Published by Todd Bush on November 17, 2022
November 15, 2022 06:30 AM Eastern Standard Time SWORDS, Ireland--(BUSINESS WIRE)--Trane Technologies (NYSE: TT), a global climate innovator, today announced it will further reduce the carbon impact of its industry-leading, sustainable HVAC solutions by purchasing low-carbon steel from primary supplier Nucor Corporation (NYSE: NUE), Econiq™, with an additional allotment from U. S. Steel (NYSE: X), verdeX®. The steel will be used in U.S. manufacturing operations to build Trane® high-efficiency heat pumps and air conditioners for homes, and thermal management systems for commercial buildings such as schools and data centers.
>> In Other News: The World’s Largest Battery Powered by U.S.-Based Powin has Kicked Off Execution in Australia
'Sustainability is at the core of our strategy, and we're excited to take another step forward in our journey to net-zero HVAC solutions,' said Dave Regnery, chair and CEO of Trane Technologies. 'Our partnerships with Nucor Corporation and U. S. Steel will make our products even more sustainable as we continue to decarbonize our full value chain – from the raw materials we use, to our own operations, to the lifecycle impact of our products and services around the world. We're proud to be leading the market transition to a net-zero future.'
Representing 20 percent of Trane Technologies' annual steel purchase, the low-carbon steel is nearly 80 percent less carbon intensive than traditional blast furnace steel. With this purchase, the company expects to reduce nearly 16,000 metric tons of carbon annually with a reduction of 120,000 metric tons by 2030 – the equivalent of emissions generated from powering more than 55,000 homes for one year. The steel industry today accounts for approximately 8 percent of global carbon emissions.
'We are grateful for the opportunity to partner with Trane Technologies as their primary supplier of lower carbon steel, which will reduce carbon emissions throughout their supply chain,' said Leon Topalian, Nucor's chair, president and CEO. 'Our Econiq™ brand is helping steel end-users meet their growth and sustainability goals, and we are proud that it is going to be a key piece of Trane Technologies' vision of a net-zero emissions future.'
'We are thrilled to help our customers move toward a net-zero future by creating solutions that are Best for All®,' said U. S. Steel president and CEO David B. Burritt. 'U. S. Steel's verdeX® steel is strong enough to handle the day-to-day demands of businesses and homeowners, and can reduce CO2 emissions by up to 70%–80% versus integrated steel mill production.'
Trane Technologies pledges to procure, specify or stock 50 percent net-zero steel by 2030 and 100 percent net-zero steel by 2050 as a member of SteelZero. Trane Technologies also is a founding member of the First Movers Coalition. Through bold, industry-leading action and partnerships, Trane Technologies is advancing its 2030 Sustainability Commitments, including the Gigaton Challenge, and its pledge to be net-zero by 2050, with emissions reduction targets validated by the Science Based Targets Initiative (SBTi).
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 www.tranetechnologies.com.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Nucor Corp
NUE
Olympic Steel, Inc
ZEUS
Schnitzer Steel Industries, Inc
SCHN
United States Steel Corp.
X
Inside the Issue 🌎 Global Leaders Converge in Edmonton September 23-25 for Carbon Capture Canada as Federal Government Expected to Boost Industrial Carbon Pricing in Fall 2025 ✈️ Delta Partners Wi...
Inside This Issue 📉 EPA Releases Proposal to End the Burdensome, Costly Greenhouse Gas Reporting Program, Saving up to $2.4 Billion 📊 California to Extend Cap-and-trade Program Aimed at Advancing ...
Inside this Issue ✈️ CORSIA Transforms Aviation Compliance Into Market Gold Rush 📉 IEA Cuts 2030 Low-emissions Hydrogen Production Outlook by Nearly a Quarter 🎤 GenH2 Executive Chairman Josh McMor...
More than 5,000 attendees are expected at Canada’s national Carbon Capture, Utilization and Storage (CCUS) convention to address industry opportunities in the sector from geopolitical advantage to ...
1PointFive and NYK Announce Carbon Removal Agreement
Second NYK transaction continues to build momentum for Direct Air Capture as a solution for the maritime sector HOUSTON, Sept. 17, 2025 (GLOBE NEWSWIRE) -- 1PointFive, a carbon capture, utilizatio...
Led by cornerstone investors Alaska Airlines, American Airlines, with International Airlines Group (IAG), Cathay Pacific, and Japan Airlines from oneworld alliance, and Singapore Airlines as part o...
Eaton to Showcase Technologies for Hydrogen-Powered Commercial Vehicles at IAA Transportation 2024
HANOVER, Germany--(BUSINESS WIRE)--Intelligent power management company Eaton announced it will showcase a broad range of innovative solutions for hydrogen-powered commercial vehicles September 17–...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.