Trane Technologies Named to Fast Company’s 2023 Best Workplaces for Innovators List

Sustainability leader’s cooling cart also recognized by Fast Company as one of its 2023 World Changing Ideas

Trane Technologies (NYSE:TT), a global climate innovator, has been recognized by Fast Company as one of the 2023 Best Workplaces for Innovators. The list ranks 100 global companies from a variety of industries that empower its employees to create new products, invent new ways of doing business or improve processes. Trane Technologies was also named as a finalist in the Sustainability category.

“Relentlessly innovating for a more sustainable world is core to our business strategy, and every day, our teams push the boundaries of what’s possible to deliver industry-leading results,” said Paul Camuti, executive vice president and chief technology and sustainability officer for Trane Technologies. “This prestigious recognition honors their dedication to creating healthy spaces and decarbonizing buildings, the cold chain and industries with high energy demands.”

Trane Technologies’ passive cooling cart for street vendors was also recognized by Fast Company as one of its 2023 World Changing Ideas. The cart was named the winner in the Developing World Technology category, a finalist in the General Excellence and Large Business categories and received an honorable mention in the Sustainability/Energy category.

The cooling cart is designed to provide a reliable income and improve the quality of life for millions of street vendors around the world. It reduces food waste and lowers greenhouse gas emissions. The cart utilizes dual-mode film technology that reflects sunlight to prevent fresh produce from overheating, while passively cooling the area beneath the canopy. This design does not require electricity and can be retrofitted onto existing carts already in-use.

Trane Technologies’ cooling cart is the result of Operation Possible, an employee-powered social innovation program that addresses the most pressing social and environmental challenges, including the coexistence of food loss and hunger in low-income communities. By harnessing the power of innovative collaboration, Operation Possible is accelerating the potential for positive change for both people and the planet.

Other recent examples of innovation at Trane Technologies include:

• High-efficiency heat pumps: In November 2022, Trane Technologies surpassed the U.S. Department of Energy’s (DOE) requirements for the Residential Cold Climate Heat Pump (CCHP) Challenge. When tested at the DOE’s lab, Trane’s CCHP prototype performed in temperatures as low as negative 23 degrees Fahrenheit, surpassing the mandatory negative 20 degrees Fahrenheit DOE requirement.
  
  
  
  
• Hydrotreated Vegetable Oil (HVO): Trane Technologies approved the use of Hydrotreated Vegetable Oil (HVO) fossil-free fuel as a sustainable alternative to diesel fuel in Thermo King® global cold chain solutions, including refrigerated truck and trailer product lines. The use of HVO fuel offers a 90% reduction in greenhouse gas emissions and more than 30% in particulate matter while maintaining optimal product performance.
  
  
  
  
• Thermal Battery™ Storage-Source Heat Pump Systems: Trane’s Thermal Battery™ Storage-Source Heat Pump System (SSHP) is an innovative electrified heating solution that reduces carbon emissions even in cold climates. This innovative approach reclaims excess building heat and can also collect heat from the outdoor air to immediately heat a building or store it for tomorrow’s heating.
  
  
  
  

Trane Technologies’ innovation expertise powers its 2030 Sustainability Commitments, which addresses global challenges that affect the communities around the world. These commitments include the Gigaton Challenge - a pledge to reduce customer greenhouse gas emissions by one gigaton (or, 2% of the world’s annual emissions) by 2030. The company was also first in its industry and among the first across all sectors to receive validation from the Science Based Targets Initiative (SBTi) for its near-term 2030 emissions reduction targets and its long-term 2050 net-zero target.

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 tranetechnologies.com.

About Fast Company

Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.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 initiatives to develop innovative heating and cooling solutions, our 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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