eaton corp plc (ETN) Key Developments
Eaton Enhances Automated Transmissions to Boost Fuel Efficiency
Mar 27 15
Eaton has introduced new electronic capabilities to its Fuller Advantage Series and UltraShift PLUS automated transmissions that allow for disengagement of a truck's driveline while on slight downhill grades to drop engine speeds to idle. The new technology improves fuel consumption by up to 1% and ensures safe operation regardless of driving conditions.
Eaton Announces Multiple Contracts to Provide Solar Inverters, Electrical Distribution Equipment and Services for the 72.9-Megawatt Redwood Solar Farm in Kern County, California
Mar 24 15
Eaton announced multiple contracts to provide solar inverters, electrical distribution equipment and services for the 72.9-megawatt Redwood Solar Farm in Kern County, California. The project, developed by sPower and 8minutenergy Renewables, is expected to generate 146 million kilowatt-hours (kWh) of sustainable electricity annually to power approximately 9,200 California homes and reduce greenhouse gas emissions equivalent to removing approximately 21,000 passenger vehicles from the road over the same time period. The installation will also help local utilities meet the California Renewables Portfolio Standard of generating 33% of power from renewable resources by 2020. The terms of this contract were not disclosed. Located on 345 acres of low productivity farmland, the 72.9 MW-direct current (dc) project is the first phase in what could ultimately be a larger solar project. sPower and 8minutenergy expect Redwood Solar Farm to begin generating clean sustainable power in June to August 2015. Once the aggregated solar project is complete, Southern California Edison (SCE), Pacific Gas and Electric Company (PG&E) and the City of Palo Alto Utilities will receive the power produced from the solar arrays to power California homes and businesses through signed Power Purchase Agreements (PPA). The photovoltaic (PV) projects will tap Eaton solutions and services to help maximize energy harvest, while reducing installation costs and simplifying maintenance. Under the contracts, Eaton will supply its Power Xpert 1670-kilowatt (kW) solar inverters and direct-coupled, Cooper Power series transformers, which are designed to help increase electrical resiliency in large commercial and utility-scale, grid-connect applications. The project will also incorporate a range of additional Eaton power distribution solutions, including: custom AC switchboards for convenient auxiliary power, and group mounted 1000 Vdc Crouse-Hinds series solar disconnects, as well as startup and commissioning services for enhanced system safety and reliability. Eaton received contracts from Gehrlicher Solar America Corp., which previously signed an agreement with 8minutenergy to lead engineering, procurement, construction (EPC) and commissioning for the project.
Endeavor MeshTech, Inc. Enters License and Settlement Agreement with Eaton Corporation
Mar 19 15
Endeavor IP, Inc. announced that its subsidiary Endeavor MeshTech, Inc. ('MeshTech') has entered into a license and settlement agreement with Eaton Corporation ('Eaton').
U.S. Army Selects Eaton to Help Automate, Optimize and Secure Global Power Delivery Systems
Mar 18 15
Eaton announced it was contracted by the U.S. Army Engineering and Support Center in Huntsville, Alabama, to help upgrade utility monitoring and control systems at U.S. Government-operated facilities around the world. Eaton is one of 13 companies to receive the $2.5 billion shared capacity multiple award task order contract. Under the Utility and Monitoring Control Systems-IV (UMCS-IV) contract, Eaton will have the opportunity to compete for award of task orders to provide turnkey engineering support for Federal electrical, mechanical and automation projects supporting optimized utility automation and control. If selected for award of the follow-on task orders, Eaton’s work will enable the U.S. government to make infrastructure improvements that enhance mission support, create healthier and safer working and living environments, complete large and small facility improvements that yield immediate energy savings and enhance energy efficiency to help reduce utility costs and reliance on fossil fuels. The projects will be led by Eaton’s Electrical Engineering Services and Systems Division, one of the large and most experienced teams of power system engineers in the industry. The team offers a comprehensive portfolio of services tailored for every stage of a power system's life cycle, whether design, build or support.
Eaton Corporation plc Provides Earnings Guidance for 2015
Mar 17 15
Eaton Corporation plc provided earnings guidance for 2015. For the year, the company's revenues are likely to be relatively flat, but it's really a 3% to 4% organic revenue growth, offset by the FX impact. The FX impact will be on the order of a negative 4% of revenues in 2015. And that's why it ends up relatively flat. It thinks its earnings per share, likely to grow about 5% if it had not had the currency impact and also have a tax rate that is going up a little bit in 2015. Absent those 2 factors, earnings per share would grow up about 13% in 2015. And that would be following the increase in 2014 of about 13%. So it continues to grow its fundamental rate of earnings per share in this double-digit range.