Lennox International Inc. Becomes First to Complete the U.S. Department of Energy's Cold Climate Heat Pump Technology Challenge

Rhea-AI Summary

Lennox International Inc. (LII) has achieved a significant milestone as the first HVAC manufacturer to meet the objectives of the U.S. Department of Energy's Cold Climate Heat Pump Technology Challenge. This recognition highlights Lennox's commitment to innovation and energy efficiency, potentially allowing homeowners to save up to $500 annually on utility bills. The initiative aims to enhance heating and cooling solutions for colder climates while significantly reducing greenhouse gas emissions. Lennox's efforts align with their long-standing dedication to sustainability and environmentally friendly products.

Positive

• First HVAC manufacturer to meet DOE's Cold Climate Heat Pump Challenge.
• Potential savings of $500 per year for homeowners on utility bills.
• Ongoing commitment to energy efficiency and sustainability.

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• None.

Lennox leads the industry as the first HVAC manufacturer to achieve the objectives outlined in the DOE's Cold Climate Heat Pump Technology Challenge

RICHARDSON, Texas, June 21, 2022 /PRNewswire/ -- Lennox International Inc. (LII) was recognized by the U.S. Department of Energy (DOE) and Secretary of Energy Jennifer M. Granholm for being the first HVAC manufacturer to achieve the objectives outlined in the DOE's Cold Climate Heat Pump Technology Challenge. This accomplishment reinforces Lennox's 127-year history of producing the most efficient comfort solutions that are both environmentally sustainable and affordable for homeowners.

"Our cold climate heat pump represents Lennox's dedication to accelerating environmental sustainability through ongoing product innovation, advances in efficiency gains, and greenhouse gas emission reductions," said Alok Maskara, Chief Executive Officer at Lennox International. "We pride ourselves on designing, manufacturing, and delivering the most efficient climate control products on the market and are eager to move forward in this challenge alongside the DOE and our industry partners."

Homeowners in colder climates traditionally rely on fossil fuel heating to warm their homes. The cold climate heat pump revolutionizes the HVAC industry by providing a solution that offers comfortable cooling and warmth, while significantly lowering greenhouse gas (GHG) emissions. As part of The Initiative for Better Energy, Emissions and Equity (E3 Initiative), the Cold Climate Heat Pump Technology Challenge was created to accelerate cold climate heat pump advancements within the industry and accomplish the greater goal of making affordable, clean and efficient heating and cooling solutions easily available across North America.

"DOE's Cold Climate Heat Pump Challenge calls on American businesses to make heat pumps more effective at heating and cooling, more efficient in their energy use, and more attractive options for consumers—so more households can unlock $500 in savings each year on utility bills. With this newest prototype, Lennox has answered that call," said U.S. Secretary of Energy Jennifer M. Granholm. "Tapping into the emerging clean energy market is a huge economic opportunity that will bring a bolstered manufacturing sector, good paying jobs, and a brighter, cleaner future to Texas and communities across America." 

For 127 years, Lennox has been an innovation leader. Lennox leads the industry in energy efficiency and innovative climate control solutions, making the Challenge a natural fit with the company's legacy of innovation. Prior to the Challenge, the Lennox Advanced Technology team was already working on the development of a cold climate heat pump to add to its extensive line of best-in-class heat pump products already on the market. This demonstrates Lennox's ongoing commitment to energy efficiency and environmentally friendly products.

In addition to designing and producing innovative industry-leading products, Lennox's emission reduction targets have been approved by the Science Based Target initiative (SBTi) – a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The initiative drives ambitious climate action in the private sector in line with the goals of the Paris Agreement to prevent the worst impacts of climate change.  

To learn more about Lennox, its residential products and its pursuit of delivering consistently clean, perfect air, visit: www.Lennox.com/Residential.  

About Lennox International 
Lennox International Inc. is a global leader in energy-efficient climate-control solutions. Dedicated to sustainability and creating comfortable and healthier environments for our residential and commercial customers while reducing their carbon footprint, we lead the field in innovation with our air conditioning, heating, indoor air quality, and refrigeration systems. Lennox International stock is listed on the New York Stock Exchange and traded under the symbol "LII". Additional information on Lennox International is available at www.lennoxinternational.com.

Media Contact: Phil Gee, phil.gee@lennoxintl.com

 

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SOURCE Lennox International Inc.

FAQ

What recent achievement did Lennox International Inc. (LII) accomplish?

Lennox International Inc. became the first HVAC manufacturer to complete the U.S. Department of Energy's Cold Climate Heat Pump Technology Challenge.

How much can homeowners save annually on utility bills with Lennox's new heat pump technology?

Homeowners can save up to $500 each year on utility bills with Lennox's new cold climate heat pump.

What is the significance of Lennox's achievement in the HVAC industry?

Lennox's achievement underscores their commitment to energy efficiency and innovation in creating environmentally sustainable heating and cooling solutions.

When did Lennox International Inc. achieve this milestone?

Lennox achieved this milestone on June 21, 2022.

What is the stock symbol for Lennox International Inc.?

The stock symbol for Lennox International Inc. is LII.