Carrier, ecobee Expand Strategic Relationship

CHICAGO, Jan. 26, 2015 — Carrier Corp. has made a minority equity investment in ecobee, Inc., marking an expansion in the parties’ strategic relationship following their collaboration to create the new Wi-Fi-enabled Carrier® Côr™ thermostat. ecobee created the world’s first Wi-Fi-enabled smart thermostat, delivering increased comfort and energy savings to customers. Carrier, the world’s leader in high-technology heating, ventilating and air-conditioning solutions, is a part of UTC Building & Industrial Systems, a unit of United Technologies Corp. (NYSE:UTX).

“The Carrier team is excited by the opportunities this relationship will provide,” said Chris Nelson, president, North American HVAC, Carrier. “By bringing together the strengths of both companies, from Carrier’s experience in manufacturing world-class heating and cooling products to ecobee’s leadership and innovation in smart thermostats, our customers will benefit as we provide even more advanced offerings for the smart home of today and tomorrow."

“Being selected as the thermostat technology to power the Carrier Côr thermostat is significant validation and testament to the pioneering technology ecobee has been developing since 2007,” said Stuart Lombard, CEO, ecobee. “This strategic relationship with Carrier will help put ecobee’s energy-saving technology into more homes across America.”

Terms and details of Carrier’s equity investment in ecobee were not disclosed.

For more information about Carrier’s home comfort solutions, visit www.carrier.com/homecomfort or follow @CarrierAtHome on Twitter.

About Carrier
Founded by the inventor of modern air conditioning, Carrier is the world’s leader in high-technology heating, air-conditioning and refrigeration solutions. Carrier experts provide sustainable solutions, integrating energy-efficient products, building controls and energy services for residential, commercial, retail, transport and food service customers. Carrier is a part of UTC Building & Industrial Systems, a unit of United Technologies Corp., a leading provider to the aerospace and building systems industries worldwide. For more information, visit www.carrier.com or follow @CarrierAtHome and @CarrierGreen on Twitter.

About ecobee
ecobee, Inc., based in Toronto, Canada, introduced the world’s first wi-fi connected smart thermostat in 2009. The company continues to innovate in the smart thermostat space and launched ecobee3 with remote sensors in 2014. ecobee’s award-winning thermostats have enabled hundreds of thousands of consumers to control their home comfort anytime and from anywhere, using their smartphone, tablet or computer. For more information, visit www.ecobee.com.

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