Is LG Electronics Partnering with Saudi Arabia for HVAC Solutions?

Synopsis
Key Takeaways
- LG Electronics partners with Saudi Arabia for HVAC solutions.
- Focus on high-efficiency climate control technologies.
- Involvement of Shaker Group and local universities.
- AI technology to optimize energy use in air conditioning.
- LG's expansion into European heating markets through acquisition.
Seoul, July 6 (NationPress) LG Electronics, a prominent manufacturer of home appliances in South Korea, announced on Sunday its collaboration with Saudi Arabia to create advanced heating, ventilation, and air conditioning (HVAC) solutions tailored for areas experiencing extreme heat.
As part of this initiative, LG Electronics will embark on a joint research venture focused on innovating HVAC technologies that ensure high efficiency and performance even in sweltering conditions. This project involves partnerships with the Shaker Group, a leading home appliances company in Saudi Arabia, along with researchers from King Saud University in Riyadh and Pusan National University located in Busan, South Korea, as stated by the company officials.
Under this partnership, LG Electronics is set to supply system air conditioners for both commercial and residential usage in the Middle Eastern nation, with installation and operations managed by the Shaker Group, as reported by Yonhap news agency.
Specifically, LG plans to test its AI-powered engine, which enhances energy efficiency by automatically adjusting air conditioning in response to temperature changes.
"This collaboration represents a vital opportunity for us to reinforce our expertise in HVAC solutions designed for extremely hot climates," remarked an LG Electronics official.
"We are committed to boosting our technological prowess in the global HVAC sector by methodically developing research and development infrastructures tailored to various climate zones."
Last month, LG Electronics also announced its acquisition of a Norwegian hot water storage company, aiming to bolster its position in the European air and water heating markets. The company acquired a complete stake in OSO Group AS, recognized for its innovative stainless steel hot water tanks, to expand into the water heating segment alongside its current air heating operations.
Details regarding the acquisition price were not disclosed. "LG Electronics’ high-efficiency air-to-water heat pump (AWHP) systems, in conjunction with OSO Group's state-of-the-art hot water storage solutions, are expected to enhance our presence in Europe’s HVAC market," the company declared in a statement.