{"id":767710,"date":"2023-07-05T08:46:11","date_gmt":"2023-07-05T12:46:11","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/spg-expands-turbine-technology-partnership-with-honeywell-to-include-energy-services-market\/"},"modified":"2023-07-05T08:46:11","modified_gmt":"2023-07-05T12:46:11","slug":"spg-expands-turbine-technology-partnership-with-honeywell-to-include-energy-services-market","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/spg-expands-turbine-technology-partnership-with-honeywell-to-include-energy-services-market\/","title":{"rendered":"SPG expands turbine technology partnership with Honeywell to include Energy Services market"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>SPG expands turbine technology partnership with Honeywell to include Energy Services market<\/b><\/p>\n<p>BROOKSHIRE, Texas&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nSignal Power Group (\u201cSignal Power&#8221; or \u201cSPG\u201d) announced today an expansion of its partnership with Honeywell to broaden the reach of Honeywell\u2019s storied turboshaft turbine engine technology. The latest turboshaft technology, developed as part of Honeywell\u2019s T55-714C program, expands the partnership to now include the energy service market. The advanced turboshaft technology has been exclusively licensed to Signal Power, which will continue to be the original equipment manufacturer, for use in distributed power generation, combined heat and power, pressure pumping, marine propulsion, and other energy and industrial applications. These new equipment packages will broaden SPG\u2019s product offering and offer greater versatility to customers. The strategic relationship between Honeywell and Signal Power continues to be supported with investment funds managed by Morgan Stanley Energy Partners, part of Morgan Stanley Investment Management, which remains the majority shareholder in SPG.<\/p>\n<p>\n\u201cThese turboshaft upgrades will create a new paradigm for high-density energy solutions with applications in the industrial, energy service and marine industries. The technology offers many advantages that include significantly more horsepower, lower maintenance hours and costs, substantially lower emissions, and greater fuel efficiency. Innovative solutions from Signal Power and Honeywell will accelerate the transition to environmentally friendly fuel sources, renewable natural gas and hydrogen blends, that provide our customers lower-cost alternatives and reduce their carbon footprint with a clean source of power,\u201d said Rob Marchitello, Chief Executive Officer of SPG.<\/p>\n<p>\n\u201cThis expanded license will further support the ongoing and historic transition from diesel fuel-based equipment to lower cost and cleaner fuel sources, including natural gas and even hydrogen,\u201d said Rod Hynes, Vice President Defense Americas at Honeywell Aerospace. \u201cThe ability under this license to now provide a more efficient 6,000 shaft horsepower class turbine engine in the energy service markets should further separate SPG from its competition.\u201d<\/p>\n<p>\n\u201cWe are proud to support the continued growth of SPG and its outstanding team in its expanding strategic alliance with Honeywell, a world-class partner with market-leading turbine engine technology,\u201d said John Moon, head of Morgan Stanley Energy Partners. \u201cWe believe that this license for the improved turboshaft technology further differentiates SPG\u2019s product offering and delivers a drop-in replacement for its current engine providing even greater value to customers.\u201d<\/p>\n<p>\nSPG continues to serve its energy service, industrial and marine customers with a complete portfolio of solutions, including a patented controls technology and a proprietary multispeed gearbox delivering a range of speeds engineered for specific customer applications. SPG provides a wide range of service plans that include performance monitoring and predictive maintenance, further reducing downtime and costs.<\/p>\n<p>\nAs part of their strategic relationship, Honeywell and SPG will continue exploring even higher horsepower engines and advance the use of alternate and hydrogen blended fuels to further reduce emissions in its equipment.<\/p>\n<p>\nFor more information on Honeywell\u2019s gas turbine, or aerospace propulsion offerings, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Faerospace.honeywell.com&amp;esheet=53438892&amp;newsitemid=20230703100004&amp;lan=en-US&amp;anchor=aerospace.honeywell.com&amp;index=1&amp;md5=cea062864cfa6619c09a2dde68caae4d\">aerospace.honeywell.com<\/a>.<\/p>\n<p><b>About SPG<\/b><\/p>\n<p>\nSPG is a leading provider of sustainable energy solutions, and related services for the global industrial, energy and marine markets. SPG\u2019s product offerings include turbine drive trains and related solutions for electric power generation, including microgrids, datacenters, combined heat and power and mobile power solutions, natural resources applications and the marine end markets. SPG is a portfolio company of Morgan Stanley Energy Partners.<\/p>\n<p><b>About Morgan Stanley Energy Partners<\/b><\/p>\n<p>\nMorgan Stanley Energy Partners, the energy-focused private equity business of Morgan Stanley Investment Management, is a leading energy private equity platform that makes privately negotiated equity and equity-related investments in energy companies located primarily in North America. Morgan Stanley Energy Partners pursues a differentiated investment strategy, focused on the buyout and build-up of strategically attractive, established energy businesses across the energy value chain in partnership with world-class management teams. For further information about Morgan Stanley Energy Partners, please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.morganstanley.com%2Fim%2Fenergypartners&amp;esheet=53438892&amp;newsitemid=20230703100004&amp;lan=en-US&amp;anchor=www.morganstanley.com%2Fim%2Fenergypartners&amp;index=2&amp;md5=92fca14e0073b84d0f937dd72547e6ad\">www.morganstanley.com\/im\/energypartners<\/a>.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230703100004r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230703100004\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230703100004\/en\/<\/a><\/span><\/p>\n<p><b><i>SPG Contact:<br \/>\n<\/i><\/b><br \/><i>J Chris Boswell, Chief Commercial Officer<br \/>\n<\/i><br \/><a rel=\"nofollow\" href=\"mailto:investorrelations@signalpwr.com\"><i>investorrelations@signalpwr.com<br \/>\n<\/i><\/a><br \/><i>Phone: +1 888-SPG-POWR<\/i><\/p>\n<p><b><i>Morgan Stanley Energy Partners Contact:<br \/>\n<\/i><\/b><br \/><i>Alyson Barnes, Executive Director<br \/>\n<\/i><br \/><a rel=\"nofollow\" href=\"mailto:alyson.barnes@morganstanley.com\"><i>alyson.barnes@morganstanley.com<br \/>\n<\/i><\/a><br \/><i>Phone: +1 646 536-1733<\/i><\/p>\n<p><b>KEYWORDS:<\/b> Texas New York United States India Sweden South America Finland Argentina North America Asia Pacific Canada Europe<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Banking Professional Services Other Energy Other Transport Utilities Oil\/Gas Coal Maritime Alternative Energy Energy Transport Nuclear Other Defense Contracts Defense Finance Consulting<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>SPG expands turbine technology partnership with Honeywell to include Energy Services market BROOKSHIRE, Texas&#8211;(BUSINESS WIRE)&#8211; Signal Power Group (\u201cSignal Power&#8221; or \u201cSPG\u201d) announced today an expansion of its partnership with Honeywell to broaden the reach of Honeywell\u2019s storied turboshaft turbine engine technology. The latest turboshaft technology, developed as part of Honeywell\u2019s T55-714C program, expands the partnership to now include the energy service market. The advanced turboshaft technology has been exclusively licensed to Signal Power, which will continue to be the original equipment manufacturer, for use in distributed power generation, combined heat and power, pressure pumping, marine propulsion, and other energy and industrial applications. These new equipment packages will broaden SPG\u2019s product offering and offer greater versatility to customers. The strategic &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/spg-expands-turbine-technology-partnership-with-honeywell-to-include-energy-services-market\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SPG expands turbine technology partnership with Honeywell to include Energy Services market&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-767710","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SPG expands turbine technology partnership with Honeywell to include Energy Services market - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/spg-expands-turbine-technology-partnership-with-honeywell-to-include-energy-services-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SPG expands turbine technology partnership with Honeywell to include Energy Services market - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SPG expands turbine technology partnership with Honeywell to include Energy Services market BROOKSHIRE, Texas&#8211;(BUSINESS WIRE)&#8211; Signal Power Group (\u201cSignal Power&#8221; or \u201cSPG\u201d) announced today an expansion of its partnership with Honeywell to broaden the reach of Honeywell\u2019s storied turboshaft turbine engine technology. The latest turboshaft technology, developed as part of Honeywell\u2019s T55-714C program, expands the partnership to now include the energy service market. The advanced turboshaft technology has been exclusively licensed to Signal Power, which will continue to be the original equipment manufacturer, for use in distributed power generation, combined heat and power, pressure pumping, marine propulsion, and other energy and industrial applications. These new equipment packages will broaden SPG\u2019s product offering and offer greater versatility to customers. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/spg-expands-turbine-technology-partnership-with-honeywell-to-include-energy-services-market\/","og_locale":"en_US","og_type":"article","og_title":"SPG expands turbine technology partnership with Honeywell to include Energy Services market - Market Newsdesk","og_description":"SPG expands turbine technology partnership with Honeywell to include Energy Services market BROOKSHIRE, Texas&#8211;(BUSINESS WIRE)&#8211; Signal Power Group (\u201cSignal Power&#8221; or \u201cSPG\u201d) announced today an expansion of its partnership with Honeywell to broaden the reach of Honeywell\u2019s storied turboshaft turbine engine technology. The latest turboshaft technology, developed as part of Honeywell\u2019s T55-714C program, expands the partnership to now include the energy service market. The advanced turboshaft technology has been exclusively licensed to Signal Power, which will continue to be the original equipment manufacturer, for use in distributed power generation, combined heat and power, pressure pumping, marine propulsion, and other energy and industrial applications. These new equipment packages will broaden SPG\u2019s product offering and offer greater versatility to customers. 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