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PRESS RELEASE

R&D facility in Galway employs top engineering talent and accelerates the company’s commitment to providing all-electric solutions across the cold chain in Europe by 2023

SWORDS, Ireland  July 4, 2022 – Thermo King® by Trane Technologies (NYSE: TT), a global climate innovator, today launched a new research and development (R&D) center adjacent to its sustainable manufacturing operations in Galway, Ireland. The R&D center, with capacity for up to 70 engineers, adds to the company’s electrification design and engineering capabilities in Europe, which includes an R&D centre in Essen, Germany. It is part of the company’s more than $100 million investment to deliver fully electric products in every segment of the cold chain in Europe, Middle East, Africa (EMEA) by 2023 and in the Americas by 2025.

“Our new R&D centre generates another space for innovation, creativity and learning,” said Francesco Incalza, president of Thermo King EMEA at Trane Technologies. “The technologies developed on-site will add to the more than 40,000-strong fleet of Thermo King electric and fuel-efficient transport refrigeration units delivering food, vaccines, medicines and other critical goods across Europe and beyond.”

“Yet again Galway is leading the way in technology research and development. The unveiling of this new dedicated electrification lab is symbolic of Thermo King’s confidence in Galway, and the West of Ireland, as a good place in which to expand and lead the charge in the development of zero emission technology solutions,” said Hildegarde Naughton, Irish Minister of State. “I would like to congratulate the entire team behind today’s announcement, and I look forward to seeing the fruits of Galway’s newest specialized Research and Development center.”

The center also helps advance Trane Technologies’ 2030 Sustainability Commitments including its Gigaton Challenge to reduce customer greenhouse gas emissions by 1 billion metric tons, while aligning with the European Union’s latest nearly zero-emission building (nZEB) standards.

“Today’s announcement from Trane Technologies follows the opening of its automation and robotics centre in Galway City last year, further aligning with IDA Ireland’s continued focus on sustainability and transformation” said Martin Shanahan, CEO, IDA Ireland. “I wish Trane Technologies and Thermo King every success with this expansion.”

Congratulations to the Trane Technologies team on this new Research and Development Centre for Thermo King,” said Leo Varadkar, Deputy Prime Minister of Ireland and Minister for Enterprise Trade and Employment. “With its rich talent pool and world-class education institutions, this is the perfect location for this project. The best of luck to the entire team.”

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Thermo King