Trane Acquires CALMAC® Corporation, a Leading Energy Storage Company
Davidson, N.C., November 7, 2017 – Trane®, a leading global provider of indoor comfort systems and services and a brand of Ingersoll Rand, announced that it has acquired CALMAC® Corporation, a privately held company specializing in cool energy technologies including IceBank® storage tanks.
CALMAC ice storage tanks are integrated with Trane commercial heating, ventilation and air conditioning (HVAC) systems to take pressure off of the energy grid. The ice storage tanks store energy, similar to a battery, and use that energy 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 Commercial HVAC business of Ingersoll Rand. “With CALMAC, we are well positioned to offer customers even greater choices for reducing energy and operating costs and capitalizing on the multi-billion energy services market opportunity.”
“CALMAC is pleased to be part of Trane,” said Mark MacCracken, chief executive officer of CALMAC. “We know that with the support and investments from Trane and its parent, Ingersoll Rand, CALMAC can expand the availability and distribution of our products, serving new and existing customers with the energy storage and ice solutions they demand.”
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 United States (U.S.) such as Rockefeller Center and the Credit Suisse Building in New York City and an Ingersoll Rand North America headquarters building in Davidson, N.C. The energy efficient thermal storage systems reduce 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.
CALMAC operates from one location in Fair Lawn, N.J. 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 Car®, Ingersoll Rand®, Thermo 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.
