Mitsubishi Electric-owned Climaveneta to Invest INR 400 crore in Manufacturing Facility near Bengaluru With a current order booking of over INR 500 crore, the company is targeting to double the annual order intake in next 5 years.

Climaveneta Climate Technologies, a group company of Japanese multinational Mitsubishi Electric, is investing over INR 400 crore in the second phase of its manufacturing plant in Kolar district, a key industrial hub located around 50 kilometers from Bengaluru.

Climaveneta is a leading manufacturer of high efficiency cooling equipment and precision as well as data center cooling systems. With a current order booking of over INR 500 crore, the company is targeting to double the annual order intake in next 5 years.

Climaveneta claims to be India's fastest growing chiller producer and a market leader in co-location data center chillers in India. About 40 per cent of the company's revenue comes from the growing data center market.

The plant will manufacture central air-conditioning equipment such as Screw Chillers, Magnetic Levitation Technology Chillers, Scroll Chillers, Conventional Centrifugal Chillers, High Precision AC units, Heat Pumps, for HVAC application.

The company serves major clients all over India, that include leading global data centerb companies, multinational hotel chains, healthcare establishments, malls, multiplexes, commercial projects of leading developers, corporate groups and industrial applications.

"India's rapid digitalization, driven by government initiatives, e-commerce, cloud adoption, and AI, calls for a strong data center infrastructure, to support this growth. Reliable cooling systems are essential to prevent equipment failures in data centers. Climaveneta Climate Technologies' advanced, sustainable, and efficient air conditioning solutions ensure ideal environments across data centers, commercial buildings, healthcare, manufacturing, and more, supported by intelligent plant automation and optimisation solutions to provide the most reliable and efficient environment and infrastructure for such projects," said Anil Dev, Chief Executive Officer, Climaveneta Climate Technologies, India.

Climaveneta India is building on the high demand and growth story of the data center markets in India. This market is concentrated largely in West India (Navi Mumbai), followed by Chennai, Bengaluru, Hyderabad, Pune and Kolkata.

"Bengaluru, with its skilled talent and established industries, is ideal for our facility, which will create approximately 500 jobs. It will also manufacture a wide range of central air conditioning equipment for both domestic and international markets. We will always strive to bring efficient technologies to the Indian market and pursue ethical growth by giving highest priority to sustainability and protection of the environment," added Dev.

HVAC equipment accounts for a significant portion of a facility or a building's energy consumption and operating costs. HVAC monitoring and diagnostic systems can help lower these expenditures by continuously monitoring the environmental conditions, health and operating efficiency of the plant, providing automatic alerts in case of deficiency in performance. They also help to minimise breakdowns.

Masafumi Ando, Chief Executive Officer, Mitsubishi Electric Hydronic and IT Cooling S.p.A, said, "The group is targeting 2050 for achieving complete carbon neutrality and Climaveneta India is playing a major role in this plan. Climaveneta India's products are vital now given the buoyant Indian economy and also the sudden and rapid change in industrial dynamics."

Mitsubishi Electric plans to enhance its investment over the next few years and expand operations in and around Bengaluru as well as other locations. "The vast availability of skilled manpower and the presence of manufacturing and technology companies in the city and a favourable government policy is the biggest pull factor for Mitsubishi Electric," said Atsushi Takase, Managing Director, Mitsubishi Electric India.