Parker-Hannifin Aerospace Unit to Develop Phyre's Technology

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Parker-Hannifin Corporation 's PH operating arm, Parker Aerospace inked an agreement with Phyre Technologies, Inc. in order to work on developing the latter's patented catalytic inerting technology for aerospace applications.

Phyre Technologies is a privately held research and development company, which specializes in catalyst-based oxygen removal systems for both liquids and gases.

The exclusive license agreement calls for a collaboration that aims to bring catalytic inerting to the market.

Catalytic inerting is a pioneering concept that advances the applications of fuel tank inerting technology. Currently, this technology enables the generation of inert nitrogen gas by pressurizing air separation modules with engine-generated bleed air.

Catalytic inerting will allow the ullage air and vapors to be pulled from the fuel tank and passed through a catalyst, thus producing inert Oxygen Depleted Air ("ODA"). This inert ODA stream will then be cooled and dried, and thereafter redirected to the fuel tank to inert the ullage space.

This distinctive, self-contained system is entirely separated from the aircraft pneumatic system.

Phyre Technologies' research and development has resulted in successful demonstrations of the company's "GOBIGGS" or Green OBIGGS (on-board inert gas generation system) on quite a few military applications.

The collaboration will enable Phyre Technologies to leverage Parker's experience in fuel tank inerting which spans over 50 years.

The partnership will work toward commercializing the catalytic inerting concept. The technology has the potential to generate inert gas on board the aircraft without the need for a source of high-pressure air. The system would only need interfaces with the aircraft electrical system and fuel tank.

Through additional catalyst testing, the companies will work to confirm system life, as well as spread out and validate the operating envelope. The companies expect that the final catalytic system that will eventually go to market will be considerably smaller and lighter, and also involve lower maintenance costs.

PARKER HANNIFIN Price and Consensus


Parker Aerospace has recently won a string of contracts with Rolls-Royce (for supporting an engine development program); Kongsberg's and Raytheon's (to offer a thermal cooling system to Joint Strike Missile), and Commercial Aircraft Corporation of China (for providing over 60 types of components to C919 engines).

We believe that the collaboration with Phyre Technologies will help Parker Aerospace's carve a niche in its market.

Parker-Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, and generates about half of its business from maintenance, repair, and overhaul operations, which serve to moderate the effect of cyclical nature of its end markets to some degree.

Parker-Hannifin presently holds a Zacks Rank #2 (Buy). Some other stocks in the same space that are worth a look now include EnPro Industries, Inc. NPO , Ingersoll-Rand Plc IR and Luxfer Holdings PLC LXFR , each carrying the same rank as Parker-Hannifin.

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PARKER HANNIFIN (PH): Free Stock Analysis Report

INGERSOLL RAND (IR): Free Stock Analysis Report

ENPRO INDUS INC (NPO): Free Stock Analysis Report

LUXFER HOLDINGS (LXFR): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Business , Investing , Stocks
Referenced Symbols: PH , IR , NPO , LXFR

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