Alfa Laval, Schneider Electric Extend Deal To Improve Energy Performance

Alfa Laval (ALFVY) that specializes in heat transfer, centrifugal separation, fluid handling etc. and Schneider Electric (SBGSY) that provides energy and automation digital solutions, on Wednesday announced an extension of their global collaboration that began in 2019.

The two companies would now be working together to develop Alfa Laval's roadmap towards extended use of renewable energy. The switching from natural gas to other more sustainable alternatives assumes significance in the context of Alfa Laval's target of achieving carbon neutrality across the entire value chain by 2030.

The financials of the deal have not been disclosed.

The two companies have partnered to digitize and analyze near real-time energy consumption data across sites, countries and regions so as to identify and define energy efficiency projects as well as improve operational efficiency. Capturing energy consumption data across the business had resulted in the identification of energy efficiency projects as well as initiatives to reduce energy usage and cost across sites, countries, and regions.

Sweden-headquartered Alfa Laval also said that it has joined the U.N. accredited Exponential Roadmap Initiative to support the implementation of energy efficient solutions. The company expects the extended partnership agreement with Schneider Electric to be another concrete activity of reaching the 1.5°C scenario set in the Paris Agreement.

ALFVY closed Tuesday's trading at $40.28, down $0.42 or 1.03 percent from previous close.

SBGSY closed Tuesday's trading at $36.46, up $0.21 or 0.58 percent from previous close.

For comments and feedback contact: editorial@rttnews.com

Follow RTT