Articles from INNIO

INNIO N.V. (Nasdaq: INIO) (“INNIO” or the “Company”) today announced that Fitch Ratings has upgraded the Company’s credit ratings, following a recent upgrade by Moody’s Ratings. INNIO also reaffirmed its financial policy framework, which supports investment in profitable growth while continuing to strengthen the Company’s balance sheet.

INNIO today announced that its Jenbacher Ready for H2 engine technology has been selected by NorthC Datacenters (NorthC) to deliver an emergency backup power solution for its newest data center, which will be constructed in Eindhoven, Netherlands. Six Jenbacher hydrogen engines will provide carbon-free emergency backup power in cases of electricity grid outages. The Jenbacher Type 4 hydrogen engines generate a total power output of six megawatt and will be delivered as a containerized package. The Eindhoven data center including the hydrogen emergency backup power solution and the onsite hydrogen storage solution is a greenfield project, that is expected to be operational in the second half of 2023.

INNIO’s Waukesha Gas Engines Inc. today announced that it has been accepted as a member of the U.S. Environmental Protection Agency’s (EPA) Natural Gas STAR Program. In joining the program as an Equipment and Service Provider, INNIO becomes part of a distinguished group of businesses that facilitates methane emission reduction technologies and activities while communicating successes and lessons learned to employees and other members.

INNIO and TIWAG today announce that TINEXT, a TIWAG (Tiroler Wasserkraft AG) subsidiary, will supply INNIO’s primary operations in Jenbach with green hydrogen (H2) by 2025. At the same time, excess power and heat will be fed into the local power grid and district heating network. Once sufficient quantities of green hydrogen are available, additional areas of application are planned, such as supplying an INNIO plant gas station or refueling local logistics companies’ vehicles.

INNIO today announced that EcoVadis has awarded the INNIO Group, including its Jenbacher and Waukesha product lines, with a platinum medal as part of its sustainability performance rating, placing INNIO in the top 1% of all businesses evaluated by EcoVadis. This platinum award reflects demonstrated improvements and contributions towards sustainable growth in the past year, with notable score improvement in Environment, and Sustainable Procurement and continued strong performance in Labor & Human Rights and Ethics categories.

INNIO in collaboration with Raven SR today announced Raven SR’s plans to use INNIO’s Jenbacher engines [60 Hz] with a “Ready for H2” option to produce renewable energy. The energy system will power and heat Raven SR’s S- Series hydrogen production facility at a sanitary landfill in Richmond, California. At the site, landfill gas (LFG) will be the primary fuel to provide power for the non-combustion process that converts waste to hydrogen. The hydrogen product will be resold to power fuel cells in heavy-duty trucks. The Raven SR process will also provide a residual fuel containing residual green hydrogen from the concentration process to supplement the LFG to fuel the Jenbacher Ready-for-H2 engines to generate renewable power in a continuous loop.

INNIO announced today that it has signed a Memorandum of Understanding (MoU) with B.Grimm Power to collaborate on building new power plant projects in Thailand. B.Grimm has a long and successful history as a trailblazer in Thailand’s private power generation industry. The MoU lays out the framework for a collaboration of the two companies to build projects in the period 2022 to 2024 within the liquified natural gas (LNG) and natural gas segment. Within the MoU, INNIO and B.Grimm will explore the development of decentralized and highly efficient power plants. The two companies will focus on jointly developing the LNG and natural gas segment in Thailand with the possibility of future projects.

INNIO, a leading energy solution and service provider, has published its Sustainability Report for 2021 Together Towards Zero, which defines the company’s performance in meeting environmental, social, and governance (ESG) goals. While INNIO is currently empowering industries and communities to transition to net zero, this report – prepared in accordance with GRI and SASB standards – formally communicates on progress and sustainability-related performance providing, transparency about how INNIO is contributing to a green tomorrow.

INNIO today announced that it has received an Environmental, Social and Governance (ESG) rating of 11.0 from Sustainalytics, assessing INNIO to be at “Low Risk” of experiencing material financial impacts from ESG factors. INNIO’s ESG Risk Rating places it number one of more than 500 companies in the Machinery industry assessed by Sustainalytics.* The assessment identifies INNIO’s strong performance across a broad range of ESG metrics.

INNIO announced today that it has signed a memorandum of understanding (MOU) with Concord Renewable Energy SDN BHD (Concord Group) to partner in building four power plants across Malaysia fueled by palm oil wastes. The MOU signing took place at Dubai Expo 2020, in a festivity ceremony organized and held by the Malaysian Ministry of Energy and Natural Resources (KeTSA) for Sustainable Energy and Natural Resources week at Malaysia Pavilion, which took place January 30 – February 5, 2022. The project emphasizes Malaysia’s efforts to achieve its COP26 commitments in moving away from fossil fuels and increasing renewable energy projects. The power plants, built in various parts of Malaysia, will deliver sustainable power to the grid while capturing methane. Each plant is expected to operate two INNIO Jenbacher high-efficiency biogas engines, collectively delivering more than 8 MW of power to the grid.

INNIO today announced that its Jenbacher business unit has been recognized by EcoVadis with a Gold Medal as part of its annual sustainability performance rating, placing INNIO Jenbacher in the top 1% of industry peers evaluated by EcoVadis. EcoVadis awarded INNIO Jenbacher the upgrade from a Silver to a Gold Medal rating for its demonstrated improvements and contributions towards sustainable growth in the past year.

INNIO Waukesha Gas Engines announced today that it has been selected to receive more than $2.2 million in funding from the U.S. Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E). The funding is part of ARPA-E’s “Reducing Emissions of Methane Every Day of the Year” (REMEDY) program that was unveiled earlier this year. The program aims to reduce emissions in the oil, gas, and coal industries and promote innovation and manufacturing of new technologies to achieve climate goals.

While efforts to transform the energy system are being ramped up, the demands placed on energy generation are increasing as well. On one hand, there are fluctuations in power generation due to the volatility of renewable energy. On the other hand, the demand for energy is continually increasing due to growing levels of electrification. At the same time, coal and nuclear power plants are more often being replaced by smaller on-site power plants.

INNIO today announced that Hyosung Heavy Industries (Hyosung) has selected INNIO Jenbacher ‘Ready for Hydrogen’ engine technology for the first pilot power plant project in APAC that will be fueled by 100% hydrogen. The pilot hydrogen power plant will be built at the Hyosung Chemical Yongyeon Plant in Ulsan, South Korea, setting a benchmark by becoming the first 100% hydrogen power plant to be operated in the region. It will run on hydrogen produced as a byproduct at the chemical plant that is normally sold off to an industrial gas company. The project is expected to achieve commercial operation in 3Q 2022 and complete the demonstration by end of 2022.

INNIO announced today that it has signed on to the Science Based Targets initiative (SBTi) to set science-based emissions reduction targets in line with 1.5°C emissions scenarios, criteria and recommendations. This commitment builds on INNIO’s leading position as a shaper of the energy transition. In addition, INNIO is proud to join the Race to Zero, a global campaign established by the United Nations Framework Convention on Climate Change (UNFCCC) to bring together global leadership for a healthy, resilient, and zero-carbon future.

INNIO* Jenbacher* is offering gas engine solutions to help accelerate the ramp up of off-grid power charging for electric vehicles. Starting with natural gas, Jenbacher gas engines can be converted to hydrogen operation once hydrogen experiences increased economic availability.

As part of its ongoing commitment to environmental stewardship, INNIO today announced the publication of its inaugural Sustainability Report, “Together for a Sustainable Future.” The theme of this report encompasses engagement of everyone -- with “together” being the key word indicating responsibility of all stakeholders in a journey to shape a sustainable future. The report highlights INNIO’s commitment to instituting a culture of transparency, providing progress updates and direction on INNIO’s global approach to sustainability covering its environmental, social, and governance (ESG) performance for 2020.

INNIO today announced that it has joined the United Nations Global Compact, the world’s largest corporate sustainability initiative. In joining this critical voluntary leadership platform, INNIO continues its path to build on an expanded commitment to its environmental, social and governance (ESG) program. As part of the Global Compact initiative — which is focused on the development, implementation and disclosure of responsible business practices – INNIO proudly aligns itself with thousands of other companies and non-business signatories globally committed to taking responsible business action to create a better world.

As a key enabler and an integral part of the energy transition, today INNIO announced the launch of its “Ready for H2” portfolio that includes 100% hydrogen-fueled Jenbacher H2-engines. INNIO’s “Ready for H2” gas engine portfolio is built on a long history of innovation with more than 30 years of experience and expertise in the use of renewable fuels and hydrogen-rich fuels, such as syngas and process gases for power generation.

INNIO Jenbacher receives two new orders to supply gas engines for innovative SynCraft wood gas power plants. As a result, the two Tyrolean companies, who have collaborated on successful joint projects for many years, have set another milestone in the growing use of biomass for power generation. SynCraft wood gas power plants equipped with Jenbacher gas engines are already successfully operating in Austria, Germany, Italy, Croatia, Switzerland, and Japan, with new projects in Germany, Austria, and Japan currently at an advanced stage of planning.

INNIO Jenbacher’s commitment to a climate-neutral, greener and more secure energy future was recognized by EcoVadis with a Silver Medal Rating for 2021, placing INNIO Jenbacher in the top 17% of its peers working towards sustainability. The prestigious EcoVadis sustainability ratings are based on a methodological framework that takes a deep dive into the policies and actions of companies as well as their published reports on the environment, labor and human rights, ethics and sustainable procurement.