Trane Technologies Advances Building Decarbonization with Industry-First Ice-Heating Solution

Rhea-AI Summary

Trane Technologies introduces Thermal Battery Storage-Source Heat Pump System for low-carbon heating in extreme cold, aiming to accelerate building decarbonization. The system can be three times more efficient than traditional heating methods. Thermal energy storage systems can now receive significant tax credits under the Inflation Reduction Act. Trane's flagship facility in La Crosse, Wisconsin will deploy the system. Trane Technologies is committed to reducing customer greenhouse gas emissions by 1 billion metric tons and achieving net-zero emissions by 2050.

All-electric solution enables cutting-edge use of thermal energy and heat pump technology for low-carbon heating in extreme cold

SWORDS, Ireland--(BUSINESS WIRE)-- Trane® – by Trane Technologies (NYSE: TT), a global climate innovator, has introduced its Thermal Battery™ Storage-Source Heat Pump System – a first-of-its-kind solution to advance electrified, low-carbon heating in buildings, including in climates below zero-degrees Fahrenheit.

The innovative system converges four proven technologies to accelerate building decarbonization:

• Thermal energy storage ice tanks, reclaiming and storing excess building heat like a battery, for optimal efficiency
• Air-to-water heat pumps utilizing a reverse vapor compression cycle to extract heat from the air outside to warm the building
• All-electric chiller-heaters, recovering the excess building heat from the ice tanks to expand air-to-water heat pump applications further into dense urban environments and cold climates
• Intelligent controls, maximizing occupant comfort and energy efficiency

“We pioneered the use of ice tanks in thermal storage for cooling, and now we are integrating these proven technologies into an industry-first solution for electrified heating,” said Dave Regnery, chair and CEO of Trane Technologies. “Through relentless innovation, our team continues to leverage creative new solutions to accelerate decarbonization of the built environment. As we scale this technology, we can dramatically reduce emissions for a more sustainable world.”

The Thermal Battery Storage-Source Heat Pump System brings heating and cooling into one electric solution and can be three times more efficient than traditional heating methods. Commonly referred to as ice storage, thermal energy storage ice tanks act like batteries – shifting all or a portion of a building’s heating and cooling electricity needs to off-peak hours while increasing energy efficiency and lowering costs. Additionally, under the Inflation Reduction Act, thermal energy storage systems can now receive significant tax credits.

In alignment with Trane Technologies’ pledge to Lead By Example through carbon neutral operations, the new Thermal Battery Storage-Source Heat Pump System will be deployed at Trane’s flagship facility in La Crosse, Wisconsin later this year.

Trane Technologies senior executives will join other influential leaders from business, government, non-government organizations and the climate sector at Climate Week NYC on September 17-24, 2023. The event takes place every year in partnership with the United Nations General Assembly and is run in coordination with the United Nations and the City of New York.

Through bold, industry-leading action and innovation, Trane Technologies is advancing its 2030 Sustainability Commitments, including the Gigaton Challenge – a pledge to reduce customer greenhouse gas emissions by 1 billion metric tons (or, one gigaton) – and its pledge to be net-zero by 2050. The company’s emissions reductions targets have been externally validated by the Science Based Targets Initiative (SBTi).

About Trane Technologies

Trane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our environmentally responsible portfolio of products and services, we bring efficient and sustainable climate solutions to buildings, homes, and transportation. Learn more at tranetechologies.com.

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.com.

This news release includes “forward-looking statements” within the meaning of securities laws, which are statements that are not historical facts, including statements that relate to innovations to develop decarbonization solutions, and our sustainability commitments and the impact of these commitments. These forward-looking statements are based on our current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from our current expectations. Factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2022, as well as our subsequent reports on Form 10-Q and other SEC filings. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. We assume no obligation to update these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230918162184/en/

Media Contact:

Shelby Hansen

+1-925-336-0496

Shelby.Hansen@tranetechnologies.com

Investors Contact:

Zachary Nagle

+1-704-990-3913

InvestorRelations@tranetechnologies.com

Source: Trane Technologies