Skip to content

New Cleantech Joint Venture Plans Global Oil-Free Revolution

October 12, 2018

On Wednesday, 10th of October, 2018, Smardt completed the formation of a global joint venture with TICA Group, China market leader in high-efficiency ventilation solutions. The new joint venture will continue to develop the Smardt and TICA brands and the existing Smardt factories in Montreal, Melbourne, New York, Guangzhou and Stuttgart, where immediate expansion is slated. Smardt’s existing global distribution channels will add a new range of TICA air-handling units from 2019 onwards.

The new TICA-Smardt JV will accelerate the global adoption of oil-free chiller technology.

 

TICA’s extensive array of factories and R&D facilities in Nanjing, Tianjin, Guangzhou, Chengdu and Kuala Lumpur will support further expansion of Smardt’s oil-free centrifugal chiller product range, in China and global markets. TICA holds a controlling interest in the new joint venture, which plans to accelerate development of comprehensive oil-free solutions in its key global markets of metros, data centres, pharmaceutical, manufacturing, healthcare, automotive, hotels, district cooling and process cooling.

 

The new group plans gross revenues of some USD 1 billion and in major energy-efficiency projects shows rapid growth.

 

Smardt was founded in Montreal in 2005 by Turbocor founder Roger Richmond-Smith, who remains Smardt chairman and CEO, working closely with Jiang Li, chairman and CEO of TICA. No changes in senior personnel are contemplated in the transaction, whose financial details are not disclosed.

 

“I’m delighted that this joint venture is now in place,” said Mr. Richmond-Smith today. “Our last joint venture, between Turbocor and Danfoss, powered the worldwide development of the breakthrough oil-free magnetic bearing technology we pioneered in Australia 25 years ago. This TICA-Smardt joint venture aims to bring chilled water plant and air handling systems together, driving oil-free technology through to optimised whole-building solutions. Advances in artificial intelligence make this prospect totally feasible,” he said.

 

“There’s a potential revolution here for our customers, just waiting for us to make it happen,” Mr. Jiang concluded.​

 

Further information:
Background: please see websites www.smardt.com and www.ticachina.com 
Further information, please contact:
Cam Whitelaw, Group Marketing Manager, Smardt Chiller Group Inc. 
Tel: +1 514 244 3386; Email: 203179@email4pr.com 
Albert Yam, Vice President, Nanjing TICA Climate Solutions Ltd. 
Tel: +86 153 6611 5828; Email: 203179@email4pr.com

 

SOURCE Smardt Chiller Group

https://www.prnewswire.com/news-releases/new-cleantech-joint-venture-plans-global-oil-free-revolution-300729976.html

Share this article 

Want to learn more on our Smardt chillers?

Contact a specialist today.

Talk to an expert to find out which product is right for you, and how much you can save.

Recent Articles

Smardt Celebrating Success at AHR Expo 2024

A big thank you to everyone for making this event a success.
Read Article

Smardt Takes the Windy City at AHR Expo 2024!

Excitement is building as Smardt gears up for AHR Expo 2024 in Chicago! Join us at
Read Article

Smardt Malaysia Celebrates One Year of Success!

Smardt Malaysia is celebrating an exceptional year of growth and achievement.
Read Article

Product Support

Support in Canada

Telephone +1 514 426 8989
Email @smardt.com

Support in US

Telephone +1 
Email @smardt.com

Support in Europe

Telephone +

Email  @smardt.com

Support in SE Asia

Telephone +
Email @smardt.com

Support in China

Telephone +
Email  @smardt.com

Support in Australia

Telephone +
Email @smardt.com