2020-05-27 Financial news
Alfa Laval signs agreement for waste heat recovery units – newly developed for land-based applications
Alfa Laval – a world leader in heat transfer, centrifugal separation and fluid handling – has signed an agreement with a Chinese system builder for the delivery of land-based waste heat recovery units. Alfa Laval has supplied large marine waste heat recovery systems for a long time. This newly developed unit – Alfa Laval Micro – is much smaller in size and specifically targets land-based applications. The frame agreement signals the market’s early acceptance of the new solution.
The agreement stretches over two years and comprises the delivery of Alfa Laval Micro units to power plants in Asia. Once installed, the units will recover waste heat to produce hot water which will be used for generating additional electricity. The new system can recover enough heat to boost power production by an additional 6-8 percent.
“This is an interesting, new application for Alfa Laval where we see a great potential,” says Susanne Pahlén Åklundh, President of the Energy Division. “We have worked with solutions for waste heat recovery for decades, and with the new Alfa Laval Micro WHR unit we complement our offering. This product can recover heat from any source with warm exhaust gases, such as power plants, and convert it into additional electricity. It is beneficial both for our customers’ bottom line, and for the environment.”
The two-year frame agreement has a total value of approximately SEK 60 million, split 50/50 over 2020 and 2021. As of the first quarter 2020, some SEK 30 million had already been booked in the Gasketed Plate Heat Exchangers unit of the Energy Division.
Energy recovery (and reuse) is vital to achieve energy efficiency in industrial processes. It is predicted that energy efficiency will be the main contributor to reaching the Paris Agreement.
Did you know that… according to IEA, the yearly investments in energy efficiency across the buildings, transport and industry sectors add up to $240 billion?
This is Alfa Laval
Alfa Laval is active in the areas of Energy, Marine, and Food & Water, offering its expertise, products, and service to a wide range of industries in some 100 countries. The company is committed to optimizing processes, creating responsible growth, and driving progress – always going the extra mile to support customers in achieving their business goals and sustainability targets.
Alfa Laval’s innovative technologies are dedicated to purifying, refining, and reusing materials, promoting more responsible use of natural resources. They contribute to improved energy efficiency and heat recovery, better water treatment, and reduced emissions. Thereby, Alfa Laval is not only accelerating success for its customers, but also for people and the planet. Making the world better, every day. It’s all about Advancing better™.
Alfa Laval has 17,500 employees. Annual sales in 2019 were SEK 46.5 billion (approx. EUR 4.4 billion). The company is listed on Nasdaq OMX.
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