LG Electronics to work with Saudi Arabia to develop HVAC solutions

Seoul, July 6 (IANS) LG Electronics, South Korea's leading home appliance maker, said on Sunday it will join hands with Saudi Arabia to develop heating, ventilation and air conditioning (HVAC) solutions for regions prone to extreme heat.

LG Electronics has decided to conduct a joint research project on developing HVAC technologies that deliver high-efficiency and high-performance even under extremely high temperatures with Saudi's major home appliances company Shaker Group and researchers from King Saud University in Riyadh and Pusan National University in Korea's southeastern city of Busan, according to company officials.

Under the joint project, LG Electronics will provide system air conditioners for commercial use and households in the Middle Eastern country, which will be installed and operated by Shaker Group, reports Yonhap news agency.

In detail, the Korean company plans to test its engine powered by artificial intelligence (AI), which can increase energy efficiency by automatically controlling air conditioning in line with the temperature.

"This collaboration will serve as an opportunity for us to further strengthen our capabilities in HVAC solutions tailored for extremely hot regions," an LG Electronics official said.

"We will continue to enhance our technological competitiveness in the global HVAC market by systematically establishing research and development infrastructure for each climate zone."

Last month, LG Electronics said it has acquired a Norwegian hot water storage company to strengthen its foothold in the European air and water heating markets. The company said it acquired a 100 percent stake in OSO Group AS, a firm known for its smart stainless steel hot water tanks, aiming to enter the water heating segment in addition to its existing air heating business.

LG Electronics did not disclose the acquisition price. "LG Electronics' high-efficiency air-to-water heat pump (AWHP) systems, combined with OSO Group's innovative hot water storage solutions, will help the company expand its presence in Europe's heating, ventilation and air conditioning (HVAC) market," the company said in a statement.

—IANS

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