MOUNTAIN VIEW, Calif., March 2, 2016 /PRNewswire/ – Based on its recent analysis of the industrial steam turbine market, Frost & Sullivan recognizes Siemens AG with the 2015 European Frost & Sullivan Award for New Product Innovation. The company’s pioneering Enhanced Platform design for industrial steam turbines has created products that define industry standards, making it the global leader in the industry. Siemens AG Industrial steam turbines are crucial to efficient functioning in mechanical or generator drive applications and for steam conditioning processes across a range of industries. While other turbine manufacturers struggle to balance quality, reliability and price for demanding and cost-sensitive clients, Siemens has surged ahead through its Enhanced Platform design. The technology uses a modular approach that leverages well-known and proven product lines to create customized turbine solutions for clients. This allows for maximum flexibility due to standardization at the sub-part level, leading to increased overall efficiency. “The Enhanced Platform is unique in that it combines the advantages of all the established Siemens Industrial Steam Turbine product lines with latest technologies,” said Frost & Sullivan Research Analyst Manoj Shankar. “Since it establishes a common basis for the company’s product line, the need for maintenance and upgrades is also significantly reduced.” The Enhanced Platform enables various customer criteria to be met, even in industries such as petrochemicals, oil & gas, steel and mining, which have stringent norms for turbine selection and usage. For instance, with up to 2 percent higher efficiency, Siemens’s turbines provide better environmental protection, especially for operations in ecologically sensitive areas. The optimized homogenous geometrical casing design for turbines can reduce start-up time up to 50 percent and offer greater flexibility in operation (load changes). These solutions also cut down CO2 emissions by an average 15 percent over the entire lifetime of the turbine. Further, Siemens has put in operation developed the world’s first oil-free steam turbine unit with power output up to 10 MW, made possible through proprietary active magnetic bearings combined with electromechanical actuators that help avoid contact between rotors and bearings. Oil-free turbines offer better fire protection and safety in industries such as petrochemicals and oil & gas. The technology is difficult to replicate as it requires special patented cooling systems, giving Siemens a competitive advantage in key industries. “Siemens’s Enhanced Platform addresses customers’ need for extended operating capabilities and economical solutions,” confirmed Manoj Shankar. “It incorporates improved blade designs, steam paths, and components to create the best fit for each customer with maximum reliability. Extensive testing and design improvements, such as symmetrical casing, ensure turbines that can handle steam temperatures up to 565 degrees Celsius and pressure up to 165 bar.” Due to its brand recognition, Siemens now has the largest installed service base in the world for industrial steam turbines. Manufacturing and service centers at key locations lead to shorter delivery and service time. As a result, the company leads in the European market as well as key markets such as Asia and North America. Siemens continues to power ahead through its research and innovation-based approach to industrial products. In recognition of the advances and value brought to the market, Frost & Sullivan is pleased to present Siemens AG with the 2015 European Award for New Product Innovation. Each year, this award is given to a company that has developed an innovative element in a product by leveraging leading-edge technologies. The award recognizes the value-added features/benefits of the product and the increased return on investment (ROI) it offers customers, which, in turn, increases customer acquisition and overall market penetration potential. Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry. About Siemens AG Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 165 years. The company is active in more than 200 countries, focusing on the areas of electrification, automation and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is No. 1 in offshore wind turbine construction, a leading supplier of gas and steam turbines for power generation, a major provider of power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. The company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2015, which ended on September 30, 2015, Siemens generated revenue of