Expansions

January 26, 2023

• Acquisition will allow Johnson Controls to give significant-temperature heat pumps in speedily expanding district heating and industrial marketplaces, particularly in Europe
• Patented know-how can realize temperatures higher than 100 levels Celsius working with ultra-lower-GWP organic refrigerants
• Enlargement of temperature assortment featuring extends the company’s escalating industrial heat pump portfolio

Johnson Controls (NYSE: JCI), the global leader for good, healthful and sustainable buildings, introduced that it acquired Hybrid Power AS, a growing company of high-temperature electrical power administration answers with a aim on heat pumps for district heating and industrial procedures. The distinctive technological know-how of Hybrid Energy will give new, price tag-efficient alternatives to shoppers even though addressing decarbonization and sustainability initiatives in Europe and past.

Hybrid Power alternatives can reach temperatures higher than 100 levels Celsius using extremely-low-GWP refrigerants.

“It’s an remarkable time in our business as we occur collectively to bring the next generation of harmless, sustainable strength administration systems to marketplace,” suggests Claude Allain, president, Johnson Controls HVAC/R and facts centers. “Hybrid Vitality is very well positioned in its means to provide very higher-temperature procedure heating when preserving electrical power efficiency – and with the access and sources of Johnson Controls, we will be ready to address the worries of more clients. As we help minimize the strength consumption in properties, our consumers will gain from a one, trustworthy source for heating answers.”

Hybrid Power, centered in Lysaker, Norway, will increase to the skill of Johnson Controls to address substantial-temperature heating necessities with a hybrid heat pump as its core. Through patented technology, Hybrid Electrical power alternatives can achieve temperatures greater than 100 levels Celsius employing ultra-reduced-world wide warming likely natural refrigerants. With rapidly raising current market probable, solutions these types of as all those of Hybrid Vitality will assist the European Union cut down greenhouse gasoline emissions 55 % by 2030 and obtain the Environmentally friendly Deal of getting climate neutral by 2050, all when lessening reliance on fossil fuels.

“With many nations around the world diversifying electrical power resources, now is the time for clean electrical power systems to develop into out there for use on a world wide scale,” claimed Rune Rinann, main govt officer of Nordic Technological innovation Team AS. “Between Hybrid Energy’s one of a kind warmth pump technologies, the arrive at and capability of Johnson Controls and the collective mind electrical power from each, we’ll support advance a sustainable long run by location the standard for substantial-temperature industrial warmth pumps.”

Financial terms of the transaction were not disclosed.

Johnson Controls Global plc Cautionary Statement Pertaining to Forward-Searching Statements

Johnson Controls Intercontinental plc has made statements in this conversation about the acquisition of Hybrid Strength that are forward-on the lookout and hence are subject matter to pitfalls and uncertainties. All statements in this doc other than statements of historic reality are, or could be, “forward-wanting statements” within just the which means of the Private Securities Litigation Reform Act of 1995. Phrases this kind of as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “forecast,” “project” or “plan” and phrases of similar that means are also frequently meant to establish ahead-looking statements. Even so, the absence of these phrases does not imply that a statement is not ahead-on the lookout. Johnson Controls cautions that these statements are matter to several critical dangers, uncertainties, assumptions and other variables, some of which are over and above Johnson Controls’ command, that could induce the predicted affect of the acquisition of Hybrid Electricity to differ materially from all those expressed or implied by this sort of ahead-seeking statements, incorporate, among other people, hazards relevant to the capability to comprehend the expected advantages of the acquisition, which include the possibility that anticipated synergies will not be realized or will not be recognized in the anticipated time body delays in the productive integration of Hybrid Electrical power and its technologies unfavorable reaction to the acquisition by shoppers, competition, suppliers and employees, disruption from the transaction making it additional tricky to retain small business and operational interactions significant transaction prices and mysterious liabilities.

Other things that could result in Johnson Controls’ actual results to differ materially from those expressed include things like, among the other folks challenges included in the segment entitled “Risk Factors” in Johnson Controls’ Yearly Report on Kind 10-K for the 2021 fiscal 12 months filed with the SEC on November 15, 2021, which is obtainable at www.sec.gov and www.johnsoncontrols.com under the “Investors” tab. The description of sure of these risks is supplemented in Product 1A of Part II of Johnson Controls’ subsequently submitted Quarterly Reports on Variety 10-Q. Shareholders, probable investors and other individuals must contemplate these elements in evaluating the forward-seeking statements and should really not position undue reliance on these kinds of statements. The forward-seeking statements provided in this communication are created only as of the day of this doc, except if in any other case specified, and, apart from as required by law, Johnson Controls assumes no obligation, and disclaims any obligation, to update such statements to reflect situations or instances developing after the day of this conversation.

About Johnson Controls:

At Johnson Controls (NYSE:JCI), we completely transform the environments where people live, work, master and play. As the world leader in sensible, wholesome and sustainable properties, our mission is to reimagine the overall performance of structures to provide individuals, places and the planet.

Setting up on a proud history of nearly 140 a long time of innovation, we provide the blueprint of the long term for industries these kinds of as health care, schools, info facilities, airports, stadiums, producing and outside of by means of OpenBlue, our extensive digital supplying.

Currently, with a world-wide workforce of 100,000 specialists in more than 150 nations around the world, Johnson Controls delivers the world’s premier portfolio of constructing engineering and software package as effectively as assistance methods from some of the most trustworthy names in the field.

Take a look at www.johnsoncontrols.com for a lot more data and adhere to @JohnsonControls on social platforms.

Pay a visit to here to find out much more about Hybrid Vitality.