O-I Glass and Linde will install TCR technology at O-I's German plant to reduce emissions and fuel consumption.
Quiver AI Summary
O-I Glass, Inc. and Linde have announced a collaboration to implement Linde's OPTIMELTTM Thermochemical Regenerator technology at O-I's glass plant in Holzminden, Germany. This technology aims to significantly reduce fuel consumption and Scope 1 carbon dioxide emissions, enhancing energy efficiency in glass manufacturing by recovering waste heat to preheat natural gas. The OPTIMELTTM technology can work with various fuels, including low carbon hydrogen. Additionally, O-I will also install a Linde Centrifugal VITRON® Vacuum Pressure Swing Adsorption plant for a steady oxygen supply to the furnace, further improving efficiency and reducing environmental impact. This partnership reflects O-I's commitment to sustainability and innovation in the glass industry.
Potential Positives
- Collaboration with Linde to install OPTIMELTTM TCR technology will significantly reduce fuel consumption by approximately 30%, enhancing O-I Glass's operational efficiency.
- This partnership supports O-I's sustainability goals by substantially reducing Scope 1 carbon dioxide emissions, positioning the company as a leader in eco-friendly glass manufacturing.
- The implementation of advanced Centrifugal VITRON® VPSA technology aims to improve power efficiency and reduce environmental impact, showcasing O-I's commitment to innovation and sustainability.
- O-I continues to strengthen its relationship with Linde, a trusted partner for nearly 30 years, indicating stable and long-term collaboration for technological advancements.
Potential Negatives
- The announcement may imply that O-I Glass has been lagging in implementing advanced technologies for energy efficiency and decarbonization, necessitating a partnership with Linde for improvement.
- The heavy reliance on Linde’s technology for reducing emissions could raise concerns about O-I’s own technological capabilities and innovation in sustainability practices.
- While the initiatives may help decarbonize operations, they could also imply that O-I Glass has significant current emissions levels that need addressing, which might raise questions among stakeholders about their environmental performance.
FAQ
What is the purpose of the O-I and Linde collaboration?
The collaboration aims to install Linde's OPTIMELTTM Thermochemical Regenerator technology to reduce fuel consumption and Scope 1 carbon dioxide emissions at O-I's facility.
How does the OPTIMELTTM TCR technology work?
This technology recovers waste heat from glass furnace flue gas to preheat and reform the natural gas feed, enhancing energy efficiency.
What are the benefits of implementing this technology?
The technology can decrease fuel consumption by approximately 30% and is compatible with various fuels, including low carbon hydrogen blends.
What additional projects are O-I and Linde pursuing together?
O-I has commissioned Linde to install a Centrifugal VITRON® Vacuum Pressure Swing Adsorption plant for a consistent oxygen supply for their furnace.
Why is this partnership significant for the glass industry?
This partnership highlights advancements in energy efficiency and carbon reduction, supporting O-I's sustainability goals and helping customers with their decarbonization efforts.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$OI Insider Trading Activity
$OI insiders have traded $OI stock on the open market 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $OI stock by insiders over the last 6 months:
- RANDOLPH L BURNS (SVP, Chief Admin & Sus Officer) purchased 13,000 shares for an estimated $147,942
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$OI Hedge Fund Activity
We have seen 109 institutional investors add shares of $OI stock to their portfolio, and 178 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- NORGES BANK removed 1,849,611 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $20,049,783
- HIGHLAND PEAK CAPITAL, LLC added 1,809,237 shares (+87.5%) to their portfolio in Q4 2024, for an estimated $19,612,129
- GOLDMAN SACHS GROUP INC added 1,763,710 shares (+70.1%) to their portfolio in Q4 2024, for an estimated $19,118,616
- COOPER CREEK PARTNERS MANAGEMENT LLC added 1,705,216 shares (+18.2%) to their portfolio in Q4 2024, for an estimated $18,484,541
- UBS GROUP AG added 1,620,975 shares (+584.8%) to their portfolio in Q4 2024, for an estimated $17,571,369
- LUMINUS MANAGEMENT LLC removed 1,447,419 shares (-46.4%) from their portfolio in Q4 2024, for an estimated $15,690,021
- CANADA LIFE ASSURANCE CO removed 1,266,935 shares (-89.2%) from their portfolio in Q4 2024, for an estimated $13,733,575
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$OI Analyst Ratings
Wall Street analysts have issued reports on $OI in the last several months. We have seen 1 firms issue buy ratings on the stock, and 1 firms issue sell ratings.
Here are some recent analyst ratings:
- Barclays issued a "Negative" rating on 10/31/2024
- Bank of America Securities issued a "Buy" rating on 10/17/2024
To track analyst ratings and price targets for $OI, check out Quiver Quantitative's $OI forecast page.
$OI Price Targets
Multiple analysts have issued price targets for $OI recently. We have seen 5 analysts offer price targets for $OI in the last 6 months, with a median target of $15.0.
Here are some recent targets:
- Michael Roxland from Truist Financial set a target price of $15.0 on 10/31/2024
- Alton Stump from Loop Capital Markets set a target price of $12.0 on 10/31/2024
- Michael Leithead from Barclays set a target price of $13.0 on 10/31/2024
- George Staphos from Bank of America Securities set a target price of $16.0 on 10/17/2024
- Anthony Pettinari from Citigroup set a target price of $15.0 on 10/02/2024
Full Release
Danbury, Connecticut/Perrysburg, Ohio, March 24, 2025 (GLOBE NEWSWIRE) -- O-I Glass, Inc. (“O-I Glass” or “O-I”) and Linde today announced plans to install Linde’s proprietary OPTIMELTTM Thermochemical Regenerator (TCR) technology at O-I’s container glass plant in Holzminden, Germany. This collaboration is expected to significantly reduce both fuel consumption and fuel-based Scope 1 carbon dioxide emissions for O-I, a global leader in glass manufacturing.
Linde offers a broad range of technologies, including the patented OPTIMELTTM TCR technology, to help glass manufacturers increase the energy efficiency of their melting operations. This unique technology recovers waste heat from glass furnace flue gas to preheat and reform the natural gas feed. This decreases fuel consumption of the melting process by approximately 30% versus furnaces that do not feature this technology. The OPTIMELTTM TCR technology is also compatible with a range of fuels such as low carbon hydrogen or blends of hydrogen and natural gas. Linde’s OPTIMELTTM TCR technology is being implemented by glass manufacturing customers worldwide, including in the United States.
“Linde has provided innovative oxygen and burner technology to the glass industry for more than three decades. We offer a broad range of leading-edge technologies to help glass manufacturers increase energy efficiency and substantially reduce Scope 1 carbon dioxide emissions,” said Dr. Amitabh Gupta, Vice President Technology, Linde. “We are proud of our almost 30-year track record of supplying oxygen to O-I and look forward to expanding our relationship by providing this cost-effective solution to help O-I decarbonize.”
Randy Burns, Chief Administrative & Sustainability Officer for O-I, commented, “We continue partnering with innovators and strategically deploying leading-edge technologies to improve energy efficiency and reduce fuel consumption. In addition to supporting O-I’s objectives, this will help our customers in their own decarbonization efforts”.
In addition, O-I has commissioned Linde to install an advanced Centrifugal VITRON® Vacuum Pressure Swing Adsorption (VPSA) plant at the Holzminden plant to produce a steady supply of oxygen for the furnace. As part of Linde’s ECOVAR® small on-site portfolio, the VITRON® plant incorporates the latest proprietary Linde technology to significantly improve power efficiency, lower noise emissions, and further reduce the environmental footprint for O-I and for multiple global customers in the glass industry.
A bout O-I GLASS
At O-I Glass, Inc. (NYSE: OI), we love glass, and we are proud to be one of the leading producers of glass bottles and jars around the globe. Glass is not only beautiful, it is also pure, healthy, and completely recyclable, making it the most sustainable rigid packaging material. Headquartered in Perrysburg, Ohio (USA), O-I is the preferred partner for many of the world’s leading food and beverage brands. We innovate in line with customers’ needs to create iconic packaging that builds brands around the world. Led by our diverse team of approximately 21,000 people across 69 plants in 19 countries, O-I achieved revenues of $6.5 billion in 2024. Learn more about us: o-i.com / Facebook / Twitter / Instagram / LinkedIn
About Linde
Linde is a leading global industrial gases and engineering company with 2024 sales of $33 billion. We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain, decarbonize and protect our planet.
The company serves a variety of end markets such as chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde's industrial gases and technologies are used in countless applications including production of clean hydrogen and carbon capture systems critical to the energy transition, life-saving medical oxygen and high-purity & specialty gases for electronics. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.
For more information about the company and its products and services, please visit linde.com .