Carrier Announces Agreement to Sell Global Access Solutions Business to Honeywell for $4.95 Billion

PALM BEACH GARDENS, Fla., Dec. 8, 2023 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, entered into a definitive agreement today to sell its security business, Global Access Solutions, which includes the industry-leading brands of LenelS2, Supra and Onity, to Honeywell (NASDAQ: HON) for an enterprise value of $4.95 billion, which represents approximately 17x 2023 expected EBITDA. The sale agreement is a successful first step in Carrier's portfolio transformation.

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Rinnai: what is solar thermal / solar heat technology?

Solar thermal technology captures the sun’s energy for heating purposes, such as water heating, industrial processes, and space heating. It uses a thermal absorber to capture and convert the sunlight’s energy to thermal energy. The different types of solar thermal technologies include.

NORESCO Recognized as Accredited Energy Services Provider by NAESCO

WESTBOROUGH, Mass. -NORESCO has been recognized as an Accredited Energy Service Provider (ESP) by the National Association of Energy Service Companies (NAESCO), the leading advocacy and accreditation organization for energy service companies dedicated to modernizing America’s building infrastructure through performance contracting. NORESCO is part of Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions.

LG CEO Wraps Up the Year With F.U.N. Talk

Since assuming office at the end of 2021, LG CEO William Cho has actively engaged with company employees through the ‘CEO F.U.N. Talk’ program. The 9th session of this program was held on December 7 at the LG Twin Tower in Yeouido, Seoul, providing a reflective overview of the year and expressing determination to accelerate the achievement of Future Vision 2030 in a meaningful and enjoyable communication session.

The building safety act will not create two models, says BESA

The construction industry will not be able to operate a two-track system under new building safety legislation, according to the Building Engineering Services Association (BESA). The early focus of the Building Safety Act is on higher-risk buildings (HRBs) which are primarily high-rise multi-use and residential, but this does not mean all other work can carry on as before, the Association warned.

Haier Spain Won TUEXPERTO.COM Award

On November 17th, Haier refrigerator and Candy dishwasher won the best product award of the Spanish technology website TUEXPERTO.COM. It is understood that TUEXPERTO.COM is one of Spain's most popular and most visited technical news websites. It has been established for seventeen years, which is an important reference for local users.

The global frozen food market in 2022

Despite food price inflation, Europe remained the largest frozen food market in 2022. According to Frozen Food Europe, the global frozen food market was estimated at USD 392.4 billion in 2022 and is projected to reach USD 612.3 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.6% between 2023 and 2032. In 2022, Europe dominated the global frozen food market, with a market share of around 37%.

ebm‑papst: Retrofit on its own doorstep

ebm‑papst is carrying out a retrofit to bring the ventilation systems at its German locations up to the latest state of the art, including replacing its existing EC fans. By upgrading 161 systems in all, the company will achieve energy savings totaling around 10 percent.

COP28: Wilo takes part in the United Nations Climate Change Conference in Dubai

ENOUGH Project: Joint Statement on Food Waste Reduction

Lennox Declares Quarterly Dividend and Announces Annual Meeting

Mitsubishi Electric, ME Innovation Fund Invests in Hayden AI Technologies, Inc.

Coracle World Championships raises £29,500 for Macmillan Cancer Support charity

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Regular 11/2023

Special 11/2023

Cover Story

European Heat Pump Summit — A Lighthouse for the Heat Pump Industry

Heat pumps are widely regarded as a key technology for reducing greenhouse gas (GHG) emissions and achieving the goals of the Paris Agreement. However, the heat pump sector faces many challenges, such as the instability of subsidy policies, the F-gas Regulation, the shortage of installation and service technicians, and social acceptance. To address these issues and share the latest developments and innovations in the field, the European Heat Pump Summit (EHPS) was held in Nuremberg, Germany, on October 24 to 25, 2023.

German New Buildings Energy Act to Be a Heat Pump Market Driver

This year, the European heat pump market, which has grown rapidly over the past few years, particularly in the air-to-water (ATW) segment, has lost its growth momentum, partly due to the reduction in or termination of government subsidies in several countries including Italy. In this context, Germany decided to start new funding as of 2024 in order to accelerate a shift to renewable energy heating, and this policy is expected to be a new strong market driver for heat pumps.

Heat Waves Fail to Become a Powerful AC Market Booster

As JARN reported in the August regular issue, the global room air conditioner (RAC) market in the first half of 2023 grew less than expected, with a slight 4% increase compared with the same period of 2022. Regarding the second half of the year, JARN forecast that the market would expand, mainly due to the heat waves that hit many areas in the Northern Hemisphere during the summer. In order to verify this prediction, JARN recently conducted market trend surveys using questionnaires sent to global air conditioner manufacturers.

Interview

Daikin Targets Top Position in European Heat Pump Heating Market

Daikin’s heating, ventilation, air conditioning, and refrigeration (HVAC&R) business sales in Europe for fiscal year 2022 ending March 31, 2023, ranked second after the Americas among the group’s regional HVAC&R business sales. Daikin Europe, which is responsible for business in Europe, an important market for Daikin, and also the Middle East and Africa, held a grand 50th anniversary celebration in October 2023 in Belgium, where its headquarters is located. JARN was invited to attend a joint media interview, which was held in conjunction with the event, with Noriyuki Inoue, chairman of the Board and chief global group officer, and Masatsugu Minaka, member of the Board and senior executive officer, to hear about Daikin Europe’s achievements over the past 50 years and future strategies focusing on the heat pump heating business.

Toshiba Carrier Gains Customers’ Confidence with Its Chillers

Toshiba Carrier became a part of Carrier last summer. About a year later, JARN interviewed Toru Kubo, president, HVAC Japan, Carrier, to hear about the company’s chiller business and positive changes during that time.

JARN ( J): How do you see the trends in the 2023 chiller market in Japan? Also, please tell us about the forecast for Toshiba Carrier’s modular chiller sales in 2023 compared with 2022.

Hitachi air365 Hybrid Is a Powerful Drawcard for Flexible Clean Heating

In September, Johnson Controls–Hitachi Air Conditioning launched Hitachi air365 Hybrid, an emissions-reducing residential heating, ventilation, and air conditioning (HVAC) dual fuel heat pump system. On this occasion, JARN interviewed Manuel de la Fuente, vice president (VP) and general manager (GM), Johnson Controls–Hitachi Air Conditioning, to hear about this innovative product.

JARN (J): Could you give us a brief introduction to Hitachi air365 Hybrid dual fuel residential HVAC systems?

Market

Panasonic Starts Operating Its New R&D Building in Malaysia Responsible for Developing Air Conditioning Equipment for ASEAN and Europe

Osaka, Japan – Panasonic Corporation today announced that its Heating & Ventilation A/C Company has recently started the operation of a new building, constructed at Panasonic Appliances Air-Conditioning R&D Malaysia Sdn. Bhd. (hereinafter referred to as PAPARADMY) in Malaysia. This new building is equipped with state-of-the-art facilities, including the Company's first multi-purpose laboratory for simultaneously testing water heaters and air conditioning equipment, designed to shorten the lead time for developing air conditioning equipment for the global market, mainly in ASEAN and Europe, and allowing it to accelerate development that meets local needs.

UK Government and Manchester City Council delegates visit the Daikin Technology and Innovation Center in Osaka, Japan

Brussels, December 7th, 2023 – the Greater Manchester Japan Steering Group including UK Government and Manchester City Council delegates visited Daikin Industries, Ltd. headquarters as well as Daikin’s global research and development hotspot, the Daikin Technology and Innovation Center (TIC), in Osaka, Japan.

Adveco: Innovation In Water Heating

Adveco has been awarded a Buildings & Facilities Management Innovation Award for its work in water heating for commercial buildings during 2023. To celebrate, we take a look at our approach that continues to deliver award-winning innovation more than 50 years after the company was first founded…

Product

Bosch to use generative AI in manufacturing

Stuttgart, Germany – Bosch is piloting generative AI and foundation models in manufacturing. In initial projects in two Bosch plants in Germany, generative AI creates synthetic images in order to develop and scale AI solutions for optical inspection and optimize existing AI models. Bosch expects that this will reduce the time needed for planning, launching, and ramping up AI applications from the current six to twelve months to just a few weeks. Following successful piloting, this service for generating synthetic data is to be offered to all Bosch locations.

ebm‑papst invests in Singapore and India as future Asia headquarters

ebm‑papst, a leading manufacturer of fans and motors headquartered in Mulfingen, Germany, is investing approximately one million EUR in the expansion and conversion of its Singapore location. The original headquarters of the Southeast Asia region will assume greater importance within the ebm‑papst Group and manage the entire Asia-Pacific and Middle East Asia region. The expansion of IT and production capacities in India is also planned. Within the context of the "Decoupling China Strategy,” ebm‑papst is thus strengthening its global presence in the rest of Asia and increasing the resilience of its supply chains. In China, ebm‑papst and its nearly 2,000 employees are focusing even more strongly on the Chinese market and its local customers.

Thermo King® Named Recipient of 2023 Top Software & Tech Award

Minneapolis, December 7, 2023 — Food Logistics, the only publication exclusively dedicated to covering the movement of product through the global cold food supply chain, and Supply & Demand Chain Executive, the only publication covering the entire global supply chain, named Thermo King as one of the winners of this year’s Top Software & Tech award for its newly released TracKing® Pro telematics solution.

Photo Report

Refcold India 2023 Showcases a Promising Industry

As the Indian economy is racing towards the US$ 5 billion mark, the future of the refrigeration industry looks very promising. It is estimated to grow at a compound annual growth rate (CAGR) of 19% during the next few years.
The fifth edition of Refcold India – the fourth physical edition – was organized at Chennai Trade Center, Chennai – the capital of the southern state of Tamil Nadu – from October 12 to 14. Chennai was selected as the venue as it is the largest seafood exporting port in India. Spread over an area of 3,153 m2, which makes it the largest refrigeration expo held in India so far, it had over 200 exhibitors and attracted over 12,000 visitors. In addition, the three days were packed with non-stop knowledge sharing sessions in the form of workshops and conferences.

AHR Expo Coming to Chicago at the Beginning of 2024

The next edition of AHR Expo will be held on January 22 to 24, 2024, at McCormick Place, Chicago, Illinois, the United States. For this edition, more than 1,600 exhibitors, over 50,000 attendees, and more than 370 speakers are expected.
AHR Expo brings together manufacturers and suppliers of all sizes and specialties to share ideas and showcase the future of heating, ventilation, air conditioning, and refrigeration (HVAC&R) technology. AHR Expo is co-sponsored by the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) and the Air Conditioning, Heating, and Refrigeration Institute (AHRI), and is held concurrently with ASHRAE’s Winter Conference.

134th Canton Fair Expands Its Scale and Reaches a New High

The 134th Canton Fair, China Import and Export Fair, was held in three phases: the first phase was on October 15 to 19, the second phase was on October 23 to 27, and the third phase was on October 31 to November 4, 2023.