Press Release
TEPCO and Curtiss-Wright Form Strategic Alliance to Boost Efficiency of Thermal Power Plants
Feb 7, 2018
Deal includes exclusive sale rights in Asia, Mid-East for software used to manage plant efficiency
TOKYO, Feb. 7 - Tokyo Electric Power Company Holdings, Inc. and Curtiss-Wright Corporation have created a strategic alliance designed to boost the efficiency of thermal power plants, an important element in the fight against climate change.
As part of the alliance, TEPCO will supply Curtiss-Wright's industry-leading thermal performance optimization software to power plants in East Asia, Southeast Asia, South Asia, and the Middle East. The deal marks the first time that TEPCO has agreed to obtain exclusive sales rights for software to power plants. It is also the first time that Curtiss-Wright, a world leader in hardware and software for power plant management, has executed an exclusive sales agreement with an electric operator for its proprietary software.
The alliance extends to two Curtiss-Wright software products, known as PMAX and PEPSE, already in use in more than 500 locations worldwide. The two companies expect that TEPCO's expertise in power station management will add value for software licensees. In addition to acquiring a new revenue stream, TEPCO will be able to enhance the efficiency of thermal power stations across Asia, which is an important public policy goal.
Curtiss-Wright anticipates that TEPCO's strong Asian presence and power generation expertise will enhance its sales and marketing activities in Asia, as well as its ability to support electric companies as customers. By having Curtiss-Wright's software used at thermal power stations operated by the TEPCO Group, and having close interaction between engineers from both companies through intercompany human resource exchange programs, Curtiss-Wright will be able to improve the technical skill of TEPCO Group engineers and develop products and services that better meet the needs of electric operators in Asia.
Kurt Mitchell, Vice President and General Manager of Curtiss-Wright's Nuclear division said, "Curtiss-Wright views this partnership with TEPCO as a critical step towards optimizing thermal power generation performance in the Asia Pacific region by combining our industry leading software technology with TEPCO's world renowned operations excellence and vision for IoT implementation."
Shin-ichiro Kengaku, Managing Executive Officer and Chief of the Global Innovation & Investments at TEPCO, commented "We believe this new alliance with one of the world's foremost power plant management companies illustrates the commitment TEPCO has made to bringing innovation and fresh thinking to an evolving marketplace, while helping the environment at the same time."
About Curtiss-Wright Corp.
Curtiss-Wright Corporation (NYSE:CW) is a global innovative company that delivers highly engineered, critical function products and services to the commercial, industrial, defense and energy markets. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing reliable solutions through trusted customer relationships. The company employs approximately 8,000 people worldwide. For more information, visit www.curtisswright.com.
About TEPCO
Tokyo Electric Power Company Holdings, Inc. (TSE: 9501), headquartered in Tokyo, Japan, is the largest utility in Japan, serving millions of homes and businesses. Worldwide the company has more than 34 subsidiaries and 32 affiliates in eight countries and employs approximately 42,060 people. Consolidated revenue for the fiscal year ending March 31, 2017, totaled 5.3 trillion Japanese yen. The company was established in 1951 and is listed on the First Section of the Tokyo Stock Exchange. For more information, visit https://www7.tepco.co.jp/index-e.html
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