Ingersoll-Rand announced it has completed the acquisition of CALMAC Corporation, a privately held company specializing in thermal energy storage solutions.
CALMAC thermal energy storage solutions will be integrated with Ingersoll-Rand’s Trane building controls platform, helping to take the pressure off the energy grid.
The system operates similar to a battery, and uses the energy it stores 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, the company said.
Donny Simmons, president of the Trane Commercial HVAC business of Ingersoll Rand, said, “With the acquisition of CALMAC we are well positioned to offer customers even greater choices for managing energy and operating costs and capitalizing on the multi-billion dollar energy services market.”
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 U.S. such as Rockefeller Plaza and the Credit Suisse Building in New York City and an Ingersoll Rand North America headquarters building in Davidson, the company added.
The value of this acquisition was not disclosed or material.
Rajani Baburajan
editor@greentechlead.com