Trane Technologies Advances Transformational Heat Pump Technologies to Decarbonize America’s Industrial Sector

• Company collaborates with universities and national lab on innovative projects awarded grants from the U.S. Department of Energy
• Industrial sector accounts for one-third of all energy-related domestic GHG emissions

Trane Technologies (NYSE: TT), a global climate innovator, today announced its participation in three projects accelerating next-generation heat pump efficiency to reduce energy and emissions across multiple industrial sectors.

These projects were recently awarded U.S. Department of Energy (DOE) grants for the research and development of transformational technologies aimed at decarbonizing heavy industry.

Industrial heat pumps can provide a path to the electrification of high-temperature heating processes and offer an alternative to using fossil fuel combustion in the production of cement, food and beverage, chemicals, and other carbon-intensive industries.

“We are relentlessly innovating smart solutions for a net-zero future and helping to answer the call for deploying climate solutions at-scale,” said Paul Camuti, executive vice president and chief technology and sustainability officer of Trane Technologies. “We look forward to working with our research partners as we continue to challenge what’s possible for a more sustainable world.”

Lead research partners and project descriptions:

• DOE’s Oak Ridge National Laboratory – Develop and test an ultra-high temperature industrial heat pump, with multiple systems-level design considerations including advanced, AI-enabled integration and process control, low-global warming potential (GWP) refrigerants and waste heat recovery.

• Purdue University – Develop a higher-temperature industrial heat pump that leverages 3D printing for the system’s compressor and considers design factors such as thermal energy storage for optimized integration of industrial processes.

• Texas A&M University’s Engineering Experiment Station (TEES) – Develop a high-performance heat pump system that integrates dehumidification, low-cost sensors and predictive controls to improve methods for drying foods while ensuring food quality and lowering energy costs.

These new heat pump innovations build on Trane Technologies’ position as an industry leader in decarbonization solutions for the built environment. The company’s latest heat pump technology for commercial buildings combines heating and cooling systems into one, high-efficiency electric solution. Its residential cold-climate heat pump surpassed the DOE requirements for high-efficiency heating in freezing temperatures.

Through bold, industry-leading action, Trane Technologies is advancing its 2030 Sustainability Commitments, including its Gigaton Challenge, and its net-zero by 2050 pledge, with emissions reduction targets validated by the Science Based Targets Initiative (SBTi).

About Trane Technologies

Trane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes and transportation. For more on Trane Technologies, visit www.tranetechnologies.com.

Forward Looking Statements

This news release includes “forward-looking statements” within the meaning of securities laws, which are statements that are not historical facts, including statements that relate to our innovation to develop decarbonization solutions for heavy industry, and our other sustainability commitments and the impact of these commitments. These forward-looking statements are based on our current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from our current expectations. Factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2022, as well as our subsequent reports on Form 10-Q and other SEC filings. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. We assume no obligation to update these forward-looking statements.

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