STOCK TITAN

Danfoss A/S Joins the Carrier Alliance Supplier Program

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary

Carrier Global Corporation (NYSE: CARR) has announced a strategic long-term agreement with Danfoss, joining the Carrier Alliance program. Danfoss will supply components such as compressors and valves for Carrier's HVAC and Refrigeration portfolios, including Carrier-branded replacement compressors. This partnership aims to enhance technology and reduce environmental impact, notably through the use of advanced R32 refrigerant chillers that cut greenhouse gas emissions by up to 77%. The collaboration promises to optimize the supply chain and foster future innovations in energy efficiency.

Positive
  • Strategic agreement with Danfoss enhances Carrier's HVAC and Refrigeration portfolios.
  • Use of R32 refrigerant in chillers reduces greenhouse gas emissions by up to 77%.
  • Strengthens supply chain and promotes cost-saving opportunities.
Negative
  • None.

PALM BEACH GARDENS, Fla., Dec. 18, 2020 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), a leading global provider of healthy, safe and sustainable building and cold chain solutions, is proud to announce that Danfoss has joined the Carrier Alliance program and signed a strategic long-term agreement with Carrier. As part of this agreement, Danfoss will supply multiple components including compressors, valves, heat exchangers and drives across Carrier's HVAC and Refrigeration portfolios. The agreement also specifies that Danfoss will supply Carrier-branded replacement compressors. 

"We are excited to strengthen our strategic relationship with Danfoss with this expanded global long-term agreement and are pleased to welcome them as one of the newest Carrier Alliance suppliers," said Ed Dunn, Vice President, Supply Chain, Carrier. "Through the Alliance program, we are identifying the best of the best, a select group of suppliers that share our expansive geographic reach, breadth of offering, focus on quality and cost excellence, and commitment to developing high-efficiency solutions."

Carrier and Danfoss have collaborated for many years in Carrier's Refrigeration and HVAC segments, with a focus on enhancing technology and reducing the environmental impact of the components used in HVAC equipment. Most recently, Danfoss began supplying advanced technologies for Carrier's AquaSnap® scroll chiller and heat pump portfolio in Europe using R32 refrigerant. These chillers and heat pumps with R-32 reduce direct greenhouse gas emissions by up to 77% compared to the previous range using R-410A refrigerant. 

Designed to optimize and strengthen the supply chain and help drive cost savings, Carrier launched the Carrier Alliance program to help provide certainty, security and growth opportunities for Carrier and its key suppliers. Joining the Carrier Alliance program is a win-win for Carrier and Danfoss as it establishes Danfoss as a key supplier across multiple categories and paves the way for future opportunities to supply innovative technologies across Carrier's portfolio.

"We are excited to build upon our long relationship with Carrier by joining the Carrier Alliance Program," said Jürgen Fischer, President, Danfoss Climate Solutions. "We look forward to collaborating with Carrier to apply our HVAC technologies and solutions across the Carrier portfolio and bringing our innovations in energy efficiency to the market. Carrier and Danfoss are committed to providing sustainable solutions."

For more information, visit corporate.carrier.com/suppliers or follow Carrier on social media at @Carrier.

About Carrier 

Carrier Global Corporation is a leading global provider of healthy, safe and sustainable building and cold chain solutions. Since our founding, we've led in creating solutions that matter for people and our planet. Today, our portfolio includes industry-leading brands such as Carrier, Kidde, Edwards, LenelS2 and Automated Logic that offer innovative HVAC, refrigeration, fire, security and building automation technologies to help make the world safer and more comfortable for generations to come. For more information, visit www.corporate.carrier.com or follow Carrier on social media at @Carrier.

CARR-IR

 

Contact:

Danielle Canzanella


860-221-8457


Danielle.Canzanella@carrier.com

Cision View original content:http://www.prnewswire.com/news-releases/danfoss-as-joins-the-carrier-alliance-supplier-program-301195701.html

SOURCE Carrier Global Corporation

FAQ

What is the significance of the agreement between Carrier and Danfoss?

The agreement enhances Carrier's HVAC and Refrigeration offerings by integrating Danfoss components, aiming for improved energy efficiency and reduced environmental impact.

How much do the new chillers reduce greenhouse gas emissions?

The chillers using R32 refrigerant can reduce greenhouse gas emissions by up to 77% compared to previous models that used R-410A.

When was the agreement between Carrier and Danfoss announced?

The agreement was announced on December 18, 2020.

What is the stock symbol for Carrier Global Corporation?

The stock symbol for Carrier Global Corporation is CARR.

Carrier Global Corporation

NYSE:CARR

CARR Rankings

CARR Latest News

CARR Stock Data

67.27B
897.23M
6.66%
85.44%
1.43%
Building Products & Equipment
Air-cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip
Link
United States of America
PALM BEACH GARDENS