Trane Technologies plc - TT STOCK NEWS

Trane Technologies has launched a new Innovation Center in Oberhausen, Germany, dedicated to decarbonization and electrification of heating and cooling solutions. This 14,000 square meter facility showcases state-of-the-art Trane® solutions for industrial and commercial buildings and serves as the Center of Excellence for Electrification. It features advanced electric drive solutions for transport refrigeration, a modern rental hub, and an innovative thermal management system which significantly reduces CO2 emissions. The launch event included speeches from dignitaries and company leaders, emphasizing the center's contribution to sustainable technology and local STEM skill development.

The Board of Directors of Trane Technologies (NYSE:TT) has declared a quarterly dividend of $0.84 per ordinary share, amounting to an annualized dividend of $3.36 per share.

This dividend will be payable on September 30, 2024, to shareholders recorded by September 6, 2024. Trane Technologies has a long history of paying consecutive quarterly dividends since 1919 and annual dividends since 1910.

Notably, the company has increased its quarterly dividend by 58% since March 2020.

Trane Technologies (NYSE: TT), a global climate innovator, has announced the pricing of $500 million in 5.100% senior notes due 2034, issued by Trane Technologies Financing

The net proceeds will be used to repay $500 million of 3.550% senior notes maturing on November 1, 2024. The offering is expected to close on June 13, 2024, subject to customary closing conditions.

Underwriters include Citigroup Global Markets Inc., J.P. Morgan Securities , and Mizuho Securities USA The offering documents can be accessed via the SEC's EDGAR system.

Thermo King has introduced its latest innovation, the evolve™ hybrid-electric multi-temperature refrigerated trailer, in Chicago. This development, resulting from a multi-year collaboration with logistics leader Martin Brower, aims to reduce carbon emissions significantly. The new trailer can maintain precise cargo temperatures with zero direct emissions, potentially decreasing carbon output by 100 pounds per unit per day. The technology has been tested extensively over two years under various conditions and distances. Thermo King plans to have an all-electric solution across all cold chain transport segments by 2025, supporting Trane Technologies' goal of reducing customer greenhouse gas emissions by 1 billion metric tons by 2030.

Trane Technologies participated in a European Parliament round table on food loss reduction, hosted by MEP Rosa D'Amato and co-developed with Competere. The event focused on the global impact of food loss, which accounts for 30% of all produced food and 10% of greenhouse gas emissions. Trane Technologies emphasized the need to adopt existing technologies, such as their AxlePower solution, which provides fully electric, low-emission refrigeration for the transport sector. The company highlighted its commitment to 2030 sustainability goals and the importance of industry collaboration to reduce food waste and emissions.

Trane Technologies' innovative solutions, including end-to-end connected, active temperature-controlled transport systems, aim to enhance the efficiency and sustainability of the cold chain. These efforts align with EU campaigns to halve food waste by 2030 and leverage digital strategies to maintain optimal temperatures during transport.

Trane Technologies Vice President, Lynn Castrataro, emphasizes the company's holistic approach to employee well-being, integrating physical, mental, and financial wellness into its culture. The company has built a network of 300 wellness champions and offers mental health training in collaboration with the APA Foundation. Trane Technologies continually evolves its offerings through global listening sessions, focusing on equity and inclusion. Notable initiatives include the Helping Hand Fund, childcare solutions, and a new Student Debt Program. These efforts aim to create an uplifting and inclusive work environment.

Trane Technologies announced strong growth and sustainability achievements in its latest ESG Report, titled 'Accelerating Action for Impact.' The company has made significant strides toward its 2030 Sustainability Commitments and 2050 net-zero goals, including a 44% reduction in operational emissions, a 4% decrease in absolute energy use, and meeting 68% of global electricity demand through renewable sources. Additionally, Trane achieved gender parity on its Board of Directors and increased women in management roles to 25.2%. The report also highlighted the reduction of 157 million metric tons of carbon emissions from customer operations, significant water use reductions, and advances in workforce development programs.

Trane Technologies (NYSE: TT) has released its latest ESG report, highlighting substantial progress in sustainability and financial performance. Key achievements include reducing 157 million metric tons of customer carbon emissions and a 44% reduction in operational emissions since 2019.

The company also reported over 20% adjusted EPS growth for the third consecutive year. Notable advancements include achieving 68% renewable energy use, a 33% reduction in total water usage, and gender parity on the Board of Directors.

Trane Technologies continues to invest in sustainable innovation and culture as part of its 2030 Sustainability Commitments and 2050 net-zero goals. The company has been recognized with several prominent awards for its sustainability efforts.

Range Energy and Thermo King have collaborated to advance the commercial adoption of electric refrigerated trailers in the Americas. The partnership aims to integrate Range's electric trailer platform with Thermo King's refrigeration units to provide cleaner, safer, and more efficient solutions for the trucking industry. Through extensive testing, customer pilots, and public demonstrations, the companies are working towards accelerating the electrification of commercial trucking to meet emissions reduction goals and mandates.