Qingdao Haier Announced As Winner Of KKR's First Green Solutions Platform Eco-Innovation Award

KKR, a leading global investment firm, today announced the winner of KKR's first Eco-Innovation Award. Qingdao Haier Co., Ltd. ("Qingdao Haier"), the white goods home appliance subsidiary of Haier Group, was chosen for its development of energy-efficient air conditioners that reduce energy consumption using innovative technologies.

The Eco-Innovation Award recognizes a current project or initiative by one of KKR's portfolio companies that is an innovative, environmentally beneficial solution creating business value. The award is part of KKR's Green Solutions Platform (GSP), a global effort to identify, support, and highlight environmental initiatives at KKR portfolio companies.

Qingdao Haier's winning Haier Intelligent Air Conditioning project includes a series of energy-efficient inverter room air conditioners with six industry-leading technologies, utilizing smart technology sensors to detect body movement and temperature, and thereby adjusting the air conditioner output capacity accordingly. The company will receive a financial prize to enhance its broader environmental initiatives, as well as relevant and customized project enhancement support from KKR and KKR Capstone.

"We are honored to be selected as the first-ever winner of the Eco-Innovation Award," said Liang Haishan, Chairman of Qingdao Haier. "The new technologies used in these energy-efficient air conditioner units sold since 2015 have the potential to significantly reduce energy consumption and improve air cleanliness. With KKR and KKR Capstone's support, we look forward to advancing our eco-innovation efforts to have an even greater impact on our world."

Ming Lu, Head of Asia Private Equity and Member of KKR added, "We are proud to be a partner to Qingdao Haier for its ongoing focus on product innovation, which is poised to help solve rising energy challenges not only in China but also across the globe."

"Our primary goal with launching the Eco-Innovation Award is to encourage innovation, environmental awareness, and employee engagement at KKR portfolio companies," said Elizabeth Seeger, Director at KKR and a leader of the GSP program. "We were thrilled to see many worthy projects that are actively driving important benefits at their companies. After much consideration, we are proud to recognize and congratulate Qingdao Haier as the inaugural winner of our Eco-Innovation Award for its significant eco-innovation efforts."

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