GE Signs MOU with China's Endurance Industry for 260 CNG In A Box™ Systems; Opens Shenyang Compresso

GE Signs MOU with China's Endurance Industry for 260 CNG In A Box™ Systems; Opens Shenyang Compressor Facility to Meet Regional Demand for Natural Gas Solutions

• GE Solidifies Commitment to Modernizing China's Energy Solutions with Advanced CNG Fueling Infrastructure

• Memorandum of Understanding for Purchase of 260 CNG In A Box™ Systems by Endurance; Infrastructure to Help Reduce Emissions in China

• Opens High-Speed Reciprocating Compressor Manufacturing Facility in Shenyang, China

SHENYANG, China--(BUSINESS WIRE)-- GE Oil & Gas (NYS: GE) today announced a collaboration with Endurance Industry, a well-established manufacturer of oil and gas, environmental and auto equipment, for the purchase of 260 CNG In A Box™ systems over the next three years. The announcement was made in conjunction with the grand opening of GE's high-speed reciprocating compressor manufacturing facility in Shenyang, China.

GE's innovative CNG In A Box system provides Endurance and its customers with a small-scale, plug-and-play compressed natural gas (CNG) fueling solution, helping to increase local natural gas fueling infrastructure throughout China. It is designed specifically to address the country's rapid urbanization—which is creating an increased demand for fuel for vehicles and industrial uses —and to alleviate increased stress on its limited natural gas pipelines. The transition to natural gas fueling stations falls in line with China's current trend toward converting its fueling efforts from gasoline and diesel to cleaner, more economical natural gas.

"China's vast reserves of natural gas, shallow coal-bed methane and recoverable shale gas allow it to gradually transition from traditional fuel sources to efficient and environmentally friendly natural gas options, enabling the country to lessen its dependence on foreign fuel supplies," said Lin Chaoyang, chairman, Endurance Industry. "Through the implementation of natural gas solutions such as GE's CNG In A Box technology, Endurance will help to greatly reduce CO₂emissions throughout the country."

As a GE ecomagination qualified product, CNG fueling through the CNG In A Box solution reduces CO₂ emissions by 24 percent (2.2 metric tons per vehicle, per year as compared with gasoline¹), and its CO, NO_x, PM and VOC reduction benefits are even greater. A vehicle using CNG can reduce annual fuel costs by up to 40 percent, assuming 27,500 miles per year driven, gasoline priced at $3.50/gallon and CNG at $2.09/gasoline gallon equivalent.

The CNG fuel station configuration that GE is supplying to Endurance features a standard-sized CNG In A Box unit with multiple, smaller "daughter" stations running off of it. This design minimizes the need for pre-existing natural gas pipelines. The advanced monitoring capabilities of the larger station enable it to automatically feed into the smaller stations when fuel is running low to reduce wait times typically associated with China's current natural gas fueling infrastructure.

An integral part of GE's natural gas solutions including the CNG In A Box system is its high-speed reciprocating (HSR) compressor. These compressors are the core technology in the creation of small and modular gas monetization solutions from optimizing production at a gas or oil well site, creating power in remote areas to transforming the transportation industry with CNG and liquefied natural gas (LNG) alternatives. GE's new Shenyang HSR compressor facility creates a local supply chain for this technology, cutting lead times by up to 50 percent for regional customers and providing local service support. During the first phase of operation, the Shenyang facility will build to a production capacity of 300 HSR units per year, with the potential for further expansion as the local industry develops. This new capacity for the China market is in addition to GE's primary HSR manufacturing facility, located near Houston, Texas. This localized manufacturing initiative enables customers to implement GE's natural gas solutions quickly and economically.

The first sets of HSR units produced from the Shenyang facility already have been purchased by Chinese customers CIMC Enric and Jerrywon Energy Equipments Co., Ltd. The new facility, which opened in June, was built at a preexisting GE facility in Shenyang that specializes in renewable energy and flow and process technologies.

"GE is committed to helping China in its plans to reduce its dependence on coal power plants, diesel-powered mining and industrial complexes and petrol and diesel-based transportation infrastructure, replacing it with cleaner and locally produced natural gas," said Xu Xin, general manager, GE Oil & Gas, China. "The grand opening of our new manufacturing facility in Shenyang brings our advanced CNG and LNG technology closer than ever before to our Chinese customers."

GE Oil & Gas' new manufacturing facility is part of the company's strategy to localize its footprint and bring advanced fueling technology closer to its customers. The opening of its HSR manufacturing facility allows GE to establish itself as a local expert in China in the unconventional resources space with its innovative natural gas solutions.

"Together with Endurance and other regional customers, we can continue to build China's natural gas infrastructure and support its efforts to build a sustainable energy future," said Xin.

¹ Assuming average light-duty vehicles travel 27,500 miles/year at 17 mpg, with $3.50/gal gasoline and $2.09/gal CNG per gasoline gallon equivalent.

About GE

GE (NYS: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

About GE Oil & Gas

GE Oil & Gas is a world leader in advanced technologies and services with 43,000 employees in more than 100 countries supporting customers across the industry—from extraction to transportation to end use. Our unrelenting commitment to the environment, health and safety, quality and integrity defines us: it's The Way We Work.

We develop smart solutions for our customers across the oil and gas value chain delivering the innovation, customized service solutions, training programs and technology that helps them to maximize their efficiency, productivity and equipment reliability.

We partner with our customers to develop their next generation workforce; help them to fully benefit from the megatrends of natural gas, the growth of subsea and hard-to-reach reserves and the revolution in asset health management. Follow GE Oil & Gas on Twitter @GE_OilandGas.

About Endurance Industry

Chongqing Endurance Industry Stock Co. Ltd (formerly known as Chongqing Instruments Factory which was established in 1958) is a manufacturer of oil & gas equipment, military equipment, environmental equipment and auto parts. We are a stock-holding corporation that provides research, manufacturing and engineering services. Our company has the Enterprise Technical Centre which is approved by the state ministries. In China, we are the manufacturing base for national military oil equipment and camping equipment, and the only supporting company for Mobilization Centre of National Oil Equipment, Besides, We are also awarded by the government as the Leading Enterprises for Reemployment and tax-paying, and one of the Top 50 Industrial Enterprises of Chongqing.

GE Oil & Gas
Sean Gannon, +203-224-9481
sean.gannon@ge.com
or
GE Oil & Gas
Caitlin Shaw, +1 713-396-6630
caitlin.shaw@ge.com
or
Masto Public Relations
Tom Murnane or Howard Masto
+1 518-786-6488
tom.murnane@mastopr.com
howard.masto@ge.com

KEYWORDS: United States Asia Pacific North America China New York

INDUSTRY KEYWORDS:

The article GE Signs MOU with China's Endurance Industry for 260 CNG In A Box™ Systems; Opens Shenyang Compressor Facility to Meet Regional Demand for Natural Gas Solutions originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.