FARMINGTON, Conn. — Carrier Corp. and Robert Bosch North America Corp., signed an agreement to form a joint venture to develop and manufacture geothermal and water-source heat pumps for the North American residential and commercial segments, the companies announced recently.

Financial terms of the agreement, which are complete pending necessary regulatory approvals, were not disclosed.

Carrier said it entered into the agreement to enhance its offerings and service to the growing geothermal market.

“The Carrier team is excited by the opportunities this agreement will provide,” said Chris Nelson, president, residential and commercial systems. “By bringing together the strengths of both companies, from Carrier’s rich legacy of innovation to Bosch’s well-equipped manufacturing plant in Fort Lauderdale, Fla., we will deliver a high level of value to our customers.”

Moving forward, Carrier geothermal and water-source heat pumps will be developed and manufactured at the JV’s Florida Heat Pump manufacturing plant in Fort Lauderdale. Sales channels and the respective brands for each company will remain independent of one another.

“Geothermal heating is one of the most cost-effective and environmentally responsible heating and cooling options available to consumers,” said Richard Soper, president, Bosch Thermotechnology Corp. “Establishing a relationship between Carrier and Bosch will allow us to leverage our research and development resources, and continue to deliver high-quality manufactured products to our customers.”

Publication date: 11/25/2013

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