Timken Honored with Prestigious R&D 100 Award for Innovative Wind Turbine Solution

Rhea-AI Summary

The Timken Company (NYSE: TKR) has been named a 2021 R&D 100 Award winner by R&D World magazine for its innovative split tapered roller bearing designed for wind turbine main shafts.

This accolade highlights Timken's commitment to enhancing renewable energy efficiency, with renewable energy comprising 12% of total sales in 2020, marking it as the company's largest end-market sector.

With over a century of expertise, Timken continues to excel in engineered bearings and power transmission products, having achieved $3.5 billion in sales in 2020.

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• Awarded 2021 R&D 100 Award for split tapered roller bearing in wind turbines.
• Renewable energy sector represents 12% of total sales, indicating strong market position.
• Significant investment in R&D enhances Timken's competitive edge.

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• None.

NORTH CANTON, Ohio, Nov. 18, 2021 /PRNewswire/ -- The Timken Company (NYSE: TKR), a global industrial leader in engineered bearings and power transmission products, has been named a 2021 R&D 100 Award winner by R&D World magazine. The publication honored Timken in the Mechanical/Materials category for its work developing a split tapered roller bearing for the main shaft of wind turbines. The R&D 100 is the only industry-wide competition rewarding the practical applications of science.

"We're thrilled to be honored by R&D World for our specialized engineering expertise," said Ryan Evans, Timken director of research and development. "We applied our innovative problem-solving capabilities to address this challenging application. Our associates, our engineering knowhow and our products and services are critical for increasing the efficiency of renewable energy."

Timken has invested heavily in research and development and has built strong manufacturing, engineering and testing capabilities to reinforce its leadership position in renewable energy. In 2020, renewable energy, which consists of both wind and solar, became Timken's single-largest end-market sector, representing 12 percent of total company sales.

The R&D 100 is widely considered one of the most prestigious innovation award programs throughout the world, and recognizes the most promising new products, processes, materials or software. Now in its 59th year, the R&D 100 includes a judging panel of respected industry professionals across the globe, and awards new inventions on the basis of technical significance, uniqueness and usefulness. A complete list of winners is available at R&D World.

About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) designs a growing portfolio of engineered bearings and power transmission products. With more than a century of knowledge and innovation, we continuously improve the reliability and efficiency of global machinery and equipment to move the world forward. Timken posted $3.5 billion in sales in 2020 and employs more than 17,000 people globally, operating from 42 countries. Timken is recognized among America's Most Responsible Companies by Newsweek, the World's Most Ethical Companies® by Ethisphere, and America's Best Employers, Best Employers for New Graduates and Best Employers for Women by Forbes.

Media Relations:
Scott Schroeder
234.262.6420
mediarelations@timken.com

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SOURCE The Timken Company

FAQ

What award did The Timken Company receive in 2021?

The Timken Company received the 2021 R&D 100 Award for its split tapered roller bearing for wind turbines.

What percentage of Timken's sales came from renewable energy in 2020?

In 2020, renewable energy accounted for 12% of Timken's total sales.

What is the significance of the R&D 100 Award for Timken?

The R&D 100 Award recognizes practical applications of science, highlighting Timken's innovations in renewable energy.

How much did The Timken Company report in sales for 2020?

Timken reported $3.5 billion in sales for the year 2020.

Where is The Timken Company headquartered?

The Timken Company is headquartered in North Canton, Ohio.