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Carrier and Bosch Form North American Joint Venture
Nov 22, 2013
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Carrier Corp. and Robert Bosch North America Corp. formed a joint venture to develop and manufacture geothermal and water-source heat pumps for the North American residential and commercial segments. Financial terms were not disclosed.

Geothermal heat pumps use the constant below-ground temperature of soil or water to heat and cool buildings, using 25-50% less electricity than conventional heating or cooling systems, according to the U.S. Department of Energy.

Sales of geothermal heat pumps are expected to triple by 2020.

Carrier geothermal and water-source heat pumps will be developed and manufactured at the joint venture's Florida Heat Pump manufacturing plant in Fort Lauderdale, FL. Sales channels and Carrier/Robert Bosch brands will remain independent.

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