Bluon, a leading HVAC data and AI technology company, and American Residential Services (ARS/Rescue Rooter), one of the nation’s largest providers of air conditioning, heating, plumbing, and electrical services, today announced a strategic partnership to significantly enhance ARS’s service capabilities through OCR technology, equipment documentation, advanced data enrichment, and AI-powered technical support.

ARS views the Bluon integration as a key part of its commitment to leverage AI and cutting-edge technology to deliver best-in-class home services with maximum productivity and efficiency. This development project represents a significant investment by ARS into improving their field technicians’ capabilities, capacity, and service quality.

The partnership and integration provide ARS’s nationwide network of technicians and support staff with access to Bluon’s comprehensive, brand agnostic HVAC equipment database and AI-powered troubleshooting assistant, MasterMechanic. The agreement represents one of the most significant technology integrations in the residential HVAC service industry.

“This partnership with Bluon represents a significant step forward in our commitment to equipping our technicians with the most advanced tools in the industry,” said Scott Boose, CEO of American Residential Services. “By integrating Bluon’s extensive database and AI technology into our operations, we’re not only enhancing our technical capabilities but also ensuring faster, more accurate service for millions of customers nationwide.”

Key elements of the partnership include:

• Comprehensive Data Enrichment: Bluon will clean, normalize, and enrich ARS’s enormous database of millions of HVAC equipment records, adding critical technical specifications, age, and warranty status.
• AI-Powered Technical Support: ARS technicians will gain access to Bluon’s MasterMechanic AI tool, which provides instant, conversational diagnosis and troubleshooting guidance derived from Bluon’s proprietary tech support training data collected over 5+ years and 135,000 tech-to-tech interactions.
• Advanced Equipment Identification: Integration of Bluon’s OCR scanner technology will allow ARS technicians to instantly identify equipment by scanning nameplates, providing immediate access to technical specifications, original manuals, troubleshooting guides, and wiring diagrams.

“This partnership with ARS represents a major milestone for Bluon, as we are deploying our newly developed, easily deployed, SDK plugin directly into ARS’s FSM platform – showcasing our ability to integrate the power of Bluon’s database and AI Tech support into any platform in weeks, not months,” said Peter Capuciati, CEO of Bluon.

The implementation is expected to be completed by early Spring 2025, with ARS technicians nationwide gaining access to the full suite of Bluon’s technology solutions. The partnership is projected to help ARS navigate the skilled labor shortage plaguing the HVAC services industry while significantly improving first-time fix rates and reducing diagnostic times.

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Platinum Equity, a leading global investment firm renowned for its expertise in mergers, acquisitions, and strategic growth investments, has announced its significant investment in Global The Source, a prominent distributor of HVACR (heating, ventilation, air conditioning, and refrigeration) products. This partnership marks a pivotal moment for the HVACR industry, as it aims to amplify Global The Source’s capabilities and market presence.

Global The Source, based in Dallas, Texas, has earned a stellar reputation for its comprehensive distribution network and unwavering commitment to serving HVACR professionals. The company offers an extensive range of products, including compressors, motors, controls, and tools, supporting contractors and service providers across the United States.

The partnership with Platinum Equity is expected to enhance Global The Source’s operational efficiency, expand its product offerings, and accelerate its growth trajectory. The investment aligns with Platinum Equity’s strategy of leveraging its operational expertise to drive growth and innovation in the companies it invests in.

A Vision for Growth and Market Expansion
Jacob Kotzubei, Partner at Platinum Equity, expressed his enthusiasm for the deal:
“Global The Source has a strong foothold in the HVACR distribution space, and we see significant opportunities to further scale the business. Our investment will focus on expanding their geographic reach, diversifying their product portfolio, and supporting their commitment to exceptional customer service.”

The investment underscores the increasing demand for HVACR products and services, fueled by trends like the growing emphasis on energy efficiency, the shift toward sustainable building solutions, and the need for reliable climate control systems across residential, commercial, and industrial markets.

Strengthening the HVACR Industry
Global The Source plans to leverage Platinum Equity’s extensive resources and industry expertise to strengthen its competitive edge. This collaboration is set to provide HVACR professionals with even greater access to high-quality products and advanced solutions, ensuring they can meet the evolving needs of their customers efficiently.

This strategic move by Platinum Equity reflects the ongoing consolidation in the HVACR sector, where companies are positioning themselves to capitalize on market growth while addressing challenges such as supply chain disruptions and increasing regulatory demands.

About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm managing a portfolio of businesses across diverse industries. With over $36 billion in assets under management, the firm is known for its focus on operational excellence and transforming companies to maximize value.

About Global The Source
Global The Source has been a trusted distributor of HVACR products for over 20 years. With a commitment to providing exceptional service and high-quality products, the company has established itself as a key player in the HVACR industry.

This partnership is poised to set new benchmarks in the HVACR distribution landscape, ensuring that both companies continue to deliver value and innovation to their stakeholders.

Venkat

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BIDDEFORD, Maine, Sept. 13, 2024

The Biddeford Regional Center of Technology (BRCT) is opening its newly expanded vocational wing, equipped with innovative mock hotel rooms and culinary spaces. The expansion aims to provide students with immersive learning experiences that prepare them for careers in trades such as plumbing, carpentry, and hospitality.

Along with advanced equipment, BRCT is prioritizing student and staff health by partnering with ThinkLite Air for best-in-class indoor air quality (IAQ) management. The school installed ThinkLite Flair IAQ monitors and Purilux units in the new wing, ensuring continuous air quality detection, reporting, and improvement to create a healthier and safer environment.

Meeting the New Standard for IAQ Post-COVID

Throughout the COVID-19 pandemic, schools made significant investments to reduce infections, but proving their long-term effectiveness has been challenging. Biddeford Schools Superintendent Jeremy Ray views this pilot project as a transformative step in promoting the well-being of students and staff.

“Being a high-profile school, it’s essential for us to set the standard in indoor air quality, not just for the safety of our students and staff but also to communicate our results effectively to the community. We needed a solution that was affordable, energy-efficient, and space-saving to fit seamlessly into our environments. ThinkLite Air delivered exactly that, providing tools to monitor and improve air quality in real-time,” said Ray.

The ThinkLite Air Purilux units, installed in the culinary section, combine energy-efficient LED lighting with air purification. The ThinkLite Air Flair monitor offers real-time IAQ data, empowering school officials to measure and share results with students, staff, parents, and the community.

Energy Efficiency Meets Indoor Wellness

ThinkLite Air’s Purilux units not only improve IAQ but also align with ASHRAE guidelines by supplementing or reducing HVAC system usage, enhancing air treatment and reducing energy consumption.

Kevin Roche, Principal of DI Manufacturing Solutions, emphasized the long-term benefits: “Biddeford Schools are setting a new standard for wellness and sustainability in education. The energy savings from the Purilux units are just as impressive as the air purification.”

Looking Ahead: Continued Partnership and Expansion

Biddeford Schools plans to expand their partnership with ThinkLite Air to enhance IAQ across more campuses, including Biddeford High School in 2025 and a new facility in 2026. This effort aligns with the school’s commitment to wellness and sustainability through space-saving, energy-efficient technology.

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LG Electronics (LG) is unveiling the LG ThinQ ON AI home hub featuring Affectionate Intelligence at IFA 2024 in Berlin, Germany, from September 6-10. This innovative hub provides outstanding connectivity and expandability, positioning itself as the centerpiece of a comprehensive smart home ecosystem, where LG’s appliances and “empathetic” AI work in unison to deliver customized comfort, care and convenience.

The AI home hub seamlessly connects with a vast array of appliances and Internet of Things (IoT) devices, making it easy for anyone to configure and enjoy a personalized AI-powered home. Powered by LG’s unique Affectionate Intelligence, the ThinQ ON continuously learns from individual usage patterns and broader usage trends to tailor customers’ daily experiences, accelerating the realization of LG’s “Zero Labor Home” vision.

Compact and lightweight, LG ThinQ ON features a cylindrical form factor and a muted color palette (gray/white) that allows it to blend effortlessly with any space or décor. The device is equipped with an AI speaker that facilitates conversations with LG’s AI voice assistant and lets users listen to their favorite audio content. The ThinQ ON’s advanced capabilities are driven by LG’s high-performance AI chipset, designed with future scalability in mind.

Generative AI-based Home Solutions Tailored to Each Customer’s Preferences

The ThinQ ON allows users to control their AI appliances and living spaces with spoken commands or requests delivered in a natural, conversational manner. This creates an experience akin to conversing with friends or family, adding a more human dimension to user-device interactions.

In addition to comprehending everyday language, LG’s AI home hub can understand the context of conversations and determine user preferences for each connected appliance, IoT device and service; bringing a new level of “care” to the home. What’s more, the ThinQ ON autonomously monitors all elements within the smart home ecosystem, helpfully informing users when a task is completed (e.g., the washer has finished a cycle) or if any issue had been detected.

On top of this, ThinQ ON makes it possible to check or change nearly all appliance settings using only voice commands and configure convenience-enhancing routines that automate appliance/IoT operations.

Connectivity, Expandability and Versatility

LG ThinQ ON is Matter-certified^* and supports various network connectivity options, including Wi-Fi and Thread, ensuring hassle-free setup and a seamless smart home experience. Compatible with a wide range of LG innovations and a growing number of appliances and IoT devices from other manufacturers, the ThinQ ON enables users to manage their entire smart home ecosystem from one place, both now and in the future.

To further enhance the connectivity of the ThinQ ON, LG acquired the smart home platform company Athom in July of this year. Athom’s flagship smart hub, Homey Pro, can connect to over 50,000 devices. The Homey App Store features around 1,000 applications for connecting and controlling products from various global brands. LG plans to maximize the advantages of the ThinQ ON’s open platform by continuously expanding the range of supported brands and devices.

Enhanced Security and Privacy Protection with LG Shield

The ThinQ ON utilizes LG Shield, the company’s proprietary security system, to protect customer data at all times – from collection and storage to usage. LG Shield encrypts user data and securely stores it in a separate server. Additionally, data modifications required are made within a secure environment, preventing external parties from tampering with the operational code and ensuring customers’ safety while they enjoy the many benefits of LG’s latest AI-driven innovations.

“An AI voice assistant and hub that serves as the center of the smart home, ThinQ ON brings us significantly closer to realizing our vision of the Zero Labor Home,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. “LG aims to make the ‘AI Home Lifestyle’ accessible to everyone, and will continue to deliver customized comfort, care and convenience through its Affectionate Intelligence solutions.”

Visitors to IFA 2024 (September 6-10) can see all of LG’s latest AI Home solutions, including ThinQ ON, at the company’s exhibition booth in Hall 18, Messe Berlin.

* Matter is the globally-adopted smart home connection protocol developed by the Connectivity Standards Alliance (CSA), of which LG Electronics is a member.

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In Singapore, where tropical heat and humidity are constant, air conditioning is more than a luxury; it is a need. Air conditioners (also known as aircons) are essential for preserving comfort in homes, offices, and public spaces. However, regular maintenance is required to keep your air conditioning devices functioning efficiently. In this detailed article, we’ll look at the significance of aircon servicing in Singapore, what it comprises, and how to select the best service provider. Before that, a list of the best air conditioning service providers is listed below.

Top Air Con Service Providers in Singapore

Why Regular Air Con Service is Essential?

Air conditioning machines work tirelessly to cool and dehumidify the air in Singapore’s hot climate. Dust, grime, and other pollutants can accumulate in the system over time, lowering efficiency and potentially causing malfunctions.

Aircon Services in Singapore

Singapore offers a variety of air conditioning services, each tailored to a unique requirement.

General Servicing: This includes cleaning the unit’s filters, coils, and exterior, as well as ensuring that the system functions properly. It is usually recommended every three to four months.

Chemical cleaning is a more comprehensive cleaning method that entails disassembling the device and washing the components with a chemical solution to remove stubborn dirt and grime. This is appropriate for machines that have not been serviced frequently.

Chemical Overhaul: A chemical overhaul is a thorough service that includes disassembling the unit, cleaning its components with chemicals, and inspecting the system for problems. This is advised for units that have not been maintained for a long time.

Air conditioning gas refill: When refrigerant levels go low, a gas top-up is required to restore the unit’s cooling efficiency.

Troubleshooting and Repair: If your air conditioner is making weird noises, spilling water, or not cooling effectively, a technician can diagnose and resolve the issue.

How to Choose the Right Air Conditioning Service Provider in Singapore?

With so many aircon service providers in Singapore, choosing the best one might be difficult. We have provided basic costs involved for Air Con service per unit.

Air Con Service Pricing in Singapore

General servicing: SGD 40 to SGD 60 per unit.
Chemical Cleaning: SGD 70 to SGD 120 per unit.
Chemical overhaul: SGD 150 to SGD 300 per unit.
Gas top-up: SGD 60 to SGD 150, depending on the type of refrigerant.

While it may be tempting to go with the cheapest choice, keep in mind that exceptional service is often more expensive. Investing in frequent, professional air conditioning service can save you money in the long term by avoiding costly breakdowns and increasing the life of your unit.

The best time to service your air conditioner in Singapore

Given Singapore’s year-round heat, air conditioning machines are always in use. To ensure best performance, plan air conditioning service every three to four months. However, if your machine is heavily used, such as in a business setting, it may require more frequent servicing. It’s also a good idea to service your air conditioner before the warmer months to guarantee it can withstand the additional demand.

Best Air Con Service Provider in Singapore

In Singapore, where air conditioning is a lifeline against the oppressive heat, frequent maintenance is critical for maintaining comfort and efficiency. Understanding the necessity of air conditioning service, the different types of services offered, and how to select the best service provider will help you keep your air conditioner in good working order all year.

Whether you require a simple filter cleaning or a complete chemical overhaul, investing in regular air conditioning service will result in cheaper energy bills, better air quality, and a machine that lasts longer. Remember that a well-maintained air conditioner not only keeps you cool, but also helps to create a healthier and more comfortable living environment.

For dependable air conditioning service in Singapore, find a company who provides quality, transparency, and exceptional customer service—because when it comes to remaining cool, you deserve nothing less.

HVAC and ACMV Service Providers in Singapore

Singapore’s home and business areas depend on HVAC and ACMV service providers for comfort and health. These specialists install, repair, and maintain tropical air conditioning and ventilation systems in the city. Singapore’s HVAC and ACMV expertise keep high-rise commercial buildings and residential homes cool, clean, and energy-efficient, improving population health and urban sustainability.

Venkat

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LG Electronics (LG) is introducing its brand-new stick vacuum cleaning solution, LG CordZero All-in-One Tower Combi, alongside its newest ‘all-in-one’ robot vacuum and mop at IFA 2024. The All-In-One Tower Combi redefines storage, charging and style while making everyday cleaning simpler and more efficient by combining the CordZero A9X stick vacuum with the CordZero R5 robot vacuum. The company’s latest robot vacuum and mop features a comprehensive system that handles floor cleaning, mopping, dust emptying, water refilling and automatic mop washing.

Streamlined Cleaning with the All-in-One Tower Combi

The innovative All-in-One Tower Combi solution features the Dual Auto Empty function, which automatically empties the dustbins of both the stick and robot vacuums. When docked, both devices are charged to ensure they are always ready to clean. The sleek, compact docking station serves as a central hub for all vacuuming needs, taking up minimal space and even featuring a UVC LED to help prevent bacteria from growing inside the disposable dust bag.^[1]

The CordZero A9X incorporates LG’s Smart Inverter Motor, designed to provide powerful and reliable cleaning performance every time. The motor’s rapid spinning action generates a strong suction that picks up dirt, dust and debris with ease. Moreover, the stick vacuum uses KOMPRESSOR technology, which compresses dirt and debris to increase bin capacity and reduce the frequency of emptying the dustbin. The vacuum also features Spray Mop for efficient mopping on hard floors.

For a thorough and efficient cleaning experience, the LG CordZero R5 robot vacuum is equipped with a mop that allows it to vacuum and mop simultaneously. This is facilitated by an automatic water supply system from the embedded water tank that keeps the mop wet, eliminating the need for frequent trips to a water source. What’s more, the robot vacuum employs a 360 LiDAR sensor to navigate obstacles and furniture, potentially preventing accidents like a fall down the stairs.^[2]

Next-Generation Robot Vacuum with Extensive Cleaning Capabilities

LG is also bringing its ‘all-in-one’ robot vacuum and mop to the IFA show floor. This cutting-edge vacuum employs automatic mop cleaning and drying to reduce maintenance work and an automatic water supply system that fills and empties the water tank without user intervention.^[3] To ensure the vacuum stays clean and fresh without any hassle, the vacuum automatically dispenses the cleanser when washing the mop.  

The advanced robot vacuum uses LiDAR to precisely map out routes and a front camera that works in unison with 3D and several other sensors, which recognize up to 96 objects, making obstacle navigation effortless. The robot vacuum effectively cleans dust with a powerful motor that delivers strong vacuum power of up to 10,000 pascals (Pa),^[4] while its rotating mop ensures thorough mopping by spinning at 180 revolutions per minute (rpm). The intelligent vacuum can even detect carpets, increasing suction power and lifting its mop to clean more effectively over these rougher surfaces.  

To help consumers minimize odors from the product, LG has developed all-in-one robot vacuums that combat unpleasant odors from the wastewater after mop cleaning. This comprehensive cleaning solution automatically dispenses cleaner when washing the mop and dries it with hot air. This process reduces the formation of foul-smelling compounds, such as methyl mercaptan and dimethyl disulfide, in the water container storing used water after mopping by approximately 30 percent.^[5] Additionally, LG’s Secure Development Lifecycle (LG SDL) predicts and addresses security risks checked throughout every stage of product development.

“We have merged the cleaning and maintenance process into one to deliver the convenient and effortless user experience consumer’s desire,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. “We are fully committed to introducing a steady stream of innovative home appliances that exceed all expectations, with a strong focus on constantly redefining the seamless user experience.”

LG’s latest cleaning solutions, including the A9X All-in-One Tower Combi and robot vacuum and mop, among other home appliance solutions will be on display at the company’s IFA 2024 exhibition booth (Hall 18, Messe Berlin) in Berlin, Germany, from September 6-10.

Venkat

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LG Electronics (LG) is unveiling its all-new Therma V R290 Monobloc 7- and 9-kilowatt (kW) air-to-water heat pumps (AWHP) at IFA 2024 in Berlin, Germany, from September 6-10. Following the successful launch of the large capacity models (12, 14, 16kW) at last year’s IFA, the new Therma V models come with an advanced compressor that unlocks greater efficiency and a more sophisticated design that blends seamlessly into the surroundings.

With the mandatory implementation of Nearly-Zero Energy Buildings (NZEB) standards across Europe,¹ AWHPs are gaining popularity for their ability to reduce carbon emissions and handle energy supply uncertainties. For new constructions, medium- and small-capacity models are more suitable, making LG’s new 7- and 9 kW models ideal for the European market. Additionally, LG is establishing an Air Solution Research and Development (R&D) Lab in Frankfurt, Germany, to develop high-efficiency heating, ventilation, and air conditioning (HVAC) solutions tailored to Europe’s diverse local climates.

Highly Efficient Operation
Proactively responding to tighter F-gas regulations² and Europe’s preference shifting from traditional boilers to AWHPs, LG has adopted the R290 refrigerant for its Therma V R290 Monobloc. This natural refrigerant boasts a Global Warming Potential (GWP) of 3, far lower than the refrigerants commonly used in heating solutions. With an energy rating of A+++,³ this advanced solution reduces carbon emissions by up to 79 percent compared to conventional boilers by sourcing its energy from heat in the air.⁴ Customers upgrading to the Therma V can expect to increase their household energy efficiency significantly.⁵

The latest Therma V AWHP leverages LG’s advanced compressor to unlock new levels of energy efficiency and performance in colder climates. The lower positioning of the compression process helps ensure a more stable operation and smaller energy bills, while the system enables a water output of up to 75 degrees Celsius, even when it is minus 15 degrees Celsius outside.

Courtesy of the all-new compressor, both AWHP models operate at a quiet 49 dB(A) at 7kW and 50 dB(A) at 9kW.^6,7 LG’s Shaft Through structure enhances stability and reduces friction, thereby minimizing noise and vibration, particularly during low-load operation. What’s more, the upgraded biomimetic innovations all contribute to the fan’s quiet operation.

A More Sophisticated Design
Therma V R290 Monobloc features a sleek one-fan design that effortlessly harmonizes with various home designs and building exteriors. The outer casing of LG’s latest AWHP solution uses a sophisticated black tone that complements any color, while the unit’s grille features a distinctive wave pattern and understated dark grey finish. Its compact design allows it to fit under most windows without obstructing the view, making it a practical, aesthetically pleasing addition to any property.

Smart and Simple Integration
LG’s new AWHPs are designed to seamlessly integrate with various indoor units through simplified installations, enhanced flexibility and customized options – control, hydro and combi units – that cater to different installation environments. The streamlined design guarantees a more efficient, hassle-free set up, while the company’s Building Energy Control (BECON) cloud lets the installer or service partner update its firmware remotely, saving time and effort.⁸ Additionally, the new models offer easy and convenient control and energy monitoring through LG’s ThinQ, creating an integrated Home Energy Platform with Energy Storage System (ESS).

“LG’s latest Therma V R290 Monobloc offers Europeans a broader range of capacity options while delivering enhanced performance and user comfort,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. “LG will continue leveraging its differentiated competitiveness in high-efficiency energy technologies and key component solutions to offer a product lineup tailored to regional needs.”

Attendees can visit LG’s booth (Hall 18, Messe Berlin) between September 6 and 10, where they can explore the company’s latest energy-efficient innovations for a better life.

Venkat

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Top 20 HVAC service providers in Sioux Falls, South Dakota

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The HVAC sector in India is undergoing substantial growth due to the fast urbanization, increased disposable incomes, and growing awareness of energy efficiency. With ongoing infrastructure development and improving living standards, the need for HVAC systems is expected to increase. This blog offers a analysis of the present condition of the HVAC business in India, delves into emerging patterns, and emphasizes potential prospects in the future.

The present condition of the HVAC industry in India is characterized by its market size and growth.
The current valuation of the Indian HVAC industry stands at around USD 11 billion as of 2024, with a projected compound annual growth rate (CAGR) of over 10% over the next five years. The increase is driven by various factors, including as the rise of the real estate industry, government measures to promote energy-efficient systems, and a growing preference for intelligent HVAC solutions.

India’s air conditioning sector is poised to grow

In India, the HVAC sector is divided into three segments: heating, ventilation, and air conditioning. Out of these, the air conditioning sector holds the largest share in the market, contributing to more than 60% of the whole revenue. The high demand for cooling solutions in various sections of the country is mostly attributed to the hot and humid climate prevalent in certain areas. In northern India, the heating sector is experiencing growth due to the increasing need for heating systems caused by severe winters.

Key participants in India’s HVAC and ACMV Industry

The HVAC market in India is characterized by intense competition, as both domestic and international companies strive to get a larger portion of the market. Notable corporations in this industry comprise the following companies.

1.Blue Star India

2.Voltas

3.Daikin India

4.LG India

5.Samsung, and

6.Carrier.

These companies are prioritizing innovation, energy efficiency, and smart technologies as key strategies to distinguish themselves in the market.

Emerging trends in the Indian HVAC industry

1.India is focussing on energy efficiency and sustainability

An important development in the HVAC sector is the increasing focus on energy efficiency and sustainability. Due to escalating electricity expenses and growing environmental apprehensions, individuals and companies are seeking HVAC systems that limit energy usage and decrease carbon footprints. This tendency is additionally reinforced by government programs, such as the Bureau of Energy Efficiency’s (BEE) star rating system, which advocates for energy-efficient equipment.

2.Intelligent HVAC Solutions

Smart technologies are transforming the HVAC business in India. Smart HVAC systems, integrated with Internet of Things (IoT) functionalities, provide remote surveillance and regulation, proactive maintenance, and improved energy administration. These systems have the capability to be combined with smart home platforms, providing customers with more convenience and the ability to save energy.

3.Increasing demand for air purification

India has experienced a growing concern about air quality, especially in urban regions, in recent years. Consequently, there has been a rise in the need for HVAC systems that incorporate air filtration capabilities. Advanced filtration technologies, such as High Efficiency Particulate Air (HEPA) filters and Ultraviolet-C (UV-C) lamps, are increasingly being incorporated into HVAC systems as a regular feature. These technologies effectively remove contaminants from indoor air, resulting in improved air quality and enhanced general health.

4.Expansion of the Commercial HVAC Sector

The commercial HVAC market is experiencing substantial growth, fueled by the rise of commercial real estate, hospitality, healthcare, and retail industries. The demand for modern HVAC systems with zoned cooling and heating capabilities is increasing as businesses prioritize employee comfort and productivity.

Potential Growth in the HVAC Sector in India:

1. Advancement in Tier II and Tier III Urban Areas

Although metropolitan areas have traditionally been the main catalysts for the demand of HVAC systems, there is an emerging market potential in tier II and tier III cities. As these cities undergo economic expansion and witness enhanced living conditions, there is an anticipated increase in the demand for residential and commercial HVAC systems. Companies can access this unexplored market by providing cost-effective and energy-efficient products specifically designed for the requirements of these areas.

2.Environmental Construction Initiatives

The green building movement in India is growing rapidly, as more and more structures are actively pursuing LEED (Leadership in Energy and Environmental Design) certification. This trend provides a distinctive opportunity for HVAC firms to provide environmentally friendly solutions that are in line with green building regulations. Energy-efficient HVAC systems, in addition to the integration of renewable energy, can have a vital impact on attaining these certifications.

3.Retrofitting and Upgradation

Due to the government’s emphasis on energy efficiency, there is a substantial potential for improving and upgrading current HVAC systems through retrofitting. Numerous buildings, especially those of an older nature, are equipped with antiquated and ineffective systems. Installing contemporary, energy-efficient technologies in these systems can result in significant energy conservation and decreased running expenses.

4.Emphasize post-purchase services

In an increasingly competitive HVAC market, organizations can distinguish themselves by providing extensive post-sales services. This encompasses routine maintenance, prompt response times, and additional services like as extended warranties and system upgrades. An extensive after-sales service network has the potential to increase customer satisfaction and loyalty, thereby encouraging customers to make repeat purchases.

What are the opportunities for HVAC professionals and businesses in India?

The HVAC sector in India is set to experience strong expansion, propelled by reasons such as urbanization, growing affluence, and heightened awareness of energy efficiency. The industry is currently experiencing dynamic developments such as intelligent HVAC systems, air purification technology, and an increasing emphasis on sustainability. In the future, there are abundant prospects in tier II and tier III cities, retrofitting, green building efforts, and after-sales services.

The Indian HVAC market has a favorable environment brimming with opportunities for enterprises and investors. By remaining updated on developing trends and prioritizing innovation and customer service, organizations may take advantage of the growth potential in this ever-changing market. Given the increasing demand for comfortable and efficient interior environments, the HVAC industry will have a vital role in determining India’s future.

Venkat

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AAON, Inc. (NASDAQ: AAON), a leading manufacturer of HVAC systems, has reported a stellar financial performance for the second quarter of 2024, setting new records for sales, earnings, and backlog.

Net sales for the second quarter of 2024 increased 10.4% to a record $313.6 million from $284.0 million in the second quarter of 2023. The year-over-year increase was largely driven by the BASX segment, which recognized an increase in sales of 58.3%, a majority of which was spurred by sales of data center equipment.  Sales at the AAON Oklahoma and AAON Coil Products segments grew year-over-year 3.4% and 4.3%, respectively. 

Gross profit margin in the quarter expanded to 36.1%, up from 33.1% in the comparable quarter in 2023.  Gross margin expansion was a result of greater operational efficiencies at the AAON Oklahoma and AAON Coil Products segments as well as lower material costs across the organization. 

Earnings per diluted share for the three months ended June 30, 2024, were a record $0.62, up 12.7% from the second quarter of 2023. 

At June 30, 2024, we had a record backlog of $650.0 million, up sequentially for a third straight quarter.  Compared to a year ago, backlog was up 23.5% from $526.2 million, driven by the BASX and AAON Coil Products segments.  The increase in bookings for the quarter primarily related to solutions for the data center market.

Gary Fields, CEO, stated, “Our second quarter performance exceeded expectations.  Production issues from the first quarter were largely resolved, leading to increased volume output and productivity across all three segments.  This resulted in record quarterly sales and earnings. 

The BASX segment saw a significant rebound from the first quarter, with sales increasing 103.7%   and gross profit rising by 182.2%, quarter-over-quarter.  AAON Oklahoma and AAON Coil Products segments also realized sequential improvements.  Our operating margin in the quarter expanded to 21.4%, making it the most profitable quarter in the Company’s history.  We achieved these results with premium pricing and operating efficiencies, which drove our performance.”

Mr. Fields continued, “Bookings in the second quarter performed exceptionally well, resulting in a record backlog at the end of June.  The data center market continues to be robust and AAON is well positioned to take advantage of the growing opportunity.  Beyond the bookings that made up the backlog at quarter-end, there remains a large pipeline of data center projects for both airside and liquid cooling products that the Company is pursuing.  For AAON’s traditional packaged rooftop business, bookings in the first half of 2024 were up year-over-year, including in the second quarter.  However, growth moderated from prior years. 

This business is impacted more by the softening macro conditions and disruptions associated with the refrigerant transition, which is resulting in an increased amount of uncertainty regarding near-term demand.  Any softness in the rooftop market will be more than offset with our data center products.  We anticipate sales and earnings will improve in the second half of the year from the first half, mostly realized in the fourth quarter.”  

Mr. Fields concluded, “AAON is strategically positioned for long-term success.  As regulations and demands for higher quality HVAC equipment increase, AAON is becoming increasingly cost competitive.  Furthermore, the Company is leading the industry in the development of cold climate heat pumps. 

The opportunities within the data center market are vast and promising, which we anticipate will drive accelerated growth and further market share gains.  Consequently, we are investing in expanded production capacity through new facilities and enhanced output within our existing facilities.  Additionally, we continue to invest in our people and technology to effectively manage the business and adapt efficiently to the robust growth rates we are targeting for the long-term.”        

As of June 30, 2024, the Company had cash, cash equivalents and restricted cash of $12.1 million and a balance on its revolving credit facility of $85.9 million.  Rebecca Thompson, CFO and Treasurer, commented, “During the quarter, we completed our share repurchase program totaling $100.0 million. 

This initiative reflects our confidence in the long-term prospects of the Company and our commitment to delivering value to our shareholders.  Looking ahead, we remain focused on executing our growth strategy with continued investments in capex and maintaining a healthy balance sheet through disciplined financial management.” 

Venkat

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