Vertiv Acquires Centrifugal Chiller Technology to Broaden its Global Solutions Portfolio in Support of High-Performance Compute and AI

COLUMBUS, Ohio--(BUSINESS WIRE)--Dec 20, 2024--

Vertiv (NYSE: VRT), a global provider of critical digital infrastructure and continuity solutions, today announced the acquisition by its Chinese subsidiary of certain assets and technologies of BiXin Energy Technology (Suzhou) Co., Ltd (BSE), a manufacturer of chillers, heat pumps, heat-recovery solutions and air-handling units. Focused on expanding the Vertiv chiller family, the acquisition strengthens Vertiv’s portfolio of critical technologies and solutions in support of high-performance compute and AI applications globally. Founded in 2010, BSE brings to Vertiv an established and field-proven presence in the China market and other Asian regions, along with industry patents, advanced technology solutions and strong research and development capabilities that will reinforce Vertiv’s global offering.

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BSE’s core product offerings include oil-free, magnetic-bearing centrifugal water-cooled and air-cooled chillers incorporating pumped-refrigerant-economization technology, with cooling capacities of up to 5.5 MW. BSE is a leader in the Asia region on centrifugal technology, which is designed to provide high efficiency, low maintenance, quiet operation and high reliability.

“This acquisition supports our capital allocation strategy, which includes adding technologies that are early in the maturity curve to our portfolio,” said Giordano Albertazzi, Chief Executive Officer, Vertiv. “BSE’s solutions and technologies complement and reinforce Vertiv’s existing chiller portfolio and will assist us in addressing growing air and liquid cooling demand to support high-performance compute and AI. Vertiv has the most complete critical digital infrastructure portfolio and BSE further strengthens our technology offerings that we can provide to customers globally.”

Since early 2024, Vertiv has partnered with BSE to manufacture Vertiv-branded products for existing customers in China and throughout Asia. BSE is an Air Conditioning, Heating, Refrigeration Institute (AHRI) certified test facility, a China Refrigeration and Air-Conditioning Industry Association (CRAA) member and a China High and New-Technology Enterprise. Its products carry the AHRI-certified and CRAA-certified product labels. The combination of engineering, test and technology expertise in centrifugal chillers is complementary to Vertiv’s global chiller product portfolio.

“We’ve enjoyed an outstanding partnership with Vertiv and look forward to becoming a part of the company,” said York Zha, BSE’s CEO. “We’re excited to combine our portfolio with Vertiv’s to deliver a highly efficient and reliable offering of chiller and heat-recovery and reuse solutions for data center customers globally.”

About Vertiv

Vertiv (NYSE: VRT) brings together hardware, software, analytics and ongoing services to enable its customers’ vital applications to run continuously, perform optimally and grow with their business needs. Vertiv solves the most important challenges facing today’s data centers, communication networks and commercial and industrial facilities with a portfolio of power, cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network. Headquartered in Westerville, Ohio, USA, Vertiv does business in more than 130 countries. For more information, and for the latest news and content from Vertiv, visit Vertiv.com.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27 of the Securities Act, and Section 21E of the Securities Exchange Act. These statements are only a prediction. Actual events or results may differ materially from those in the forward-looking statements set forth herein. Readers are referred to Vertiv’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q for a discussion of these and other important risk factors concerning Vertiv and its operations. Vertiv is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Vertiv™ air-cooled chiller unit (Photo: Business Wire)

ZAGREB, Croatia (AP) — A 7-year-old girl died and a teacher and five other students were wounded in a knife attack at a school in the Croatian capital, Zagreb, on Friday, police said.

They said the attack happened at 9:50 a.m. at the Precko Elementary School in the neighborhood of the same name. They described the attacker as a “young male” and said he had been detained.

Health Minister Irena Hristic said the attacker was over 18, while media reported he was 19.

Video footage published by Croatian media showed children running away from the school building and a medical helicopter landing in the schoolyard.

Prime Minister Andrej Plenkovic said at the start of the government session that he is “appalled” by the attack and that authorities are still working to determine exactly what happened. Plenkovic said several children have been taken to various hospitals in Zagreb.

State HRT television said the attacker entered the school and went straight into the first classroom he found and attacked the children.

School attacks are rare in Croatia. Last May, a teenager in neighboring Serbia opened fire at a school in the capital Belgrade, killing nine fellow students and a school guard.

Police secure access to the elementary school where a 7-year-old girl died and a teacher and five other students were wounded in a knife attack in Zagreb, Croatia, Friday, Dec. 20, 2024. (AP Photo/Damir Krajac)

An ambulance helicopter takes off from the elementary school following a knife attack in Zagreb, Croatia, Friday, Dec. 20, 2024. (AP Photo/Damir Krajac)

Police secure access to the elementary school where a 7-year-old girl died and a teacher and five other students were wounded in a knife attack in Zagreb, Croatia, Friday, Dec. 20, 2024. (AP Photo/Damir Krajac)

Police secure access to the elementary school where a 7-year-old girl died and a teacher and five other students were wounded in a knife attack in Zagreb, Croatia, Friday, Dec. 20, 2024. (AP Photo/Ronald Gorsic)