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Trane Technologies plc (symbol: TT) is a leading global producer in the climate control and transportation refrigeration industry. The company manufactures and services a wide variety of HVAC (Heating, Ventilation, and Air Conditioning) systems for both commercial and residential use. Under its prominent brands, including Trane, American Standard, and Thermo King, Trane Technologies offers solutions that ensure comfort, efficiency, and sustainability.
Headquartered in Ireland, Trane Technologies generates approximately $18 billion in annual revenue, with North America accounting for over 70% of its sales. About 70% of the company's revenue comes from equipment sales, while parts and services contribute the remaining 30%.
The company is at the forefront of innovation, particularly in leveraging artificial intelligence (AI) to enhance the efficiency and performance of its climate control systems. For instance, the Trane® Autonomous Control powered by BrainBox AI® uses AI to optimize HVAC systems automatically, requiring no additional hardware. This is just one example of how Trane Technologies is leading the way in developing smarter, more efficient technologies.
Trane Technologies is deeply committed to sustainability, aiming to reduce its carbon footprint and enhance the energy efficiency of its products. Recent initiatives include the development of advanced climate control systems that can measure and respond to various environmental indicators like humidity and air quality, thanks to sophisticated AI algorithms. This not only helps in maintaining indoor comfort but also supports the broader goal of environmental sustainability.
The company's innovative strategies extend to its partnerships and collaborations. Trane Technologies works with a range of industries to integrate its advanced climate solutions, thereby broadening its impact and market reach. They also invest in future technologies to ensure their products remain adaptable and relevant as the pace of technological advancement accelerates.
Financially, Trane Technologies remains robust, continuously investing in R&D to maintain its competitive edge. The company's strong engineering expertise and commitment to innovation position it well for sustained growth and profitability.
In summary, Trane Technologies plc is a major player in the HVAC and transportation refrigeration industry, known for its innovative, sustainable, and efficient climate control solutions. It continues to lead the market through its commitment to technological advancement and sustainability.
Trane Technologies has announced a commitment to reduce embodied carbon by 40% by 2030, an industry-first initiative aligned with global climate goals. This expansion of their 2030 Sustainability Commitments builds on their momentum in sourcing sustainable solutions like low-carbon steel. The company aims to address both operational and embodied carbon in buildings, which are responsible for nearly 40% of global energy-related carbon emissions.
To achieve this goal, Trane Technologies is collaborating with suppliers to reduce carbon intensity across the value chain, focusing on materials used in buildings and building equipment such as steel, aluminum, copper, and refrigerants. The company emphasizes the importance of transparency, standardized approaches, and efficient measurement of embodied carbon. This commitment aligns with their culture of sustainability and the actions taken daily to deliver on their promises.
Trane Technologies (NYSE: TT), a global climate innovator, has announced a groundbreaking commitment to reduce embodied carbon by 40% by 2030. This industry-first initiative aims to lower the carbon footprint of buildings, which currently account for 40% of global energy-related carbon emissions. The company will focus on partnering with suppliers of materials used in buildings and building equipment, including steel, aluminum, copper, and refrigerants.
This new commitment aligns with guidance from global non-profit building sector organizations and builds upon Trane Technologies' existing 2030 Sustainability Commitments. These include the Gigaton Challenge, which pledges to reduce customer greenhouse gas emissions by 1 billion metric tons within a decade. The company has also committed to becoming net-zero by 2050, with its emissions reduction targets validated by the Science Based Targets Initiative (SBTi).
Trane Technologies (TT) has partnered with Pure Harvest Smart Farms to install the UAE's first sustainable, electrified cooling and heating plant in a desert greenhouse. The project aims to support local food production and increase food security in the UAE, which currently imports 90% of its food. The solution includes:
- Trane heat pumps and centrifugal chillers using near-zero GWP R-1233zd refrigerant
- Chiller and heat pump control and optimizing systems
- Expected reduction of 8293 metric tons of carbon per year
- Lower system water usage
- Reduced food loss and transportation pollution
This high-tech greenhouse maintains a controlled environment for growing produce in extreme desert conditions, with temperatures ranging from 60°F to over 120°F. The project demonstrates the potential for sustainable agriculture in challenging environments and aligns with Trane Technologies' environmental goals.
Trane Technologies has released the latest episode of its Healthy Spaces Podcast, featuring a discussion on the importance of strategic communications in advancing sustainability initiatives. Hosted by Dominique Silva and Scott Tew, the episode includes insights from Suzanne Shelton of Shelton Group and Carrie Ruddy, Chief Communications and Marketing Officer at Trane Technologies.
The conversation highlights the role of authentic storytelling in making sustainability relatable and impactful. Key topics include addressing climate change concerns, using plain language to communicate effectively, and embedding sustainability in business strategies. The episode is available on platforms like Apple Podcasts, Spotify, and YouTube.
Listeners are encouraged to share their stories on how they are building healthy spaces in their organizations or communities. Trane Technologies emphasizes that every job is a sustainability job and aims to showcase innovative approaches to creating sustainable environments.
Team Air Distributing, backed by Kian Capital, has been awarded new territories in Northern Georgia and Metro Atlanta by American Standard, a division of Trane Technologies (NYSE: TT). This expansion includes opening six new branch locations in 2025, adding over 85 new employees, and bringing the company's total to 300+ employees across 17 branches. This marks Team Air's second territory award in less than a year, following their late 2023 expansion into Kentucky, Southern Indiana, and Illinois.
The move into Atlanta, one of the largest HVAC markets in the US, is expected to drive significant growth for Team Air. The company, a seven-time recipient of the American Standard Pinnacle Award, aims to become the leading HVAC-focused distributor in the Southeast and lower Midwest. Team Air is actively seeking partnerships with businesses supplying wholesale residential and commercial equipment, parts, and supplies in HVAC, plumbing, and electrical sectors.
Trane Technologies (NYSE:TT), a global climate innovator, has been recognized for workplace excellence, culture, and sustainability by TIME, PEOPLE, and Fortune. The company secured spots on TIME's World's Best Companies list, PEOPLE's Companies That Care list, and ranked 5th on Fortune's Best Workplaces in Manufacturing and Production.
CEO Dave Regnery expressed pride in fostering a culture that values innovation, growth, and prioritizes employee well-being and environmental sustainability. Trane Technologies has also been recognized by Fast Company, the Disability Equality Index, and 50/50 Women on Boards, among others.
The company is advancing its 2030 Sustainability Commitments, including the Gigaton Challenge, and was the first in its industry to receive validation from the Science Based Targets Initiative for its emissions reduction targets. Trane Technologies is also committed to uplifting communities through inclusive approaches and focus on education and career development.
Mairéad Magner, Chief Human Resources Officer at Trane Technologies (TT), discusses how the company's culture of impact drives growth for employees, the company, and communities. TT's purpose, 'to boldly challenge what's possible for a sustainable world', is embedded in employee performance objectives. The company's Employee Resource Groups have expanded globally, adding 800 new members in 2023. TT launched 98 new products in 2023, advancing their Gigaton Challenge to reduce customer emissions. The company is also expanding hiring practices by removing degree requirements for certain roles and launching the Trane Technician Apprenticeship Program to address the skilled labor gap.
The latest episode of the Healthy Spaces Podcast features Emilio Tenuta, Chief Sustainability Officer at Ecolab, discussing the important role of water stewardship in corporate sustainability strategies. Hosted by Dominique Silva and Scott Tew from Trane Technologies, the conversation highlights how climate change impacts water resources and the importance of integrating water management into climate action plans. Tenuta emphasizes the need for industries to collaborate on innovative solutions, citing initiatives like the Water Resilience Coalition and California Water Resilience Initiative. Ecolab's 2023 Watermark Study reveals consumer concerns over water scarcity and holds businesses accountable for water conservation. The episode underscores the necessity of public-private partnerships to address global water challenges.
Acepodia (6976:TT) has entered a strategic clinical collaboration with Pfizer Ignite to accelerate the development of its Antibody-Cell Conjugation (ACC) platform for autoimmune diseases. This partnership will provide Acepodia with access to Pfizer's resources, expertise, and strategic guidance throughout the drug development process. Acepodia's ACC platform, based on Nobel laureate Dr. Carolyn Bertozzi's work, offers an off-the-shelf, non-genetically engineered alternative to CAR-T cell therapy with improved scalability and reduced side effects.
The collaboration will also support Acepodia's ongoing clinical programs, including ACE1831 for non-Hodgkin's lymphoma and ACE2016 for solid tumors. ACE1831 has shown promising results in early clinical trials. This partnership aims to address significant unmet needs in autoimmune diseases while leveraging the potential of cell therapies without the limitations of current CAR-T treatments.
Trane Technologies (NYSE: TT), a global climate innovator, has announced its participation in the Morgan Stanley Laguna Conference. Company leadership will engage in a fireside chat on Thursday, September 12, 2024, at 11:05 a.m. PDT. Investors and interested parties can access the live webcast through the Trane Technologies website under the investor relations section. For those unable to attend the live event, an archive of the webcast will be available for 30 days following the conference. This presentation offers an opportunity for stakeholders to gain insights into Trane Technologies' strategies and market positioning.
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