International. The recent acquisition of Johnson Controls will allow it to offer, especially in Europe, high-temperature industrial heat pumps, as well as fast-growing district heating.
The reason Johnson Controls (JC) acquired Hybrid Energy is because it has a unique technology that will help deliver new and cost-effective solutions to end customers, while contributing to JC's stated decarbonization and sustainability efforts in Europe and beyond.
To understand it better, it is necessary to mention that Hybrid Energy AS is a provider of high temperature energy management whose solutions focus on heat pumps for district heating and industrial processes.
A relevant fact is that Hybrid Energy solutions can reach temperatures above 100 degrees Celsius using ultra-low GWP refrigerants.
Nordic Technology Group AS (NTG) agreed to sell its shares of subsidiary Hybrid Energy AS with Johnson Control. This purchase included 100% of NTG's shares and minority shareholders.
Claude Allain, president of Johnson Controls HVAC/R and Data Centers, commented:
"It's an exciting time in our industry as we come together to bring to market the next generation of sustainable and safe energy management technologies. Hybrid Energy is well positioned in its ability to deliver process heating at extremely high temperatures while maintaining energy efficiency, and with Johnson Controls' reach and resources, we will be able to solve the challenges of more customers. As we help reduce energy consumption in buildings, our customers will benefit from a single, reliable source for heating solutions."
Simply put, Hybrid Energy, headquartered in Lysaker, Norway, will add to Johnson Controls' capacity, specifically addressing high-temperature heating requirements with a hybrid heat pump at its core.
Another big benefit is that solutions like Hybrid Energy's will help the European Union reduce greenhouse gas emissions by 55% by 2030 and achieve the climate-neutral Green Deal by 2050, while reducing dependence on fossil fuels. That is, it is in line with environmental sustainability policies.
Rune Rinann, CEO of Nordic Technology Group AS, commented:
"With many countries diversifying energy sources, now is the time for clean energy technologies to be available for use on a global scale. Between Hybrid Energy's unique heat pump technologies, the reach and capability of Johnson Controls, and the collective brainpower of both, we will help promote a sustainable future by setting the standard for high-temperature industrial heat pumps."
Finally, Johnson Controls International PLC stated in an official statement, regarding the acquisition of Hybrid Energy, that the terms are forward-looking and therefore subject to risks and uncertainties. Financial details of the transaction were not disclosed.