O-I Glass to Lower Emission With Linde's Innovative Technology

O-I Glass, Inc. OI announced that it collaborated with Linde plc LIN to install its proprietary OPTIMELTTM Thermochemical Regenerator (TCR) technology at OI’s container glass plant in Holzminden, Germany. This move will help O-I Glass in improving efficiency and reducing emissions.Details of OI-LIN CollaborationLinde has been providing technologies to glass manufacturers to boost energy efficiency for more than three decades. The company's patented OPTIMELTTM TCR technology, adopted globally by glass producers, harnesses waste heat from furnace flue gas to preheat and reform natural gas.The technology reduces fuel consumption in the melting process by approximately 30%. OPTIMELTTM TCR is adaptable to various fuels, including low-carbon hydrogen and hydrogen-natural gas blends.Building on their existing partnership, wherein LIN has been supplying oxygen to OI, the companies are now broadening their collaboration. Linde will provide innovative, cost-effective solutions to support O-I Glass in its efforts to reduce carbon emissions and achieve a more sustainable future.Under the collaboration, LIN will also install an advanced Centrifugal VITRON Vacuum Pressure Swing Adsorption plant at O-I Glass’ Holzminden plant to produce oxygen for the furnace. This will improve power efficiency, reduce noise emissions and lower the environmental footprint for O-I Glass.O-I Glass’ Benefits From the PartnershipThe collaboration with Linde is anticipated to decrease fuel consumption substantially and Scope 1 carbon dioxide emissions for OI. By partnering with innovators like Linde and leveraging its cutting-edge technologies, OI can achieve significant improvements in energy efficiency and reductions in fuel consumption. This initiative will not only support O-I Glass' objectives but also contribute to customers' decarbonization efforts.OI’s Q4 PerformanceO-I Glass reported a fourth-quarter 2024 adjusted loss per share of 5 cents, which beat the Zacks Consensus Estimate of a loss of 11 cents. The company posted earnings of 12 cents in the year-ago quarter. The downside was led by significant production curtailment due to sluggish demand.Revenues were $1.53 billion for the quarter under review, down 6.8% from the year-ago quarter due to lower average selling prices and unfavorable foreign currency translation. The top line missed the Zacks Consensus Estimate of $1.61 billion. Sales volume (in tons) was flat year over year.O-I Glass Stock’s Price PerformanceShares of the company have lost 23.6% over the past year compared with the industry’s fall of 21.8%. Image Source: Zacks Investment Research OI’ Zacks Rank & Stocks to ConsiderThe company currently carries a Zacks Rank #4 (Sell).Some better-ranked stocks from the Industrial Products sector are Applied Industrial Technologies, Inc. AIT and Enersys ENS. These companies have a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.Applied Industrial has an average trailing four-quarter earnings surprise of 5.3%. The Zacks Consensus Estimate for AIT’s 2025 earnings is pinned at $9.90 per share, which indicates year-over-year growth of 1.5%. The company’s shares have gained 15.8% in a year.The Zacks Consensus Estimate for Enersys’ fiscal 2025 earnings is pegged at $10.00 per share, which indicates year-over-year growth of 19.7%. The company has a trailing four-quarter average earnings surprise of 2.2%. ENS shares have gained 4.9% in a year.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report O-I Glass, Inc. (OI): Free Stock Analysis Report Applied Industrial Technologies, Inc. (AIT): Free Stock Analysis Report Enersys (ENS): Free Stock Analysis Report Linde PLC (LIN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks