Trane Technologies Delivers All-Electric, Zero Direct Emission Thermo King® Solutions in Every Segment of the Cold Chain in EMEA

Rhea-AI Summary

Trane Technologies (TT) achieves its August 2021 commitment to deliver fully electric, zero direct emission Thermo King refrigeration solutions for every segment of the cold chain in the Europe, Middle East and Africa (EMEA) region by 2023. The company invests over $100 million into its all-electric evolve™ portfolio, including electric refrigeration solutions for truck, trailer, rail, air, and marine transport. Trane Technologies continues to lead in the electrification and decarbonization of the cold chain, helping customers transition to more sustainable fleet solutions while reducing their carbon footprints. Visitors at Solutrans 2023 will have the opportunity to see Thermo King's latest transport electrification innovations, including sophisticated solutions in the Advancer trailer refrigeration portfolio, a new all-electric E-series refrigeration unit for light commercial vehicles, and advanced fully-electric transport refrigeration unit cooling technology for heavy goods vehicles. The company is also set to offer all-electric solutions for every cold chain segment in the Americas by 2025, with emissions reductions targets validated by the Science Based Targets Initiative (SBTi).

Positive

• Trane Technologies fulfills its commitment to deliver fully electric, zero direct emission Thermo King refrigeration solutions for every segment of the cold chain in the EMEA region by 2023.
• The company invests over $100 million into its all-electric evolve™ portfolio, including electric refrigeration solutions for various modes of transport.
• Trane Technologies continues to lead in the electrification and decarbonization of the cold chain, helping customers transition to more sustainable fleet solutions while reducing their carbon footprints.
• The company plans to offer all-electric solutions for every cold chain segment in the Americas by 2025, with emissions reductions targets validated by the Science Based Targets Initiative (SBTi).

Negative

• None.

SWORDS, Ireland--(BUSINESS WIRE)-- Trane Technologies (NYSE: TT), a global climate innovator, today announced at Solutrans 2023 that it has fulfilled its August 2021 commitment to deliver fully electric, zero direct emission Thermo King® refrigeration solutions for every segment of the cold chain in the Europe, Middle East and Africa (EMEA) region by 2023.

The company is continuing to lead by example in its electrification and decarbonization of the cold chain – helping customers transition to more sustainable fleet solutions while reducing their carbon footprints. Investing more than $100 million into its all-electric evolve™ portfolio, including electric refrigeration solutions for truck, trailer, rail, air and marine transport.

“As we continue leveraging the power of innovation to transform our industry, I am thrilled to announce this significant milestone in our journey toward a more sustainable world,” said Dwayne Cowan, president, Thermo King EMEA, Trane Technologies. “Our ability to deliver an all-electric, zero direct emissions solution in every segment of the EMEA cold chain represents another important step in our unwavering commitment to cutting our customers’ carbon footprints while reducing global food loss.”

From November 21 to 25, Solutrans 2023 visitors will have the opportunity to see Thermo King’s latest transport electrification innovations, including:

• Sophisticated solutions in the industry-leading Advancer trailer refrigeration portfolio, including a fully-electric, emission-free system with AxlePower smart energy generating technology.
• A new, all-electric E-series refrigeration unit for light commercial vehicles – the most energy-efficient transport refrigeration unit on the market today – enabling customers to transition from a diesel-powered to zero-emission solution.
• Advanced, fully-electric transport refrigeration unit cooling technology for heavy goods vehicles, helping accelerate the next generation of last mile delivery operations.

Continuing to lead by example in the sustainable transport of food and critical pharmaceuticals around the world, the company will also leverage innovative and digitally enabled electrification technologies to offer all-electric solutions for every cold chain segment in the Americas by 2025. With emissions reductions targets externally validated by the Science Based Targets Initiative (SBTi), Trane Technologies is advancing its 2030 Sustainability Commitments, including its Gigaton Challenge to reduce customer emissions by a billion metric tons, and its pledge to reach net-zero carbon emissions by 2050.

About Trane Technologies

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

About Thermo King

Thermo King is the leader in sustainable transport climate control solutions. We provide cutting-edge technology and solutions with sustainability and the customer experience in mind. Fresh thinking, passion, and problem-solving are core to our culture and approach, ensuring our customers deliver what matters most to communities everywhere.

Forward Looking Statements

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 our electrification and decarbonization innovations, and our other 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/20231120743120/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

FAQ

What is Trane Technologies' (TT) recent announcement at Solutrans 2023?

Trane Technologies has fulfilled its commitment to deliver fully electric, zero direct emission Thermo King refrigeration solutions for every segment of the cold chain in the EMEA region by 2023.

How much has Trane Technologies invested in its all-electric evolve™ portfolio?

Trane Technologies has invested over $100 million into its all-electric evolve™ portfolio, including electric refrigeration solutions for truck, trailer, rail, air, and marine transport.

What are some of the latest transport electrification innovations by Trane Technologies?

The latest innovations include sophisticated solutions in the Advancer trailer refrigeration portfolio, a new all-electric E-series refrigeration unit for light commercial vehicles, and advanced fully-electric transport refrigeration unit cooling technology for heavy goods vehicles.

What are Trane Technologies' future plans for all-electric solutions in the Americas?

The company is set to offer all-electric solutions for every cold chain segment in the Americas by 2025, with emissions reductions targets validated by the Science Based Targets Initiative (SBTi).