Carrier Secures 1,000 BluEdge Service Contracts in First Six Months, Expands Geographic Coverage

Rhea-AI Summary

Carrier Global Corporation (NYSE: CARR) announced the successful launch of its BluEdge service platform, achieving 1,000 signed service agreements within six months. The service, originally available in North America and Asia, now extends to Commercial HVAC customers in the Middle East and Europe. Carrier anticipates a 30% conversion rate in Commercial HVAC this year, driven by tailored service offerings. Additionally, the company completed a pilot for its Condition Based Maintenance program, boasting a 30% reduction in equipment alarms and plans to expand it across 10,000 stores in Europe by the end of 2023.

Positive

• Achieved 1,000 service agreements for the BluEdge platform in six months.
• BluEdge service platform expanded to Middle East and Europe.
• Anticipates a 30% conversion rate in Commercial HVAC this year.
• Condition Based Maintenance pilot reduced equipment alarms by 30%.

Negative

• None.

PALM BEACH GARDENS, Fla., Dec. 17, 2020 /PRNewswire/ -- Carrier Global Corporation's (NYSE: CARR) BluEdge service platform continues to expand its reach with 1,000 signed service agreements in just six months and expanded geographic reach. The global, best-in-class service program that was originally launched in North America and Asia, is now available to Commercial HVAC customers in the Middle East and Europe. Through a deep understanding of customer needs and investments in cutting edge digital tools, BluEdge can help customers achieve enhanced equipment efficiency and performance – key components of Carrier's Healthy Buildings Program and Healthy, Safe, Sustainable Cold Chain Program. Carrier Global Corporation is a leading global provider of healthy, safe and sustainable building and cold chain solutions.

"We are thrilled with the positive customer response to our BluEdge platform and honored to hit this milestone so quickly," said Ajay Agrawal, Senior Vice President, Strategy & Services, Carrier. "The BluEdge tiered offerings are resonating with the customers since we designed them to meet their specific needs. BluEdge helps customers achieve optimal equipment performance and act on data-driven insights, which is becoming increasingly important as we look to the future. As a result, we are on track to hit a 30% conversion rate in Commercial HVAC this year." 

The Carrier team continues to innovate new ways for BluEdge to reach customers and improve outcomes. Carrier Commercial Refrigeration, in partnership with EcoEnergy Insights, also a Carrier company, recently completed a successful pilot of its new Condition Based Maintenance (CBM) program that uses predictive AI-driven algorithms to proactively service refrigeration equipment in retail food stores. CBM is aimed at improving overall customer satisfaction levels by reducing equipment downtime. The pilot resulted in a 30% reduction in alarms related to equipment issues or breakdowns and a double-digit improvement in equipment uptime. Based on the pilot program's results, Carrier plans to expand this program to 10,000 stores across Europe by the end of 2023.

Central to BluEdge is a tiered-service model that provides customers with a range of dynamic options to meet the needs of their businesses. These tiers of service include:

• Core. Customers benefit from as-needed expert service to help ensure peak equipment performance and longevity.
• Enhance. Customers can customize on-demand and value-added services, such as multi-year service agreements, preventive maintenance and remote monitoring.
• Elite. Customers who want complete peace of mind can choose this comprehensive solution that can help optimize performance, and help maximize uptime and minimize cost.

For more information on the BluEdge service platform, visit www.corporate.carrier.com/BluEdge.

About Carrier
As the leading global provider of healthy, safe and sustainable building and cold chain solutions, Carrier Global Corporation is committed to making the world safer, sustainable and more comfortable for generations to come. From the beginning, we've led in inventing new technologies and entirely new industries. Today, we continue to lead because we have a world-class, diverse workforce that puts the customer at the center of everything we do. For more information, visit www.Corporate.Carrier.com or follow us on social media at @Carrier.

CARR-IR

Contact:	Danielle Canzanella
	561-365-1101
	Danielle.Canzanella@Carrier.com

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SOURCE Carrier Global Corporation

FAQ

What is the significance of Carrier's BluEdge service platform?

Carrier's BluEdge service platform has secured 1,000 service agreements in its first six months, showcasing its rapid acceptance and expansion, particularly in Europe and the Middle East.

How does Carrier's Condition Based Maintenance program enhance operations?

The Condition Based Maintenance program employs predictive AI algorithms to reduce equipment issues, resulting in a 30% reduction in alarms and improved uptime, planned for expansion to 10,000 stores in Europe.

What are the expected results from Carrier's service agreements?

Carrier expects to achieve a 30% conversion rate in Commercial HVAC services this year, indicating strong customer engagement and demand.

In which regions has Carrier expanded its service offerings?

Carrier has expanded its BluEdge service offerings to the Middle East and Europe, enhancing its global presence.