Trane acquires leading energy storage company
November 29, 2017
Trane, a global provider of indoor comfort systems and services and a brand of Ingersoll Rand, 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. The energy efficient thermal storage systems reduce energy usage by roughly 35 per cent 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, NJ.