Hillphoenix Portfolio of Natural Refrigeration Solutions Will Enable Food Retailers to Meet Recent California Air Resource Board Regulations

Rhea-AI Summary

The California Air Resource Board (CARB) enacted the strictest regulations on hydrofluorocarbons (HFCs) for refrigeration, affecting supermarkets and industrial refrigeration in California from January 2022. Hillphoenix, a Dover brand, offers eco-friendly products to help businesses comply with these regulations. The company has invested in sustainable CO2 refrigeration technologies, acquiring Advansor DE, and has over 1,000 North American installations. Hillphoenix has helped eliminate over 2.5 billion pounds of harmful emissions in two decades, aligning with its sustainability goals.

Positive

• Hillphoenix is positioned to benefit from new California regulations, potentially boosting market demand for its eco-friendly refrigeration solutions.
• The recent acquisition of Advansor DE strengthens Hillphoenix's portfolio in sustainable refrigeration technologies.
• Over 1,000 North American installations of CO2 systems indicate strong market acceptance and potential revenue growth.

Negative

• None.

DOWNERS GROVE, Ill., Dec. 17, 2020 /PRNewswire/ -- The California Air Resource Board (CARB) enacted regulations on December 14 that are expected to significantly impact the supermarket and industrial refrigeration industry. These regulatory requirements on artificial refrigerants known as hydrofluorocarbons or HFCs are the most stringent implemented in the United States to date. Hillphoenix's portfolio of environmentally friendly products are designed to enable businesses to become compliant with these types of new regulations.

The new rules specifically affect commercial and industrial, stationary refrigeration units in California like the ones found in grocery stores and other food retail establishments. The regulations apply to new refrigeration equipment and retrofits and take effect at the beginning of January 2022.

"This landmark decision by CARB will have a lasting impact on the industry and likely have far-reaching influence on regulatory decisions across the United States and beyond, as requirements similar to California's could potentially become the adopted standards," stated Scott Martin, Director of Research, Industry Relations and Development, Dover Food Retail and Hillphoenix. "Hillphoenix, in keeping with the sustainability focus of our parent company Dover, is committed to developing products that help our customers meet their sustainability goals, run their operations more efficiently and satisfy evolving regulatory and environmental standards. With our leading portfolio of natural refrigeration solutions, Hillphoenix is well positioned to provide innovative and environmentally friendly products and an efficient path to compliance for our customers."

Hillphoenix has invested in a broad portfolio of sustainable technologies and refrigeration solutions to satisfy the customer demand driven by evolving regulatory requirements, such as the new regulations in California. Investments include the acquisition of Advansor DE in Europe, a leader in carbon dioxide (CO2) technology research and development in sustainable refrigeration systems.  Natural refrigeration solutions like CO2 have a lower global warming potential (GWP) than traditional artificial refrigerants. Hillphoenix recently opened a new facility dedicated to this business line that will be a springboard for CO2 leadership in Europe and North America. To date, Advansor has over 7,000 installations of CO2 systems in Europe.

"Advansor is a world leader in natural refrigeration technologies, and our technology uses CO2 in refrigeration to lessen the product's contribution to global warming," stated Kristian Breitenbauch, Managing Director, Advansor. "We are continuously innovating to improve environmental outcomes for our customers."

U.S. manufacturing at Hillphoenix is focused on providing a wide variety of CO2 systems with North American installations exceeding 1,000 as many major retailers have committed to making the technology switch.

"Hillphoenix is a pioneer in designing environmentally sustainable refrigeration products for the industry," said Martin. "With improvements in alternative refrigerants and energy efficiency, Hillphoenix has helped remove over 2.5 billion pounds of harmful emissions from customer operations in the last two decades and delivered thousands of natural refrigeration solutions to food retailers. We remain committed to supporting the reduction of harmful emissions to help our customers succeed in the marketplace and reduce their environmental burden."

About Hillphoenix:
Hillphoenix branded products and services deliver advanced design and manufacturing of commercial refrigerated display cases and specialty products along with commercial and industrial refrigeration systems and integrated power distribution systems. Training, design, energy and aftermarket services are available through the Hillphoenix Learning and Design Centers and The AMS Group. For more information visit www.hillphoenix.com, or call 800-283-1109.

About Dover Food Retail:
Dover Food Retail, part of Dover Corporation with headquarters in Conyers, Georgia, is the partner to customers seeking to create unique food experiences. Employing the capabilities of our industry-leading brands, Anthony and Hillphoenix, we are able to provide insight and a comprehensive portfolio of innovative solutions that enables our customers to sell more food, more profitably. Our ability to evolve with the ever-changing market demands is driven by our passion for understanding our customers' business and providing them with the best quality products and services they need to succeed both today and in the future. Our focused, forward-thinking approach, combined with the strength of our brands, sets the stage for streamlined product development, a broader product portfolio, and cutting-edge technology resulting in redefining what is possible for customers in the food retail value chain.

About Dover:
Dover is a diversified global manufacturer and solutions provider with annual revenue of approximately $7 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Fueling Solutions, Imaging & Identification, Pumps & Process Solutions and Refrigeration & Food Equipment. Dover combines global scale, operational agility, world-class engineering capability and customer intimacy to lead the markets we serve. Recognized for our entrepreneurial approach for over 60 years, our team of over 23,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV." Additional information is available at dovercorporation.com.  

Investor Contact:
Andrey Galiuk
Vice President – Corporate Development and Investor Relations
(630) 743-5131
agaliuk@dovercorp.com

Media Contact:
Adrian Sakowicz
Vice President – Communications
(630) 743-5039
asakowicz@dovercorp.com 

View original content to download multimedia:http://www.prnewswire.com/news-releases/hillphoenix-portfolio-of-natural-refrigeration-solutions-will-enable-food-retailers-to-meet-recent-california-air-resource-board-regulations-301195547.html

SOURCE Dover

FAQ

What are the new refrigeration regulations enacted by CARB affecting DOV?

The new regulations, effective January 2022, impose strict limits on the use of hydrofluorocarbons (HFCs) in refrigeration systems in California.

How is Hillphoenix, part of DOV, addressing these new regulations?

Hillphoenix offers a portfolio of natural refrigeration solutions that comply with CARB's regulations, aiming to help businesses meet sustainability goals.

What is the significance of Advansor DE acquisition for DOV?

The acquisition enhances Hillphoenix's expertise in sustainable refrigeration, particularly in CO2 technology, supporting compliance with stricter regulations.