Rheinmetall has won its first order for its plug-and-play thermal management heat pump module for a hydrogen fuel cell truck from an unnamed new customer. It marks the first use of the module in a hydrogen-powered vehicle.

Aux Group's project to build a smart air-conditioning compressor plant with annual capacity of 30 million units in Wuhu, Anhui, was launched at a provincial start-of-construction event. Total investment is about 5 billion yuan, with completion expected in March 2025 and 3,000 jobs created.

Blackstone and Emerson closed the acquisition of a majority stake in Emerson's Climate Technologies business, now standalone as Copeland, in a transaction valuing the business at US$14 billion. Emerson received about $9.7 billion at close.

Inventum Technologies opened a new second factory next to its existing plant in Houten, Netherlands, dedicated to producing indoor heat pumps. The facility adds capacity of 80,000 indoor heat pumps per year.

Carrier Global agreed to sell its global commercial refrigeration business to its joint venture partner Haier for an enterprise value of $775 million, including about $200 million of net pension liabilities, announced 13 December 2023.

STIEBEL ELTRON plans to invest 600 million baht in a new factory near its Bang Pa-In plant in Ayutthaya, Thailand, to produce heat pumps for export, with operations starting in 2025.

Johnson Controls-Hitachi Air Conditioning's subsidiary Johnson Controls-Hitachi Wanbao Compressor (Guangzhou) signed the main terms of an investment contract with Conghua district for a scroll compressor project planned at about 100 mu of land, with investment of RMB 480 million.

Embraco, a Nidec Global Appliance brand, began high-volume production of NEX and VEH compressors at its Beijing factory. The company invested US$5.7 million to set up the production line.

Finnish heat pump maker Oilon will supply S series industrial heat pumps using R1234ze to Fortum for two district heating plants recovering waste heat from a new Microsoft data centre complex, in a contract valued at about EUR 15 million.

Copeland will receive $11,488,975 in federal funding to increase production of heat pump compressors and hydronic systems at four manufacturing locations in Ohio, Missouri and Wisconsin, plus suppliers in several states.

Bard Manufacturing will receive $9,208,605 in federal funding to expand its Madison, Georgia facility, adding fabrication capacity and a new heat pump assembly line.

Armstrong International received $5,083,719 in federal funding to add 29,000 square feet to its Three Rivers, Michigan facility for manufacturing industrial heat pumps.

The US Department of Energy will provide Mitsubishi Electric US $50 million to establish a heat pump compressor factory in Kentucky. The funding is part of a $169 million package for heat pump manufacturing projects.

AUX Group signed a strategic cooperation agreement with the Wuhu Economic and Technological Development Zone to settle a project producing 30 million compressors annually in Wuhu, Anhui, China.

Swiss GF closed its tender offer for Finnish-listed Uponor on 13 November 2023, combining building technology businesses into a new GF Uponor division and moving infrastructure into GF Piping Systems.

Fortum chose Oilon as heat pump supplier for two heat pump plants that will recover waste heat from a Microsoft data center complex in the Helsinki capital region for district heating. The delivery is valued at about EUR 15 million, the largest in Oilon's history.

Danfoss Turbocor is opening an expanded facility in Haiyan, China, next year. The expansion supports its continued growth of compressor manufacturing.

Danfoss Turbocor, marking 10 years as a wholly owned Danfoss company, said a new production facility in Nordborg, Denmark is scheduled for completion in 2026. The Nordborg site currently handles sales and service for European customers.

Rheinmetall won three orders from one of the world's largest automakers to supply electric coolant pumps (WUP3, WUP80, MEP150), worth an aggregate upper-two-digit million-euro amount, with production running 2023 to autumn 2031.

Bosch plans to invest EUR 100 million at its Aveiro plant in Portugal to increase heat pump production, reported in November 2023.

Munters received an order worth $137m from a leading US data centre colocation operator for SyCool Split dry cooling systems and field service. Delivery is scheduled for 2025.

Chinese compressor maker Jiaxipera opened its new production plant in Ramos Arizpe, Coahuila, with a $60 million investment in stages, creating 600 jobs. The first phase of $20 million supports two million compressors per year.

Jiaxipera's compressor factory in Ramos Arizpe, Coahuila, Mexico began production on October 26, 2023, with a US$60 million investment and annual capacity of 6 million units. It is the first independently built overseas factory of China's compressor industry.

Danish axial impeller maker Multi-Wing Group acquired 100% of Italian HVAC&R fan manufacturer VIP Air Empowerment Srl, which was founded in 1985. The Fasolini family owners will remain in the company.

Parker Corporation announced an $8 million investment and 200 new jobs for a new plant in the Finsa industrial park in Aguascalientes, Mexico, starting operations in August 2024 to make air conditioner components.

Parker Corporation Mexicana announced an $8 million investment for a new plant in the FINSA industrial park in Aguascalientes, creating about 200 jobs and making air conditioner components, with operations starting in August 2024.

Rheinmetall won an order from an unnamed European electric tractor maker for a plug-and-play heat pump thermal module, worth a figure in the lower-two-digit million-euro range, with deliveries for field tests starting in 2024.

Damen Naval signed a contract with Heinen & Hopman to supply HVAC-R and CBRN filtration systems for four anti-submarine warfare frigates for the Dutch and Belgian navies.

Johnson Controls will install four 15 MW heat pumps at Hamburg's Dradenau wastewater treatment site to feed fossil-free heat into Hamburg Energie's district heating network from 2025, saving about 66,000 tons of CO2 a year.

Nordjyllandsværket A/S awarded MAN Energy Solutions Schweiz AG a contract worth DKK 681 million (about EUR 91.3 million) for a seawater heat pump, technical installations and a 5-year service agreement in Vodskov, Denmark.

Viessmann is building a 40,000-square-meter heat pump factory in Legnica, Poland, with an investment above EUR 200 million, with UNITY Consulting supporting planning and production start targeted for Q3 2023.

Rheinmetall has developed a prototype propane (R290) e-compressor and heat pump module for electric vehicles, presented at the ATMO Europe Summit in September 2023, with market availability targeted by 2028.

Robert Bosch Energy and Body Systems will spend about EUR 36 million to expand production capacity of assembly lines at its Miskolc plant by mid-2025, creating 110 new jobs through redeployment.

Munters has signed an agreement to acquire ZECO Aircon Limited, an Indian air treatment manufacturer headquartered in Gurgaon, for an estimated enterprise value of MSEK 790. The deal is expected to close before year-end and will be financed through existing credit facilities.

Trane moved a residential air conditioning production line from Florida to its Apodaca plant in Nuevo León, Mexico, in an investment of $18 million. The expansion covering 10,000 square meters was finished in July 2023 and is expected to create over 200 jobs.

BDR Thermea's Remeha opened a heat pump factory in the Netherlands with a line capacity of 140,000 Elga Ace hybrid heat pumps per year. The opening was attended by acting ministers Hugo de Jonge and Rob Jetten.

John Cockerill Hamon was awarded an order by Chiyoda Technip Joint Venture to supply a seawater induced draft cooling tower with 112 cells for the North Field East LNG facilities at Ras Laffan, Qatar. The project is part of QatarEnergy's expansion of LNG output.

Zilmet plans to open its first U.S. manufacturing facility in Georgetown County, South Carolina, investing $32.7 million and creating 50 jobs. Phase one is expected to be completed in 2024, with production starting in 2025.

ait-group is acquiring and converting the neighbouring Maja-Werke site in Kasendorf, Germany, doubling its heat pump production capacity by up to 150,000 units. Production start is planned for early 2024 and the company aims to take over Maja employees.

Hanon Systems will invest nearly $170 million and create 600 jobs by establishing a new manufacturing facility in Huntington Park, Loudon County, Tennessee. The plant will supply thermal solutions for electrified vehicles to North American automakers.

Changhong Huayi Compressor (Jingzhou) held a commissioning ceremony on July 28, 2023 for phase one of its 10 million unit capacity expansion, including a new automated compressor line. After phase one, annual output reaches 4 million units and total capacity 15 million.

AAON announced a $40 million expansion adding a 230,000-square-foot building to its Longview, Texas plant to increase production and coil capacity, with about 250 new full-time jobs. Groundbreaking is scheduled for July 18, 2023.

Atlantic is investing over EUR 30 million to extend its Billy-Berclau factory by 5,000 m², adding production of heat pump components previously imported from Asia.

Johnson Controls announced its acquisition of M&M Carnot, a maker of CO2-based industrial refrigeration equipment with low GWP, based in Annapolis, Maryland and Trois Rivières, Quebec. Announced June 2023.

TD Deutsche Klimakompressor broke ground on its sixth construction phase in Straßgräbchen, Saxony, adding about 20,000 square metres and a high-bay warehouse, with completion planned for late 2024 and annual shipments rising from 6 to 8 million units.

Viessmann Climate Solutions is building a new €200 million, 50,000-square-meter heat pump factory in Legnica, Poland, as part of a planned €1 billion investment over three years in heat pumps and green air-conditioning.

Airedale International Air Conditioning was awarded a single-tender contract worth £27,678.69 to replace compressor 4 on chiller 2 and related capacitors at the Frenchay Campus of the University of the West of England in Bristol. The award was published on 12 June 2023.

Blackstone funds completed the acquisition of a majority stake in Emerson's Climate Technologies business, valued at $14.0 billion, which will be renamed Copeland. Emerson receives about $9.7 billion in upfront proceeds and keeps 40% common equity.

BITZER Group signed an acquisition contract to acquire OJ Electronics A/S, a Sønderborg, Denmark maker of control solutions for ventilation systems and electric floor heating. The deal is expected to close no later than Q3 2023, subject to usual approvals.

Korean automotive thermal management maker Hanon Systems announced a $40 million factory in Statesboro, Georgia, to supply HVAC parts to Hyundai and Kia near Hyundai's EV plant, hiring at least 160 people with operations targeted for May 2024.