GE and Kotzebue Electric Ink Generator Pact; Shares Down More Than 1%, But Still At High End of Yr Range
GE ( GE ) and the Kotzebue Electric Association, an electric cooperative that focuses on supplying electricity to the remote city of Kotzebue and other rural areas of Alaska, have launched a joint project to increase the energy efficiency and extend the fuel supply of several diesel engines powering Kotzebue.
For the initiative, GE will provide a Clean Cycle heat-to-power generator that will use the diesel engines' exhaust heat to produce electricity for the local grid.
GE is down 1.4% at near $23.30. Shares have a day range of $23.32 - $23.58, with a 52-week spread of $18.02 - $24.13.