WASHINGTON (dpa-AFX) - ITT Inc. (ITT) Tuesday has introduced VIDAR, a compact smart motor designed to improve energy efficiency, reduce CO2 emissions, lower costs, and extend the lifespan of industrial pumps and fans in harsh environments.
This innovation marks ITT's entry into the $6 billion industrial motors market.
Industrial operations spend approximately $300 billion annually on fluid movement, yet 85% of pumps and fans still use inefficient fixed-speed motors. Existing solutions, such as variable frequency drives (VFDs), are costly and require significant space.
VIDAR addresses these issues with an advanced variable frequency motor that is 60% smaller than current alternatives. It provides precise motor speed control, reducing energy and maintenance costs while ensuring optimal flow rates. Designed as a direct replacement for conventional motors, VIDAR eliminates the need for special wiring or expensive VFDs.
ITT CEO Luca Savi highlighted the significant market opportunity and praised the Syracuse-based development team for their six years of work on VIDAR. The motor has undergone extensive testing, demonstrating substantial energy savings.
For instance, replacing a single fixed-speed motor with VIDAR on an industrial pump reduced power consumption by 52%, equivalent to the annual energy use of 30 U.S. homes.
ITT is currently trading at $135.53 or 1.01% lower on the NYSE.
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