Latest news with #TraneTechnologies
CBS News
9 minutes ago
- Business
- CBS News
An innovative "ice battery" system is being used to cool buildings and lower energy costs
New York — In the heart of Manhattan, four stories below ground, the iconic Eleven Madison skyscraper is being air-conditioned using ice. "There's about 500,000 pounds of ice created every night," said Holly Paeper, president of Trane Technologies, the company responsible for installing the system it calls an ice battery. "And to put that into context, think about three city buses full of ice cubes." The ice battery system freezes water at night when the cost of electricity is low. Then, during the day, when the price is high, the building is cooled with the previous night's ice instead of using expensive electricity. Trane says that this system can lower cooling costs by up to 40%. "So, when everyone else is using their electricity in the middle of July to cool their building or to cool their homes, it's a big draw on the grid," Paeper said. "This building won't draw from that because it made its ice last night." Air conditioning makes up about 20% of energy use in homes and businesses worldwide, according to a 2018 report from the International Energy Agency. But on the hottest days, it can account for more than 70% of electricity use during peak hours, per a 2023 IEA report. "We've done installations at about 4,000 sites globally," Paeper said. "There are six million commercial buildings in the U.S. alone, and a very small fraction of them have installations like this." The problem that scientists like Dr. Patrick Shamberger are trying to solve isn't an overall lack of energy — it's when too many energy consumers are trying to use electricity at the same time, which puts stress on the grid. "We don't want to build a whole bunch of excess power plants to just sit around, never turned on until that hot, hot day in August," said Shamberger, an associate professor of materials science and engineering at Texas A&M. "It's a lot of capital investment that doesn't get used." So, instead of building more power plants, the focus is on storing energy with a system such as ice batteries. But because the process of freezing water uses a lot of energy itself, Shamberger and others are testing new materials that don't need to get as cold as ice, but can still keep buildings cool. "We take water, we add some other elements and molecules to it," Shamberger explained. "And based on the composition, we can control that temperature basically anywhere we want it, in the zero to 20 C range. And that's important, because what might work great here in Texas, maybe it's not the right temperature to store your heat at if you're in Nevada, or in Wisconsin, say." According to an analysis released last month by the National Energy Assistance Directors Association, a Washington, D.C.-based energy advocacy group, home electricity bills in the U.S. this summer are expected to rise to an average of $784 for the summer period, from June through September, up 6.2% from last year's projected average of $737. It marks the highest such average in the 12 years that NEADA has been tracking summer residential cooling. Shamberger said he sees a world where this system can be used to cool homes. "Absolutely, we're a little bit far out, right?" he said.
Yahoo
5 days ago
- Business
- Yahoo
Trane Technologies Delivers Leading Business and Sustainability Performance by Reducing Customers' Energy Use and Carbon Emissions
Sustainability Report highlights reduction of 237 million metric tons of customers' carbon emissions and 44% reduction in operational emissions since 2019 SWORDS, IE / / May 29, 2025 / Trane Technologies (NYSE:TT), a global climate innovator, is continuing to set the pace for decarbonizing buildings, industry and the cold chain by reducing energy use and carbon emissions for customers and in its own operations - while consistently delivering leading business and sustainability performance. Trane Technologies' 2024 Sustainability Report highlights the company's consistent execution, focused sustainability strategy and continued investment in innovation. "We continue to advance sustainability by reducing energy use and emissions through our innovative thermal management systems, electrification and digital enablement for our customers and in our own operations," said Dave Regnery, chair and CEO of Trane Technologies. "Our customer solutions are green for green - good for the planet, and good for our customers' bottom line." Trane Technologies has reduced customer carbon emissions by 237 million metric tons since 2019, on track to meet its Gigaton Challenge goal to reduce one gigaton (or, one billion metric tons) of customer carbon emissions by 2030. In 2024, the company launched 190 new products including a significant portfolio refresh with lower global warming potential (GWP) refrigerants. With high customer demand for sustainable solutions, the company delivered a fourth consecutive year of more than 20% adjusted EPS growth. "We're setting the standard for what's possible in sustainable innovation. While demand for our sustainable solutions and manufacturing needs have increased, we've simultaneously reduced carbon emissions and environmental impacts in our operations," said Mauro Atalla, Chief Technology & Sustainability Officer of Trane Technologies. "We are proving that by embedding sustainability into our purpose, strategy and culture, it is possible to be a growth company, meet ambitious sustainability commitments and add value to customers by helping them meet their goals." Trane Technologies' 2024 Sustainability Report includes a comprehensive set of data, aligned with leading sustainability frameworks, that showcases how centering sustainability in business generates positive outcomes for customers, investors, employees and society. Notable advancements made in 2024 toward Trane Technologies' 2030 Sustainability Commitments include (compared to 2019 baseline unless otherwise noted): Gigaton Challenge: Reduced 237 million metric tons of carbon - equivalent to the emissions generated from using nearly 27 billion gallons of gasoline - toward the Gigaton Challenge, a pledge to reduce one billion metric tons of carbon from product use emissions by 2030. Carbon Neutrality: Reduced operational emissions by 44%, on track toward reaching science-based target of 50% reduction by 2030. Absolute Energy: Reduced absolute energy use by 3.2% toward 10% goal, even as manufacturing and production demands increased in support of company growth. Renewable Energy*: Met global operational electricity demands with 68% renewable energy sources. Water and Waste: Reduced total water usage by 49% and by 27% at facilities in water-stressed regions and achieved zero waste to landfill at 80% of global manufacturing sites. Embodied Carbon: In 2024, announced an industry-first, precedent-setting commitment to reduce embodied carbon in our products by 40% by 2030. Culture and Workforce Development*: Achieved employee engagement score of 82 (out of 100), ranking in the top quartile among benchmarked companies. Increased participation in tuition advancement program by 28% compared to prior year with nearly 600 global employees receiving an aggregate value of $2.5 million dollars in tuition assistance. Volunteerism: Completed more than 92,000 employee volunteer hours*, totaling more than 329,000 total volunteer hours since 2019. A series of prominent awards, ratings and listings also recognized Trane Technologies for its industry-leading sustainability performance and company culture: Dow Jones Sustainability Index (14th consecutive year listed on North America Index, 4th consecutive year on World Index) Just Capital's JUST 100 List (ranked 1st in Buildings Materials & Construction industry and 6th overall) CDP Climate Change 'A' List (3rd consecutive year) Corporate Knights (ranked 26th on the 2025 Global 100) Ethisphere® Institute's World's Most Ethical Companies (2nd consecutive year) Fortune's World's Most Admired Companies (13th consecutive year) Alongside its Sustainability Report, Trane Technologies published its Climate Transition Plan that outlines the company's forward-looking climate strategy, including its plans for managing physical and transition climate risks and opportunities, reducing carbon emissions in alignment with international climate agreements and preparing for future policy, market and technological changes. To read Trane Technologies' full 2024 Sustainability Report, visit 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 This news release includes "forward-looking statements" within the meaning of securities laws, which are statements that are not historical facts, including statements that relate to our 2030 Sustainability Commitments; our pathway to net-zero by 2050; our sustainability targets, goals, commitments and programs and their anticipated impacts; our product and service innovations; and other business plans, initiatives and objectives. 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. Factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2024, as well as our subsequent reports on Form 10-Q and other SEC filings. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. We assume no obligation to update these forward-looking statements. * Calendar year 2024 metric View additional multimedia and more ESG storytelling from Trane Technologies on Contact Info: Spokesperson: Trane TechnologiesWebsite: info@ SOURCE: Trane Technologies View the original press release on ACCESS Newswire Sign in to access your portfolio
Associated Press
6 days ago
- Business
- Associated Press
Trane Technologies Delivers Leading Business and Sustainability Performance by Reducing Customers' Energy Use and Carbon Emissions
SWORDS, Ireland, May 29, 2025 /3BL/ - Trane Technologies (NYSE: TT), a global climate innovator, is continuing to set the pace for decarbonizing buildings, industry and the cold chain by reducing energy use and carbon emissions for customers and in its own operations – while consistently delivering leading business and sustainability performance. Trane Technologies' 2024 Sustainability Report highlights the company's consistent execution, focused sustainability strategy and continued investment in innovation. 'We continue to advance sustainability by reducing energy use and emissions through our innovative thermal management systems, electrification and digital enablement for our customers and in our own operations,' said Dave Regnery, chair and CEO of Trane Technologies. 'Our customer solutions are green for green – good for the planet, and good for our customers' bottom line.' Trane Technologies has reduced customer carbon emissions by 237 million metric tons since 2019, on track to meet its Gigaton Challenge goal to reduce one gigaton (or, one billion metric tons) of customer carbon emissions by 2030. In 2024, the company launched 190 new products including a significant portfolio refresh with lower global warming potential (GWP) refrigerants. With high customer demand for sustainable solutions, the company delivered a fourth consecutive year of more than 20% adjusted EPS growth. 'We're setting the standard for what's possible in sustainable innovation. While demand for our sustainable solutions and manufacturing needs have increased, we've simultaneously reduced carbon emissions and environmental impacts in our operations,' said Mauro Atalla, Chief Technology & Sustainability Officer of Trane Technologies. 'We are proving that by embedding sustainability into our purpose, strategy and culture, it is possible to be a growth company, meet ambitious sustainability commitments and add value to customers by helping them meet their goals.' Trane Technologies' 2024 Sustainability Report includes a comprehensive set of data, aligned with leading sustainability frameworks, that showcases how centering sustainability in business generates positive outcomes for customers, investors, employees and society. Notable advancements made in 2024 toward Trane Technologies' 2030 Sustainability Commitments include (compared to 2019 baseline unless otherwise noted): A series of prominent awards, ratings and listings also recognized Trane Technologies for its industry-leading sustainability performance and company culture: Alongside its Sustainability Report, Trane Technologies published its Climate Transition Plan that outlines the company's forward-looking climate strategy, including its plans for managing physical and transition climate risks and opportunities, reducing carbon emissions in alignment with international climate agreements and preparing for future policy, market and technological changes. To read Trane Technologies' full 2024 Sustainability Report, visit About Trane TechnologiesTrane 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 This news release includes 'forward-looking statements' within the meaning of securities laws, which are statements that are not historical facts, including statements that relate to our 2030 Sustainability Commitments; our pathway to net-zero by 2050; our sustainability targets, goals, commitments and programs and their anticipated impacts; our product and service innovations; and other business plans, initiatives and objectives. 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. Factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2024, as well as our subsequent reports on Form 10-Q and other SEC filings. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. We assume no obligation to update these forward-looking statements. * Calendar year 2024 metric
Business Wire
6 days ago
- Business
- Business Wire
Trane Technologies Delivers Leading Business and Sustainability Performance by Reducing Customers' Energy Use and Carbon Emissions
SWORDS, Ireland--(BUSINESS WIRE)--Trane Technologies (NYSE: TT), a global climate innovator, is continuing to set the pace for decarbonizing buildings, industry and the cold chain by reducing energy use and carbon emissions for customers and in its own operations – while consistently delivering leading business and sustainability performance. Trane Technologies' 2024 Sustainability Report highlights the company's consistent execution, focused sustainability strategy and continued investment in innovation. 'We continue to advance sustainability by reducing energy use and emissions through our innovative thermal management systems, electrification and digital enablement for our customers and in our own operations,' said Dave Regnery, chair and CEO of Trane Technologies. 'Our customer solutions are green for green – good for the planet, and good for our customers' bottom line.' Trane Technologies has reduced customer carbon emissions by 237 million metric tons since 2019, on track to meet its Gigaton Challenge goal to reduce one gigaton (or, one billion metric tons) of customer carbon emissions by 2030. In 2024, the company launched 190 new products including a significant portfolio refresh with lower global warming potential (GWP) refrigerants. With high customer demand for sustainable solutions, the company delivered a fourth consecutive year of more than 20% adjusted EPS growth. 'We're setting the standard for what's possible in sustainable innovation. While demand for our sustainable solutions and manufacturing needs have increased, we've simultaneously reduced carbon emissions and environmental impacts in our operations,' said Mauro Atalla, Chief Technology & Sustainability Officer of Trane Technologies. 'We are proving that by embedding sustainability into our purpose, strategy and culture, it is possible to be a growth company, meet ambitious sustainability commitments and add value to customers by helping them meet their goals.' Trane Technologies' 2024 Sustainability Report includes a comprehensive set of data, aligned with leading sustainability frameworks, that showcases how centering sustainability in business generates positive outcomes for customers, investors, employees and society. Notable advancements made in 2024 toward Trane Technologies' 2030 Sustainability Commitments include (compared to 2019 baseline unless otherwise noted): Gigaton Challenge: Reduced 237 million metric tons of carbon – equivalent to the emissions generated from using nearly 27 billion gallons of gasoline – toward the Gigaton Challenge, a pledge to reduce one billion metric tons of carbon from product use emissions by 2030. Carbon Neutrality: Reduced operational emissions by 44%, on track toward reaching science-based target of 50% reduction by 2030. Absolute Energy: Reduced absolute energy use by 3.2% toward 10% goal, even as manufacturing and production demands increased in support of company growth. Renewable Energy*: Met global operational electricity demands with 68% renewable energy sources. Water and Waste: Reduced total water usage by 49% and by 27% at facilities in water-stressed regions and achieved zero waste to landfill at 80% of global manufacturing sites. Embodied Carbon: In 2024, announced an industry-first, precedent-setting commitment to reduce embodied carbon in our products by 40% by 2030. Culture and Workforce Development *: Achieved employee engagement score of 82 (out of 100), ranking in the top quartile among benchmarked companies. Increased participation in tuition advancement program by 28% compared to prior year with nearly 600 global employees receiving an aggregate value of $2.5 million dollars in tuition assistance. Volunteerism: Completed more than 92,000 employee volunteer hours*, totaling more than 329,000 total volunteer hours since 2019. A series of prominent awards, ratings and listings also recognized Trane Technologies for its industry-leading sustainability performance and company culture: Dow Jones Sustainability Index (14th consecutive year listed on North America Index, 4 th consecutive year on World Index) Just Capital's JUST 100 List (ranked 1 st in Buildings Materials & Construction industry and 6 th overall) CDP Climate Change 'A' List (3 rd consecutive year) Corporate Knights (ranked 26 th on the 2025 Global 100) Ethisphere® Institute's World's Most Ethical Companies (2 nd consecutive year) Fortune's World's Most Admired Companies (13 th consecutive year) Alongside its Sustainability Report, Trane Technologies published its Climate Transition Plan that outlines the company's forward-looking climate strategy, including its plans for managing physical and transition climate risks and opportunities, reducing carbon emissions in alignment with international climate agreements and preparing for future policy, market and technological changes. To read Trane Technologies' full 2024 Sustainability Report, visit 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 This news release includes 'forward-looking statements' within the meaning of securities laws, which are statements that are not historical facts, including statements that relate to our 2030 Sustainability Commitments; our pathway to net-zero by 2050; our sustainability targets, goals, commitments and programs and their anticipated impacts; our product and service innovations; and other business plans, initiatives and objectives. 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. Factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2024, as well as our subsequent reports on Form 10-Q and other SEC filings. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. We assume no obligation to update these forward-looking statements.
Yahoo
21-05-2025
- Business
- Yahoo
What To Expect From CSW's (CSWI) Q1 Earnings
Industrial products company CSW (NASDAQ:CSWI) will be reporting earnings tomorrow morning. Here's what to look for. CSW beat analysts' revenue expectations by 0.9% last quarter, reporting revenues of $193.6 million, up 10.7% year on year. It was a strong quarter for the company, with an impressive beat of analysts' EPS estimates and EBITDA in line with analysts' estimates. Is CSW a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting CSW's revenue to grow 10.4% year on year to $232.8 million, improving from the 7.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.22 per share. Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. CSW has missed Wall Street's revenue estimates three times over the last two years. Looking at CSW's peers in the hvac and water systems segment, some have already reported their Q1 results, giving us a hint as to what we can expect. AAON delivered year-on-year revenue growth of 22.9%, beating analysts' expectations by 10.9%, and Trane Technologies reported revenues up 11.2%, topping estimates by 5%. AAON traded up 6.1% following the results while Trane Technologies was also up 11%. Read our full analysis of AAON's results here and Trane Technologies's results here. There has been positive sentiment among investors in the hvac and water systems segment, with share prices up 17.2% on average over the last month. CSW is up 6.7% during the same time and is heading into earnings with an average analyst price target of $338 (compared to the current share price of $319). Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. Sign in to access your portfolio
