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GE and Safran Unveil Engine for Future of Low-Carbon Flight.GE and Safran Unveil Engine for Future of Low-Carbon Flight.Root, Al.Barron's (Online); New York General Electric and its partner Safran are working together to develop low carbon-emission engines, designed for the fight against climate change, in an effort they called RISE, for "revolutionary innovation for sustainable engines." Revolutionary seems like the right word. An engine displayed virtually via a webcast doesn't look like what air travelers are used to. A typical commercial aircraft engine has a big fan, driven by a turbine, encased neatly in a conical shell and hung beneath the wing. The new engine dispenses with the shell. The fan, also called a rotor, is there for all to see, so the appearance can be a little jarring. General Electric (ticker: GE) and Safran (SAF.France) say the new engine might be placed at the back of a plane, or above the wing, although the usual mounting below the wing is still a possibility. The open rotor architecture is more efficient than today's designs, burning roughly one quarter less fuel. That would help to reduce carbon emissions from aircraft engines. The pair will also invest in technology to burn alternative fuels, including hydrogen, as well as hybrid-electric aircraft engines. Jet fuel, like gasoline and other fossil fuels, generates carbon dioxide, the main gas blamed for climate change, when burned. Hydrogen, on the other hand, generates only water vapor when burned, so its use would help with government efforts to rein in emissions of greenhouse gases. The RISE program means the two jet-engine makers will be working together until at least the middle of this century. GE and Safran produce engines for both Boeing (BA) and Airbus (AIR.France) in their 50/50 CFM joint venture. Those engines power narrow-body, or single-aisle, aircraft such as the A320 NEO and 737 MAX. "The relationship between GE and Safran today is the strongest it has ever been," said John Slattery, president & CEO of GE Aviation , in the company's news release. "Together, through the RISE technology demonstration program, we are reinventing the future of flight, bringing an advanced suite of revolutionary technologies to market that will take the next generation of single aisle aircraft to a new level of fuel efficiency and reduced emissions." The future isn't what investors were focused on Monday, though. GE stock was down about 0.7% in early trading, while Safran slipped about 0.1% overseas. The S&P 500 and Dow Jones Industrial Average, for comparison, were down about 0.1% and 0.3%, respectively. Year to date, GE stock is up about 26%. Safran shares have added about 7%. Both stocks are near their 52-week highs as investors focus on the recovery of commercial air travel and how it could boost demand for jets. Over the past weekend, almost 6 million people travelled on commercial flights in the U.S., That is still down 22% compared with 2019 levels, but it is up almost 300% year over year. |
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