Kim Fausing’s Post

This week we opened our new Danfoss Turbocor® factory in Tallahassee in Florida. We are pioneers of oil-free compressor technology, and the state-of-the-art 145,000 square foot facility will allow us to double our manufacturing capacity for TTS/TG/TH Turbocor compressor lines. North America is our largest market, and this new factory enables us to better serve our customers and to meet the growing market demands for solutions that support decarbonization. Our new factory embodies this commitment, utilizing Turbocor compressors, solar power, and a heat recovery system to reduce carbon emissions and energy usage. It is also another important step towards reducing our climate impact and meeting our #ESG goal of becoming carbon-neutral in our global operations by 2030. Congratulations to the Danfoss Turbocor team for pushing the boundaries in technology, products, applications and customer service. This is what it takes to achieve the goal of a better and decarbonized future! Read more in our press release: https://lnkd.in/dFQEX6SS #SustainableInnovation #OilFree #Turbocor #EngineeringTomorrow #WhyEE #EnergyEfficiency #Decarbonization

Sønderborg to Nairobi.   Great to hear International Energy Agency (IEA) Executive Director Fatih Birol comment on the progress made since we met in Sønderborg in Denmark at the 7th Annual Global Conference on Energy Efficiency.   Faith Birol was right to point out that countries have different energy potentials. Wind, sun, oil, gas. Yet, all countries share the potential of the “first fuel” – energy efficiency.   Unfortunately, we still don’t see enough of a push on energy efficiency although energy efficiency progress is a key milestone for limiting global warming to 1.5C by the middle of this century and can help boost economies quickly and deliver long-term benefits like increased competitiveness for industries.   Danfoss wants to be part of the solution and help the world build a better future. This year Astrid Mozes, our President of Regions, led the discussions in the Business Leaders Roundtable and reported the key outcomes in the Minister-CEO dialogue moderated by our great friend Brian Motherway with Dan Jørgensen, Kadri Simson, and others.   A great pleasure to hear Astrid and other business leaders present tangible examples of some of the things we can do already today to move the needle on energy efficiency – and urge governments and businesses alike to live up to the global commitment made at #COP28 in #Dubai: Doubling annual energy efficiency improvements in this decade. 

We are in Istanbul celebrating 25 years of operations in Türkiye. Our purpose at Danfoss is to help build a better future, which is why Danfoss is proud to be a part of Türkiye’s decarbonization, energy efficiency, and sustainability journey. With skilled and competitive colleagues and deep application know-how, Danfoss Türkiye drives sustainable innovation to create value for our customers. We are all set to help Türkiye reach its decarbonization goals of achieving carbon neutrality by 2053! That’s why our operations in Türkiye continue to grow and today consist of more than 2000 employees, working out of 4 production sites which produce for both local and global markets and 2 sales offices. Türkiye is a key market, being ranked sixth in Europe’s electricity sector, fourth in geothermal energy capacity globally, first in agriculture production in Europe, and tenth globally. It boasts a fast-growing economy, offering dynamic business opportunities, and facilitating trade and market expansion. The triple-digit growth in our business in Türkiye is a testament to the significant shift towards solutions that increase energy efficiency and lower emissions. Congratulations to Ziad Al-Bawaliz and my 2000 colleagues in Danfoss Türkiye! #Innovation #SustainableGrowth #Decarbonization #Electrification

Dr Fatih Birol hits the nail on the head in his interview with Financial Times' Alice Hancock when he says that Europe needs a “new industrial master plan.”   Energy should be at the core of a well-functioning single market and competitive industrial strategy.   Europe has been a leader on the climate agenda but to continue and accelerate the green transition we need to ensure climate policies go hand in hand with industrial policies.   By focusing on readily available solutions that increase energy efficiency and accelerate electrification, we can improve Europe’s competitiveness, increase demand for green technologies and help deliver an affordable, secure, and decarbonized future.   At Danfoss, we are ready to share our experience from around the world and help Europe build a better future. https://lnkd.in/dR9AAum2 #EnergyEfficiency #WhyEE #Electrificaiton #Decarbonization #SustainableFuture  

Today marks yet another extraordinary milestone for Danfoss as we commence the construction of the new Danfoss Haiyan Campus in China.   China stands as an important market for Danfoss. Through our focus on energy efficiency, enhanced machine productivity, reduced emissions, and electrification, we are actively contributing to China's transition towards a green, low-carbon economy.   During my recent visit for the China Development Forum, I was once again reaffirmed of the immense potential within China. This realization fuels our ongoing commitment to invest in cutting-edge innovation and state-of-the-art technology production.   The new Danfoss Haiyan Campus signifies an important step forward in bolstering our presence in the country and underscores our transition from “Made in China” to proudly declaring “Created in China.”   I extend sincere gratitude to H.E. Ambassador Thomas Østrup Møller, Chen Wei, Party Secretary of Jiaxing City, Wang Suishe, Party Secretary of Haiyan County, and all esteemed guests and colleagues who graced today’s ceremony including Eric Alstrom, President, Danfoss Power Solutions, Arthur Xu, President of Danfoss China and the whole Danfoss China team. Read more: https://lnkd.in/dty_rZFQ #DanfossChina #Innovation #GreenFuture #EngineeringTomorrow

In 2023, China surpassed all records by installing more solar panels than any other nation has ever built in total!      China’s strides in electrification and energy efficiency are commendable, and Danfoss is proud to contribute to China’s energy transition.     In the past 28 years since Danfoss first came to China, our business has grown rapidly, and, over the years, China has achieved great progress in electrification and energy transition.      High-quality development, putting quality over quantity, tops China’s agenda. Industries are now focusing on improving their sustainability performance. In Danfoss, we have rich experiences in high-quality development, especially our proven decarbonization approach.      First, we apply energy-efficient solutions to reduce energy consumption. Second, we reuse energy wherever possible. Finally, we recommend sourcing any remaining demand from renewable sources. This approach delivers an affordable, secure, and decarbonized future.     As I said in my message to the China Development Forum, in this era of interconnectedness, fostering close partnerships is paramount, and the China Development Forum was a great opportunity to discuss key topics and global issues with the best minds of the global business and academic community.       We eagerly anticipate deepening our collaboration with our Chinese partners as we collectively strive to build a better, more sustainable future. #ChinaDevelopmentForum #Decarbonization #EnergyEfficiency #WhyEE

Happy #InternationalWomensDay   March 8 is a day dedicated to honoring women’s achievements. Achieving true gender equity is not just a goal for Danfoss, it’s a necessity for our transformation.   At Danfoss, we champion the removal of barriers that hinder women’s advancement because high-performing, diverse teams are the foundation of our success and crucial for our commitment to be the preferred decarbonization partner for our customers.   I am proud to lead Danfoss’ mentoring program for women in senior leadership positions. This program helps them grow, develop, and build strong networks through coaching and learning. I also want to acknowledge the efforts of our Employee Resource Groups (ERGs). They help us identify and remove existing barriers for inclusion at Danfoss around the world.   Diversity comes in many forms and we aim for a minimum of two genders and two nationalities in management levels. Our target is to reach an index of 80% by 2030. In 2023, we reached 75.5%, significantly better than last year’s level of 67.4%.   We are not there yet, and we continue to invest in the development of women candidates to fill our talent pipeline.   Read more about Diversity, Equity and Inclusion in our Integrated Annual Report: https://bit.ly/3uNwZjH #InspireInclusion #WeAreDanfoss #IWD

I am excited that we continued the positive development despite increasing headwinds in the global economy. Through bold investments in our green growth strategy, we continued to expand our offering of competitive and innovative solutions. We managed to grow sales by 7% in local currencies and 4% reported to EUR 10.7 billion. Earnings increased by 10%, and we delivered a record cash flow of EUR 692 million, up 49%. This is a result of strong teamwork across the entire organization. Results are created by people, and our empowered and high-performing, diverse teams are the foundation of everything we do. I would like to thank all my colleagues around the world for their passion and engagement, which was fundamental for delivering our results. In 2023, we continued strengthening the leading positions of our three segments with increasing investments in innovation. We also continued building an even more resilient supply chain by further investing in regionalizing and adding new capacity. Moreover, we are on track with the integration of our three transformational acquisitions, and it’s great to see how our new colleagues have quickly become part of our team. Another highlight is the growth momentum in our high-growth opportunities like data centers, the electrification of heating systems, EVs, on- and off-highway vehicles, as well as marine vessels, and hydrogen production. Finally, on sustainability, I am very excited to see how we continued to implement our green growth strategy, and at the same time decouple our organic growth from our own emissions. The more challenging business environment in the second half of 2023 has continued into 2024. However, Danfoss remains focused on serving and delivering strong value to our customers and partners all over the world. We are more than ready to continue our collaboration in 2024. https://bit.ly/3uNwZjH #AnnualReport #AnnualResults #Danfoss2023 #WeAreDanfoss #WhyEE #EnergyEfficiencyDay #EnergyEfficiency #Decarbonization #DKBiz

Today, the International Energy Agency (IEA) marks its 50th Anniversary.     I want to congratulate Dr Fatih Birol and his team on the anniversary.      Danfoss’ purpose is to be part of the solutions and help the world build a better future, so we were proud to support IEA during the 7th Annual Global Conference on Energy Efficiency in Sønderborg, close to our headquarters campus.      Sønderborg’s ProjectZero model focuses on creating and demonstrating an intelligent and integrated energy system across an entire municipality, where energy is saved and reused cost-effectively everywhere. ProjectZero is one of the main reasons Dr. Faith Birol named Sønderborg “the global capital of energy efficiency.”     When energy and climate ministers from around the world meet for the IEA 2024 Ministerial Meeting, they will take stock of the latest developments in energy markets, policies, and transitions – and set the Agency’s strategic direction for the coming years. One important message from me and Danfoss is that it’s not enough to add renewable energy capacity if we don't prepare our energy system for using renewables at the same time.     We need to double the improvements in energy efficiency towards 2030 – across transport, industry, and buildings - to deliver an affordable, secure, decarbonized future. We must reduce energy consumption and reuse energy wherever possible.      In the future energy system, energy efficiency must take center stage. Technology is there and with a short payback time. Regulation and partnerships are needed! #EnergyEfficiency #WhyEE #EngineeringTomorrow #ProjecZero #Decarbonization