Hello, Guest!
  • Thursday, April 18, 2024

Eileen Drake: Aerojet Rocketdyne Sells Energy Portfolio to Gas Technology Institute


PowerPlantThe Gas Technology Institute has bought the energy assets of Aerojet Rocketdyne (NYSE: AJRD) with the intent to accelerate the development of energy efficiency products for government and commercial sectors.

Eileen Drake, Aerojet Rocketdyne president and CEO, said Monday the company decided to divest its energy business to focus on the company’s aerospace and defense portfolio.

The sale covers 158 worldwide patents and intellectual property rights as well as facilities and technologies for gas and oil production, gasification, gas-to-liquid conversion, steam generation and compact hydrogen production.

GTI President and CEO David Carroll said the organization works to help public and private sectors turn scientific ideas into practical energy applications across the energy supply chain.

Aerojet Rocketdyne and GTI have collaborated over the past 10 years to develop a compact gasifier system to facilitate the process of converting coal into natural gas.

Video of the Day

Related Articles

Godspeed Capital-Backed Space & Missile Defense Tech Platform to Operate Under SAS Brand; Heather Bulk Quoted News

Godspeed Capital-Backed Space & Missile Defense Tech Platform to Operate Under SAS Brand; Heather Bulk Quoted

Godspeed Capital Management has partnered with Special Aerospace Services to establish a new platform focused on delivering space engineering, missile defense, hypersonics and communications technologies to U.S. defense and intelligence community agencies and commercial space clients. Heather Bulk, co-founder and CEO of SAS, will lead the new platform as it operates under the SAS brand,

Army Begins Market Research for ACCESS Acquisition Effort Contract Awards

Army Begins Market Research for ACCESS Acquisition Effort

The U.S. Army has started soliciting information from stakeholders to help inform its acquisition approach for the planned Army Contracting Command Enterprise for Sourcing Services procurement program, also known as ACCESS. ACCESS will be the successor to the multiple-award Responsive Strategic Sourcing for Services indefinite-delivery/indefinite-quantity contract, according to a request for information published Wednesday. The

Rick Simpson Named Chief Finance Officer at Exostar Executive Moves

Rick Simpson Named Chief Finance Officer at Exostar

Rick Simpson, formerly chief financial officer at CB Insights, has assumed the CFO position at Exostar, a Herndon, Virginia-headquartered provider of cloud-based secure business collaboration software. Simpson brings to the role three decades of experience overseeing corporate development, financial planning and analysis, human resources, corporate information technology and mergers and acquisitions for various companies, Exostar