Trane Technologies and the U.S. Department of Energy Partner to Advance Building Decarbonization in New Heat Pump Technology Challenge
08 May 2024 - 8:30PM
Business Wire
Following its industry-leading performance in
the DOE’s Residential Cold Climate Heat Pump Challenge, company
brings its expertise to commercial heat pump challenge
Trane Technologies (NYSE: TT), a global climate innovator, today
announced its participation in the U.S. Department of Energy’s
(DOE) Commercial Building Heat Pump Technology Challenge. This new
initiative is designed to advance the adoption of cost-effective,
next-generation heat pump rooftop units and cut carbon emissions.
Heat pump rooftop units can reduce greenhouse gas emissions and
energy costs by up to 50% compared with conventional rooftop units
using natural gas heating.
Partnering with the DOE and its national laboratories to create
prototypes, test product performance and durability and conduct
field trials, Trane Technologies will leverage its proven
innovation expertise to develop new low-emissions heat pump rooftop
units. In line with the Challenge’s advanced technology
specifications, these heat pumps will be designed to help
organizations meet their energy efficiency needs and
decarbonization goals.
“As the urgent need for clean technologies in addressing climate
change becomes increasingly clear, we are proud to partner with the
DOE in transforming the way the world heats and cools buildings,
while dramatically reducing energy use and carbon emissions in the
process,” said Holly Paeper, president, Commercial HVAC Americas,
Trane Technologies. “Together, we can revolutionize the industry,
reduce the carbon footprint of our communities and increase energy
efficiency with more sustainable, cost-effective solutions.”
“As an inaugural partner in the Better Buildings Commercial Heat
Pump Accelerator, Trane Technologies is demonstrating a commitment
to leadership and collaboration,” said Maria Vargas, Director of
the DOE’s Better Buildings Initiative. “We are thrilled to work
together on this important initiative to drive greater energy
efficiency and decarbonization in our nation’s buildings.”
According to the DOE, the U.S. spends approximately $800 billion
each year to power buildings, manufacturing plants and homes. On
average, between 20% and 30% of the nation’s energy is wasted,
presenting a significant opportunity to increase energy efficiency.
With a goal to bring more efficient and affordable rooftop heat
pump technologies to market as soon as 2027, the Challenge has the
potential to cut both emissions and energy costs in half when
compared to natural gas-fueled heat pumps. If deployed at scale,
American businesses and commercial entities could save $5 billion
annually on utility bills.
Trane Technologies also participated in the DOE’s Residential
Cold Climate Heat Pump Challenge, during which the company’s Trane®
prototype performed in temperatures as low as negative 23 degrees
Fahrenheit – surpassing the mandatory negative 20 degrees
Fahrenheit DOE requirement. Following nearly two years of field
trials, Trane’s prototype continues to run in extremely cold
temperatures, resulting in improved comfort while delivering
approximately 15% energy savings to the homeowners.
Through bold, industry-leading action and innovation, Trane
Technologies is advancing its 2030 Sustainability Commitments,
including the Gigaton Challenge to reduce customer emissions by a
billion metric tons and its pledge to reach net-zero carbon
emissions by 2050.
About Trane Technologies
Trane Technologies is a global climate innovator. Through our
strategic brands Trane® and Thermo King®, and our portfolio of
environmentally responsible products and services, we bring
efficient and sustainable climate solutions to buildings, homes,
and transportation. Learn more at tranetechnologies.com.
About Trane
Trane – by Trane Technologies (NYSE: TT), a global climate
innovator – creates comfortable, energy-efficient indoor
environments for commercial and residential applications. For more
information, please visit www.trane.com.
This news release includes “forward-looking statements” within
the meaning of securities laws, which are statements that are not
historical facts, including statements that relate to innovations
to develop cost-effective decarbonization solutions, and our
sustainability commitments and the impact of these commitments.
These forward-looking statements are based on our current
expectations and are subject to risks and uncertainties, which may
cause actual results to differ materially from our current
expectations. Factors that could cause such differences can be
found in our Form 10-K for the year ended December 31, 2023, as
well as our subsequent reports on Form 10-Q and other SEC filings.
New risks and uncertainties arise from time to time, and it is
impossible for us to predict these events or how they may affect
the Company. We assume no obligation to update these
forward-looking statements.
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Media Contact: Travis Bullard +1-919-802-2593
Media@tranetechnologies.com
Investors Contact: Zachary Nagle +1-704-990-3913
InvestorRelations@tranetechnologies.com
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