The Panasonic Corporation has acquired 40 per cent of INNOVA’s total shares.
INNOVA is an Italian manufacturer of hydronics systems, air quality and air conditioning equipment.
Through this agreement both parties will promote comprehensive collaboration on production, sales, and primarily in technology development of hydronics systems (such as domestic hot water x heating & cooling), air conditioning, and ventilation business.
Moreover, the rise in environmentally aware housing with high insulation and high airtightness requires a total solution that incorporates better indoor air quality (IAQ) through ventilation.
INNOVA offers a varied product lineup including fan coil units and various heat pumps for hydronic systems , central ventilation systems (total heat exchangers), integrated central air conditioning, and IoT-controlled systems.
Panasonic is active in Europe in air-to-water heat pumps and air conditioners for homes, commercial variable refrigerant flow systems, packaged air conditioners, and hydronic systems from Systemair AC, which it acquired last year.
INNOVA and Panasonic will combine resources to promote designs and new solutions.
INNOVA CEO Oreste Bottaro said combining resources will help the company grow and prosper.