Johnson Controls Awarded A $33M DOE Grant To Accelerate U.S. Heat Pump Manufacturing
Portfolio Pulse from Benzinga Newsdesk
Johnson Controls (NYSE:JCI) received a $33M DOE grant to expand U.S. heat pump manufacturing, increasing production by 200% and creating 1,000 jobs. Facilities in Texas, Kansas, and Pennsylvania will produce 200,000 heat pumps annually, reducing CO² emissions by 25 million metric tons per year. The expansion is part of the Defense Production Act to boost clean energy tech and will involve local partnerships for workforce development.
November 20, 2023 | 8:15 pm
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Johnson Controls awarded a $33M grant to expand heat pump production, which will likely increase revenue and enhance its sustainability image.
The grant will enable JCI to significantly increase its production capacity, which is expected to boost sales and revenue in the short term. Additionally, the company's alignment with sustainability goals and job creation is likely to positively influence investor perception and potentially the stock price.
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