Ingersoll-Rand plc (NYSE:IR), a world leader in creating comfortable,
sustainable and efficient environments, announced it has completed the
acquisition of CALMAC® Corporation, a privately held company
specializing in thermal energy storage solutions.
When integrated with Trane’s industry leading building controls
platform, CALMAC thermal energy storage solutions take pressure off of
the energy grid. It operates similar to a battery, and uses the energy
it stores to cool commercial buildings during times when the cost of
energy is high. This reduces the strain on public utilities, reduces
operating costs for building owners and allows for better use of
renewable forms of energy.
“We are pleased to incorporate CALMAC solutions into our leading
portfolio of energy efficient systems and services,” said Donny Simmons,
president of the Trane Commercial HVAC business of Ingersoll Rand. “With
the acquisition of CALMAC we are well positioned to offer customers even
greater choices for managing energy and operating costs and capitalizing
on the multi-billion dollar energy services market.”
More than 4,000 businesses and institutions in 60 countries rely on
CALMAC's thermal energy storage to cool their buildings, including some
prominent buildings in the U.S. such as Rockefeller Plaza and the Credit
Suisse Building in New York City and an Ingersoll Rand North America
headquarters building in Davidson.
Energy efficient thermal storage systems reduce peak energy usage by
roughly 35 percent by decreasing need for carbon-emitting "peak plants"
- power plants that kick in when there is high demand for electricity.
The CALMAC acquisition is consistent with Ingersoll Rand’s strategy to
help customers solve climate and industrial challenges including energy
and fuel efficiency, food waste and productivity.
The value of this acquisition was not disclosed or material.
About Ingersoll Rand
Ingersoll Rand (NYSE:IR) advances the quality of life by creating
comfortable, sustainable and efficient environments. Our people and our
family of brands— including Club
King® and Trane®
—work together to enhance the quality and comfort of air in homes and
buildings; transport and protect food and perishables; and increase
industrial productivity and efficiency. We are a global business
committed to a world of sustainable progress and enduring results. For
more information, visit www.ingersollrand.com.
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