam um salto qualitativo de inteligência,” disse o Sr. Guo Xuehong, vice-presidente da Zoomlion.

Assumindo a liderança no setor com produtos inteligentes inovadores e de última geração 

A exposição da Zoomlion na bauma China 2020 ofereceu um vislumbre do futuro dos maquinários de construção com uma demonstração de içamento inteligente sem a cabine de operação, mas com um centro de experiência de controle remoto 5G, a parte “inteligência” do equipamento tem a capacidade de tocar, sentir e ver.

O ZTC-250NEV é o primeiro caminhão guindaste elétrico do mundo que tem visão de máquina integrada, inteligência artificial e comunicação 5G. É um guindaste sem cabine, mas com “olhos e cérebro” para realizar tarefas de içamento inteligentes com o apertar de um botão.

O guindaste sobre esteiras ZCC18000 tem a tonelagem mais alta da feira, apresentando grande capacidade de içamento, o que o torna um modelo perfeito para içamento de energia eólica em terra e no mar. É equipado com a tecnologia de contrapeso de sobrecarga sem aterrissagem desenvolvida automaticamente pela Zoomlion, que reduz a área de operação em 60% e oferece o melhor desempenho de elevação do setor.

A Zoomlion também lançou a ZT68J, uma plataforma aérea automotora de braço reto que bate o recorde mundial de 67,5 metros de altura, garantindo melhor desempenho na operação fora da estrada e controle inteligente.

O equipamento de argamassa de mistura seca da empresa adota o sistema patenteado de dosagem automática de granulados com ultra-alta precisão patenteada Powerdos. As funções inteligentes, como tecnologia de lança oca, tubo de concreto de fibra de carbono e interação de voz homem-máquina e um sistema de controle inteligente ETI de guindaste de torre foram amplamente aclamados pelos visitantes da feira e pelo público mundial na transmissão ao vivo.

À medida que o mercado global se recupera dos impactos da COVID-19, a Zoomlion persiste com pesquisa e desenvolvimento inovadores e espera criar e compartilhar com todos os parceiros. O expositor apresentou uma transmissão ao vivo de 24 horas em chinês e inglês, permitindo que clientes em todo o mundo participassem da bauma China 2020.

“A Zoomlion nunca mudou sua visão de compartilhar as conquistas da indústria e co-construir a ecosfera do setor. Esperamos moldar um futuro inteligente e definitivo com base nos princípios de ampla consulta, contribuição conjunta e benefícios compartilhados,” disse o Sr. Guo.

Sobre a Zoomlion 

Fundada em 1992, a Zoomlion Heavy Industry Science & Technology Co., Ltd. (01157.HK) é uma empresa fabricante de equipamentos de última geração que integra maquinário de engenharia, maquinário agrícola e serviços financeiros. Atualmente, a empresa vende mais de 600 produtos de ponta de 56 linhas de produtos, cobrindo dez categorias importantes.

Foto – https://mma.prnewswire.com/media/1343794/image.jpg

FONTE Zoomlion

Related Links

www.zoomlion.com

SOURCE Zoomlion

Source: https://www.prnewswire.com:443/news-releases/zoomlion-impressiona-na-exposicao-bauma-china-2020-com-o-lancamento-de-maquinarios-de-construcao-inteligentes-de-ultima-geracao-garantindo-mais-de-us-3-bilhoes-em-pedidos-872461738.html

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Energy

Zoomlion cautiva en la exposición bauma China 2020 con el lanzamiento de maquinaria de construcción inteligente de próxima generación que asegura más de 3 mil millones de dólares en pedidos

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Zoomlion exhibirá más de 50 productos de equipos de construcción de nueve líneas de productos en bauma China 2020. A través de lanzamientos de nuevos productos y eventos de transmisión en vivo en línea interactuando con clientes globales, Zoomlion ha firmado pedidos por un total de 20 mil millones de yuanes chinos (3,04 mil millones de dólares) en bauma China a partir del 26 de noviembre.

“La exposición destaca los productos de alta gama de la generación 4.0 de Zoomlion y los logros innovadores que representan un salto cualitativo de inteligencia”, dijo el Sr. Guo Xuehong, vicepresidente de Zoomlion.

A la vanguardia en la industria con productos inteligentes innovadores de alta gama 

La exposición de Zoomlion en bauma China 2020 ofreció un vistazo al futuro de las maquinarias de construcción con una demostración de maquinaria de elevación inteligente sin cabina de operación, pero con un centro de experiencia de control remoto de 5G que le da a la parte “inteligente” del equipo la capacidad de tocar, sentir y ver.

El ZTC-250NEV es el primer camión grúa eléctrico del mundo que tiene visión artificial integrada, inteligencia artificial y comunicación de 5G, es una grúa sin cabina pero con “ojos y cerebro” para completar tareas de elevación inteligentes con solo presionar un botón.

La grúa sobre orugas ZCC18000 tiene el tonelaje más alto de la feria, con una gran capacidad de elevación que la convierte en el modelo perfecto para la elevación de energía eólica en tierra y mar. Está equipado con la tecnología de contrapeso de sobrecarga sin descanso desarrollada por Zoomlion que reduce el área de operación en un 60 % y ofrece un rendimiento de elevación líder en la industria.

Zoomlion también lanzó la ZT68J, una plataforma de trabajo aéreo autopropulsada de brazo recto que establece un récord mundial de 67,5 metros de altura, al tiempo que garantiza un mejor rendimiento en operaciones todoterreno y un control inteligente.

El equipo de mezcla de mortero seco de la compañía ha adoptado el sistema patentado de dosificación automática de polvo de ultra alta precisión Powerdos. Las funciones inteligentes, como la tecnología de brazo hueco, el tubo de hormigón de fibra de carbono y la interacción de voz hombre-máquina y un sistema de control inteligente de grúa torre ETI fueron ampliamente aclamados por los visitantes a la feria así como por la audiencia global de la transmisión en vivo.

A medida que el mercado global se recupera de los impactos de la COVID-19, Zoomlion persiste con la investigación y desarrollo innovadores que espera crear y compartir con todos los socios. El expositor organizó una transmisión en vivo de 24 horas en chino e inglés que permitió a los clientes globales participar en bauma China 2020.

“Zoomlion nunca ha cambiado su visión de compartir los logros de la industria y coconstruir la ecosfera de la industria. Esperamos dar forma a un futuro inteligente y definitivo en los principios de amplia consulta, contribución conjunta y beneficios compartidos”, dijo el Sr. Guo.

Acerca de Zoomlion 

Zoomlion Heavy Industry Science & Technology Co., Ltd. (01157.HK), fundada en 1992, es una empresa de fabricación de equipos de alta gama que integra maquinaria para ingeniería, maquinaria agrícola y servicios financieros. En la actualidad, la empresa comercializa más de 600 productos de última tecnología, organizados en 56 líneas que abarcan diez importantes categorías.

Foto – https://mma.prnewswire.com/media/1343795/image.jpg

FUENTE Zoomlion

Related Links

www.zoomlion.com

SOURCE Zoomlion

Source: https://www.prnewswire.com:443/news-releases/zoomlion-cautiva-en-la-exposicion-bauma-china-2020-con-el-lanzamiento-de-maquinaria-de-construccion-inteligente-de-proxima-generacion-que-asegura-mas-de-3-mil-millones-de-dolares-en-pedidos-800653658.html

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