Trane Technologies Completes Acquisition of LiquidStack

The acquisition further strengthens Trane Technologies’ position as a full‑service provider of advanced, sustainable thermal management solutions for mission critical operations, and unlocks new opportunities to scale LiquidStack’s innovative technology globally. Together, the teams will bring customers an expanded portfolio of integrated data center cooling solutions that scale from the central plant to the chip and adapt as performance demands continue to evolve, creating a powerful global platform for sustainable, high‑density mission critical cooling.

“AI‑driven workloads are pushing power densities higher than ever before,” said Holly Paeper, President, Commercial HVAC Americas, Trane Technologies. “Customers need solutions that keep pace with these demands in a way that improves efficiency, reliability and sustainability. By combining Trane Technologies’ end‑to‑end thermal management expertise with LiquidStack’s advanced high-density liquid, direct‑to‑chip, and immersion cooling solutions, we will be uniquely positioned to deliver one of the most comprehensive and adaptable suites of thermal management solutions in the market. We’re delighted to welcome the LiquidStack team to Trane Technologies and accelerate our work and impact together.”

About Trane Technologies

Trane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our environmentally responsible portfolio of products and services, we bring efficient and sustainable climate solutions to buildings, homes, and transportation. Learn more at tranetechologies.com.

Forward-Looking Statements

This news release includes “forward-looking statements” within the meaning of securities laws, which are statements that are not historical facts, including statements that relate to the anticipated benefits of the Company’s acquisition of LiquidStack, and the anticipated impact of the transaction on the Company’s strategic initiatives and sustainability commitments. These forward-looking statements are based on our current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from our current expectations. Factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2025, as well as our subsequent reports on Form 10-Q and other SEC filings. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. We assume no obligation to update these forward-looking statements.