Xylem (XYL) Joins Lorentz to Boost Solar-Powered Pump Offerings
Xylem Inc. XYL announced that it is set to enter into a distribution agreement with German solar water pump manufacturer, LORENTZ, to expand the availability of solar-powered pumping systems across the globe, excluding the Australian market.
Commonly used in agriculture, irrigation and drinking water applications, these sustainable pumping solutions help water managers address decarbonization goals while reducing operating costs. Using renewable energy sources, solar-based pumping technology helps to deliver reliable, sustainable water at lower cost, even in remote locations.
The partnership will strengthen sustainable pumping offerings of both the companies. As part of the agreement, Xylem will harness the power of both companies’ solutions, while LORENTZ will provide the company with solar-powered and solar/grid hybrid pumping systems.
Xylem Inc. Price
Xylem Inc. price | Xylem Inc. Quote
Under the agreement, Xylem will collaborate with LORENTZ to develop new products, while its existing portfolio solutions will be boosted using LORENTZ technology.
Franz Cerwinka, senior vice president and president of Applied Water Systems and Business Transformation at Xylem, said, “This collaboration provides our customers with new sustainable pumping solutions as they strive to decarbonize and deliver cost-effective, efficient and resilient water management."
Zacks Rank & Key Picks
Xylem presently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks within the broader Industrial Products sector are as follows:
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Flowserve has an estimated earnings growth rate of 79.1% for the current year. The stock has jumped 27% so far this year.
Graham Corporation GHM currently flaunts a Zacks Rank #1. The company pulled off a trailing four-quarter earnings surprise of 243.1%, on average.
Graham has an estimated earnings growth rate of 400% for the current fiscal year. The stock has rallied 64.6% so far this year.
Applied Industrial Technologies AIT currently carries a Zacks Rank #2 (Buy). The company delivered a trailing four-quarter earnings surprise of 15%, on average.
Applied Industrial has an estimated earnings growth rate of 3.1% for the current fiscal year. The stock has gained 21.8% in the year-to-date period.
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