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    DEZ   DE0006305006

DEUTZ AG

(DEZ)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 10/21 07:22:11 am
7.098 EUR   -1.55%
10/12DEUTZ AG : Buy rating from Warburg Research
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10/07DEUTZ : expands alternative powertrain activities
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DEUTZ : joins eFuel Alliance

09/20/2021 | 02:42am EDT

20/09/2021

DEUTZ joins eFuel Alliance
  • Engine manufacturer DEUTZ keeps pursuing its sustainability strategy
  • Synthetic fuels made from renewable energies can help to mitigate climate change
  • E-fuels raise prospect of carbon-neutral engines in the off-highway segment

Cologne, September 20, 2021 - Engine manufacturer DEUTZ has joined the eFuel Alliance, and in doing so taken another important step forward in its sustainability strategy. The organization represents the interests of companies involved in producing synthetic fuels from renewable energies on an industrial scale. Its mission is to drive forward the production of e-fuels as an alternative to conventional fuels, help them to become broadly accepted, and thus contribute to the protection of the climate. DEUTZ will mainly represent the off-highway segment in the initiative.

'We are at the vanguard of a greener transport sector. DEUTZ believes that e-fuels provide a sensible alternative, alongside electric drives and hydrogen engines, that will help to achieve the Paris climate targets. For exactly this reason, we commit ourselves to play an active role in the eFuel Alliance,' says Dr. Frank Hiller, CEO of DEUTZ AG.

Monika Griefahn, spokeswoman for the eFuel Alliance, adds: 'We are delighted to be able to welcome DEUTZ AG as a partner in our network. The addition of the SDAX-listed, Cologne-based company brings the number of eFuel Alliance members to 150.'

E-fuels are synthetic fuels that are made on a renewable basis from water and carbon dioxide (CO2). The type of fuel used by an engine determines its emissions characteristics. By switching to biofuels or gas, the amount of pollutants and CO2 that the engine emits can be dramatically reduced, even to the point of making it fully carbon neutral.

Because of the heavy-duty nature of the applications and the long hours they are in use, commercial vehicles, tractors, and construction equipment need a fuel with a high energy density and rapid refueling. This is where e-fuels have a clear und advantage over purely electric drives. Not only are they easy to transport, but refueling can be done quickly using existing, globally available infrastructure.

In August 2021, DEUTZ approved its entire diesel engine portfolio for use with paraffinic fuels such as e-fuels. This means that alternative fuels can now also be used to run DEUTZ engines that meet the EU Stage V emissions standard. At the same time, DEUTZ has approved the majority of its latest-generation engines, particularly in the sub-4 liter and above-8 liter range, for biodiesel blends of up to 30 percent. The use of these alternative fuels significantly reduces the carbon footprint of DEUTZ's engines and raises the prospect of running engines on a carbon-neutral basis in the future.

Also in August, DEUTZ unveiled its first purely hydrogen-powered engine for off-highway applications, paving the way for zero-emission operation in this segment. The six-cylinder engine is set to go into series production in 2024.

Download press release (PDF)

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Disclaimer

Deutz AG published this content on 20 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 September 2021 06:41:05 UTC.


© Publicnow 2021
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Sales 2021 1 639 M 1 908 M 1 908 M
Net income 2021 32,4 M 37,7 M 37,7 M
Net Debt 2021 59,6 M 69,3 M 69,3 M
P/E ratio 2021 26,6x
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Capitalization 871 M 1 015 M 1 014 M
EV / Sales 2021 0,57x
EV / Sales 2022 0,49x
Nbr of Employees 4 631
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Spread / Average Target 23,4%
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Sebastian C. Schulte CFO, Head-Human Resources & Information Services
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