ExxonMobil (XOM) Announces Agreement with Pratt & Whitney (UTX)
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ExxonMobil (NYSE: XOM) has entered into an agreement with Pratt & Whitney Rocketdyne (NYSE: UTX) to develop next-generation technology to convert coal, coke or biomass to synthesis gas (i.e., CO and hydrogen), which could facilitate the use of carbon capture and storage to reduce greenhouse gas emissions from power generation.
Under the agreement, ExxonMobil Research and Engineering Company and Pratt & Whitney Rocketdyne will work together to develop and test new gasification technology to improve efficiency and reduce the cost of converting raw materials into gas. The work focuses on the development of a gasification-reactor system, which has the potential to offer significant advantages compared to conventional approaches. Key features of PWR's rocket-engine expertise -- uniform feed distribution, high temperature combustion and rapid heat removal -- are utilized, resulting in a smaller and more cost effective system.
United Technologies Corporation (UTC) provides high-technology products and services to the building systems and aerospace industries. It has six segments: Otis, Carrier, UTC Fire & Security (UTC F&S), Pratt & Whitney, Hamilton Sundstrand and Sikorsky. [SM]
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