Carrier acquires Addvolt for refrigerated electrification

Carrier Global Corporation has acquired its partner Addvolt, S.A. Addvolt offers low-maintenance electric systems for refrigerated vans, trucks, trailers, and containers to avoid fuel usage and reduce emissions, including noise, particulates, nitrogen oxide, and carbon dioxide.

"By combining Addvolt's deep expertise in electric systems and power management with Carrier's industry-leading solutions, we are well-positioned to drive innovation beyond refrigerated transportation," said Edward Dryden, President, Climate Solutions Transportation, Carrier. "This strategic partnership creates opportunity for new and emerging applications, while also continuing to build on the success we've already achieved together."

More specifically, Addvolt provides electrification technology, integrated power management and power electronics capabilities, and its energy management software for fleets. The company is based in Porto, Portugal, and about 60 Addvolt employees will join the Carrier Climate Solutions Transportation segment.

Linklaters LLP provided external legal counsel to Carrier, White Peak Partners acted as financial advisor, and CVG Legas served as legal counsel to Addvolt for the transaction.