MODINE EMPOWERS FACILITY MANAGERS TO IMPROVE IAQ WITH NEW JETSON PRODUCT LINE

Rhea-AI Summary

MOD - Modine Expands HVAC Portfolio with Napps Technology Acquisition, Introducing Innovative Products for Commercial Facilities

Positive

• Expansion of product portfolio to address growing air quality needs in commercial facilities
• Acquisition of Napps Technology and Jetson product portfolio to empower facility managers with high-efficiency HVAC solutions
• Commitment to providing healthy, clean air in commercial facilities and addressing the need for healthy learning environments in public schools

Negative

• None.

Leading HVAC solutions provider expands HVAC portfolio to address growing air quality needs in commercial facilities

RACINE, Wis. , July 20, 2023 /PRNewswire/ -- Modine (NYSE: MOD), a technology leader in the HVAC industry, remains dedicated to providing healthy, clean air in commercial facilities. With the announcement of the Napps Technology acquisition, the company has introduced additional innovative products that will further empower facility managers and school leaders to equip their facilities with high-efficiency heating and cooling solutions.

"At Modine, we are committed to providing HVAC solutions that create excellent, healthy atmospheres across North America," said Jake Feldman, Vice President, General Manager of Indoor Air Quality for Modine Manufacturing Company. "We've done that inside K-12 classrooms for years thanks to our Airedale IAQ products. We continue to evolve year after year to address the overwhelming need for healthy learning environments in public schools, and the acquisition of Napps Technology is the next step in our evolution."

As part of the acquisition, Modine acquired the Jetson product portfolio, which includes modular air-cooled chillers and heat pumps, modular water-cooled chillers, packaged air-cooled chillers and heat pumps, water-cooled condensing units, air-cooled condensing units and split-system air-cooled chillers.

"By introducing the Jetson product line into our vast Airedale distribution network, we will be empowering facility owners and managers to install premium quality HVAC products by offering a variety of proven solutions," Feldman said. "This will not only be a benefit to K-12 schools, but it will also positively impact other high-end markets such as healthcare, light commercial, secondary education and hospitality."

The acquisition of Napps Technology is reminiscent of Modine's purchase of Airedale in 2005, a decision that put Modine in the spotlight for education HVACR solutions. Napps' commitment to exceeding complex efficiency and environmental standards also falls in line with Modine's overall purpose of "Engineering a Cleaner, Healthier World™." Over the next few months, the highly efficient and cost-effective Jetson product line will be merged into the Airedale by Modine™ portfolio.

"Climate change is a threat that continues to grow and affect us regularly," said Kimberly Raduenz, Manager, Strategic Marketing for the IAQ division at Modine. "Continuing to expand our portfolio to include more high-efficient products not only helps us lower our carbon footprint, but it also allows facility managers and owners to provide premium solutions that reduce energy consumption. This is how we continue to stay true to our purpose."

To learn more about Modine IAQ solutions, please visit https://www.modinehvac.com/.

About Modine 
At Modine, we are Engineering a Cleaner, Healthier World™. Building on more than 100 years of excellence in thermal management, we provide trusted systems and solutions that improve air quality and conserve natural resources. More than 11,000 employees are at work in every corner of the globe, delivering the solutions our customers need, where they need them. Our Climate Solutions and Performance Technologies segments support our purpose by improving air quality, reducing energy and water consumption, lowering harmful emissions and enabling cleaner running vehicles and environmentally-friendly refrigerants. Modine is a global company headquartered in Racine, Wisconsin (U.S.), with operations in North America, South America, Europe and Asia. For more information about Modine, visit www.modine.com.

Media Contact: Heather Ripley  
                         (865) 977-1973  
                         hripley@ripleypr.com 

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SOURCE Modine

FAQ

What is the latest announcement from Modine (MOD)?

Modine has expanded its HVAC portfolio with the acquisition of Napps Technology, introducing innovative products for commercial facilities.

What products were acquired as part of the Napps Technology acquisition?

Modine acquired the Jetson product portfolio, including modular air-cooled chillers and heat pumps, water-cooled chillers, and more.

How will the acquisition impact facility owners and managers?

The acquisition will empower facility owners and managers to install premium quality HVAC products, offering a variety of proven solutions for K-12 schools, healthcare, light commercial, secondary education, and hospitality.

What is Modine's overall purpose in expanding their portfolio?

Modine's purpose is to 'Engineering a Cleaner, Healthier World™,' and the expansion of their portfolio aims to address climate change by providing high-efficient products that reduce energy consumption.

What is the next step for the Jetson product line?

The highly efficient and cost-effective Jetson product line will be merged into the Airedale by Modine™ portfolio over the next few months.