OPW Clean Energy Solutions Expands Model CV Valve Product Line for Hydrogen Market

Rhea-AI Summary

On May 22, 2024, ACME Cryogenics, a segment of OPW Clean Energy Solutions and Dover (NYSE: DOV), announced new 6" and 8" valves for its Model CV Valve product line. These larger valves meet the increasing demand for hydrogen applications. Dan Hutchinson, Technical Sales Manager, emphasized that these additions highlight the company's commitment to supporting the expanding hydrogen infrastructure. The Model CV valves, ideal for hydrogen handling, also comply with ASME B31.3 and CSA B51 regulations. They cater to various industries, including aerospace, food & beverage, electronics, vehicle refueling, industrial manufacturing, and medical.

Positive

• New 6" and 8" valves expand the Model CV Valve product line, targeting growing hydrogen market.
• The new valves reflect the company's commitment to hydrogen infrastructure expansion.
• Compliance with ASME B31.3 and CSA B51 ensures regulatory adherence, enhancing product reliability.
• The valves are versatile, serving industries such as aerospace, food & beverage, electronics, vehicle refueling, industrial manufacturing, and medical.

Negative

• No specific financial data provided, making it difficult to assess the immediate economic impact.
• Potential risk if the hydrogen market growth does not meet expectations.
• Expansion costs might affect short-term financial performance.

Market Research Analyst

The expansion of ACME Cryogenics' Model CV Valve product line reflects a strategic move to capitalize on the growing hydrogen market. As hydrogen infrastructure develops globally, there is a rising need for larger bore size valves, which this product line meets. This development indicates that OPW Clean Energy Solutions is attuned to market demands and ready to position itself as a key player in hydrogen technology.

For investors, this is an interesting signal that OPW is not only keeping pace with technological advancements but also potentially gaining a competitive edge. The hydrogen market is expected to grow exponentially, with increasing applications across various industries like aerospace, electronics and vehicle refueling. Being compliant with ASME B31.3 and CSA B51 standards adds a layer of credibility and reliability to their product, which is important given the complex regulatory environment in the energy sector.

Short-term, this product expansion may not have a significant immediate impact on stock prices. However, long-term, if OPW and Dover can secure substantial market share in the hydrogen infrastructure sector, it could contribute positively to revenue growth and market positioning.

Technical Analyst

From a technical standpoint, the introduction of 6" and 8" valves to the Model CV Valve product line demonstrates ACME Cryogenics' focus on innovation and adaptation. The ability to handle hydrogen safely and efficiently is critical, as hydrogen is a highly volatile element. The new valves' compliance with ASME B31.3 and CSA B51 regulations underscores their capability and safety standards for industrial applications involving high pressure and variable temperatures.

This compliance is not merely a regulatory formality but a testament to the valve's engineering robustness and reliability, which are paramount in high-stakes environments like aerospace and vehicle refueling. Investors should note that such compliance indicates lower risk of regulatory issues, operational failures and potential liabilities, making it a sound addition to OPW's product offerings.

DOWNERS GROVE, Ill., May 22, 2024 /PRNewswire/ -- ACME Cryogenics, part of OPW Clean Energy Solutions and Dover (NYSE: DOV), today announced that it has developed new 6" and 8" valves for its Model CV Valve product line. These additions satisfy the growing customer demand for hydrogen valves with larger bore sizes.

"We are proud to introduce new valve sizes within our CV Valve product line following the global expansion of hydrogen infrastructure. These larger components reflect our commitment to meeting the evolving needs of our customers, providing them with reliable solutions for the growing hydrogen market," Dan Hutchinson, ACME Cryogenics Technical Sales Manager.

The ACME Model CV valves possess design and operational benefits that make them both ideal for the handling of hydrogen and compatible for use in applications that require a vacuum-jacketed valve and piping system. All Model CV valves are compliant with ASME B31.3 and CSA B51 regulations that govern the use of valves in industrial applications with various pressure and temperature ratings. Model CV valves are rated for hydrogen-handling use in a wide range of markets and industries, including aerospace, food and beverage, electronics, vehicle refueling, industrial manufacturing and medical.

For more information about the extension of the ACME Cryogenics Model CV Valve product line and other OPW Clean Energy Solutions equipment and systems, please visit opwces.com.

About ACME Cryogenics:

Established in 1969 and headquartered in Allentown, PA, ACME Cryogenics is a provider of highly engineered, mission-critical components and services that facilitate the production, storage and distribution of cryogenic gases that are used in a variety of applications. ACME supplies engineered components such as valves, vacuum-jacketed piping, fittings, LNG fueling components and other specialty flow-control devices. In 2021, ACME was acquired by Dover Corporation and became a founding member of OPW Clean Energy Solutions, which is housed within the Dover Clean Energy & Fueling business segment.

About OPW Clean Energy Solutions:

OPW Clean Energy Solutions was formed in December 2021 when OPW acquired both ACME Cryogenics and RegO® Products. ACME is a leading provider of mission-critical cryogenics products and services that facilitate the production, storage and distribution of cryogenics liquids and gases. RegO is a leading provider of highly engineered flow control solutions for cryogenic and liquified gas end markets. Together, they are taking OPW beyond conventional fueling solutions and helping define what's next for alternative energy markets. For more information on OPW Clean Energy Solutions, please visit opwces.com.

About Dover:

Dover is a diversified global manufacturer and solutions provider with annual revenue of over $8 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions and Climate & Sustainability Technologies. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 65 years, our team of approximately 25,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV." Additional information is available at dovercorporation.com.

OPW Clean Energy Solutions Contact:
Brittany Eppley
(330) 212-1690
brittany.eppley@opwglobal.com 

Dover Media Contact:
Adrian Sakowicz, VP, Communications    
(630) 743-5039    
asakowicz@dovercorp.com     

Dover Investor Contact:
Jack Dickens, Senior Director, Investor Relations
(630) 743-2566
jdickens@dovercorp.com

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SOURCE Dover

FAQ

What new products did ACME Cryogenics announce on May 22, 2024?

ACME Cryogenics announced new 6" and 8" valves for its Model CV Valve product line.

Why did ACME Cryogenics expand its Model CV Valve product line?

To meet the growing demand for larger bore sizes in hydrogen applications.

What industries will benefit from ACME's new CV Valve sizes?

Industries such as aerospace, food & beverage, electronics, vehicle refueling, industrial manufacturing, and medical.

Are the new Model CV valves compliant with regulations?

Yes, they comply with ASME B31.3 and CSA B51 regulations.

What stock symbol is associated with ACME Cryogenics?

Dover, the parent company, is listed under the symbol DOV.