Oilon: HVAC Industry Leader Goes With Environmentally Friendly Heat Pump Technology Developed in Finland

Rhea-AI Summary

Oilon, a Finnish energy technology company, has signed a collaboration agreement with Trane (NYSE: TT) to offer Trane Exergy Series heat pumps in Europe. These heat pumps provide heating capacities up to 120°C, replacing oil and gas boilers in various applications. The partnership promotes environmentally-friendly technologies and is seen as a significant step towards sustainable energy production. Oilon is expanding its industrial heat pump business, with aggressive growth targets anticipated to make it a core focus in the coming years.

Positive

• Collaboration with Trane to market environmentally friendly Exergy Series heat pumps in Europe.
• Expansion of Oilon's industrial heat pump business aligned with increasing European demand.
• New manufacturing plant in Kokkola enhances production capacity fourfold, supporting growth targets.

Negative

• None.

LAHTI, Finland--(BUSINESS WIRE)-- Oilon, the Finnish energy and environmental technology company, has signed a collaboration agreement with Trane^®, a leading global provider of indoor comfort solutions and services and a brand of Trane Technologies.

In November 2021, Oilon opened a new plant for manufacturing industrial heat pumps in Kokkola (Finland). The capacity of the new plant is four times higher than the existing one. (Photo: Business Wire)

As part of the agreement, Trane will offer in Europe the Trane Exergy Series heat pumps designed and manufactured in collaboration with Oilon. The Exergy Series units deliver heating capacity of up to 120 degrees Celsius and can replace oil and gas boilers in industrial process, buildings and district heating applications.

– "Hardly any companies have managed to develop environmentally friendly technologies capable of such high temperatures. Cooperation with one of the world's largest players in the industry will help us to promote this sustainable technology more and more widely," says Martti Kukkola, Chief Business Officer for Oilon's Industrial Heat Pumps and Chillers.

Heat pumps are indeed regarded as one of the most significant means of producing fossil-free energy in the process industry and energy companies.

– "The agreement is a great reward for the long-term work we have done for over a decade to develop carbon-neutral energy production technologies", Kukkola adds.

In November 2021, Oilon opened a new plant for manufacturing industrial heat pumps in Kokkola (Finland). The capacity of the new plant is four times higher than the existing one.

Moreover, it will further accelerate the development of the industrial heat pump business, where Oilon has seen a notable expansion in recent years: deliveries grew significant. At present, the greatest demand comes from the European market, the needs of which are met by cooperation with Trane.

– "We have aggressive growth targets in industrial heat pumps, which are expected to become Oilon's core business in a few years' time. With such prospects, the capacity of the new plant will only be enough for a couple of years," Kukkola reckons.

Contact:

Oilon is a family-owned, global energy and environmental technology company, founded in 1961. Oilon specialises in energy and environmental technology with focus on industrial heat pumps and chillers, ground source heat pumps, and burners and combustion systems. Oilon conducts continuous product development to improve energy efficiency, reduce emissions and create solutions based on renewable energy sources.

Oilon has a of €70 million turnover and employs 380 people. The company has production facilities in Finland, the United States, China and Russia, as well as sales offices in Brazil and Germany. Furthermore, Oilon runs an international sales network of 70 dealers.

About Trane

Trane – by Trane Technologies (NYSE: TT), a global climate innovator – creates comfortable, energy efficient indoor environments for commercial and residential applications. For more information, please visit www.trane.eu or www.tranetechnologies.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211215005409/en/

Martti Kukkola – Chief Business Officer

Industrial heat pumps and chillers

Oilon Oy

Tel. +358 3 85 761, Mob. +358 400 312 060

martti.kukkola@oilon.com

Source: Oilon

FAQ

What is the collaboration between Oilon and Trane about?

Oilon and Trane have signed a collaboration agreement to offer Trane Exergy Series heat pumps in Europe.

What heating capacity do the Exergy Series heat pumps provide?

The Exergy Series heat pumps deliver heating capacities of up to 120 degrees Celsius.

How will the collaboration impact Oilon's business?

The collaboration is expected to enhance Oilon's growth in the industrial heat pump market.

What is the significance of the new manufacturing plant opened by Oilon?

The new manufacturing plant in Kokkola has a production capacity four times greater than the previous facility.

When was the new manufacturing plant for industrial heat pumps opened?

The new plant was opened in November 2021.