Source Refrigeration & HVAC announced that Adam Coffey has been appointed as its new president and chief executive officer. Founder Brad Howard will remain in his position as chairman.

Honeywell and Flowserve announced that they will collaborate to provide Industrial Internet of Things (IIoT) solutions to help industrial customers make their operations safer, more efficient, and more reliable.

A new report examining stationary fuels cells for micro-combined heat and power (MCHP), prime power, large combined heat and power (CHP), and uninterruptible power supply (UPS) applications is available from Navigant Research.

Dealnet Capital Corp. announced that it has entered into multiple vendor finance agreements with distributors and manufacturers of home improvement products in Canada, including an HVAC equipment supplier.

Lennox Industries Inc. has announced increased prices ranging from 3 to 6 percent on select residential equipment, accessories, and parts, effective Jan. 1, 2017.

The global split air conditioning systems market was valued at $79.72 billion in 2015 and is forecast to expand at a compound annual growth rate (CAGR) of 5.1 percent from 2016 to 2024, reaching a market size of $127.27 billion in 2024, according to a report from Transparency Market Research.