What Ice-Air does

Ice Air, LLC is a privately held U.S. manufacturer of packaged through-wall and vertical HVAC equipment headquartered in Mount Vernon, NY, founded circa 2001-2004 and serving the North American multifamily, hospitality, education, senior living, and commercial building markets for over 20 years. Its product portfolio centers on Packaged Terminal Heat Pumps (PTHPs), Packaged Terminal Air Conditioners (PTACs), Water Source Heat Pumps (WSHPs), Fan Coil Units, Heat Pump Water Heaters, and related accessories, with proprietary cold climate technology — including enhanced vapor injection (EVI) compressors and VRF-like variable speed modulation — enabling efficient heating at -5°F and below. Differentiated offerings include the patented Dual-Power Source Control System for fair energy cost allocation in multi-tenant buildings, Made2Measure custom sizing, PHI-certified Enhanced Air Barriers, Sound Shield acoustics, and an Xstream Air outside air module. The firm sells primarily through a network of regional sales representatives targeting developers, contractors, architects, and property owners, with quote-based project pricing supported by a CPQ system, AIA/ASPE-accredited CEU courses, and digital tools including an LL97 compliance AI bot and an energy modeling utility.

Ice Air generates revenue predominantly from hardware sales of HVAC equipment for new construction, replacement, and retrofit projects, supplemented by parts and service for its installed base. Following a $35 million grant from the U.S. Department of Energy's Office of Manufacturing and Energy Supply Chain (MESC) in 2023, the company is building a 100,000 sq ft manufacturing facility in Spartanburg, SC (Q1 2026 completion) to relocate production from China to the United States, targeting annual capacity of 10,000 cold climate air-to-air, 5,000 geothermal water-to-air, and 100 high-capacity air-to-water heat pumps. The firm is certified/listed by AHRI, ETL/Intertek, NEEP, the California Energy Commission, USGBC, and NYC Accelerator, and holds Build America, Buy America compliance, positioning it to serve federal and decarbonization-mandated demand drivers including NYC Local Law 97.

Name

Ice-Air

Legal name

Ice Air, LLC

Website

https://ice-air.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Ice Air is a U.S. manufacturer of cold climate packaged terminal heat pumps, PTACs, water source heat pumps, and heat pump water heaters, serving multifamily, hospitality, and commercial developers across North America. The company is expanding from import-based distribution into domestic Spartanburg, SC manufacturing, supported by a $35M DOE grant.

Ownership category

akta.pro rank

Product category

HVAC Equipment Manufacturing

NAICS

Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414), Power Boiler and Heat Exchanger Manufacturing (33241)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Refrigeration & Service Industry Machinery (3580), Heating Equipment, Except Electric & Warm Air Furnaces (3433)

akta.pro primary industry

HVAC Equipment (Heating, Cooling & Air Handling) (IMAHAKAB)

akta.pro secondary industries

Heat Exchangers & Thermal Transfer Equipment (IMAHAKAC), Heat Exchangers, Coils & Hydronic HVAC Components (IMADANAF), Chillers & Cooling Plant Equipment (IMAHAKAE)

Keywords

• Packaged terminal heat pumps
• Cold climate heat pumps
• Water source heat pumps
• HVAC equipment manufacturing
• Building electrification HVAC

Headquarters

HQ city

Mount Vernon

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. HVAC Equipment Sales: Ice Air generates revenue primarily through the sale of HVAC equipment including Packaged Terminal Heat Pumps, PTACs, Water Source Heat Pumps, Fan Coil Units, and heat pump water heaters. Products are sold through direct sales channels and a network of regional sales representatives for new construction, replacement, and retrofit projects.
2. Parts and Service: Ice Air provides parts and service support for their installed equipment base, offering technical support, replacement parts, and service assistance.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Ice Air is a North American manufacturer of innovative packaged through-wall and vertical HVAC equipment for new construction, replacement, and retrofit projects. Its core product portfolio comprises Packaged Terminal Heat Pumps (PTHPs), Packaged Terminal Air Conditioners (PTACs), Water Source Heat Pumps (WSHPs) including geothermal variants, Vertical Stack Heat Pumps, Fan Coil Units, Single Packaged Air Conditioners (SPXC), Hybrid Water-Cooled Air Conditioners, and Heat Pump Water Heaters, with proprietary cold-climate VRF and EVI compressor technology enabling efficient heating at -5°F and below.

Product overview

Ice Air is a manufacturer of innovative HVAC solutions serving the North American market, offering a comprehensive portfolio of heating and cooling equipment. The product lineup includes: iCool XC (all-climate wall mounted heat pumps), PTHP/PTAC (packaged terminal heat pumps and air conditioners including RSXC cold climate models, RSNU-HP, and various replacement series like RSK, RSAN, RSZ, RSMK, RSF, RSEA, RS16, RSCC, RSCM), WSHP (water source heat pumps in vertical stack, vertical closet, horizontal, and console configurations including VSHPGE geothermal models and VS816 replacement chassis), FCU (fan coil units), SPXC (single packaged air conditioners), SPAC (single package vertical AC/heat pumps), Hybrid WCAC (hybrid water cooled air conditioners), HPWH/HPWH-SC (heat pump water heaters), and Habitat Thermostats. The company also provides digital tools including an Energy Modeler and LL97 AI Bot for compliance. Products are designed for new construction, replacement, and retrofit projects with a focus on all-electric, cold climate, and decarbonization solutions.

Differentiator

Problem solved

Functional benefit

Products and services

• iCool XC All-Climate Wall Mounted Heat Pumps All-electric, all-climate wall-mounted heat pumps delivering zero-emission heating and cooling with proprietary cold-climate technology operating down to -5°F and below, targeted at new construction and replacement projects.
• PTHP (Packaged Terminal Heat Pumps) Packaged terminal heat pumps using innovative cold-climate technology with VRF and EVI compressor capability to deliver heat at low outdoor temperatures for multifamily, hospitality, institutional, and commercial buildings.
• PTAC (Packaged Terminal Air Conditioners) Through-wall packaged terminal air conditioners offered in the widest variety for both new construction and replacement applications across Ice Air's RSK, RSNU, RSAN, RSZ, RSMK, RSF, RSEA, RS16, RSCC, and RSCM replacement series.
• WSHP (Water Source Heat Pumps) Water source heat pumps in vertical stack, vertical closet, horizontal, and console configurations combining efficient heating and cooling for room-by-room comfort. Includes the VSHPGE vertical stack geothermal and the VS816 ExactFit replacement chassis lines.
• FCU (Fan Coil Units) Whisper-quiet, energy-efficient fan coil units delivering superior performance for commercial and residential applications.
• SPXC (Single Packaged Air Conditioners) Concealed ducted single packaged air conditioners that service like a PTAC, providing efficient cooling and heating where through-wall openings are not desired.
• HPWH / HPWH-SC Heat Pump Water Heaters and Chiller Heaters Domestic heat pump water heaters that capture free energy from the environment and convert it into hot water. The HPWH-SC variant is a heat pump water chiller/heater that combines water heating and chilling capability.
• Hybrid WCAC (Hybrid Water-Cooled Air Conditioners) Hybrid water-cooled air conditioners providing high-efficiency cooling combined with an advanced hot water coil that supplies hydronic heat for an entire room without engaging the compressor.
• VSXC Vertical Stack Heat Pumps Vertical stack heat pumps concealed in closets or behind walls that serve multiple spaces via concealed ductwork, with variable speed technology for efficient heating and cooling.
• RSXC Cold Climate Packaged Terminal Heat Pumps Cold-climate RSXC series packaged terminal heat pumps (models RSXC09, RSXC13, RSXC18) using advanced VRF technology with enhanced vapor injection (EVI) compressors to provide efficient heating down to -5°F and below in new construction and replacement projects.
• RSK High-Efficiency Replacement PTAC Ultra-high-efficiency RSK series replacement PTAC designed to replace legacy Ice-Cap RSK, Islandaire RK, and Retroaire RC/RH22 PTAC units with advanced LEED-oriented features.
• RSK Series Spartanburg Production PTAC and Heat Pumps Packaged terminal air conditioners and heat pumps in the RSK series with EERs up to 9.5, an advanced tangential indoor blower, and programmable digital touchpad controls, currently produced at Ice Air's Spartanburg, South Carolina manufacturing facility.
• VSHPGE Vertical Stack Geothermal WSHP Vertical stack geothermal water source heat pump with cooling efficiencies up to 21 EER, offered in models VSHPGE06-VRF through VSHPGE24-VRF for high-efficiency room-by-room comfort in multifamily applications.
• RSNU-HP High-Performance Packaged Terminal Heat Pump High-performance new-construction packaged terminal heat pump with electric heat, designed for durability, quiet operation, high energy efficiency, and use of R-32 Green refrigerant.
• WSHP Replacement Chassis VS816 Series Vertical stack water source heat pump replacement chassis (models 8VS81609 through 8VS81636) engineered as ExactFit replacements for legacy Climatemaster 816 units.
• RSAN Series Replacement PTAC Replacement PTAC units for new construction and replacement applications, designed to replace legacy McQuay PDNS/PDAN/PGAN/NH, Singer N/NH, and Islandaire N/NH/NE models.
• HHPW Horizontal Water Source Heat Pumps Horizontal water source heat pumps with a low-profile ceiling design, concealed appearance with access panel control box, and high-efficiency fan motors for low operating costs.
• VCHPW Vertical Closet Water Source Heat Pumps Vertical closet water source heat pumps designed to operate within equipment closets with a clean-room appearance, delivering high EERs, efficient motors, and low-speed fan operation.
• SPAC (Single Package Vertical AC/Heat Pump) Single package vertical air conditioner / heat pump installed within an interior wall space, providing ultra-quiet operation, high energy efficiency, and zoned cooling and heating for individual rooms; a high-velocity variant is also available.
• Habitat Wireless Smart Thermostats Smart wireless thermostats designed for ease of use and efficiency, offered by Ice Air for room-level HVAC control, with RSXC units shipping standard with the Habitat Wireless Thermostat.
• Patented Dual-Power Source Control System for PTUs (U.S. Patent No. 12,207,360B1) Patented relay-controlled dual-power source control system for PTACs and PTHPs that dynamically switches between a central facility power source in heating mode and an individual unit power source in cooling mode, enabling fair and accurate energy cost allocation in multi-unit residential and commercial buildings.
• Parts and Service Support Post-sale parts, technical support, replacement-parts, and service-assistance offering for the installed base of Ice Air HVAC equipment.

Quantifiable outcome

• Up to 25% more efficient than conventional systems with zero emissions
• +4 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Northeast Energy Efficiency Partnerships (NEEP)coreStrategic or Co-development PartnerIce Air is a member of NEEP and products are listed in the NEEP ASHP Product List. Partnership focuses on market transformation, clean energy adoption, and affordable electrification. Ice Air offers CEU courses to NEEP members through live webinars.
• Urban Green CouncilcoreStrategic or Co-development PartnerIce Air joined Urban Green Council (NYC affiliate of USGBC) to collaborate on decarbonization of buildings and sustainable design policy. Partnership includes offering CEU training on heat pump technology to UGC members.
• L+M Development PartnersminorStrategic or Co-development PartnerListed as partner on Ice Air website, indicating collaborative relationship on development projects.
• ETL (Intertek)coreTechnology or IntegrationProduct certification and testing partner for compliance with industry standards.
• AHRI (Air-Conditioning, Heating, and Refrigeration Institute)coreTechnology or IntegrationProduct certification and efficiency rating verification through AHRI certified directory listings.
• USGBC (U.S. Green Building Council)coreTechnology or IntegrationMembership supports LEED-compliant product specifications and green building initiatives.
• NYC AcceleratorcoreGTM or Marketing PartnerPartnership supporting building decarbonization and electrification initiatives in New York City.
• California Energy CommissioncoreTechnology or IntegrationProducts listed and compliant with California energy efficiency standards.

Scale indicators10 records

Recent moves9 records

Expansion highlights7 records

Broad incumbents

• Lennox International: Major US HVAC manufacturer focused on residential and light commercial heating and cooling equipment, including heat pumps. Comparable as a US-domiciled incumbent that competes in the same decarbonization and electrification market segment.
• Mitsubishi Electric Trane HVAC US: Major manufacturer of VRF and heat pump HVAC systems serving residential and commercial markets in North America. Directly comparable because it competes in cold climate VRF heat pumps (the category Ice Air targets with RSXC) and was also a DOE MESC grant recipient alongside Ice Air.
• Trane Technologies: Global HVAC and refrigeration manufacturer with a strong commercial and applied product line, including cold climate heat pump offerings. Comparable as a deep-pocketed incumbent whose engineering bench (where Mahfuz Imam worked previously) competes for the same specification and decarbonization-driven demand.
• Rheem Manufacturing: Manufacturer of HVAC, water heating, and pool heating equipment, including heat pump water heaters that directly overlap with Ice Air's HPWH product line. Comparable as a US manufacturer competing in residential and commercial HVAC electrification.
• Daikin Comfort: Major global HVAC manufacturer with a strong US presence in ducted and ductless heat pump systems. Comparable as a direct competitor in residential and light commercial cold climate heat pumps, with substantially larger scale.
• Carrier Global: One of the world's largest HVAC manufacturers with a broad residential, commercial, and applied product portfolio including heat pumps and PTAC-class equipment. Comparable as a large incumbent that competes across all of Ice Air's product categories and benefits from similar decarbonization tailwinds.

Direct peers

• Bosch Thermotechnology: Manufacturer of residential and commercial heat pump and hydronic HVAC equipment with strong cold climate performance credentials. Comparable as a heat pump specialist that competes in the same NEEP-listed, Mass Save / utility-incentivized specification channel as Ice Air.
• ClimateMaster: Specialist manufacturer of water source and geothermal heat pumps used in multifamily and commercial buildings. Comparable as a direct competitor in WSHP / vertical stack / geothermal products, the same category where Ice Air's VSHPGE competes (and Ice Air makes ExactFit replacement chassis for some ClimateMaster models).
• Fujitsu General America: Manufacturer of ductless and VRF mini-split heat pump systems serving residential and light commercial markets in North America. Comparable as a direct competitor in cold climate and high-efficiency heat pump categories that compete for similar decarbonization-driven specifications.

Emerging players

• Copeland (formerly Emerson Climate Technologies): Major HVAC compressor and component manufacturer that was also awarded a DOE MESC grant alongside Ice Air. Comparable as a co-recipient of federal domestic-manufacturing funding and a critical component supplier in the same supply chain Ice Air is building out.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/iceair
• Xx.com/IceAirHVAC

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ice-Air