Gree Electric Appliances, Inc. of Zhuhai (Gree) (000651.SZ), a world-leading 
air conditioner and home appliances manufacturer, was named as the grand winner 
of the 2021 Global Cooling Prize for its innovative "Zero Carbon Source" 
cooling technology. 

"Gree is a diversified technological global industrial group that has expanded 
its business to household consumer goods and industrial equipment and it 
insists on continuous innovation and R&D to improve people's lives. The 
climate-friendly air conditioning technology awarded the Grand Winner at the 
Global Cooling Prize will reduce the carbon emission impact of existing air 
conditioners by 80 percent," said Ms. Dong Mingzhu, Chairperson and President 
of Gree Electric Appliances. 

The Global Cooling Prize was jointly launched in 2018 by Rocky Mountain 
Institute, Government of India and Mission Innovation, which is committed to 
developing breakthrough innovative cooling technologies that have five times 
(5X) less climate impact than standard air conditioning units available on the 
market today (including indirect carbon emissions generated by grid electricity 
and direct carbon emissions corresponding to the greenhouse effect of 
refrigerants), so as to solve the threat to climate caused by the 
ever-increasing demands for residential air conditioners . 

Gree's innovative "Zero Carbon Source" cooling technology integrates advanced 
vapor compression refrigeration, photovoltaic direct-driven, evaporative 
cooling, ventilation and more, which efficiently utilizes renewable energy 
sources and free cooling sources. 

The climate impact of Gree's new design with "Zero Carbon Source" cooling 
technology is less than one fifth of conventional air conditioners. Through 
innovation and intelligent design, Gree's climate-friendly technology is a 
major breakthrough in the energy efficiency limitations of conventional air 
conditioners. 

With rapidly growing populations and accelerated urbanization, it is estimated 
that by 2050, global demand for room air conditioners will increase from 1.2 
billion units in 2016 to 4.5 billion units. When climate-friendly cooling 
solutions are effectively promoted and applied, 100 billion tons of carbon 
dioxide equivalent emissions can be avoided, helping the world to mitigate over 
0.5°C of global warming by 2100 while improving the quality of life for people 
living in hot and humid climates. 

About Gree 

Founded in 1991, Gree is a diversified technological global industrial group 
that has expanded its business to household consumer goods and industrial 
equipment under three brand names: GREE, KINGHOME and TOSOT. 

For more information visit http://global.gree.com/.

Source: Gree Electric Appliances, Inc


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   Caption: Leading AC Manufacturer Gree Named ‘2021 Global Cooling Prize’ 
Grand Winner