Category Archives: Engineering
Returns On Capital At Spirax-Sarco Engineering (LON:SPX) Have Hit The Brakes – Yahoo Finance
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out for. One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. That's why when we briefly looked at Spirax-Sarco Engineering's (LON:SPX) ROCE trend, we were pretty happy with what we saw.
For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. To calculate this metric for Spirax-Sarco Engineering, this is the formula:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) (Total Assets - Current Liabilities)
0.16 = UK340m (UK2.7b - UK586m) (Based on the trailing twelve months to June 2023).
So, Spirax-Sarco Engineering has an ROCE of 16%. In absolute terms, that's a pretty normal return, and it's somewhat close to the Machinery industry average of 14%.
Check out our latest analysis for Spirax-Sarco Engineering
LSE:SPX Return on Capital Employed December 19th 2023
Above you can see how the current ROCE for Spirax-Sarco Engineering compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free report for Spirax-Sarco Engineering.
While the returns on capital are good, they haven't moved much. The company has employed 63% more capital in the last five years, and the returns on that capital have remained stable at 16%. Since 16% is a moderate ROCE though, it's good to see a business can continue to reinvest at these decent rates of return. Stable returns in this ballpark can be unexciting, but if they can be maintained over the long run, they often provide nice rewards to shareholders.
Story continues
To sum it up, Spirax-Sarco Engineering has simply been reinvesting capital steadily, at those decent rates of return. Therefore it's no surprise that shareholders have earned a respectable 77% return if they held over the last five years. So while the positive underlying trends may be accounted for by investors, we still think this stock is worth looking into further.
One more thing, we've spotted 1 warning sign facing Spirax-Sarco Engineering that you might find interesting.
If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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Returns On Capital At Spirax-Sarco Engineering (LON:SPX) Have Hit The Brakes - Yahoo Finance
ThroughPut.ai launches New AI-powered, Self-serve Data Mapping, Engineering and Transformation Capabilities to … – StreetInsider.com
The integration will offer automated data mapping capabilities, eliminate data silos as well as tech stack complexity, and empower businesses with first-of-their kind rapid self-serve capabilities to derive supply chain insights and recommendations
PALO ALTO, Calif., Dec. 19, 2023 /PRNewswire/ --ThroughPut Inc., the industrial AI Supply Chain Decision Intelligence pioneer today announced a strategic integration with Tray.io, the creator of an AI-powered, multi-experience iPaaS, to offer businesses self-serve capabilities that enable them to seamlessly connect and map existing datasets to drive quicker time-to-value for supply chain initiatives. This will enable businesses and existing customers of ThroughPut.ai and Tray.io with faster transaction processing for timely insights that improve free cash flow and operational efficiencies.
Today's businesses run on increasingly complex tech stacks, which require a unified, simple integration and automation solution without which it becomes a daunting challenge to achieve holistic supply chain visibility and actionability. This partnership offers enterprises the opportunity to effortlessly connect disparate, complex systems and processes, thus breaking down silos to rapidly monetize supply chain data across their value stream.
With these new capabilities, organizations will now be able to more easily leverage data from multiple enterprise resource planning (ERP) systems and other data sources including third-party sources much more rapidly on a single, fully integrated platform for a broad suite of use cases ranging from improving inventory management, logistics, fulfillment, and supply chain cost optimization.
"Leveraging Tray.io was a strategic decision to help focus ThroughPut.AI's core engineering efforts on functionality aimed at leveraging domain expertise in Supply Chain Operations and AI, while still having a streamlined process available to build and stand-up new integrations to our customers' diverse source systems. Additionally, Tray.io's embedded functionality allows us to offer our end-users an elegant self-serve mechanism to connect and map datasets in a streamlined manner, enabling our supply chain decision intelligence offering as a SaaS model as well," said Alla Anashenkova, VP of Product and Sales Engineering, ThroughPut Inc.
"AI is fully transforming how companies do business, and integrations and automation are at the center of that," said AlexKohlhofer, Sr. Director, Head of Product Management at Tray.io. "With Tray.io and ThroughPut's powerfully integrated, comprehensive suite of APIs and capabilities, businesses can now rethink supply chain data engineering complexity with unmatched ease and true self-serve capabilities in a way that was not possible until now," he added.
ThroughPut.AI empowers leading businesses across the globe to drive continued growth in increasingly volatile market conditions by minimizing demand and supply variance via AI-powered supply chain visibility and actionability to help businesses balance their operations by effectively managing demand, capacity, working capital, and customer experience setting the base for more robust and sustained growth.
PR Contact:
Tina Jacobs[emailprotected]
About ThroughPut IncThroughPut.ai is a Silicon Valley-based Supply Chain AI-powered Decision Intelligence leader that puts Industrial material flow on Autopilot by leveraging existing Enterprise Data to achieve superior Business, Operations, Financial and Sustainability Results. ThroughPut's AI-powered Supply Chain software predicts Demand, reorients Production Capacity, reassigns Warehouse Space, and reorders materials optimally, so businesses minimize overpromising and under-delivering, and maximize for their desired outcomes. ThroughPut improves material flow and free-cash-flow across the entire end-to-end value chain far faster than leading contemporary and legacy solutions. The founding team is led by seasoned serial entrepreneurs with real-world AI, Supply Chain, Manufacturing, Transportation and Operational experience, from the shop-floor to the top-floor, at leading Fortune 500 Industrial Companies & pioneering Enterprise Technology companies.
To learn more about ThroughPut Inc, visit http://www.throughput.ai
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WBK Engineering in St. Charles celebrates 25 years of service and recent Disadvantaged Business Enterprise … – Daily Herald
St. Charles Riverwalk(Courtesy of Bodw Professional Services)
For 25 years, WBK Engineering, a Bodw Professional Services company, and recently certified Disadvantaged Business Enterprise (DBE) headquartered in St. Charles, has been more than a civil engineering firm to the communities in the Fox River Valley and the Chicago region. Founded in 1998, the company has grown to become a trusted partner in providing innovative, sustainable solutions to clients in the public and private sectors.
In 1998, Kane County was really taking off with both development and government initiatives, Charles Hanlon, one of WBKs founding members and current vice president of operations, said. We saw the opportunity to locate our new business in Kane County to really capture that upcoming work.
Establishing the firm in St. Charles was a strategic move to compete for work in Kane County, the Chicago area and all of northeast Illinois.
One of the first milestone projects was providing technical assistance in writing the first Kane County Stormwater Management Ordinance. The firms portfolio began growing to include clients such as City of Elgin, Village of West Dundee, City of Geneva, Carol Stream Park District, DuPage County Stormwater Management.
WBK Engineering has become an extension of the citys Public Works Department, said Aaron Neal, City of Elgins public works director.
Ive held various titles throughout my time and through all forms of my career WBK has been around and a part of Elgin, Neal said. They have always been a right-hand firm for me, and now in my time as director of public works, WBK still stands the test of time as a valued partner for the City of Elgin.
Over the years WBK continued to grow, expanding its services, and embracing new opportunities. In 2009, the firm acquired another St. Charles civil engineering company that worked in the municipal and transportation markets, including with the Illinois Department of Transportation (IDOT).
At a time when many firms were forced to change their company structure or close their doors, WBKs success during this time can be attributed to the companys commitment to expanding market opportunities and professional growth for employees.
WBKs commitment to employees and families is what attracted Scott Randall to the company. Randall, a water resources expert and current practice manager who has worked at WBK for nearly 20 years, said the companys commitment to work-life balance was ahead of its time, with the firm adopting flexible work schedules as early as 2004.
I know many people in our industry who feel guilty when they have to stay home, or something comes up and theyre scrambling to figure out how things are going to work, Randall said. It has never felt that way at WBK. Weve always been welcoming, understanding, and respectful of each other as professionals and as people.
The way the people at WBK support and take care of each other extends to their client base. Their ability to maintain long-standing client relationships is a testament to their quality of work as well as their ability to listen and work collaboratively to create long-lasting solutions.
Jamie Lock, chief stormwater engineer for DuPage County Stormwater Management, remembers a recent project WBK was involved in that reflects the companys aptitude for facing problems head on.
We recently had a project at our largest flood control facility in Elmhurst, Illinois that included replacing a completely submerged wet well that housed two large stormwater pumps, Lock said. When we got in there for the first time since its initial construction, we realized we needed to make some field changes. It was a unique circumstance where other (professionals) were reluctant to provide their expert opinion, but WBK staff didnt hesitate to dive into the challenge.
In 2016, WBK saw opportunities to develop a partnership with Mno-Bmadsen, the nongaming investment enterprise and a wholly owned instrumentality of the Pokagon Band of Potawatomi, to became one of the only tribally owned civil engineering firms based in Illinois. This partnership aligned environmental stewardship values and goals to expand beyond northeast Illinois boundaries.
Mno-Bmadsen, acquired 100% interest in WBK Engineering in 2019 and WBK continued to expand its portfolio including in the federal and Indigenous market sectors. WBK worked diligently to become certified 8(a) by the Federal Small Business Association as well as Disadvantaged Business Enterprise (DBE) certification to leverage tribal sovereignty. WBK received 8(a) certification in 2017 and DBE certification by the state of Illinois in May 2023. Today, WBK is part of the Bodw Professional Services Group of Mno-Bmadsen, offering services in architecture and engineering as well as contract support services for federal agencies.
Looking ahead, WBK Transportation Practice Manager Yemi Oyewole says DBE certification increases the firms visibility as a qualified and attractive subconsultant to prime contractors needing to satisfy contract requirements. Coming to WBK after 17 years at the Illinois Department of Transportation (IDOT) and 10 years at URS Corporation, Oyewole has been able to connect his network of prime partners with the team at WBK.
Theres so much work right now but very few quality engineers, Oyewole said. I believe our tribal ownership and DBE certification provide access to a broader range of potential projects and markets, while our quality of work and exceptional service makes us competitive as a trusted engineering firm.
As WBK celebrates its 25th anniversary, the company looks forward to a future marked by continued growth, innovation and community impact. DBE certification opens up new avenues for collaboration and reinforces WBKs commitment to diversity and equal opportunities in the engineering sector. With a quarter-century of success, WBK Engineering is set to embark on the next chapter of its journey with a steadfast commitment to delivering exceptional services and leaving a lasting impact on the communities and clients the company serves.
ABOUT WBK ENGINEERING
WBK Engineering is a team of civil, transportation, and structural engineers, infrastructure specialists, land planners and urban designers, water and environmental scientists, and ecologists. The firm is a Tribally Owned, 8(a), Disadvantaged Business Enterprise (DBE), Indian Small Business Economic Enterprise (ISBEE) company, offering sustainable solutions to complex design, engineering, restoration, and maintenance challenges. WBK is part of the Bodw Professional Services Group of Mno-Bmadsen, the investment enterprise and a wholly owned instrumentality of the Pokagon Band of Potawatomi. WBK has been providing civil and transportation engineering services and related environmental consulting to public and private sector clients for more than 25 years. Learn more at http://www.wbkengineering.com
ABOUT BODW PROFESSIONAL SERVICES GROUP
Bodw is the Professional Services Group of Mno-Bmadsen, the nongaming investment enterprise and a wholly owned instrumentality of the Pokagon Band of Potawatomi. Bodw Group is comprised of Seven Generations Architecture + Engineering, WBK Engineering, The Steelhead Engineering Company, Blue Star Integrative Studio, Bodw Technology Solutions and Bodw Federal Services. Bodw teams provide architecture, interior design, master planning, environmental consulting, and structural, civil, and MEP engineering design, as well as staffing services. We partner with Indigenous, health care, federal and municipal government, community, and private clients across the country. Learn more at http://www.bodwegroup.com
ABOUT MNO-BMADSEN
Mno-Bmadsen is a wholly owned instrumentality of the Pokagon Band of Potawatomi, launched in 2012 and independently managed with the mandate to diversify the Tribes business interests, revenue streams, and wealth for future generations. The Mno-Bmadsen Family of Companies is comprised of four actively managed investment portfolios, including Bodw Professional Services Group, D.A. Dodd Construction Services Group, Mno-DREK Manufacturing Services Group, and Red Tail Properties Commercial Real Estate Services. Learn more at http://www.mno-bmadsen.com
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Decoding the Global Engineering Landscape: Challenges and Opportunities – CXOToday.com
In this context, Mr. Ed Almond, Chief Executive and Secretary, The Institution of Engineering and Technology (Global) , sheds light on the challenges and opportunities in the global engineering landscape:
1) It has been widely recognised that the technology sector has been witnessing exceptional growth over the past year. What are some factors contributing to these tailwinds?
I think the primary reason behind the exceptional growth of the technology sector is the ongoing Artificial Intelligence-led digital transformation, that has accelerated the global demand for automation, IoT, and digital twins. Consequently, traditional industries like Manufacturing and Production, as well as Infrastructure and Transport have started investing significantly in AI. India is among the top 10 countries globally in technological advancements and funding for AI, with a projected 20% growth in the AI market over the next five years.
With the current global economic instability, companies are facing product shortages, supply chain issues and increased product costs. To mitigate this, companies will have to diversify their suppliers, which could lead to further growth.
Tech companies are also improving the efficiencies of systems that are at an infant stage of digital transformation. Healthcare is a prime example of this amalgamation. The global digital health market is estimated atUS$211 billion in 2022 and is projected to reach US$1.5 trillion by 2030.
2) What differences do you see between the engineering ecosystem in the UK and India? How does India compare to global technology adoption and innovation?
The engineering ecosystems in the UK and India reflect the diverse economic, educational, and industrial landscapes in each country.
In the UK, we have a well-established engineering ecosystem, thanks to our developed economy and advanced infrastructure industries like energy, transport, healthcare, and information technology / digital.
Indias aim to achieve a $ 5 trillion economy by 2025 is also technology-supported. Industry 4.0 is projected to reachUSD 4 trillion by 2020, driving technological evolution through blockchain, quantum computing, drone utilisation, and big data.
In the UK, theres a substantial investment in R&D for innovation, leading to groundbreaking discoveries and cutting-edge technologies.
During my recent visit to India, I made some interesting observations regarding innovation in software and technology. The large-scale digital payment revolution, with the Unified Payments Interface ( UPI), forms the backbone of Indias digital ecosystem. Digital transactions in India last year valued far more than the US, Britain, Germany, and France. India has also built the second-largest 5G ecosystem with three lakh sites across 714 districts. The country is also preparing to lead the 6G revolution.
Government initiatives like Make in India and Digital India promote innovation across industries.
In essence, the engineering ecosystems in the UK and India offer distinct strengths and challenges, each contributing to the global landscape in its own way.
3) Currently, one of the biggest challenges faced by the technology industry is an industry-academia skills gap. How can this be bridged?
We need to create stronger partnerships between tech companies and educational institutions to address this gap.A key challenge Ive observed in the Indian education ecosystem, despite the excellence in the university curriculum, is the gap to be filled concerning solving real-world challenges. Here, the professional certifications provided by the IET can help. Students can learn how to apply complex concepts liketheModel-Based Systems Engineering (MBSE) approach to solve day-to-day problems and become experienced professionals.
Establishing mechanisms for regular feedback from industry professionals to academia can help update academic programs according to the latest industry trends, making graduates more job-ready. We should also provide professional development opportunities for educators through workshops, seminars, and industry immersion programs.IET India is also conducting a Skills Gap survey to understand the emerging gap in skills needs related to engineering and technology in the current context of industrial growth. The study is expected to throw light on skills that are likely to emerge over the next 3-4 years in India.
Fostering collaboration, updating curricula, providing professional development, and creating pathways for practical experience can help us bridge this industry-academia gap.
4) How sustainable is the technology industry currently? What improvements can be made, and what are some ways in which technology can aid the global movement for carbon neutrality?
The tech industry is treading the path of sustainability. There are certain trends like Design for sustainability, where companies embed sustainability from the design stage of a product. I was reading about Bharat Forge, a prominent manufacturer of machinery and auto components, which is adopting practices to reduce the weight of automotive components by optimizing designs, characterizing material properties, incorporating a broader range of manufacturing processes, and using computer-aided engineering (CAE) techniques.
However, to attain complete sustainability, the industry must involve multiple stakeholders, including consumers, government officials, environmental advocates, and local communities to build a more comprehensive ecosystem and move towards a circular economy. Its also important to include Equality, Diversity and Inclusion (EDI) to increase innovation and competitiveness, improve stakeholder engagement, and create market opportunities.
A notable concern is the substantial energy consumption by data centres and electronic device manufacturing. Although there are initiatives to transition toward renewable energy sources, the process remains in a developmental stage.
Electronic waste management is another challenge. Fostering the design of energy-efficient products with prolonged lifecycles can significantly diminish electronic waste. While eco-friendly disposal and recycling practices for end-of-life electronic devices demand careful consideration. Addressing these challenges requires strategic improvements.
5) The IET has a global community of engineers and technologists. How do you plan to engage and collaborate with this diverse community to promoteengineering excellence and social impact?
AttheIET,we inspire, inform, and influence academia, industry, and government to address significant societal challenges at an international level.
Every year, we give out the IET India Scholarship Award of up to 10 lakh rupees to a student from all AICTE-approved undergraduate engineering programmes. 1st, 2nd, 3rd and 4th year students from all over India get an opportunity to showcase their innovation, and network with industry leaders and one of them wins the scholarship.
Additionally, our yearly IET India Awards facilitate engineering and technology changemakers in the Indian ecosystem. In 2023, we conducted a successful third edition of the Awards and announced winners from our Young Woman Engineer of the Year Award, Mobility Award, Youth Engineering Icon, Volunteering Award, Engineering the Future of Work Award, and IET India Future Tech Award categories. We also recognised the unparalleled contributions of Mr. Kris Gopalakrishnan, Co-Founder of Infosys in the field of tech with the IET India Lifetime Achievement Award.
Other than awards, the IET Future Tech Panel comprising over 120 volunteers, works to disseminate knowledge about future technologies and create roadmaps for their adoption. The panel has organised four successful editions of the IoT India Congress with over 5,000 global attendees. In 2024, the panel will host the Future Tech Conference to decode augmented intelligence, quantum, nanotech, and future factories.
We also have geo-specific local networks across the world that enable collaboration among the IET members and volunteers from the same local area. These networks conduct multiple tech-centred events like lectures, seminars, and conferences. IET India alone proudly boasts eight local networks responsible for hosting 300+ Events across India.
6) How can membership in professional bodies like the IET help engineers both in terms of personal growth and in contributing to national development?
Engineers are ingenious problem solvers with the right skills to tackle societal challenges of national importance.
Belonging to a reputable professional body like the IET provides a platform for continuous learning and skill development at every stage of an individuals career. Students and fresh graduates get access to a huge knowledge base through virtual libraries containing various books, journals, papers, articles, and magazines. As well as that, they have access to unparalleled global support networks with professionals, mentors, and industry leaders, who can provide career-related advice before the students step into the real world. The IETs scholarship programs also encourage innovation among young engineers.Being a member of the IET provides exceptional exposure to a wealth of resources, including seminars, workshops, and publications that keep them abreast of the latest advancements in their field.
Networking is another valuable aspect. Professional bodies facilitate connections with fellow engineers, industry leaders, and experts. Engaging in such networks not only broadens ones perspective but also opens opportunities for mentorship, collaboration, and career advancement. The exchange of ideas and experiences within these communities can inspire personal growth and career progression.
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Decoding the Global Engineering Landscape: Challenges and Opportunities - CXOToday.com
Azad Engineering IPO: Price band, GMP, review, among 10 things to know as issue opens today | Mint – Mint
Azad Engineering IPO: Aerospace components and turbines manufacturer Azad Engineering is set to launch its initial public offering (IPO) today, December 20. The company plans to raise 740 crore from the public issue that will conclude on December 22.
Headquartered in Hyderabad, Telangana, Azad Engineering supplies its products to original equipment manufacturers (OEMs) in the aerospace, defense, energy, and oil and gas industries. Its products are highly engineered, complex, mission-critical, and vital.
Also Read: Inox India IPO allotment to be finalised today: Latest GMP, steps to check Inox allotment status
Here are 10 key things to know about Azad Engineering IPO:
1) Azad Engineering IPO Dates: Azad Engineering IPO opens for subscription on December 20 and will close on December 22, 2023. The IPO allotment is expected to be finalized on December 26.
2) Azad Engineering IPO Details: Azad Engineering IPO issue size is 740.00 crore. The issue is a combination of fresh issue of 46 lakh equity shares aggregating to 240 crore and offer for sale (OFS) of 95 lakh shares aggregating to 500 crore.
3) Azad Engineering IPO Price Band: Azad Engineering IPO price band has been set at 499 to 524 per share.
(Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!)
4) Azad Engineering IPO Lot Size: Azad Engineering IPO lot size is 28 shares and the minimum investment amount required by retail investors is 14,672.
5) Azad Engineering IPO Listing: Azad Engineering IPO will list on both the stock exchanges - BSE and NSE - with a tentative listing date fixed on December 28.
6) Azad Engineering IPO Objectives: The company proposes to utilise the net proceeds of the fresh issue for funding capital expenditure, repayment or prepayment of certain of the borrowings and general corporate purposes.
7) Azad Engineering IPO Reservations: The company has reserved 50% of shares in the IPO for Qualified Institutional Buyers (QIB), 35% for Retail Investors, while remaining 15% of shares has been reserved for Non-Institutional Investors (NII).
Also Read: Azad Engineering raises 221 crore from anchor investors ahead of IPO
8) Azad Engineering IPO Lead Managers, Registrar: Axis Capital, ICICI Securities, SBI Capital Markets and Anand Rathi Securities are the book running lead managers of the Azad Engineering IPO, while Kfin Technologies is the IPO registrar.
9) Azad Engineering IPO GMP: Azad Engineering IPO GMP today, or grey market premium today, is 440 per share, as per market observers. This indicates that the Azad Engineering shares are trading at a premium of 83.97% to the issue price at 964 apiece in the grey market.
10) Azad Engineering IPO Review: Azad Engineering is a niche player in its segment and enjoys virtual monopoly. The company reported steady growth in its revenue for the reported periods. Based on FY24 annualized earnings, Azad Engineering IPO issue appears fully priced. Considering the bright prospects of the company investors can subscribe to the issue for a medium to long-term, analysts said.
Read all IPO-related news here
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Engineering Hero: The Bionic Limbs of the Future Are Here – Embedded Computing Design
December 20, 2023
In this eighth installment of Engineering Heroes, we'd like to introduce you to Albert Manero, co-founder of Limbitless Solutions, a non-profit based at the University of Central Florida.
How does one make the journey from degrees in aerospace and mechanical engineering to building bionic prosthetic limbs? For Albert Manero, it was as simple as turning on the radio one morning. Now, he and his colleague John Sparkman run a research program at the University of Central Florida that focuses on building bionic prosthetics for kids.
But you can hear from Manero and Sparkman themselves in the video above, and stay tuned for more Engineering Heroes content!
Editor's Note:For more Engineering Hero content, check out the links below.
Daire McNamara, Director and Firmware Engineer, Emdalo Technologies:
Nandini Kappiah,Senior Director of Software Engineering, Google:
Valentyn Hlukhotskyy,Senior Java Software Engineer, Euristiq:
Levi Zima, RF Microwave Engineer:
Samer Mabrouk, Postdoctoral Research Fellow, Georgia Institute of Technology:
Anton Ristrm, Department Manager, Aker Solutions:
Dr. Karisa Schreck,Assistant Professor of neurology, oncology, and neurosurgery & Co-Director ofBRAF Brain Tumor Center,Johns Hopkins:
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Engineering Hero: The Bionic Limbs of the Future Are Here - Embedded Computing Design
Elevating sustainability in the world of refining – Hydrocarbon Engineering
Refineries today must operate at unprecedented levels of sustainability and efficiency, driven by a dual commitment to commercial viability and environmental responsibility. This article will delve into the key initiatives that refiners can undertake to elevate their sustainability goals.
To begin, sustainability will be defined in the context of the refining industry. A successful refinery must surmount several challenges: producing clean products while minimising energy consumption, ensuring affordability for end-users, and maintaining stable income and margins. All of this must be viewed through the lens of environmental responsibility and emissions reduction.
Every existing facility must strike a balance between commercial competitiveness and environmental responsibility. They must also be willing to invest in adaptation to meet the evolving energy market landscape. Currently, transportation fuels, especially diesel, remain in high demand. Despite the disruption in global crude flows, the EU stands as a reliable buyer, importing finished fuel products from various sources and destinations. However, the market is currently facing fluctuations; long-term predictions indicate decreased demand for fossil liquid fuels.
Despite the EUs pledge to ban the sale of internal combustion engine cars by 2035, there will still be decades before the existing fleet is replaced. Consequently, production companies should focus their investments on refinery assets that can effectively adapt to the changing landscape of the energy transition and evolving technological requirements.
It is important to note that sustainability is often conflated with renewables, which is not entirely accurate. For example, in some scenarios, utilising lower-carbon fossil feedstocks can be more sustainable than relying on renewable sources which may have higher carbon intensity.
To successfully enhance energy efficiency and reduce carbon emissions in petroleum refining, adapting multipronged approaches is crucial. Fortunately, many energy efficiency projects rank among the most cost-effective investments for refineries. These projects not only boost productivity, but also contribute significantly to reducing their carbon footprint.
Heat transfer is a fundamental aspect of thermodynamics, playing a crucial role in refining processes. Industrial-sized heat exchangers are the workhorses responsible for this heat transfer within refineries. These robust units, however, often operate under severe conditions, facing a multitude of operational challenges over their lifespan. Fortunately, several strategies can be employed to enhance heat transfer efficiency and minimise energy losses.
This article was originally published in the December 2023 issue of Hydrocarbon Engineering magazine. To read the full article, sign in or register for a free subscription.
Written by Miro Cavkov, Euro Petroleum Consultants (EPC).
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Elevating sustainability in the world of refining - Hydrocarbon Engineering
Simulation Experts Give Career Advice – ENGINEERING.com
Last month, NAFEMS Women in Simulation Engineering Subcommittee gathered a panel of experts to ask them the question: How can engineers harness a diverse number of career opportunities in simulation. The panel, consisting of Marcelo Miknasi, Product Development and Engineering director at Whirlpool; Olivia Pinon-Fisher, principal research engineer-chief of the Digital Engineering Division at Aerospace Systems Design Laboratory; and Carmen Torres-Snchez, professor of Multifunctional Materials Manufacturing at Loughborough University, drew on their personal experiences to help future generations guide their career paths.
Marcelo Miknasi, Product Development and Engineering director at Whirlpool (left), Olivia Pinon-Fisher, principal research engineer-chief of the Digital Engineering Division at Aerospace Systems Design Laboratory (middle) and Carmen Torres-Snchez professor of Multifunctional Materials Manufacturing at Loughborough University (right). (Image: NAFEMS.)
Pinon-Fisher noted that simulation engineers have a clear advantage over others in the engineering field as a CAE background is important to many industries, from building design to chip design. As a result, there are a lot of opportunities for engineers to find something where they have funyoure spending 10 hours a day there.
She added that this would require simulation engineers to trust in the job search process and be picky about what they want to do. For instance, Pinon-Fisher suggested that simulation engineers find jobs where they can stay curious, be a lifelong learner, grow and benefit from cherished mentors and support networks. She also noted that its important to find those you can mentor, to take the torch and pass it onto others.
Miknasi agreed with the importance of finding good mentors. Part of the process is asking what you need a mentor for. Some people need help to understand what they want to learn. Its a relationship that has trust. Sometimes it doesnt last, they are your mentor for a year, and some may last a whole career. Find the best people to help you.
As for places to look for a good mentor, Pinon-Fisher suggested asking professors and professionals that frequent school and career mentorship programs. Conferences are a great venue to meet new people and mentors, she added. Technical committees are a good place [too].
Torres-Snchez is a proponent of exploring different career paths. She herself went from the business sector to academia and now runs a multidisciplinary team working on silicon analysis. She notes that life happens while youre making plans, so you will have to navigate the flows of the world, life and technology during your career.
As evidence, she pointed to the World Economic Forums 2017 notion that the half-life of a professional skill was only five years due to the unprecedented pace of tech advancements. This can be a negative if you want to stay in one place or do one thing. But for those looking to explore simulation jobs that dont even exist yet, this rate of change can be exciting.
To remain relevant in these changing times, Torres-Snchez recommended focusing on transferable skills instead of knowledge. She also noted the importance of a training log that can highlight the skills you have gained over time. Lessons she has learnt during her career that she thinks could help simulation engineers navigate the waves of life and technology include:
Perhaps most important of all, she said, is that simulation engineers must choose jobs, mentors, clients and projects wisely. Fight the temptation of saying yes, says Torres-Snchez. Let it cool off and think about the consequences of the decisions. Walk into it, eyes wide open. When youre younger, you say yes to everything as much as you can without realizing its saying no to other things See what youre excluding and including by saying yes.
Pinon-Fisher agreed there is a tendency to say yes and pushed back on it as well. [It] comes to a work-life balance, she said. Who is involved, what skills will you require and what pathways it can lead too? When you say yes, you have to deliver.
Miknasi outlined the importance of understanding the impact simulation engineers have on their organizations. Startup yourself, he said. Focus on learning and stepping out of your comfort zone.
For simulation engineers specifically, this might look like having an entrepreneurial mindset that aims to understand the whole business. After all, by better understanding the whole system, engineers are better able to simulate it.
A good place to start, he suggested, was to master the physics and theory in the domain your organization works in. Then move on to other practical tools like Six Sigma, leadership, communication, diversity and customer intelligence. As for which business concepts, and their associated software tools, to focus on first, Miknasi suggested MBSE, PLM, change management, virtual product development, machine learning and artificial intelligence.
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A pioneer in petroleum engineering: Mohamed Soliman’s legacy of innovation – EurekAlert
For nearly seven decades, hydraulic fracturing technology has been the cornerstone of economic production from low permeability formations, unlocking vast reserves of natural gas and oil. The success of this technology relies on the collaboration of experts from various disciplines, including rock and fluid mechanics, geoscience, completion engineering, reservoir engineering and production engineering. At the forefront of this multi-disciplinary approach is Mohamed Soliman, the distinguished William C. Miller Endowed Chairman of the Petroleum Engineering Department at the University of Houston's Cullen College of Engineering.
In recognition of his illustrious 50-plus year career, Soliman has recently been honored as a member of the inaugural class of Hart Energys Hall of Fame and Agents of Change in Energy (ACEs). This accolade, bestowed as part of Hart's 50th-anniversary celebration, pays tribute to Soliman's exceptional contributions to the field.
Earlier in the year, he was also named a "2023 Legend of Hydraulic Fracturing" at the Society of Petroleum Engineers' Hydraulic Fracturing Technology Conference and Exhibition. This distinction, shared by only 10 other researchers, is a testament to Soliman's expertise.
His journey includes a remarkable 32-year career at Halliburton, where he played a pivotal role as the chief reservoir engineer. He initiated work in fracturing horizontal wells and was the first to implement the consideration of stress interference to design multiple fractures in horizontal wells and developed multiple original approaches to analyze fracturing tests.
His involvement in the first fractured horizontal well in the late 1980s laid the foundation for groundbreaking research in drilling, logging, fracturing, and other procedures. The results of this experiment were later shared globally.
At the time many people thought that drilling horizontal wells would reduce or even eliminate the need for hydraulic fracturing, Soliman said. I thought the exact opposite. I wrote several papers between 1988 and 1990s explaining why fracturing horizontal wells is important.
He entered academia in 2011, starting at Texas Tech, and then joined the UH Cullen College of Engineering as the first Petroleum Engineering Department chairman in 2016.
Soliman earned his doctorate in petroleum engineering from Stanford University in 1979. He has authored or co-authored more than 250 papers, two books and holds almost 40 patents, many of them in hydraulic fracturing.
Reflecting on his success, Soliman emphasized the importance of blending an academia-focused approach with industry-oriented insights.
I always tried to marry what I learned from my own and others field experience with theory and research work, he said. That's what I always used in research and teaching, as well as in supervising students doing research.
Soliman's impact extends beyond accolades and recognition. He continues to push research boundaries and inspire a new generation of engineers. He and his research team are currently focused on three key areas that promise to further revolutionize the oil and gas industry: waterless fracturing, the use of Wavelet transform for test analysis, and addressing completion issues in the production of soft formations to expand the possibilities of oil and gas extraction.
The work that my group is currently doing has a positive impact on the environment, he said. For example, waterless fracturing promises to have a similar impact on the production of wells without the use of the huge amount of water that hydraulic fracturing requires. This has the potential to significantly reduce the environmental impact of well operations.
While its tricky to balance research, teaching and leading a department, Soliman considers working with students is what keeps him going. I have fantastic students that are producing great work, he said. We try to be directive for academic production, building new technology that can be used in the industry, not just in academia.
In an exclusive Q&A, Soliman shares insights and principles guiding his career and life:
What is your philosophy or rule of thumb for your life?
MS: Whatever I do has to be moral and ethical. And I put 100% into my work. I work because I enjoy my work more than money, promotions, etc., I value the sense of accomplishment and self-fulfillment.
How did you get interested in science and/or in your particular field?
MS: I always follow my interests. For example, I liked math and science and learned addition and subtraction before going to school. It was just natural and interesting to me. I found bringing oil from the underground strata so intriguing that I decided to study it.
What is one thing that people would be surprised to learn about you?
MS: I am an avid reader of comic books, history books, and science fiction.
Who is your favorite scientist/engineer?
MS: Late Professor Ramey of Stanford University is my favorite scientist. An innovator, Ramey made fundamental contributions to several areas of petroleum engineering such as development of thermal oil recovery methods and contributions to pressure-transient well testing. He was a great professor who genuinely cared about his students.
What keeps you inspired about your work?
MS: My main motivation is developing innovative technologies for industry use and contributing to the advancement of practical technologies stemming from theoretical research.
If you could tell aspiring engineers and scientists one thing, what would it be?
MS: Learning is a lifelong goal. This has always been true, and especially true now. One cannot depend on what one learns in college to carry her/him through life. College only provides a foundation for future and continuous lifelong learning.
Disclaimer: AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert system.
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A pioneer in petroleum engineering: Mohamed Soliman's legacy of innovation - EurekAlert
The Prner Group Streamlines Projects with Hexagons Integrated Solutions – Digital Engineering 24/7
Company: Prner Group
Description: The Prner Group is an independent European company for process plant engineering, founded 1972 with headquarters in Vienna, Austria. As a complete plant engineering provider, the Prner Group offers the full range of engineering services: from project studies and authority engineering to process engineering, basic and detail engineering as well as procurement to construction management and commissioning of the plant.
Employees: 550+ Industry: Plant EngineeringCountry: Headquarter in AustriaProducts used: Intergraph Smart 3D, Intergraph Smart P&ID, Basic Integrator
The Prner Group is one of Central Europes leading independent engineering company for process plant engineering. With 50 years of experience in the process industry, the company offers a full range of engineering services for refineries, petrochemical, chemical and pharmaceutical as well as energy and environmental industries.
Prner works mainly on greenfield projects as well as on construction projects to revamp plants. Its most important objective was to create an optimized workflow from the beginning of the project until the end to enable a truly iterative engineering design environment. The company needed:
Also, Prner wanted to have automatic data synchronization via the interfaces between the software packages.
The company has been a Hexagon partner for many years, always looking for optimizations that enable integrated working. The software must be able to seamlessly transfer data to and from Hexagons design tools, as well as third-party systems, while providing a user-friendly interface that is suitable for both engineers and administrators.
Prner is a global engineering firm with projects across the world.The time span in which projects have to be completed is continuously decreasing, yet Prners customers do not want to make compromises on the quality of the service. As a result, it was looking for a way to improve its project throughout time the time between starting and completing a project and at the same time enhancing the quality.
In addition, projects are becoming increasingly large and complex, which means that different Prner locations have to work together on projects. Prner is looking for optimization potential of its system-independent CAD landscape, which supports meeting the business-critical project requirements and enables it to integrate data from different sources to eliminate data silos and use the data as input for other systems.
Prner decided to continue on its path of Anlagenbau 4.0 as an independent engineering company and expanded integrated digital workflows. The company is always looking for the best solution for planning and designing process plants that would allow it to handle about 500 projects per year and it has to be usable internationally.
After careful consideration, Prner decided to optimize Hexagons existing Intergraph Smart 3D and Intergraph Smart P&ID software packages with integrated solutions for process plant engineering and design solutions and linked it to using the basic integrator. The solutions were selected for the following reasons:
The aim was to optimize the integrated working environment to improve the turnaround time for various customer projects. The implementation of Basic Integrator was achieved with internal know-how and support from Hexagon.
Prners long-standing and successful use of Hexagons design solutions speaks volumes about the reliability and efficiency of these tools. With a solid track record and confidence in the solutions, Prner is committed to maintaining its partnership with Hexagon well into the future.
Moreover, its forward-thinking approach extends beyond mere adoption as it actively seeks to enhance the workflows by seamlessly integrating Hexagons solutions with its existing toolset. This strategic focus on optimizing tool interfaces demonstrates Prners dedication to maximizing efficiency and unlocking the full potential of its design processes.
Thomas Hermann, Head of Department Layout & Piping Engineering / CAD Coordinator - Prner Group:
We have this concept called Anlagenbau 4.0. In this program, we want to optimize our digital workflows from the beginning until the end of the project. We use Hexagon as our main partner because of years of good cooperation and the commitments made by Hexagon for the future.
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The Prner Group Streamlines Projects with Hexagons Integrated Solutions - Digital Engineering 24/7