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Trane Technologies plc reports developments tied to climate-control products and services for buildings, homes and transportation. The company operates through strategic brands including Trane and Thermo King, with recurring updates on commercial and residential HVAC systems, building controls and solutions, energy services, transport refrigeration, and regional activity in the Americas and Asia Pacific.
Company news commonly covers quarterly results, bookings and backlog trends, guidance, dividend declarations, investor conference presentations, technician training programs, and product or technology progress in energy-efficient HVAC. Updates also include participation in government and industry initiatives involving commercial rooftop units, cold-climate performance and building-system efficiency.
The Board of Directors of Trane Technologies (NYSE:TT) declared a quarterly dividend of $0.75 per share, amounting to an annualized dividend of $3.00. This dividend is payable on June 30, 2023 to shareholders recorded by June 2, 2023. Trane Technologies has maintained consecutive quarterly cash dividends since 1919 and annual dividends since 1910, demonstrating a long-standing commitment to shareholder returns.
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Trane Technologies (NYSE: TT) announced a successful energy and infrastructure upgrade with Parkway School District in Missouri, resulting in over $1.1 million in energy savings over four years, which exceeds initial savings guarantees by 10%. The upgrades led to a 26% reduction in annual energy consumption and a decrease in carbon emissions by more than 9,000 metric tons. This project highlights a long-standing partnership focused on sustainability. Notably, an on-campus geothermal energy plant was installed at Parkway South High School, enhancing energy efficiency while maintaining campus aesthetics.
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Trane Technologies (NYSE: TT) has partnered with the City of Alton, Illinois, to implement a $7 million energy and infrastructure upgrade across five city facilities. This project includes installing energy-efficient HVAC systems and a thermal energy storage system, projected to save the city approximately $40,000 annually. Funding was secured through the American Rescue Plan Act, with Trane providing a pre-payment discount of $238,000 and additional utility incentives. The collaboration supports sustainability goals while enhancing operational efficiency. The initiative also promotes diversity by engaging local minority- and women-owned subcontractors.
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Trane Technologies (NYSE: TT) has approved Hydrotreated Vegetable Oil (HVO) as a sustainable diesel alternative in its Thermo King® cold chain solutions. This fossil-free fuel promises a remarkable 90% reduction in greenhouse gas emissions and over 30% reduction in particulate matter while ensuring optimal performance. Following successful trials with a national food distributor, HVO will now be available to customers in the Americas. This aligns with Trane's strategic roadmap to net zero emissions, which includes providing all-electric solutions by 2025 in the Americas and advancing its 2030 Sustainability Commitments.
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Trane Technologies, a global climate innovator, will participate in a fireside chat at the Bank of America Global Industrials Conference. The event is scheduled for 8:50 a.m. GMT on Wednesday, March 22, 2023. The webcast will be accessible on the company's website under the investor relations section, with an archive available for 30 days post-event. Trane is recognized for its efficient and sustainable climate solutions through its brands Trane® and Thermo King®.
Trane Technologies emphasizes the need for increased female representation in the HVAC industry to address a labor shortage. With a projected need for 336,000 welders by 2026, the company advocates for recruiting, hiring, training, and retaining women in HVAC roles. Currently, only 15% of engineering positions are held by women, and just 4% occupy construction and trade jobs. The press release discusses barriers preventing women from entering the field, such as lack of awareness and systemic issues like harassment. Trane aims to foster a diverse workforce and calls on industry stakeholders to support this initiative.