On Wednesday, United Technologies Corporation (NYSE:UTX)’s shares inclined 0.11% to $115.07.
China Aircraft Leasing Group Holdings Limited, the largest independent operating aircraft lessor in China, has signed a Memorandum of Understanding to power 18 Airbus A320neo aircraft with Pratt & Whitney PurePower engines. Deliveries are planned to start in 2017. Pratt & Whitney is a United Technologies Corp. (UTX) company.
ALC is rapidly expanding its portfolio to meet airlines’ strong demands for cutting-edge and reliable aircraft offerings to capture the market opportunities. This PurePower engine declarement is in addition to a V2500 engine order for eight A320ceos formerly ordered by CALC.
China Aircraft Leasing Group Holdings Limited is the largest aircraft operating lessor in China, in terms of new aircraft import under lease each year. With its professional team possessing extensive international aviation market experience and its globalized sources of financing, the Group has developed into a full value-chain aircraft solution provider. In addition to aircraft operating lease, financial lease and sales and leaseback, CALC provides customers with aircraft full-life solutions, covering fleet planning consultation, structured financing, fleet replacement package deal, third party aircraft resale in addition to aircraft disassemble. CALC presently owns and manages a portfolio of 49 commercial aircraft, and aims at building a portfolio of 100 commercial aircraft by 2016. Listed on the main board of the Stock Exchange of Hong Kong on 11 July 2014, CALC is the first listed aircraft lessor in Asia. The Group is headquartered in Hong Kong, with offices in Beijing, Shanghai, Shenzhen and Tianjin, Mainland China; Labuan, Malaysia; Toulouse, France and Dublin, Ireland.
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; modernization products to upgrade elevators and escalators; and maintenance and repair services.
Exelon Corporation (NYSE:EXC)’s shares gained 0.53% to $34.18.
PECO is an electric and natural gas utility partner of Exelon Corporation (EXC).
From January through March, PECO accomplished more than 315 projects to enhance electric reliability for customers across Bucks, Chester, Delaware, Montgomery, Philadelphia and York counties. Each year, PECO invests about $500 million to improve the electric system infrastructure, counting performing preventive maintenance and upgrading equipment.
Specifically, 275 maintenance projects were accomplished as part of PECO’s ongoing system work.
PECO also upgraded and installed new equipment throughout the region, counting 12 new advanced aerial reclosers. When a problem occurs, like a fallen tree limb, lightning strike or vehicle accident, the recloser stops the flow of electricity on the line and automatically restores electricity if possible. There are presently more than 1,650 reclosers on PECO’s system, and these devices prevented more than one million sustained power interruptions for PECO customers in 2014.
To assist prevent power outages caused by vegetation, PECO also installs reinforced tree-resistant aerial electric lines. These lines are stronger than traditional lines and can better withstand falling trees and tree limbs. In 2014, PECO installed 10,600 feet of this wire. In total, more than 18 miles of this wire has been installed across the service territory with an additional 1,300 feet installed during the first quarter of 2015.
Exelon Corporation, a utility services holding company, engages in the energy generation and delivery businesses in the United States. It owns electric generating facilities, such as nuclear, fossil, and hydroelectric generation facilities, in addition to wind and solar photovoltaic facilities.
At the end of Wednesday’s trade, Duke Energy Corp (NYSE:DUK)‘s shares surged 0.70% to $73.08.
Associates of American Electric Power, Berkshire Hathaway Energy, Duke Energy (DUK), Edison International, Eversource Energy, Exelon, Great Plains Energy, and Southern Company have signed a memorandum of understanding to pursue development of Grid Assurance™, a limited liability company that anticipates to offer subscribers cost-effective solutions for enhancing grid resiliency and protecting customers from prolonged transmission outages.
As projected, Grid Assurance will own and provide subscribers with timely access to an inventory of emergency spare transmission equipment that can otherwise take months to acquire. Grid Assurance filed a petition with the Federal Energy Regulatory Commission (FERC) late yesterday seeking confirmation that this service can be part of a transmission-owning entity’s strategy to effectively address grid resiliency mandates. Grid Assurance will not be FERC regulated, but plans to charge cost-based subscription fees, similar to FERC-regulated transmission formula rates. Cost-based subscription fees are predictable to facilitate subscribers’ ability to recover expenses.
Restoration of the transmission grid can be hampered by long lead times required to design, build and deliver critical replacement equipment counting large transformers, circuit breakers and other specialized electrical equipment. As projected, Grid Assurance will be more cost-effective than companies independently securing emergency spare equipment for high-impact, low-frequency events due to economies of scale, diversification and improved logistics.
Duke Energy Corporation, together with its auxiliaries, operates as an energy company in the United States and Latin America. It operates through three segments: Regulated Utilities, International Energy, and Commercial Power. The Regulated Utilities segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, Ohio, Kentucky, and Indiana; and transports and sells natural gas in southwestern Ohio and northern Kentucky.
GlaxoSmithKline plc (ADR) (NYSE:GSK), ended its Wednesday’s trading session with -0.03% loss, and closed at $42.88.
GlaxoSmithKline plc (ADR) (GSK) is planning to create an independent, nonprofit research institute that will attempt to pioneer new technologies and approaches for decoding how genes are controlled and how they function.
The London pharmaceutical giant, which has large operations in the Philadelphia region, will invest more than $95 million over the next five years to launch the Altius Institute for Biomedical Sciences in Seattle.
GlaxoSmithKline and Altius have signed a 10-year partnership agreement that provides long-term support for the institute, which also anticipates to attract funding from public and other sources.
In establishing the research institute, GlaxoSmithKline hopes to gain a better understanding of gene control, which will guide the company in selecting and validating better drug targets and accelerating the development of new medicines.
GlaxoSmithKline plc creates, discovers, develops, manufactures, and markets pharmaceutical products, counting vaccines, over-the-counter medicines, and health-related consumer products worldwide. The company offers pharmaceutical products in the therapeutic areas, counting respiratory, anti-virals, central nervous system, cardiovascular and urogenital, metabolic, anti-bacterials, and emesis, dermatology, rare diseases, immuno-inflammation, vaccines, and HIV. It also provides consumer healthcare products in wellness, oral health, nutrition, and skin health areas.
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