Richardson Electronics, Ltd. Announces Large-Scale Pitch Energy Module Retrofit Program
RICHARDSON ELECTRONICS, (NASDAQ: RELL) announced a partnership with Suzlon Energy to provide pitch energy modules for wind turbines, showcasing their patented technology at upcoming events. Richardson Electronics leads in PEM design and manufacturing, aligning with Suzlon's expert wind turbine development. Suzlon, a global renewable energy provider, has 12,000+ turbines worldwide, including over 9,000 in India, boasting 20.5 GW of wind energy capacity.
Partnership with Suzlon Energy to provide pitch energy modules for wind turbines, showcasing patented technology at upcoming events
Leading in PEM design and manufacturing, aligning with Suzlon's expert wind turbine development
Suzlon, a global renewable energy provider, with 12,000+ turbines worldwide, including over 9,000 in India
Suzlon boasts 20.5 GW of wind energy capacity, making them a significant player in the renewable energy sector
Competition in the renewable energy market may impact market share
Dependency on Suzlon's success and market performance for partnership success
Global economic and political factors could affect the renewable energy sector and companies like Richardson Electronics
Insights
Richardson Electronics' move to provide patented Pitch Energy Module technology to Suzlon Energy marks a strategic step in enhancing the reliability and efficiency of renewable energy solutions. This collaboration supports the trend of increasing global investment in sustainable energy infrastructure. The retrofit program could result in improved operational performance for Suzlon's wind turbines, potentially leading to higher energy output and better long-term cost efficiencies.
Investors should take note of the scalability of this technology, as it aligns with the burgeoning demand for clean energy and may open further avenues for growth within the renewable sector. The potential for increased market share and enhanced revenue streams for Richardson Electronics is a factor worth monitoring in subsequent financial reporting periods. However, it is important for investors to consider the capital expenditure associated with the retrofit program and the time horizon for return on investment.
The patented Pitch Energy Module technology developed by Richardson Electronics signifies a technical advancement in wind turbine power management. The ability to integrate these modules without modifying existing battery boxes and their compatibility with current chargers and controllers enhances wind turbine uptime and reduces maintenance costs. For stakeholders, the adoption of Richardson's technology by Suzlon underscores a commitment to technological innovation within the renewable sector.
From a technological standpoint, the increased reliability of pitch systems due to this retrofit could reduce turbine downtime, which is a critical factor in the wind energy industry. By considering the operational impact of Richardson's PEMs, investors can assess the potential for improved asset performance, which is key to determining the sustainability and profitability of investments in the wind sector.
This partnership between Richardson Electronics and Suzlon Energy could be indicative of evolving trends in the renewable energy market. With a growing global focus on sustainability, the development and deployment of advanced energy solutions like PEMs are likely to gain traction. Given Suzlon's expansive wind turbine fleet, Richardson's PEMs could see widespread adoption, creating significant market opportunities.
Investors should consider the broader market implications of this retrofit program, including potential shifts in competitive dynamics and the influence on supply chains within the renewable energy industry. Analysis of market growth projections, particularly in regions with high wind energy potential, will be useful in understanding the potential scale of impact on Richardson Electronics' market position and financial performance.
Richardson will be providing their patented Pitch Energy Module technology to Suzlon worldwide.
LAFOX, Ill., April 30, 2024 (GLOBE NEWSWIRE) -- Richardson Electronics, Ltd. (NASDAQ: RELL), a global provider of engineered solutions for renewable energy and other power management applications, announced a strategic partnership with Suzlon Energy Limited, India's largest renewable energy solutions provider. Richardson Electronics will develop pitch energy modules for Suzlon's global fleet of wind turbines, a testament to their engineered solutions expertise and commitment to advancing renewable energy solutions. Suzlon has over 12,000 wind turbines worldwide with over 9,000 in India.
Suzlon is a leading Renewable Energy solutions provider with over ~20.5 GW* of Wind Energy capacity installed across 17 nations. A vertically integrated organization with in-house R&D centers in Germany, the Netherlands, Denmark, and India, Suzlon's world-class manufacturing facilities are spread across multiple locations in India. Suzlon has a 28-year operational history and nearly 6,300 diverse professionals. As India's largest Wind Energy service provider, it manages a portfolio of 14.5 GW Wind Energy assets.
Richardson Electronics’ pitch energy modules (patented technology) are drop-in replacements for batteries in pitch systems ranging from 150V to 500V DC and can be installed with no modifications to the battery box. Richardson Electronics’ PEMs work with existing chargers and controllers. These plug-and-play modules are easy to install, increase wind turbine uptime, and reduce labor costs in both time and frequency.
“We are extremely excited about our program with Suzlon. They are an excellent company with an amazing team at all levels. With Richardson Electronics being the world leader in the design and manufacturing of PEMs for the Wind Turbine Market to partner with Suzlon, a world leader in the design and development of wind turbines, it has all the components of a great long-term successful relationship," stated Greg Peloquin, Executive Vice President and General Manager of Power & Microwave Technologies and Green Energy Solutions groups.
Richardson Electronics will showcase its ultracapacitor pitch energy modules and other product solutions for wind turbine platforms at the upcoming events:
- CLEANPOWER Conference & Exhibition | May 6-9, 2024 | Minneapolis Convention Center | Minneapolis, MN
- WindEnergy Hamburg Event | September 24-27, 2024 | Hamburg Exhibition Centre | Hamburg, Germany
About Richardson Electronics, Ltd.
Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, power grid and microwave tubes, and related consumables; power conversion and RF and microwave components, including green energy solutions; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. More than
Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.
About Richardson Electronics – Green Energy Solutions
Richardson Electronics Green Energy Solutions combines our key technology partners and engineered solutions capabilities to design and manufacture key products for the fast-growing energy storage market and power management applications. As a designer, manufacturer, technology partner, and authorized distributor, GES's strategy is to provide specialized technical expertise and engineered solutions using our core design engineering and manufacturing capabilities on a global basis. We provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair—all through our existing global infrastructure. GES focuses on products for numerous green energy applications such as wind, solar, hydrogen, and electric vehicles and other power management applications that support green solutions such as synthetic diamond manufacturing. For more information, visit us at https://www.rell.com/greenenergysolutions/.
About Richardson Electronics – Power & Microwave Technologies
For over 75 years, Richardson Electronics has been your industry-leading global provider of engineered solutions, RF & microwave, and power products. The Power & Microwave Technologies group continues this legacy and complements it with new products from the world's most innovative technology partners. Richardson Electronics' Power & Microwave Technologies group focuses on what we do best: identify and design disruptive technologies, introduce new products on a global basis, develop solutions for our customers, and provide exceptional worldwide support. As a global company, we provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair—all through our existing global infrastructure. More information is available at rellpower.com | relltubes.com | rellaser.com.
About The Suzlon Group
The Suzlon Group is one of the leading renewable energy solutions providers in the world with ~20.5 GW* of wind energy capacity installed across 17 countries. Headquartered at Suzlon One Earth in Pune, India; the Group comprises of Suzlon Energy Limited (NSE: SUZLON & BSE: 532667) and its subsidiaries. A vertically integrated organisation, with in-house research and development (R&D) centres in Germany, the Netherlands, Denmark and India, Suzlon's world-class manufacturing facilities are spread across multiple locations in India. With over 28 years of operational track record, the Group has a diverse workforce of over 6,300 employees. Suzlon is also India's No. 1 wind energy service company with the largest service portfolio of over 14.5 GW in wind energy assets. The Group has ~6 GW of installed capacity outside India. Suzlon offers a comprehensive product portfolio led by the 2 MW and 3 MW series of wind turbines.
*Global installations of Suzlon manufactured wind turbine generators. Data as on 31st December 2023
Suzlon corporate website: www.suzlon.com
For Details Contact:
Greg Peloquin
Executive Vice President & GM
Power & Microwave Technologies and Green Energy Solutions
Phone: (630) 659-8900
peloquin@rell.com
40W267 Keslinger Road
LaFox, IL 60147-0393 USA
(630) 208-2200 | Fax: (630) 208-2550
FAQ
<p>What is the partnership announced by Richardson Electronics, ?</p>
RICHARDSON ELECTRONICS, announced a partnership with Suzlon Energy to provide pitch energy modules for wind turbines.
<p>What does Richardson Electronics specialize in regarding wind turbine technology?</p>
Richardson Electronics specializes in PEM design and manufacturing for wind turbine solutions.
<p>How many wind turbines does Suzlon Energy have worldwide?</p>
Suzlon Energy has over 12,000 wind turbines worldwide, with over 9,000 in India.
<p>What is the upcoming event where Richardson Electronics will showcase their technology?</p>
Richardson Electronics will showcase their technology at the CLEANPOWER Conference & Exhibition in Minneapolis and WindEnergy Hamburg Event in Hamburg, Germany.
