Mode London to Join E.ON’s Low-Carbon Heat Network in the City of London UNITED KINGDOM: E.ON has signed an agreement to connect Mode London to its district heat network in the City of London. The deal marks the first ‘sleeved’ heat supply from the Citigen Energy Centre and establishes a partnership expected to run into the 2040s. Through this arrangement, Mode London will receive low-carbon heating generated by ground source heat pumps at Citigen, helping improve the buildin

Zehnder Revenue Jumps in 2025; Steady Recovery Expected in 2026 SWITZERLAND: Zehnder Group reported strong growth in its ventilation segment in 2025, with total sales rising 18% (organically +15%) to US$542 million (EUR 501.7 million). The acquisition of Spain-based Siber contributed around 5% to growth, while second-half organic sales increased 14%. The segment accounted for 66% of total group sales, up from 60% a year earlier. Sales revenue in the EMEA region climbed 23% to

Green Finance Facility boosts renewable energy adoption for SMEs NORTH MACEDONIA: A UN-backed Green Finance Facility (GFF) is demonstrating how targeted financial support can accelerate North Macedonia’s green transition while delivering measurable climate and public health benefits. Funded by the UN Joint SDG Fund and led by UNDP North Macedonia, with participation from IOM and support from EBRD and UNECE, the initiative provides affordable green financing to small and mediu

LG Electronics India Q3 FY26 Revenue and Profit Decline Amid Margin Contraction INDIA: LG Electronics India reported a weaker financial performance in Q3 FY26, reflecting a slowdown in both revenue and profitability amid subdued demand conditions in the domestic consumer durables market. Revenue declined 6.4% year-on-year to ₹4,114 crore (USD 496 million). The home appliances segment was particularly impacted, with revenue easing to ₹2,788 crore (USD 336 million) from ₹3,091

UNEP and ASHRAE Adopt New Lifecycle Refrigerant Management Plan UNITED STATES: UNEP and ASHRAE have adopted a new two-year work plan on Life Cycle Refrigerant Management (LRM), strengthening their long-standing collaboration supporting the global transition to sustainable refrigerants. The plan was adopted at the ASHRAE Winter Conference in Nevada, USA, and will guide joint projects covering refrigerants from production to end-of-life. Key initiatives include new training too

Crompton Greaves Consumer Electricals Ltd. Reports Q3 FY26 Results INDIA: Crompton Greaves Consumer Electricals Ltd. reported stable financial performance in Q3 FY26. Consolidated revenue increased 7.3% year-on-year to approximately USD 2.29 billion (₹1,898 crore), with continued sequential improvement in revenues and margins. EBITDA rose to around USD 235 million (₹195 crore), with margins at 10.3%, supported by controlled advertising spends and cost optimisation, despite co

Carrier Shares 2025 Performance and 2026 Forecast USA: Carrier reported weaker fourth-quarter 2025 results, with sales down 6% and organic sales down 9%, reflecting soft residential demand and distributor destocking in the Americas. Full-year 2025 sales reached US$ 21.75 billion, down 3% year on year, though global commercial HVAC and aftermarket businesses achieved double-digit growth. Profitability was supported by productivity gains and a stronger mix in some regions. The

EU Backs Recovery Payment for Czechia After Reform Progress CZECH REPUBLIC: The European Commission has given a positive assessment of Czechia’s fifth payment request worth US$ 725.2 million (€614 million) under the EU Recovery and Resilience Facility. The approval follows Czechia’s satisfactory completion of 29 milestones and targets linked to reforms and investments in affordable housing, sustainable transport, energy efficiency, rail infrastructure, environmental research

Bosch Home Comfort Group Reports Stable Sales and Strategic Gains in 2025 GERMANY: Bosch Home Comfort Group maintained stable performance in 2025 despite a challenging global HVAC market marked by weaker demand in North America and uncertainty in Europe. Preliminary sales reached around US$5.20 billion (€4.4 billion), broadly in line with the previous year, while nominal growth edged up 0.3%. The company gained notable market share in European heat pumps and air conditioning,

Lennox Posts Softer 2025 Sales but Lifts Margins and Sets 2026 Growth Outlook USA: Lennox reported mixed results for 2025, with revenue slipping 3% to US$ 5.2 billion amid weaker volumes, channel destocking and subdued construction demand. Fourth-quarter revenue fell 11% year on year, while adjusted earnings per share declined 22%. Despite this, the company achieved record annual margins above 20%, supported by cost controls, pricing discipline and favourable product mix. Hom

Europe Housing Landscape in 2025: Ownership Dominates, Affordability Strains Intensify EUROPE: Housing conditions across the European Union in 2025 reveal a market shaped by high ownership, rising costs and growing affordability challenges. In 2024, 68% of EU residents owned their homes, with ownership rates exceeding 90% in Romania, Slovakia, Hungary and Croatia. Germany remained the only country where renting predominated. Just over half of Europeans lived in houses, though

India’s Union Budget 2026–27 Reinforces Infrastructure-Led Growth INDIA: India’s Finance Minister Nirmala Sitharaman has presented the Union Budget for 2026–27, reinforcing the government’s infrastructure-led growth strategy with a record outlay of ₹12.2 trillion (USD133 billion) for infrastructure in FY2027—an 11.4% increase year on year. Roads, ports and railways remain central to the agenda of the Narendra Modi government, with a renewed emphasis on expanding connectivity

GC Group Expands Italian Footprint with Two New Family Businesses ITALY: The GC Group has strengthened its presence in Italy with the addition of Caielli & Ferrari and Acquatica SpA from the start of 2026. Operating under Cordes & Graefe Italia Holding, the new members gain access to group-wide logistics, digital platforms and collaborative synergies. As part of the expansion, the group is acquiring a central logistics hub at the Cisette (C7) site, to be operated by Cordes &

Trane and Garrett Motion Join Forces for Ultra Efficient Commercial HVAC Solutions SWITZERLAND: Trane Technologies and Garrett Motion have announced a strategic collaboration to advance next-generation, oil-free centrifugal compressor technology for commercial HVAC applications. The partnership combines Trane’s system-level expertise with Garrett’s high-speed, oil-free compressor technology, which has already demonstrated significant energy-efficiency gains in testing. The co

UK Boiler Upgrade Scheme Hits Record Heat Pump Uptake in 2025 UNITED KINGDOM: The UK government’s Boiler Upgrade Scheme delivered a record year in 2025, with 110,758 voucher applications submitted, 98% for air source heat pumps. Despite a seasonal slowdown in December, the scheme issued 95,639 vouchers during the year and paid 72,982 redemptions, with December ranking among the strongest months on record for completed installations. Regionally, the South East and South West l

Panasonic Appointed to Procure Plus Framework for Low-Carbon Heating Solutions United Kingdom: Panasonic Heating and Cooling UK have been selected for the four-year Procure Plus framework, supporting the supply of low- and zero-carbon heating, hot water and smart control technologies to social housing and public sector organisations across the UK. Under the framework, Panasonic will provide its Aquarea air source heat pumps, hot water cylinders and smart control solutions to

STIEBEL ELTRON Begins Heat Pump Production at Höxter Facility GERMANY: STIEBEL ELTRON has commenced heat pump production at its newly acquired facility in Höxter, Germany, following the takeover of the former DMA mechanical engineering site in late 2022. After extensive refurbishment, one production line is now operational, with two additional lines planned. The facility will handle the full production process, from assembling refrigerant circuits to testing, charging and pac

UK Heat Pump Industry to Launch Unified Trade Body in 2026 UNITED KINGDOM: The UK heat pump sector will unite under a single trade body, Heat Pump Association UK (HPA UK), following a decision by members of the Heat Pump Association, Ground Source Heat Pump Association and Heat Pump Federation to merge. Launching in January 2026, the new organisation aims to provide a unified voice for low-carbon heating as the industry scales up deployment across domestic, commercial and ind

Bluon Partners with Helios HVACR to Deploy AI Diagnostics Across Field Operations US: Bluon has announced a strategic partnership with Helios HVACR Services, under which Helios HVACR is deploying Bluon’s AI driven diagnostics and equipment intelligence platform across its nationwide field operations. Helios HVACR operates in more than 40 US states and provides commercial HVACR installation, maintenance, and repair services. The platform is being integrated into existing workf

United States UNITED STATES: National Energy Assistance Directors Association (NEADA) forecasts that United States household heating costs will rise 9.2% this winter, roughly three times inflation, driven by higher electricity and natural gas prices and colder weather. Average heating spending is expected to reach $995, up $84 year-on-year. Electricity-heated homes face the steepest increase (+12.2%), followed by natural gas users (+8.4%), while heating oil and propane costs