The value of Vestas Wind Systems A/S (OTCPink: VWSYF) slipped slightly lower at the close yesterday, falling by -0.38% to $38.602. The Vestas stock had a volume of 4.63K shares, compared to its weekly average of 15.94K shares. In absence of any news, VWSYF stock was relatively stable, so recent developments could help us get a more comprehensive insight into VWSYF.
How have things been lately at Vestas?
Vestas designs, builds, installs, and services wind turbines around the world. In addition to its Power Solutions segment, VWSYF operates in the Service segment as well. Vestas’ Power Solutions segment specializes in wind power plants, wind turbines, and development sites. A variety of services, spare parts, and related products and services are offered by the VWSYF’s Service segment.
Last week, Vestas announced new technology that ensures wind turbine blades can be recycled fully, eliminating the need to dump old blades.
- In 2050, turbine blade waste is expected to account for 43 million tonnes, according to a 2017 study by the University of Cambridge.
- It is difficult to recycle blades, which lead to them ending up in landfills.
- In a statement, VWSYF’s head of sustainability and advanced materials, Allan Poulsen, said the new technology is a significant step toward enabling a future where landfills are no longer necessary for blade decommissioning.
- The blades of wind turbines are constructed by heating glass or carbon fibres with sticky epoxy resin, which combines the materials, providing a strong and lightweight composite material, but also makes it difficult to recycle the original materials.
What is VWSYF trying to accomplish?
The Chemical producer Olin, which produces resin for turbine blades; Danish Technological Institute, an independent research and technology institute; and Denmark’s Aarhus University are among the partners of Vestas (VWSYF) on the project. The VWSYF also anticipates using the technology for airplane and car components within three years through this project.