Mitsubishi’s Climaveneta to invest ₹400 crore in manufacturing facility near Bengaluru

By Staff Report November 8, 2024 11:46 am IST

The company is investing around Rs 400 crore on a 2.5 lakh sq ft manufacturing facility, located at Narasapura, close to Bengaluru with an aim to capitilise on chiller market.

A Group company of Mitsubishi Electric, the Bangalore-headquartered Climaveneta Climate Technologies, is investing over INR 400 crore in the state-of-the-art plant at Narsapura, Kolar district, a key industrial hub located around 50 kms from Bengaluru. Climaveneta is a leading manufacturer of high efficiency cooling equipment, and precision as well as data center cooling systems. Presently having an order booking of over INR 500 Cr, the company is targeting to double the annual order intake in next 5 Years.

Climaveneta Climate Technologies (CCT), will also be a major export hub in cooling systems for nearby regions. 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. CCT Serves major clients all over India, that include leading global DC Companies, Multinational Hotel Chains, Health Care establishments, Malls, Multiplexes, Commercial Projects of Leading Developers, Corporate Groups and Industrial applications. 

Anil Dev, Chief Executive Officer, Climaveneta Climate Technologies, India, said:  “India’s rapid digitalisation, 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. CCT’s 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 & infrastructure for such projects.

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. The company is also a leader in providing other highly efficient HVAC products and solutions and has to their credit several innovations introduced by them in India.

“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 Anil Dev.

HVAC equipment accounts for a significant portion of a facility or a building’s energy consumption and operating costs. HVAC monitoring & diagnostic systems can help to 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. Europe and many developed countries are phasing out refrigerants that have global warming implications and hence alternative technologies are the need of the hour. The company’s products ensure zero percent ozone depletion and the current high demand for environment friendly and energy efficient cooling systems reflects this change.”

“Mitsubishi Electric plans to enhance its investment over the next few years and expand operations in and around Bangalore 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.

Apart from Climaveneta India, the Mitsubishi Electric Group already has two more of its companies in Karnataka region – Mitsubishi Elevator India Private Limited (IMEC) and Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC), a 50-50 joint venture between Japan’s Toshiba Corporation and Mitsubishi Electric Corporation, which manufacture Elevators, Escalators & UPS Solutions, respectively.