Johnson Controls acquires M&M Carnot  

Johnson Controls acquires M&M Carnot to enhance sustainable Industrial Refrigeration portfolio 

• Acquisition addresses the growing need for ultra-low global warming potential refrigerant technologies 
• Unique CO2 technology broadens Johnson Controls’ portfolio of sustainable solutions to help customers achieve net zero emissions 

June 21, 2023 — Johnson Controls (NYSE: JCI), announced the acquisition of M&M Carnot, a leading provider of natural refrigeration solutions with ultra-low global warming potential (GWP).

“It’s an exciting time in our industry as we continuously seek new opportunities to accelerate the deployment and adoption of safe and sustainable solutions and services,” said Claude Allain, president, Johnson Controls HVAC/R and data centers. “M&M Carnot is well-positioned in its ability to deliver ultra-sustainable industrial refrigeration solutions and will allow us to better serve our growing customer base in this vertical.”

M&M Carnot designs and manufactures industrial refrigeration equipment and controls that use carbon dioxide (CO2), which has a GWP of 1.

“We’re excited to join global leader Johnson Controls to accelerate our passion for providing sustainable, natural refrigeration solutions that are safe for people and the planet,” said David Sholtis, CEO, M&M Carnot. “The support and resources of Johnson Controls will allow us to scale the business faster by bringing our innovative, environmentally friendly refrigeration and cooling technologies to a growing market in search of energy efficient, green technology. We believe that together, we’ll bring exciting new opportunities for our customers and employees alike.”

Based in Annapolis, Maryland and in Trois Rivières, Quebec, Canada, M&M Carnot will add to the growing portfolio of Johnson Controls industrial refrigeration equipment operating on ultra-low GWP refrigerant CO₂. M&M Carnot is one of North America’s largest providers of transcritical CO₂ solutions.