HVAC Commercial Market

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Nortek Inc., a global diversified company whose offerings include heating and cooling products, ventilation products, and more, announced that it has signed an agreement and plan of merger with Melrose Industries PLC, a UK listed public company, to be acquired by Melrose for $86 per share in cash.

ASHRAE has announced revisions to the majority of chapters, including major updates related to thermal storage and district heating and cooling, in its newly published 2016 ASHRAE Handbook – HVAC Systems and Equipment.

The International Energy Agency, Solar Heating and Cooling Programme (IEA SHC) released the 2016 edition of its report on the global status of the solar thermal heating and cooling market.

The membership of the National Association of Oil and Energy Service Professionals (OESP) has unanimously voted to hire Jaffe Communications of Newark, New Jersey, to serve as its next executive director, following the retirement of Judy Garber on Aug. 1.

The global insulation market is forecast to reach $93.34 billion by 2024, according to a new report by Grand View Research Inc. The rising importance of energy efficient buildings owing to escalating energy costs is expected to remain a key driving factor for the global insulation market.

Renewable energy accounted for nearly 25 percent of global electrical capacity in 2015, according to a new study, Renewables 2016 Global Status Report, by REN21. The power sector experienced its largest annual increase in capacity ever, with significant growth in all regions.

The Commonwealth Scientific and Industrial Research Organization (CSIRO) has unveiled a solar-powered air conditioning system to cool Australian commercial buildings and achieve greater energy efficiency.

Ingersoll Rand announced that it received three Product and Project of the Year awards from Environmental Leader at the fifth annual Environmental Leader Conference in Denver. The honored products are part of Ingersoll Rand’s EcoWise™ portfolio.