Yahoo Finance Emerson (EMR) Selected as Automation Partner by KOHYGEN
Emerson Electric Co. EMR has been selected by Korea Hydrogen Green Energy Network (KOHYGEN) to provide the latter with automation solutions for its hydrogen refueling station namely JeonjuPyeonghwa Hydrogen Refueling Station. This project is a vital step for the two companies to reach their goals of reducing emissions, accelerating the transition to a net-zero global economy and driving investment in hydrogen.
It is worth noting that KOHYGEN recently completed the construction of JeonjuPyeonghwa Hydrogen Refueling Station, which is the world’s largest hydrogen refueling station for commercial vehicles. The company plans to construct 34 other high-capacity gas and liquid hydrogen refueling stations by the year 2025 across the country.
The JeonjuPyeonghwa Hydrogen Refueling Station is capable of charging 300 kilograms per hour. It can power a maximum of 15 buses and trucks per hour, or over 100 buses and trucks per day. The number is 12 times more than an average capacity hydrogen station.
Per the deal, Emerson will be responsible for providing its expertise across the hydrogen value chain as well as technology like temperature transmitters, pressure transmitters, flowmeters, programmable logic controllers (PLC) and valves. The state-of-the-art technology provided by Emerson will enable KOHYGEN to develop a marketable hydrogen charging model to grow Korea’s domestic hydrogen market.
Emerson and KOHYGEN are working together on technical standards for other high-capacity commercial refueling stations, aiming to stabilize hydrogen supply chain. KOHYGEN intends to enhance the hydrogen supply platform to service hydrogen-powered aircraft, ships and other forms of transportation.
Emerson Electric Co. Price
Emerson Electric Co. price | Emerson Electric Co. Quote
“In line with Emerson’s ‘Greening By’ sustainability strategy, we’ve worked on a range of hydrogen projects globally, applying our expertise and innovative technologies to scale hydrogen consumption and make renewable energy a reality,” said Mike Train, Emerson’s chief sustainability officer. “Partnering with KOHYGEN is another critical step forward in diversifying our global energy mix.”
Zacks Rank and Other Key Picks
EMR currently carries a Zacks Rank #4 (Sell).
Some better-ranked companies from the Industrial Products sector are discussed below:
Applied Industrial Technologies, Inc. AIT presently has a Zacks Rank #1 (Strong Buy) and a trailing four-quarter earnings surprise of 24.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
AIT’s earnings estimates have increased 4.6% for fiscal 2023 (ending June 2023) in the past 60 days. Shares of Applied Industrial have risen 26.8% in the past six months.
IDEX Corporation IEX presently has a Zacks Rank of #2 (Buy). IEX’s earnings surprise in the last four quarters was 5.7%, on average.
In the past 60 days, IDEX’s earnings estimates have increased 1.8% for 2022. The stock has rallied 23.4% in the past six months.
EnerSys ENS delivered an average four-quarter earnings surprise of 2.1%. ENS presently carries a Zacks Rank of 2.
ENS’ earnings estimates have increased 0.6% for fiscal 2023 (ending March 2023) in the past 60 days. The stock has gained 11.6% in the past six months.
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