LG Electronics wins contract to supply heat pumps to large European housing complexes
LG Electronics secured contracts for large housing complexes in Spain and Serbia as it expands its HVAC footprint in Europe’s fast-growing heat pump market.
LG Electronics has won a series of bidding contracts to supply heat pumps for large residential complexes across Europe as it seeks to broaden its foothold in the region's HVAC market, the company said Wednesday.
HVAC stands for heating, ventilation and air conditioning.
The company notably secured a contract to supply a high-efficiency air-to-air heat pump system, which extracts thermal energy from the outside air to provide both space heating and cooling, to a residential complex of more than 1,000 households in the Calle Fuerzas Armadas in València, Spain.
Its large-capacity heat pump product, the LG Multi V i, is currently being installed at the site.
The LG Multi V i features a high-efficiency inverter compressor and AI-based control technology. It complies with European environmental regulations because of its R32 refrigerant, which has roughly 30 percent of the global warming potential of the conventional R410A refrigerant.
The tailored approach that accommodated local customer requirements from design and certification to installation helped secure the contract, LG Electronics said.
The company also attributed its win to its single port shutoff valve unit, which is designed to be smaller and lighter than competing products and to enhance space efficiency. The valve detects and blocks refrigerant leaks.
The company is also expanding its presence in Eastern Europe.
LG Electronics is supplying the Multi V i and Multi V S systems to the "Kings Circle" and
"The One" residential projects in Belgrade, Serbia, which together comprise about 500 households. The system can provide heating, cooling and hot water from a single outdoor unit, all of which reduce construction and installation costs.
LG Electronics is set to deepen its push into the European heat pump market, which is projected to reach $46 billion by 2032, according to market research firm MMR Statistics.
The company strives to expand its market share with products using environmentally friendly refrigerants such as R290.
LG Electronics has supplied heat pumps to new housing developments in Eindhoven and Ridderkerk in the Netherlands. It has also completed heat pump installations in more than 100,000 homes across five southern European countries, including France and Spain.
“European customers consider not only energy efficiency but also environmental sustainability and ease of installation,” said Lee Jae-sung, president of Eco Solution Company under LG Electronics.
“Leveraging our differentiated heating and cooling solutions and engineering capabilities, we will continue to expand our presence in the European market.”
BY PARK YOUNG-WOO [[email protected]]
