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Carrier Global's Strategic Acquisition of Addvolt

On May 2, 2025, Carrier Global Corporation (NYSE: CARR), a leader in intelligent climate and energy solutions, announced its acquisition of Addvolt, S.A., a Portuguese company specialized in transport electrification technology. This strategic move is anticipated to enhance Carrier's electrification solutions, especially in the refrigerated transportation sector, where carbon emissions and fuel usage are critical concerns.

About Addvolt

Founded over a decade ago, Addvolt has established itself as an innovator in the creation of electric systems for refrigerated vans, trucks, trailers, and containers. Their patented, non-invasive technology is designed to operate with minimal maintenance, contributing to a significant reduction in emissions such as noise, nitrogen oxide, and carbon dioxide, making it a viable solution in the fight against climate change. The company's plug-in electric systems are already being utilized by Carrier Transicold customers in Europe, featuring the Vector® eCool, which is celebrated as the world's first fully autonomous electric trailer refrigeration system.

Benefits of the Acquisition

Carrier's acquisition of Addvolt reinforces its commitment to sustainability and innovation in transportation. According to Edward Dryden, President of Climate Solutions Transportation at Carrier, this partnership will allow both companies to leverage their strengths in electric systems and power management. By uniting Addvolt's expertise with Carrier’s established solutions, they aim to create new and emerging applications beyond refrigerated transportation.

Bruno Azevedo, Co-founder and CEO of Addvolt, expressed enthusiasm about joining forces with a global industry leader, emphasizing their shared mission to push the boundaries of electrification technology. This collaboration signifies a proactive step toward enhancing Carrier's electrification strategy, further integrating advanced tech and power management capabilities into their solutions.

Addvolt's Impact on Carrier's Workforce

Approximately 60 employees from Addvolt will transition into Carrier's Climate Solutions Transportation segment, bringing specialized skills in engineering and energy management. This melding of talent solidifies Carrier’s approach to sustainable growth and technological innovation, with the goal of creating climate solutions that meet the needs of the future.

The merger demonstrates Carrier’s ongoing strategy to identify and scale differentiated technologies that align with its growth vision. The early investment from Carrier Ventures into Addvolt reflects a long-term commitment to developing technologies that are not only innovative but also sustainable.

Conclusion

The acquisition of Addvolt by Carrier Global Corporation marks a significant milestone in the evolution of electrification solutions within the transportation sector. As companies increasingly focus on sustainability and reducing their carbon footprint, this partnership is poised to lead in developing cutting-edge solutions that prioritize both efficiency and environmental responsibility. The coming years will likely reveal new innovations and applications resulting from this significant partnership, contributing to a cleaner, greener future for global transport.