Modine (NYSE: MOD), a global leader in thermal management technology and solutions, today announced that it has entered into a significant long-term capacity agreement (LTA) with one of its strategic data center customers for its Airedale by Modine cooling solutions.

The agreement solidifies the company’s position as a premier provider of advanced cooling technologies for the rapidly expanding data center market and underscores the strength of its customer partnerships.

Under the terms of the LTA, Modine will guarantee capacity to supply more than $4 billion of its cutting-edge Airedale data center cooling products for sale to the customer during calendar years 2027 through 2029.

In connection with the LTA and capacity commitment, Modine received an upfront cash payment of $165 million from the customer to support capacity investments and other expenditures needed to meet its commitments.

This agreement advances Modine’s strategic objective of accelerating growth in its data centers segment and reflects the collaborative approach Modine takes with key customers.

"This landmark agreement is a testament to the successful execution of our long-term strategy to grow our data centers business and validates our position as a technology leader," said Neil D. Brinker, president and chief executive officer of Modine.

"We are focused on providing our key customers with the mission-critical cooling solutions necessary to support the build-out of the digital economy, and this agreement is a perfect example of that commitment in action."

Art Laszlo, president of Modine's data centers segment, commented, "Securing this substantial, multi-year agreement with a strategic partner highlights the strength of our Airedale technology and our ability to deliver innovative, reliable cooling solutions at scale.

"The dedicated capacity and upfront investment will allow us to confidently expand our operations to meet the stringent demands of our customers. This is an exciting opportunity for our business, and we are proud to support our customer’s growth trajectory with our advanced Airedale solutions."

About Modine

For more than 100 years, Modine has solved the toughest thermal management challenges for mission-critical applications. Our purpose of engineering a cleaner, healthier world means we are always evolving our portfolio of technologies to provide the latest heating, cooling, and ventilation solutions.

Through the hard work of more than 11,000 employees worldwide, our businesses advance our purpose with systems that improve air quality, reduce energy and water consumption, lower harmful emissions, enable cleaner running vehicles, and use environmentally friendly refrigerants. Modine is a global company headquartered in Racine, Wisconsin (US), with operations in North America, South America, Europe, and Asia.

For more information about Modine, visit modine.com