New Water Street Corporation Receives National Energy Project Award from AEE for work with Trane

New Water Street Corporation Receives National Energy Project
Award from AEE for work with Trane

Award recognizes innovative energy management in the
retrofit of a premier New York City commercial office building

Atlanta, Sept. 28, 2017 – Trane®, a leading global provider of indoor comfort systems and services and a brand of Ingersoll Rand, announces New Water Street Corporation was awarded the “2017 National Energy Project of the Year” by the Association of Energy Engineers (AEE) at the AEE Awards Banquet held on Sept. 27 in Atlanta. As a part of the organization’s International Award program, the accolade recognizes innovative energy management in the retrofit of the organization’s 55 Water Street commercial structure in New York City.

55 Water Street stands today as one of New York City’s premier Class-A commercial office structures. In 2014, 55 Water Street undertook an initiative to strategically replace several large components of the existing chiller plant to improve cooling system efficiency, reduce building electric demand, improve system resiliency, simplify building operations and reduce the building’s carbon footprint.

"While this project included many unique elements, it presented us with the opportunity to make a tremendous impact in the building’s overall operational and energy efficiency,” said Brad Trevillian, director of Energy Services at Trane. “The retrofit underscores the impact that partnerships and technology have in providing long term environmental, financial and operational benefits.”

"We invested in the chiller plant upgrade and thermal storage system to meet our ongoing commitment to our tenants and the community to reduce the building’s impact on the environment, provide resiliency and create value,” said Dan Palino, chief operating officer of the New Water Street Corporation. “Since its implementation, the performance of the system has exceeded our expectations – reducing ongoing energy usage and improving the reliability of the electricity grid locally.”

Trane retrofitted the 55 Water Street’s chiller plant by upgrading the existing standard-duty chillers, one electric drive and one steam turbine, totaling 6,000 tons of refrigeration (TR). The retrofit included high-efficiency chiller replacements, the installation of a thermal energy storage system and the implementation of a building automation system.

As a result, 55 Water Street has seen the following results, which earned the 2017 Energy Project of the Year Award from the New York Association of Energy Engineers:

  • Annual energy savings of over 2,000,000  kWh;
  • Summer peak demand reduction of 2.1 MW;
  • A carbon footprint offset of 36 million lbs. CO2e;
  • Annual building operational cost savings of $2.5 million;
  • Internal rate of return of 12.8%;
  • Receipt of approximately $938,000 in incentives from the New York State Energy Research and Development Authority (NYSERDA) Existing Facilities Program.

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About Ingersoll Rand
Ingersoll Rand (NYSE:IR) advances the quality of life by creating comfortable, sustainable and efficient environments. Our people and our family of brands—including Club Car®, Ingersoll Rand®, Thermo King® and Trane®—work together to enhance the quality and comfort of air in homes and buildings; transport and protect food and perishables; and increase industrial productivity and efficiency. We are a $13 billion global business committed to a world of sustainable progress and enduring results.

Trane solutions optimize indoor environments with a broad portfolio of energy efficient heating, ventilating and air conditioning systems, building and contracting services, parts support and advanced control. For more information, visit or

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