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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Ricardo plc    RCDO   GB0007370074

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Ricardo plc : Ricardo contributes to landmark report on liquid air as a sustainable energy vector

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05/09/2013 | 11:40am CEST
  • Results of this key multi-partner research project being presented today at a conference at the Royal Academy of Engineering in London
  • Ricardo has authored the report chapter focusing on the potential of liquid air for transport applications


The report, Liquid Air in the energy and transport systems: Opportunities for industry and innovation in the UK is the culmination of a six-month study on the potential of liquid air as a new and sustainable energy vector. Organized by the Centre for Low Carbon Futures, the work was conducted by a collaboration including industrial partners Arup, Dearman Engine Company, E4 Tech, Highview, Messer Group and Ricardo, as well as academics from the Universities of Leeds, Birmingham, Strathclyde, Brighton and Imperial College London.

The chapter contributed by Ricardo analyses in detail the potential application of liquid air and liquid nitrogen in transport applications, ranging from their employment as a primary means of energy storage for propulsion, to possible uses as an enabler for other low carbon innovations such as split-cycle combustion and exhaust heat recovery.  A wide range of potential applications in different vehicle sectors is identified, and the chapter concludes that liquid air appears to offer a balance of characteristics that could make it competitive against alternatives such as hydrogen, advanced batteries or compressed air systems, and hence worthy of further development.

"We were pleased to be able to participate in this important study organized by the Centre for Low Carbon Futures", said Ricardo chief technology and innovation officer, Professor Neville Jackson. "Liquid air offers significant potential benefits as a future energy vector, both for use in light duty propulsion and as an enabler for other promising low carbon powertrain innovations, particularly waste heat harvesting. It is clearly worthy of further research and development effort to create a better understanding of its potential alongside more widely recognized potential future low carbon technologies such as advanced battery systems and hydrogen."

The report, Liquid Air in the energy and transport systems: Opportunities for industry and innovation in the UK, can be viewed on the Liquid Air Energy Network website at www.liquidair.org.uk

Ends

A full copy of this press release is available from the link at the top right of this page.

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Financials ( GBP)
Sales 2017 356 M
EBIT 2017 40,2 M
Net income 2017 25,3 M
Debt 2017 15,1 M
Yield 2017 2,71%
P/E ratio 2017 14,96
P/E ratio 2018 12,97
EV / Sales 2017 1,10x
EV / Sales 2018 1,07x
Capitalization 376 M
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 9,55  GBP
Spread / Average Target 36%
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David Shemmans Chief Executive Officer & Executive Director
Terence Keith Morgan Non-Executive Chairman
Mark Garrett Chief Operating Officer & Executive Director
Ian Gibson Chief Financial Officer & Executive Director
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