RHEEM ANNOUNCES PARTNERSHIP WITH PLUG AND PLAY

2019-06-06

ATLANTA – Rheem®, a leading global water heating and HVAC firm, today announced its partnership with Plug and Play, a global innovation and startup accelerator platform. Rheem joins as an ecosystem partner for the Plug and Play Internet of Things vertical. 

Established in 2006, Plug and Play brings together the best startups and the biggest corporations around the world through a series of industry-specific accelerator programs. The Plug and Play IoT program is one of the oldest and most successful programs.

"We are very excited that Rheem, one of the largest manufacturers of water heaters and HVAC equipment in the US, is joining our IoT program here in Silicon Valley,” said Sobhan Khani, VP of Plug and Play. “Digitization is affecting all industries - the home and the office are no different. By combining the power of Plug and Play’s innovation platforms with Rheem’s leadership in the HVAC industry, we aim to bring in new technologies for homeowners and corporations."

“We are equally excited to partner with Plug and Play to further our global innovation strategy.  We have a tremendous opportunity to lead the industries that we serve with the most innovative air and water solutions,” said Chris Peel, president and chief executive officer of Rheem.  “This partnership will allow us to accelerate our investments in industry-leading technologies that provide true benefits to our customers.”

As an ecosystem partner, Rheem will work with Plug and Play startups to enrich the organization’s mission to deliver a greater degree of comfort for customers through customizable solutions, smart home technology and an unwavering commitment to sustainability across its products, processes and people.

“At Rheem, we are committed to being an innovation leader in our industry,” said Chee Wee Gan, Vice President Global Strategy of Rheem.  “By partnering with creative start-ups and thought leaders in technology and HVAC, we will identify key trends as they emerge and accelerate our pace of innovation to deliver the best solutions and experiences for our customers globally.” 

About Plug and Play 

Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 20 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 10,000 startups and 280 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, and PayPal. For more information, visit www.plugandplaytechcenter.com

About Rheem

Founded in 1925, Rheem® innovates all-new ways to deliver just the right temperature while saving energy, water and supporting a more sustainable future. Today, Rheem is America’s #1 water heating brand, and its products are available in more than 50 countries. Paloma Co., Ltd. ® of Nagoya, Japan, acquired the iconic Rheem brand in 1988, and today the company’s portfolio of premium brands include Rheem®, Raypak®, Ruud®, Eemax®, Richmond®, Splendid®, Solahart® and EverHot™ as well as commercial refrigeration brands Russell®, Witt®, ColdZone® and Kramer®, which are part of the Heat Transfer Products Group (HTPG®) division.