PALM BEACH GARDENS, Fla. - Carrier Global Corporation (NYSE: NYSE:CARR), a prominent player in the Building Products industry with a market capitalization of $58.24 billion, announced today the launch of Carrier QuantumLeap, a suite of energy-efficient cooling systems for data centers. This move comes as the company anticipates growth in the global data center cooling market, expected to reach $20 billion by 2029. According to InvestingPro data, Carrier has demonstrated strong momentum with a 20.32% return over the past year.
Carrier QuantumLeap is designed to manage the thermal lifecycle of data centers, from chip to chiller, with a focus on maximizing efficiency and reliability. The suite includes next-generation chillers with magnetic bearing technology, air handling systems, and direct-to-chip liquid cooling integration. These solutions are reported to be 30% more efficient than previous generations. With impressive revenue growth of 25.64% in the last twelve months, Carrier continues to demonstrate its market leadership. For deeper insights into Carrier’s financial health and growth prospects, investors can access comprehensive analysis through the Pro Research Report available on InvestingPro.
The company’s Automated Logic building management system and Nlyte’s data center management technology are integral parts of QuantumLeap, providing operators with control and optimization capabilities. Carrier’s global service network and digital platform, Abound, offer predictive maintenance and real-time insights to enhance data center performance.
In 2024, Carrier Ventures invested in Strategic Thermal Labs (STL), a company specializing in liquid cooling technologies, to bolster its position in the data center market. Carrier also plans to double its commercial HVAC manufacturing capacity in North America by the end of 2025 and expand its engineering lab capacity.
This announcement is based on a press release statement from Carrier Global Corporation.
In other recent news, Carrier Global Corporation announced a series of significant developments. The company raised its quarterly dividend to $0.225 per share, marking an 18% increase from previous dividends. Carrier also appointed Amy Miles, the former CEO of Regal Entertainment Group, to its Board of Directors, a move that is expected to enhance the board’s capabilities and steer the company towards its strategic goals.
In the realm of analyst ratings, Carrier has received positive assessments. RBC Capital Markets maintained an Outperform rating for the company, recognizing Carrier’s potential for portfolio optimization and improvement of its free cash flow. Similarly, Goldman Sachs reinstated a Buy rating on Carrier’s stock, highlighting the company’s significant transformation and growth potential in the HVAC industry.
In executive news, Carrier announced that Kevin O’Connor, the company’s Senior Vice President and Chief Legal Officer, will step down. Francesca Campbell is set to take over the role, a change that marks a significant step in the company’s ongoing efforts to strengthen its leadership team. These developments are part of the company’s recent activities, reflecting its commitment to strategic growth and operational excellence.
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