Copeland announced a ₹500 crore (US$60 million) investment in India to expand its Atit, Maharashtra manufacturing facility and build a new 15,000 square meter global R&D center in Pune. The Pune plant will grow by 7,350 square meters over five years, adding scroll compressor capacity.

Copeland announced a ₹500 crore (US$60 million) investment in India to expand its Atit, Maharashtra manufacturing facility, add a scroll compressor line, and build a 15,000 sq m R&D centre in Pune.

Verder announced the acquisition of Sauermann, a supplier of HVAC-R technologies including condensate removal pumps, to expand its pump and equipment portfolio.

Norbec opened its new CAD 45 million manufacturing plant in Strathroy, Ontario, its first in Ontario, creating 70 jobs to serve Ontario and U.S. Midwest markets.

A. O. Smith is opening the third plant at its Ciudad Juárez site, Mexico, producing 39,000 tankless water heaters in the first year, with 300 new jobs planned and production starting in January 2025.

Johnson Controls is expanding production at its Izmir, Türkiye plant with a three-million-dollar investment that triples capacity for commercial heat pumps serving European customers.

Sanhua Vietnam, a subsidiary of Sanhua Holding Group, inaugurated the second phase of its air conditioning valve factory at An Duong Industrial Park in Hai Phong on September 4, 2024. The second phase received US$60 million of investment in 2023.

Bitzer Scroll will use a federal grant of more than $5 million from the U.S. Department of Energy to increase production of scroll compressors for electric heat pumps at its DeWitt, New York factory. The firm has committed nearly $6 million in matching investment and plans to create 20 jobs.

Valfex will invest more than 5 billion rubles in two new plants and two warehouses near the village of Sukhodol in Vladimir region, set to open next year, according to governor Alexander Avdeev.

Johnson Controls unveiled its global manufacturing center for York M multistage centrifugal compressors at its Wuxi factory in China, announced August 15, 2024.

Emerson announced on August 13, 2024 that it completed the sale of its remaining 40% interest in the Copeland joint venture to private equity funds managed by Blackstone, in a transaction valued at approximately $3.5 billion.

Heat-Timer Corporation, a supplier of commercial heating controls and energy management systems, has been sold to Leonard Valve Company, a portfolio company of Bessemer Investors. EC M&A acted as exclusive financial advisor to Heat-Timer.

Mitsubishi Electric US plans to invest $143.5 million to repurpose its existing Maysville, Kentucky facility to produce heat pump compressors, the first U.S. factory for twin-rotary variable capacity compressors. The project is expected to create 122 new jobs.

Danfoss inaugurated new production facilities adding 40,000 square meters at its Monterrey Campus in Nuevo León, Mexico, for scroll and reciprocating compressors, pressure sensors and heat exchangers. The expansion targets an estimated 100,000 compressor units and 1.6 million pressure sensors per year.

Premekon has agreed to manufacture and install pipe bridges, pump room steel structures and maintenance bridges for Helen's new heat pump plant in Eiranranta, Helsinki. The plant will provide 300 GWh of annual district heating capacity.

Robert Bosch GmbH has agreed to buy Johnson Controls International's global HVAC business for residential and light commercial buildings in an all-cash deal valued at US$8.1 billion. The deal includes the air-conditioning joint venture between Johnson Controls and Hitachi.

Jiaxing Gaxi Bera Compressor plans to build two refrigerator compressor production lines at its existing Wangdian site in Jiaxing, adding 6 million units a year, under a CNY 105.65 million investment. The local environmental authority published its draft environmental approval notice on 18 July 2024.

Aalborg Forsyning placed a follow-up order with MAN Energy Solutions for an additional seawater heat pump unit, bringing the Aalborg district heating plant to four units and 177 MW of heating capacity. The plant is scheduled to cut up to 210,000 tons of CO2 annually.

De Jong Slovakia plans a new plant in Prešov making stainless steel water storage tanks for heat pumps, with an investment of €63.09 million, 150 jobs by end-2028 and initial capacity of 350,000 units a year. The Slovak government approved €11.42 million in corporate income tax relief, with production planned from January 2026.

Taco Europe built a new facility in Boršov, Czech Republic, producing high-performance circulators and heat interface units for heating, cooling and solar systems, plus a European distribution center. The plant expands capacity to meet growing demand.

MAN Energy Solutions will supply a large-scale heat pump system with two 12.5 MW compressors to Scout Motors for its electric vehicle plant in Blythewood, South Carolina. The plant, part of a multi-billion Volkswagen investment, is designed for over 200,000 vehicles a year.

Swedish heat pump maker Aira opened its first factory in Wrocław, Poland, with a maximum annual capacity of 500,000 units. The €300 million plant, acquired from Volvo in 2023, is expected to create up to 2,000 jobs over the next decade.

Kirloskar Pneumatic Company signed a memorandum of understanding on 21 June 2024 to acquire a 54.55% equity stake in refrigeration firm Systems and Components India for around Rs 15 crore in cash.

Taco Inc. opened a new manufacturing plant in Boršov, Czech Republic, producing circulators and heat interface units, with a European distribution center. The plant expands Taco's Central European capacity alongside sites in Velešín and Garbe Park.

HVAC equipment distributor JMP will consolidate its Greensboro operations into a new facility in Guilford County, North Carolina, investing $30 million and creating 40 jobs over five years.

Annexair announced a C$30 million investment to add 14,000 m2 to its plant in Saint-Germain-de-Grantham, Quebec, and buy new equipment. Works start soon with completion planned for June 2025, bringing the site to 46,500 m2.

Danfoss Turbocor opened a new 145,000 square foot production facility in Tallahassee, Florida, for oil-free magnetic bearing compressors. The $62 million investment doubles current compressor capacity and will create local jobs.

Danfoss Turbocor opened a 145,000 sq ft production facility in Tallahassee, Florida, built with a $62 million investment. The plant makes TTS/TG/TH Turbocor compressors and doubles the company's current capacity.

Danfoss Turbocor celebrated the opening of a new 145,000 square foot production facility in Tallahassee, doubling its manufacturing capacity for oil-free compressors. The $62 million investment is expected to create jobs in the area.

Copeland announced it is nearing completion of a £19 million investment to expand its Cookstown compressor manufacturing facility, adding a 3,500 square meter building with new production lines. Final touches are expected by September 2024. The announcement is dated May 14, 2024.

Vessco Water, based in Minneapolis, acquired G.A. Fleet Associates, a New York distributor of pump and process treatment equipment for municipal water and HVAC equipment for commercial markets, based in Rye Brook, New York.

Rheinmetall received two new orders for its plug and play heat pump module, one from a foreign e-bus conversion specialist worth a high single-digit million euro amount and one from a German e-off-road vehicle maker in the single-digit million euro range, totaling double-digit million euros.

Rheinmetall secured two new orders for its plug-and-play heat pump module, one from an international electric bus converter and one from a German off-road electric vehicle maker. The total order value is in the double-digit million euro range.

Danfoss Turbocor opened an expanded production facility in Tallahassee, Florida in May 2024, doubling its manufacturing capacity for oil-free magnetic bearing compressors.

Xinlei Compressor plans a future factory in the eastern new district of Wenling, Zhejiang, with total investment of about 1.2 billion yuan, to produce 800,000 small air compressors, 65,000 screw compressors, 3,000 centrifugal blowers and heat pump units annually.

MAHLE has won two orders for thermal management modules for electric vehicles, with a combined value just under EUR 1.5 billion. One is the largest single thermal management order in MAHLE's history, from a large OEM; the other is from an Asian car maker.

TD Deutsche Klimakompressor (TDDK) held a topping-out ceremony for the sixth construction phase of its Bernsdorf, Saxony plant, adding 17,500 sq m of building area for electric refrigerant compressors, with the shell due to be completed by end 2024.

TDDK announced on April 8, 2024 that it will expand its Straßgräbchen plant near Kamenz into the largest electric automotive climate compressor production site in Europe. Mass production is due to start in 2025, and capacity will rise from six to eight million compressors a year. Investment size has not been disclosed.

HANSEN signed a framework agreement on March 12, 2024 with the Nantong High-tech Zone government in Jiangsu to set up a manufacturing plant. The plant is in fitting-out, with production and shipments expected in the third quarter of 2024, starting with 52 bar valves for refrigeration.

Viessmann Climate Solutions has started series production of the Vitocal 200-A PRO air/water heat pump for commercial use on a new production line at its Landsberg am Lech site, with capacity for four-figure annual volumes.

Thermal management firm Modine will invest $18.1 million to expand its Rockbridge County, Virginia operation, adding 211 jobs to increase production of data center cooling equipment.

Bosch is investing around 100 million euros in its Aveiro site in Portugal by 2026 to build laboratories, two production buildings and additional heat pump lines, creating several hundred jobs over the medium term.

American Event Services closed its acquisition of Riverview, Florida-based Canariis Corporation, a maker of packaged HVAC, plumbing and fire-protection systems. Canariis becomes a wholly owned subsidiary of AES.

Liebherr-Aerospace is building a new 12,000 m² heat exchanger production building next to its Campsas site in Tarn-et-Garonne, with an investment of nearly €30 million. The building is due to be completed at the end of Q1 2025 and fully operational in mid-2026.

Bronswerk Group won two contracts worth over CAD 100 million from Irving Shipbuilding to supply ventilation, air conditioning and refrigeration systems for three new Royal Canadian Navy surface combatant ships.

GEA Group will invest about €5.5 million by 2026 to modernize production at its GEA AWP valve plant in Prenzlau, Germany, replacing seven older machines and adding about 20 production jobs.

GEA is investing around €5.5 million to modernise industrial refrigeration valve production at its AWP site in Prenzlau, Germany, replacing older machining centres with new CNC machines. The investment will add 20 production jobs by 2026.

LG Electronics has opened a new scroll compressor production line at its factory in Monterrey, Mexico, to increase capacity and serve North American HVAC customers.

Gradient, a startup making window-mounted heat pumps, is in line for $17.5 million in federal funding to establish a Michigan plant employing about 300 people with capacity of 100,000 units a year. The final contracts have not yet been signed.

Johnson Controls plans to expand heat-pump manufacturing at three U.S. plants with more than $33 million in federal funding plus matching funds, pushing output above 200,000 units a year and creating close to 1,000 jobs. Final contracts with the Department of Energy were not yet signed.