Marking a Pivotal Step in Transformation Journey, Carrier Integrates its EcoEnergy Insights™ and Abound™ Digital Solutions

Rhea-AI Summary

Carrier Global (NYSE: CARR) has announced the integration of its EcoEnergy Insights™ business into Carrier Abound™, marking a significant step in the company's transformation journey. This strategic move aligns EcoEnergy Insights' suite of solutions, including the rebranding of CORTIX™, under the Carrier Abound umbrella. The integration aims to offer customers a comprehensive suite of digital solutions and digitally enabled services focused on sustainability, health and well-being, and asset management.

EcoEnergy Insights, known for its AI and IoT solutions in building and equipment operations, has helped customers save over 6 billion kWh globally over nearly 15 years. This energy savings is equivalent to the greenhouse gas emissions from about one million gasoline-powered vehicles driven for a year. By leveraging Carrier's expertise in energy-efficient HVAC systems, Carrier Abound seeks to enhance operational efficiencies and enable smarter, more sustainable building management.

Positive

• Integration of EcoEnergy Insights into Carrier Abound strengthens Carrier's position in intelligent climate and energy solutions
• EcoEnergy Insights' solutions have helped customers save over 6 billion kWh globally
• Comprehensive suite of digital solutions aims to improve sustainability, health, and asset management outcomes

Negative

• None.

Insights

Technology Analyst

This integration of EcoEnergy Insights into Carrier Abound represents a significant strategic move for Carrier. By consolidating its digital solutions under a single brand, Carrier is positioning itself to compete more effectively in the intelligent building management space. The integration should streamline operations, potentially leading to cost synergies and a more unified customer experience.

The emphasis on AI and IoT solutions for building operations aligns with the growing trend towards smart, energy-efficient buildings. With reported energy savings of over 6 billion kWh globally, equivalent to the emissions of nearly 1 million cars driven for a year, Carrier is demonstrating tangible environmental impact. This could appeal to environmentally conscious investors and customers, potentially driving future growth.

However, the immediate financial impact of this rebranding is likely to be The real test will be how effectively Carrier can leverage this consolidated platform to drive new sales and market share in the competitive smart building sector. Investors should monitor future earnings reports for signs of increased traction in digital solutions and services.

Sustainability Expert

Carrier's integration of EcoEnergy Insights into Abound signifies a strong commitment to sustainability in the built environment. The reported energy savings of 6 billion kWh is substantial, equating to approximately 0.15% of the U.S. annual electricity consumption. This demonstrates Carrier's potential to make a meaningful impact on global energy efficiency goals.

The move to consolidate under the Abound brand could enhance Carrier's ability to offer comprehensive sustainability solutions. By combining HVAC expertise with advanced analytics and AI, Carrier is well-positioned to address the complex challenges of building decarbonization and energy optimization.

However, the true test will be in the execution. Carrier will need to demonstrate that this integration leads to even greater energy savings and helps customers achieve their sustainability targets more effectively. Investors should look for concrete metrics in future reports, such as year-over-year increases in energy savings, customer adoption rates of digital solutions and the impact on Carrier's own carbon footprint reduction goals.

Carrier aligns its EcoEnergy Insights' suite of solutions under Carrier Abound to accelerate positioning as a global leader in intelligent climate and energy solutions 

PALM BEACH GARDENS, Fla., Oct. 7, 2024  /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, announced today that its EcoEnergy Insights™ business will now go to market globally as Carrier Abound™. EcoEnergy Insights, a leading provider of Artificial Intelligence (AI) and Internet of Things (IoT) solutions for building and equipment operations will also re-badge its CORTIX™ suite of solutions as Abound solutions. With these changes, Carrier will now offer its customers a comprehensive and cohesive suite of digital solutions and digitally enabled services to achieve outcomes in sustainability, health and well-being, and asset management. 

"This integration marks a pivotal step in Carrier's transformation journey to become a global leader in intelligent climate and energy solutions," said Mead Rusert, Vice President, Building Technologies, Carrier. "Bringing our solutions and expertise into one group accelerates our efforts and enhances customer service − further demonstrating our commitment to developing solutions for sustainable building operations."

For nearly 15 years, EcoEnergy Insights has been recognized for its award-winning solutions that have helped customers save over 6 billion kWh globally.¹ This energy savings is equivalent to the greenhouse gas emissions produced by nearly one million gasoline-powered passenger vehicles driven for an entire year.²  

Leveraging Carrier's expertise in energy-efficient HVAC systems, Carrier Abound aims to enhance operational efficiencies, drive customer engagement and enable smarter, more sustainable building management. The solutions are designed to create value through a combination of innovative technology, advanced analytics and advisory services, ultimately helping customers achieve their sustainability goals.

¹ Calculated to the International Performance Measurement and Verification Protocol, 2011 through 2024.
² Equivalency calculation per U.S. EPA Greenhouse Gas Equivalencies Calculator.

About Carrier
Carrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating solutions that matter for people and our planet 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 Carrier on social media at @Carrier.

Contact: Shawn Menezes
 +91 (0) 80 49045454
 shawn.menezes@carrier.com

 

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SOURCE Carrier Global Corporation

FAQ

What changes did Carrier (CARR) announce regarding EcoEnergy Insights?

Carrier announced that EcoEnergy Insights will now go to market globally as Carrier Abound, and its CORTIX suite of solutions will be re-badged as Abound solutions.

How much energy savings has EcoEnergy Insights, now part of Carrier Abound (CARR), achieved for its customers?

EcoEnergy Insights has helped customers save over 6 billion kWh globally, equivalent to the greenhouse gas emissions from about one million gasoline-powered vehicles driven for a year.

What are the main focus areas of Carrier Abound's (CARR) digital solutions?

Carrier Abound's digital solutions focus on achieving outcomes in sustainability, health and well-being, and asset management for customers.

How long has EcoEnergy Insights, now integrated into Carrier Abound (CARR), been operating?

EcoEnergy Insights has been recognized for its award-winning solutions for nearly 15 years.