GE Oil & Gas Making it Safe for All Players
Everybody remembers a certain oil spill that took place in 2010, and the $40B to clean up after the fact, which doesn’t include the fine for violating the Clean Water Act. This tragedy has planted a bug in the brain of those who conduct the same kind of transportation, and it's why GE is turning its attention to safety precautions that will prevent oil spills. GE Oil & Gas announced its agreement with Diamond Offshore Drilling, which will sell back its blowout preventers to GE Oil & Gas. Furthermore, GE will then rent them to the driller. This arrangement, or new business model, will ensure that GE provides all of the maintenance and repairs, and more importantly approves functionality in the case of an emergency. GE Oil & Gas’ CEO commented on the agreement and said, “We are changing the game with improved control, maintenance, and servicing of our equipment. We are putting skin in the game and guaranteeing performance.” To read more on this click here.
UL Acquires cr360
UL, a global leader in safety science, recently announced it’s expanding its environmental, health, and safety (EHS) portfolio by acquiring EHS provider cr360.
As a result of the acquisition, the company name will go from UL to UL EHS Sustainability. It will also carry out with nearly 400 employees. The primary software offering will consist of UL’s training and occupational health offerings and cr360’s EHS and sustainability management software suite. Commenting on the acquisition is UL’s (now UL EHS Sustainability) General Manager Mark Ward who said, “UL now has a more comprehensive EHS and sustainability global platform to give customers clarity, visibility, and insights into operational performance and risk, and ultimately, profitability.” Get up to speed about this on the LNS blog here.
GM Grants Michigan Tech $110,000
The General Motors Foundation has awarded Michigan Technological University a grant of $110,000. GE has been a supporter of Michigan Technological University for a long while, and decided to invest in the efforts the institution is making towards manufacturing initiatives.
It’s been stated that a large portion of the grant will go towards Michigan Tech’s manufacturing engineering initiative to help students focus on manufacturing engineering as a fulfilling career path. The manufacturing engineering initiative will be integrated into the Enterprise Program that already exists at Michigan Tech, where students work in teams that represent companies to complete real-world projects. To read more about GM’s grant distribution at Michigan Tech click here.
Climate Change Agenda Efforts Get Botched
The Supreme Court temporarily blocked President Obama’s climate change agenda this past Tuesday. It was stated in The New York Times that the Supreme Court’s eagerness to issue a stay indicates the climate change agenda could face future challenges.
Commenting on this announcement is LNS Research Analyst, Peter Bussey saying, “Although on the surface this looks like a big setback for carbon emissions reduction in the U.S., that train has left the station. It’s not a matter of if carbon emissions will be reduced, it’s when and how. Electric utilities are already implementing strategic decisions to retire coal-fired generation capacity. The legal fate of this particular regulation will not change the course that’s been set by larger economic, social, and environmental forces. Power producers are motivated to move to cleaner energy sources with or without the EPA’s Clean Power Plan.” To read more about this click here.
NEW Research Spotlight on strategies and recommendations for minimizing risk through a migration away from monolithic, single-plant MOM architectures through exploration of Cloud and IIoT technologies that are advancing in manufacturing today.