United Technologies in the context of "Escalators"

The Crescent Dunes Solar Energy Project is a solar thermal power project with an installed capacity of 110 megawatt (MW) and 1.1 gigawatt-hours of energy storage located near Tonopah, about 190 miles (310 km) northwest of Las Vegas. Crescent Dunes is the first commercial concentrated solar power (CSP) plant with a central receiver tower and advanced molten salt energy storage technology at full scale (110 MW), following the experimental Solar Two and Gemasolar in Spain at 50 MW. As of 2023, it is operated by its new owner, Vinci SA, and in a new contract with NV Energy, it now supplies solar energy at night only, drawing on thermal energy stored each day.

Startup energy venture company SolarReserve (created via seed funding), US Renewables Group, and United Technologies were the original owners of Tonopah Solar Energy LLC, the owner and operator of the Crescent Dunes plant. The Crescent Dunes project was subsequently backed by a $737 million in U.S. government loan guarantees and by Tonopah partnering with Cobra Thermosolar Plants, Inc. The overall venture had a projected cost of less than $1 billion. The plant suffered several design, construction and technical problems and, having not produced power since April 2019, its sole customer, NV Energy, subsequently terminated its contract. Bloomberg reported that NV Energy was not allowed to sever its agreement with the plant until after the DoE took over the shuttered plant in August 2019.

Raytheon is a business unit of RTX Corporation and is a major U.S. defense contractor and industrial corporation with manufacturing concentrations in weapons and military and commercial electronics. Founded in 1922, it merged in 2020 with United Technologies Corporation to form Raytheon Technologies, which changed its name to RTX Corporation in July 2023.

Raytheon was established in 1922, reincorporated in 1928, and adopted the Raytheon Company name in 1959. More than 90% of Raytheon's revenues were obtained from military contracts and, as of 2012, it was the fifth-largest military contractor in the world. As of 2015, it was the third-largest defense contractor in the United States by defense revenue. It was the world's largest producer of guided missiles, and was involved in corporate and special-mission aircraft until early 2007. In 2018, the company had around 67,000 employees worldwide and annual revenues of about US$25.35 billion.