ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Parker Becomes the Official Control Systems Partner to American Magic for the 2024 America’s Cup

CLEVELAND, Dec. 19, 2023 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced it will design and implement advanced control systems for New York Yacht Club American Magic racing yachts and support the challenger’s pursuit of the 37th America’s Cup. 

As Official Control Systems Partner to American Magic, Parker will use its proven aerospace and industrial technologies for systems that enable precise control of the yacht’s lifting surfaces and wing - providing optimum performance that is critical at the elite level of competitive sailing. 

“Parker is thrilled to support American Magic once again, building on our achievements from the previous campaign and the trusted partnership we have developed together,” said Mark Czaja, Vice President - Chief Technology and Innovation Officer for Parker. “Their elite sailors will helm some of the fastest boats ever built, and we look forward to the challenge of bringing the America’s Cup back in 2024.”

The upcoming America's Cup will feature the AC75 class, a high-performance foiling monohull. With a crew of eight members, the AC75 is renowned for its distinctive engineering and sailing techniques, enabling it to attain early lift and reach remarkably high speeds while foiling. The boat undergoes continuous enhancements, focusing on reduced weight and upgraded onboard electronics and software systems.

"We're truly privileged to have Parker as a vital part of our team," said Terry Hutchinson, Skipper and Executive Director of American Magic. "Parker has brought in world-class engineers and cutting-edge products that significantly enhance our capabilities. Their extensive experience in sailing, the marine industry, and the America’s Cup has been invaluable. As we evolve through this campaign, we have confidence that Parker's continued support will be instrumental in our pursuit of victory in the 37th America’s Cup."

By applying more than a century of engineering expertise, Parker will integrate its controls, hydraulics and actuators into a key motion and control system that helps the boat achieve stability as it lifts onto its foils and accelerates. 

“When the America’s Cup racing yachts begin to rise above the water, traveling faster than the wind, and you watch as they literally take flight, part of it does feel like magic,” added Czaja. “Our engineers are excited to apply Parker’s technologies and flight control expertise at the highest level of international sport, and we are honored to compete in this historic race as part of the American Magic team.”

The 37th America’s Cup will take place in Barcelona, Spain in October 2024. Prior to the match, American Magic will compete in the final Preliminary Regatta and the Louis Vuitton Cup, the Challenger selection events, for the right to face current Cup Defender Team New Zealand. 

Please visit New York Yacht Club American Magic to learn more. 

About Parker Hannifin
Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Learn more at www.parker.com or @parkerhannifin.com.

About American Magic
American Magic is building the high-performance sailing franchise in the United States with a dual mandate to win the America’s Cup and elevate sailing in America. Formed in 2017, New York Yacht Club American Magic combines two highly successful American racing programs, Bella Mente Racing and Quantum Racing, with one of the most prestigious yacht clubs in the world. All are united by a determination to regain the America’s Cup, reconnect the American sailing base with the premier event in the sport, and elevate the quality of competitive sailing in the United States.

###

Attachment


Media –
Aidan Gormley - Director, Global Communications and Branding
216/896-3258
aidan.gormley@parker.com

Primary Logo

Recent Quotes

View More
Symbol Price Change (%)
AMZN  231.90
-2.52 (-1.08%)
AAPL  284.54
-1.65 (-0.58%)
AMD  216.88
+1.63 (0.76%)
BAC  54.10
+0.91 (1.71%)
GOOG  321.08
+5.06 (1.60%)
META  644.38
-2.72 (-0.42%)
MSFT  482.10
-7.90 (-1.61%)
NVDA  180.82
-0.64 (-0.35%)
ORCL  207.40
+6.30 (3.13%)
TSLA  445.88
+16.64 (3.88%)
Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.