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GEA Group Aktiengesellschaft: GEA RT becomes GEA Heating & Refrigeration Technologies

DGAP-News: GEA Group Aktiengesellschaft / Key word(s): Miscellaneous GEA Group Aktiengesellschaft: GEA RT becomes GEA Heating & Refrigeration Technologies (news with additional features) 13.10.2021 / 10:00 The issuer is solely responsible for the content of this announcement. GEA RT becomes GEA Heating & Refrigeration Technologies

- GEA increasingly offers customers solutions to help reduce CO2 emissions

- Investing high-digit million-euro sum in test centers

- Renaming reflects better integration of heating and cooling technology

Düsseldorf, 13 October 2021 - GEA Group today announced that its Refrigeration Technologies division is now operating under the name GEA Heating & Refrigeration Technologies. The renaming reflects GEA's leading position as a supplier of sustainable heating and cooling technology under one roof. This allows GEA to offer its customers solutions with increased efficiency and reduced CO₂ emissions, helping them to accelerate the transition to greener technologies.

Heat accounts for more than half of the global total final energy consumption and is today still mainly produced by using fossil fuels. Companies are consequently looking for better ways to reduce their carbon footprint and to optimize their energy efficiency. In applications such as food, beverage and dairy processing, products are usually heated up and then refrigerated. GEA's heat pumps reuse and upcycle waste heat from essential refrigeration processes and repurpose it in the production process. This significantly reduces the energy demand of many industries. Simply put: Heat that would be wasted can now be used to replace carbon emissions.

"Our name change clearly signals our long-term commitment to the growing heating and refrigeration market by providing our customers with integrated solutions that are more energy efficient and better for the environment," says Kai Becker, CEO of GEA Heating & Refrigeration Technologies. "We have the knowledge, the technology and the ability to successfully implement innovative projects that enable customers to build green factories that comply with current and future emission targets."