Carrier Acquires Addvolt To Boost Transport Electrification Capabilities

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(RTTNews) - Carrier Global Corporation (CARR), a leader in intelligent climate and energy solutions, Friday announced that it has acquired Addvolt, S.A., a Portuguese company specializing in electrification technology for refrigerated transportation.

The acquisition builds on a long-standing partnership and supports Carrier's strategy to lead in sustainable, low-emission transport solutions.

Addvolt develops patented, plug-in electric systems for refrigerated vans, trucks, trailers, and containers. These systems reduce reliance on fuel and cut harmful emissions, including noise, particulates, nitrogen oxide, and carbon dioxide.

Carrier's Climate Solutions Transportation President, Edward Dryden, emphasized that Addvolt's expertise in electric systems and power management will enhance Carrier's capabilities, allowing innovation beyond refrigerated transport. He noted that the partnership opens new opportunities across emerging applications while continuing their successful collaboration.

Addvolt will bolster Carrier's electrification roadmap with advanced power electronics, integrated power management, and energy management software. Its technology, already used in Carrier Transicold's Vector® eCool— the world's first fully autonomous electric trailer refrigeration unit—further supports Carrier's decarbonization goals.

Addvolt CEO and Co-founder Bruno Azevedo expressed optimism about joining Carrier, stating that this milestone will accelerate their mission to push the boundaries of transport electrification.

Founded over ten years ago, Addvolt was the first portfolio company of Carrier Ventures in 2022. The early investment reflects Carrier's strategic focus on scaling technologies aligned with its long-term growth plans.

Based in Porto, Portugal, Addvolt's 60 employees will now become part of Carrier's Climate Solutions Transportation segment.

CARR is currently trading at $71.63, or 2.95% higher on the NYSE.