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conedrive.com

Founded Year

1925

Stage

Acquired | Acquired

About Cone Drive

Cone Drive is a manufacturer of solutions for precision motion control.

Cone Drive Headquarters Location

240 E 12th St

Traverse City, Michigan, 49684,

United States

888-994-2663

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Latest Cone Drive News

Timken Providing Precision Drives For First-Of-Its-Kind Solar Power Project In South Africa

Jul 13, 2022

Redstone facility in Northern Cape will use molten salt to store energy from the sun, deliver electricity to 200,000 homes during peak demand North Canton, OH /PRNewswire/ - The Timken Company (NYSE: TKR ; www.timken.com ), a global industrial leader in engineered bearings and power transmission products, has been selected as the exclusive provider of advanced precision drives for the Redstone Solar Thermal Power project in Northern Cape, South Africa. BrightSource Energy chose Timken's solar-tracking technology, developed by its Cone Drive business, to properly position Redstone's heliostat mirrors to reflect the sun's rays. The facility will store the thermal energy it collects in molten salt and convert it to electricity for delivery to South African consumers day and night. "Our expertise in application engineering is a differentiating factor that customers look for in a partner," said Kurt Gamelin, president, Cone Drive. "We work side-by-side with world-leading solar power providers and developers like BrightSource, offering innovative technology and solutions that help advance their products. These close partnerships lead to enhanced performance, extended product life and reliable operations for the customers we serve. It's rewarding to know that our engineering expertise is helping to create a more efficient and resilient world." Expected to begin commercial operations by the end of 2023, Redstone is capable of generating up to 100 MW, South Africa's largest renewable energy project to date. The facility is entirely emissions-free, with no requirement for natural gas or oil back up. Furthermore, Redstone significantly reduces water consumption for cooling by using an efficient, low-water dry cooling system. Timken's contributions to Redstone demonstrate its commitment to advancing environmental sustainability through product innovation, operational excellence and technology. The company has invested heavily in research and development for the solar energy market sector, building strong manufacturing, engineering and testing capabilities in both the United States and China. Renewable energy, which consists of both solar and wind, is Timken's single-largest end-market sector, representing approximately 12 percent of total company sales in 2021. About The Timken Company The Timken Company (NYSE: TKR ; www.timken.com) designs a growing portfolio of engineered bearings and power transmission products. With more than a century of knowledge and innovation, we continuously improve the reliability and efficiency of global machinery and equipment to move the world forward. Timken posted $4.1 billion in sales in 2021 and employs more than 18,000 people globally, operating from 42 countries. Timken has been recognized among America's Most Responsible Companies by Newsweek, the World's Most Ethical Companies ® by Ethisphere, and America's Best Employers , Best Employers for New Graduates and Best Employers for Women by Forbes. Source: The Timken Company

  • When was Cone Drive founded?

    Cone Drive was founded in 1925.

  • Where is Cone Drive's headquarters?

    Cone Drive's headquarters is located at 240 E 12th St, Traverse City.

  • What is Cone Drive's latest funding round?

    Cone Drive's latest funding round is Acquired.

  • Who are the investors of Cone Drive?

    Investors of Cone Drive include The Timken Company and Clyde Blowers Capital.

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