SEOUL, June 20, 2024
LG Electronics (LG) is establishing a global R&D triangle connecting North America, Europe and Asia to lead the global heat pump market and secure next-generation heat pumps specifically designed for cold climate zones. The company aims to develop regionally specialized core technologies optimized for the cold climate of Northern Europe through the establishment of the European Consortium for Advanced Heat Pump Research (ECAHR).
After establishing the LG Advanced Cold Climate Heat Pump Laboratory in Alaska last year, the company plans to intensify its efforts to enhance the efficiency of its Heating, Ventilation, and Air Conditioning (HVAC) products in low-temperature climates. This collaboration with leading European universities follows that. In August, LG will collaborate with a prestigious Chinese university to conduct further research on cold climate heat pumps in Harbin.
LG inaugurated the consortium on June 18th through a formal signing ceremony held at the main auditorium of Oslo Metropolitan University in Norway. Members of this group include the Norwegian University of Science and Technology (Norges Teknisk-Naturvitenskapelige Universitet), Oslo Metropolitan University, and the University of Naples Federico II, which is an Italian institution that actively conducts research on HVAC systems in cold climates.
During the winter of this year, Northern Europe experienced record-breaking cold weather, with temperatures dropping below minus 40 degrees Celsius. In these regions, achieving high heating efficiency is challenging due to the difficulty of compressing refrigerants at lower pressures. To address this, LG established a consortium to develop heat pumps that deliver top-tier heating performance even in extreme cold conditions.
Furthermore, the company is looking to enhance its core technologies to lead global electrification efforts and expand supplemental heating availability in Europe.
In 2022, the EU launched the REPowerEU plan, aiming to reduce dependence on Russian fossil fuels and expand new and renewable energy sources by 2030. As a result, the demand for high-efficiency electric appliances and heat pump heating and cooling systems has surged across Europe, fueling efforts to lower energy consumption and achieve carbon neutrality.
What’s more, LG is in the process of establishing a comprehensive local operation system for its HVAC business, which is expected to drive growth in its business-to-business (B2B) operations. The system covers all stages locally, from research and development to sales, maintenance and operations.
In the announcement of LG’s Future Vision 2030 last year, CEO William Cho highlighted B2B capability enhancement as one of three major growth factors. Aligning with this vision, the HVAC business has set an ambitious goal to more than double its sales by 2030 and become a top-tier global heating and cooling company.
“We aim to expand our presence around the world by developing next-generation heat pump technology tailored to the diverse climate conditions of each region,” said James Lee, head of the Air Solution Business Unit at LG Electronics Home Appliance & Air Solution Company. “We will continue to expand our footprint in the global market, adding value to drive growth in our HVAC business.”
Venkat