Flowserve to Supply Pumps to Leading Immersion Cooling Technology Provider | New

DALLAS–(BUSINESS WIRE)–June 15, 2022–

Flowserve Corporation (NYSE:FLS), a leading provider of flow control products and services for global infrastructure markets, today announced that it has been awarded a contract to supply pumps to TMGcore, Inc., a leading high performance computing provider based in Texas. specialized solutions in liquid immersion cooling technology.

Unlike traditional data centers, today’s innovative technologies such as artificial intelligence, deep learning, Internet of Things (IoT) and cloud computing require the processing of an enormous amount of data. higher, increasing the need for increased server capacity. Simultaneously, as stakeholders in these industries seek to reduce power consumption in data centers, there is a growing demand for immersion cooling technology. Immersion cooling can handle higher thermal loads in high density servers at minimal cost, and they are also more energy efficient compared to traditional air cooling.

Flowserve will work with AGI Industries to supply 5,000 industrial process pumps to TMGcore, which will be used in various patented immersion cooling units designed through its scientific approach. Flowserve pumps will circulate dielectric fluids, which provide heat dissipation and server cooling in single-phase immersion-cooled units.

“Liquid cooling has significantly more ability to dissipate heat than air cooling and has proven to be more efficient. A critical component of immersion-cooled units are the commercial-grade pumps that move and recirculate fluid,” says John-David Enright, Sr., CEO of TMGcore. “Flowserve has demonstrated both its commitment to this sustainability-friendly technology and the quality of its customer service for us as a business customer.”

Driven by our diversification, decarbonization and digitalization strategy, this partnership represents progress in our market diversification. “This really illustrates the dynamic capabilities of our pumps, and we are proud to be part of the future of data centers,” said Tamara Morytko, President of Flowserve Pumps Division. “As we seek out diverse markets to support our growth strategy, we are committed to continuing to innovate with our current and future customers in mind.”

To learn more about how Flowserve is supporting new and existing customers with the new 3D strategy, visit https://www.flowserve.com/en/energy-transition/diversification-decarbonization-digitization/.

About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Present in more than 55 countries, the company produces technical and industrial pumps, seals and valves, as well as a range of related flow management services. You can get more information about Flowserve by visiting the company’s website at www.flowserve.com.

Safe Harbor Statement: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as “may”, “should”, “expect”, “could”, “intend”, “plan”, “anticipate”, “estimate”, “believe”, “expects”, “predicts” or other similar expressions are intended to identify forward-looking statements, which include, but are not limited to, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs , future plans and strategies and anticipated developments regarding our industry, business, operations and financial performance and condition.

The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. These forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is anticipated in these forward-looking statements, and include, but are not limited to, the following: a portion of our bookings may not result in realized sales , and our ability to convert bookings into revenue at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make necessary capital and maintenance expenditures; risks associated with cost overruns on fixed-price projects and taking customer orders for large, complex, custom-designed products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the negative impact of commodity price volatility on our revenues and operating margins; our ability to execute and realize the expected financial benefits of our strategic manufacturing optimization and realignment initiatives; economic, political and other risks associated with our international operations, including military actions or trade embargoes that could affect customer markets, particularly Middle Eastern markets and global oil and gas producers, and the non-compliance with US export/re-export controls, foreign bribery enforce laws, economic sanctions, and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to currency fluctuations, including in hyperinflationary countries such as Venezuela; our supply of products and services to nuclear power plants and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving claims relating to asbestos-containing materials; a foreign government investigation into our participation in the United Nations Oil for Food Program; expectations regarding acquisitions and the integration of acquired businesses; our ability to anticipate and manage cybersecurity risks, including the risk of potential business disruptions or financial loss; our relative geographic profitability and its impact on our use of deferred tax assets, including foreign tax credits; the potential negative impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence on third-party suppliers whose failure to meet deadlines could harm our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor issues; our inability to protect our intellectual property in the United States, as well as in foreign countries; obligations under our defined benefit pension plans; and other factors described from time to time in our filings with the Securities and Exchange Commission.

All forward-looking statements included in this press release are based on information available to us as of the date hereof, and we undertake no obligation to update any forward-looking statement.

Show source version on businesswire.com:https://www.businesswire.com/news/home/20220615005280/en/

CONTACT: Investor contacts:

Jay Roueche, Vice President, Investor Relations and Treasurer, (972) 443-6560

Mike Mullin, Director, Investor Relations, (972) 443-6636Media Contact:

Lars Rosene, Vice President, Corporate Communications and Public Affairs, (972) 443-664

KEYWORD: TEXAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: OTHER MANUFACTURING TECHNOLOGIES ENGINEERING CHEMICALS/PLASTICS MATERIAL MANUFACTURING DATA MANAGEMENT OTHER SCIENCE SCIENCE

SOURCE: Flowserve Corporation

Copyright BusinessWire 2022.

PUBLICATION: 06/15/2022 07:30 / DISK: 06/15/2022 07:32

http://www.businesswire.com/news/home/20220615005280/en

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