Pratt & Whitney Power Systems Agrees to Purchase Majority Interest In Turboden S.r.l.
Pratt & Whitney Power Systems has agreed to purchase a majority interest in Turboden S.r.l. (Turboden), an Italian manufacturer of high efficiency turbogenerator systems. Based in Brescia, Turboden designs and produces Organic Rankine Cycle (ORC) systems including turbines and turn-key turbogenerator units for distributed power generation in biomass, geothermal, solar and industrial heat recovery applications. The agreement with Turboden is an important extension of Pratt & Whitney Power Systems’ presence in renewable power generation through its PureCycle® product line.
“The Turboden partnership complements Pratt & Whitney Power System’s PureCycle offering and expands its product portfolio into high temperature and higher power applications.” said Peter Christman, president, Pratt & Whitney Power Systems. “It reflects UTC's commitment to energy efficiency and adds to a growing renewable energy portfolio with enhanced technical capabilities and geographic footprint.”
"For almost 30 years, Turboden has developed efficient, environmentally friendly turbogenerators for renewable energy generation throughout Europe. Now the challenge is worldwide." said Mario Gaia, president of Turboden “We are excited about our new partnership with Pratt & Whitney and look forward to working with them on this next phase of Turboden’s growth."
Terms of the transaction were not disclosed. Pratt & Whitney is a United Technologies Corp. (NYSE:UTX) company. Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, space propulsion systems and industrial gas turbines. United Technologies, based in Hartford, Conn., is a diversified company providing high technology products and services to the global aerospace and commercial building industries.
For more information: www.pw.utc.com