Daikin’s North American subsidiaries employ more than 22,000 employees across 25 manufacturing facilities dedicated to providing innovative and sustainable HVAC solutions throughout the U.S. and Canada.
Established in 2021, the residential CCHPC was launched to develop, test, and commercialize heat pumps that could deliver as much heat as needed without using auxiliary heating.
The spinoff will enable Honeywell to focus on accelerating organic growth, evolving its Accelerator operating system, and optimizing its portfolio, the press release said.
The Residential Cold Climate Heat Pump Technology Challenge aims to foster collaboration among manufacturers, utilities, and other stakeholders to develop next-generation heat-pump technology capable of delivering reliable and energy-efficient heating in extreme winter conditions.
The new factory will have an eventual capacity of a million water tanks per year and serve as a strategically located hub to meet the growing demand for hot water tanks across Europe.