GTI Announces Acquisition of Aerojet Rocketdyne Energy Assets
07/20/15 Des Plaines, IL
Gas Technology Institute (GTI) today announced it has acquired the assets of Aerojet Rocketdyne's (AR’s) energy systems portfolio. AR's Power & Energy Solutions group has developed technology for clean fossil energy systems. Included in the transfer of assets are patents and intellectual property (IP), physical assets, and technologies across the spectrum of gas and oil production, gasification, gas-to-liquids, power generation, and hydrogen generation.
GTI has worked closely with AR for ten years, hosting the development of their compact gasifier for coal and natural gas conversion. "As AR exits the terrestrial energy business, we are eager to continue their important work," says David Carroll, GTI president and CEO. "GTI focuses on bringing together public and private sectors to transition solid scientific concepts to practical real-world applications with partners from around the world. Our research initiatives span the entire energy value chain—supply, delivery and end use—and we are committed to developing and commercializing new technologies that can make a difference for consumers and industry in the U.S. and abroad. This strategic acquisition will continue to expand and diversify the supply of energy resources, and permit cleaner, more efficient, and more economical production of power, fuels, and chemicals."
With the agreement, GTI acquired a global portfolio of 158 patents and patent applications, as well as related physical assets that span seven technologies: partial oxidation for gas-to-liquids (GTL); compact hydrogen generation; advanced compact coal gasification; dry solids pump technology; pressurized fluidized bed combustion; supercritical CO2 turbine technology; and surface and downhole steam generation.
"This strategic move is part of our company's refined focus on our core business strengths in the aerospace and defense industry," says Eileen Drake, CEO and president of AR. "We are confident that GTI can seamlessly assume AR's government energy contracts and maintain the strong relationship we have established with the Department of Energy. GTI has comprehensive experience and a proven track record for delivering solutions that access and enable productive uses of our energy resources. They have the capability to bring together the right network of partners and funding and are uniquely positioned to bring innovative energy solutions to the market."
"I think this is a winning situation for everyone involved. AR will benefit from GTI's strengths and reputation within the energy industry, and GTI will have the opportunity to serve a broader market and offer a wider range of services. Our customers, industry partners, and the Department of Energy will all benefit from the commercialization capability of GTI supported by ongoing technical support from AR."
About Gas Technology Institute (GTI)
GTI is a leading research, development and training organization that has been addressing global energy and environmental challenges by developing technology-based solutions for consumers, industry, and government for more than 75 years.
About Aerojet Rocketdyne (AR)
Aerojet Rocketdyne is an innovative company delivering solutions that create value for its customers in the aerospace and defense markets. The company is a world-recognized aerospace and defense leader that provides propulsion and energetics to the space, missile defense and strategic systems, tactical systems and armaments areas, in support of domestic and international markets. Additional information about Aerojet Rocketdyne can be obtained by visiting our websites at www.Rocket.com and www.AerojetRocketdyne.com