Green Investment In Oil Free Compressors

In 1999, Harbin B.V. provided financial and managerial backing to the Australian inventors of a newly patented technology, resulting in the formation of Turbocor, Inc, a start-up joint venture with the Quebec government, located in Montreal, Canada.

Turbocor’s magnetic bearing technology was utilized to create an oil-free compressor that redefined energy efficiency and lifetime operating costs for the air conditioning industry.  As Turbocor’s traction in the HVAC industry grew, Harbin B.V. and its partners bought out the Quebec government in 2002 and shortly thereafter brought in an industry giant, the multinational Danish company Danfoss A/S, as a partner.

Turbocor, Inc. was moved to Tallahassee, Florida (USA) in 2004 and renamed Danfoss Turbocor Compressors, Inc., a subsidiary of the Dutch partnership vehicle for Harbin and Danfoss, Danfoss Turbocorp Compressors B.V. (“DTC”).  After an additional 7 years of partnership leading to the global commercialization of the Turbocor compressor, Harbin B.V. successfully exited this investment with a sale of its 50% DTC interest to Danfoss in 2012.