MHIAE Earns "2023 Company of the Year" Award to be Identified as the Best in Class in the European Commercial Heat Pumps Industry
-- High Marks to Meet Europe's Demand for Low-Carbon, Energy-Efficient, and Cost-Effective Water Heating Solutions from the Regional, Commercial, and Industrial Sectors --

Tokyo, July 5, 2023 - Mitsubishi Heavy Industries Air-Conditioning Europe, Ltd. (MHIAE), part of Mitsubishi Heavy Industries (MHI) Group, UK based subsidiary, has been selected "Company of the Year" evaluated with its product range of commercial heat pumps sold in the European market. The award is presented annually by Frost & Sullivan, a U.S.-based international growth strategy consulting and research firm, in recognition of globally outstanding technologies and services. This is the first time for MHIAE to receive this award.

The "Company of the Year" award is given to companies demonstrating exemplary excellence in such aspects of visionary innovation, market-leading performance, and unmatched customer care. In making its selections, Frost & Sullivan uses its own set of criteria: these include evaluations of how well a company responds to potential customer needs, how strongly it demonstrates market leadership and has achieved a solid market position, and how well its products or services provide optimal cost performance compared to those of competing firms.

MHIAE received high marks in two main respects, 1) providing low-carbon solutions to support Europe's ongoing shift towards secure and sustainable heating, with lineup of heat pumps, especially its "Q-ton" commercial heat pumps made by Mitsubishi Heavy Industries Thermal Systems, Ltd., 2) addressing unmet needs of heat pumps in the market with a strong leadership focus through reacting to local preferences and specific customer needs.

In Europe's transition to sustainable heating, heat pumps have become desirable to many businesses as an environmentally friendly, low-carbon alternative to natural gas-based heating. With sustainable cooling and heating solutions that encourage a carbon-neutral world, MHIAE focuses on delivering cutting-edge technology to ensure optimum performance and cost-effective solutions for its customers. Its optimized air-to-water heat pumps, which are up to five times more energy-efficient than existing natural gas boilers, lead the way in low-carbon energy solutions within the European market.

Q-ton is a heat pump water heater with a rated capacity of 30kW, which supplies hot water at 90℃ even when the outdoor temperature is -25℃. The unit has the capacity of achieving the industry's highest mid-term season (spring/autumn) COP of 4.3(Note). Q-ton's high energy efficiency under all operating conditions is through its "scroll and rotary compressor", this is the world's first compressor which combines both scroll compressor and rotary compressor, the one with superior mechanism for high refrigerant pressure ratio, and another superior for low pressure ratio. This compressor also adopts gas injection mechanism in intermediate pressure ratio condition, circulating more refrigerant in the heat pump cycle and achieving necessary heating capacity in low outdoor temperatures.

With the encouragement derived from receipt of the Frost & Sullivan award, going forward MHI Group will continue to devote its resources to the development of technologies and products that respond to customer needs and to the special challenges faced by specific regions. The Company will also apply its comprehensive technological capabilities, derived from synergies from its broad-based air-conditioning and refrigeration operations, to make significant contributions to realizing a carbon neutral world.

• This coefficient of performance is an index of energy efficiency during moderate mid-term season temperature conditions: 16℃ outdoor temperature, 17℃ inlet water temperature, 65℃ hot water supply temperature. Higher COP values indicates higher energy efficiency.