Trane Charmes Transitioning Away From Fossil Fuels With Innovative Heat Pump Technology

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SWORDS, IRELAND / ACCESSWIRE / December 19, 2022 / Trane® by Trane Technologies (NYSE:TT), a global climate innovator, celebrated a major milestone in its efforts to reduce the company's carbon footprint with the installation of an electrified Thermal Management System at its manufacturing facility in Charmes, France. Leveraging innovative heat pump technology, all-electric heating is now being provided to the entire site and can deliver simultaneous heating and cooling when required. The new system is expected to reduce 1,800 metric tons of carbon annually - the equivalent of the emissions generated from powering nearly 230 homes for one year.

Mayor of Charmes, Patrick Boeuf and Madame La Prefete, Valérie Michel-Moreaux, along with other public officials joined Trane Technologies chair and CEO Dave Regnery and additional Trane Technologies leaders and employees to recognize the milestone.

"The installation of the electrified Thermal Management System at Trane Charmes is an example of the real-world, sustainability-in-action needed to bend the curve on climate change," said Dave Regnery. "I'm proud of the hard work of our dedicated employees in Charmes and throughout Europe who are boldly challenging what's possible for a sustainable world. Their tireless efforts and bold thinking are inspiring the change needed to transform our industry now and into the future."

"This necessary ecological planning, which we must implement at the local level, is a great movement of society to achieve carbon neutrality in 2050, by mobilizing all actors. The State, local authorities, businesses, associations and each and every one of our fellow citizens", said Madame La Prefete, Valerie Michel-Moreaux.

Trane Charmes is helping Trane Technologies reach its sustainability goals. The facility achieved zero waste to landfill in 2012, is fully equipped with LED lighting and has reduced its water consumption by 63 percent since 2019. The plant's employees innovate, manufacture and test large chillers, heat pumps and rooftop units which help buildings achieve higher efficiency and improved indoor environmental quality. These products are used in commercial buildings such as hospitals, schools, offices and hotels.

Trane Technologies is helping solve for some of the world's biggest sustainability challenges and inspiring industry and global change with its 2030 Sustainability Commitments, including the Gigaton Challenge and its pledge to be net-zero by 2050, with emissions reductions targets validated by the Science Based Targets Initiative (SBTi) and in alignment with the United Nations Framework Convention on Climate Change (UNFCC).

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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. Visit tranetechnologies.com.

This news release includes "forward-looking statements" which are statements that are not historical facts, including statements that relate to 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. Such factors include, but are not limited to, our future financial performance and targets, including revenue, EPS and operating income; our business operations; demand for our products and services, including bookings and backlog; capital deployment, including the amount and timing of our dividends, our share repurchase program, including the amount of shares to be repurchased and the timing of such repurchases and our capital allocation strategy, including acquisitions, if any; our projected free cash flow and usage of such cash; our available liquidity; performance of the markets in which we operate; restructuring activity and cost savings associated with such activity; and our effective tax rate. Additional factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2021, as well as our subsequent reports on Form 10-Q and other SEC filings. We assume no obligation to update these forward-looking statements.