Air Change

What Air Change does

Air Change is an Australian HVAC equipment manufacturer, founded circa 2002-2003, that designs and produces Dedicated Outdoor Air Systems (DOAS), dehumidification units, energy recovery ventilators (ERVs), precise control units, and pool air-handling equipment. The company is listed on the National Stock Exchange of Australia (NSX) under ticker AC1, with Air Change Australia Pty Ltd as the primary operating subsidiary. It operates as part of the Air Change Group, which also encompasses three wholly-owned associated brands: Dunnair (HVAC since 1961), Fan Coil Industries (air handling units since 1983), and Summit Industrial Chillers (industrial cooling for mining). Group headcount exceeds 80 staff across a manufacturing facility in Milperra (NSW), an offshore manufacturing relationship with AFS Manufacturing in Malaysia (Johor), and sales/engineering offices in New South Wales, Queensland, Victoria, Singapore, and New Zealand, supported by distributor partners in South Australia, Western Australia, the Northern Territory, Tasmania, Vietnam, and Malaysia.

The company's technical differentiation rests on internationally patented air-to-air heat exchanger technology, Low Dew Point DX refrigeration dehumidification (capable of sub-5°C and as low as 3°C dew point delivery), and the proprietary ClimaSync Control System, which applies proactive thermostat logic on top of PID control theory to modulate BLDC inverter compressors and maintain precise temperature and humidity setpoints. End markets are highly specialised: indoor pools and aquatic centres (PoolPac, PoolPac Plus with combined air/water heating), mission-critical facilities such as data centres, pharmaceutical plants, museums and hospital operating theatres (Precise Control Unit, ACDHUM), supermarkets seeking humidity-driven refrigeration efficiency gains, and commercial buildings in humid tropical/subtropical climates (Singapore, Vietnam, Malaysia, Northern Australia).

The business model combines one-time hardware sales of bespoke engineered units (priced per quotation, valid 45 days, with optional 2.5% labour warranty add-on) with custom engineering, design, installation, and maintenance services for complex applications. Revenue is generated through direct enterprise field sales to HVAC consulting engineers and installing contractors via regional NSW/QLD/VIC teams, and through a regional channel of named distributors for out-of-home-state and international markets. No pricing, revenue, or financial KPIs are publicly disclosed.

Name

Air Change

Legal name

Air Change Australia Pty Ltd

Website

https://airchange.com.au

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

51–100 employees

Short description

Air Change is an Australian HVAC manufacturer specializing in energy-efficient Dedicated Outdoor Air Systems (DOAS), dehumidification units, and precise temperature/humidity control equipment serving indoor pools, mission-critical facilities, and humid-climate commercial buildings across the Asia-Pacific region.

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), Industrial and Commercial Fan and Blower and Air Purification Equipment Manufacturing (333413), Automatic Environmental Control Manufacturing for Residential, Commercial, and Appliance Use (334512)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Industrial & Commercial Fans & Blowers & Air Purifing Equip (3564)

akta.pro primary industry

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

akta.pro secondary industries

HVAC Controls & Optimization (Smart Thermostats, VAV, Chillers/Boilers Controls) (BPABAGAB), HVAC & Refrigeration Contracting (IMAFALAB), HVAC, Water Heaters & Indoor Air Quality Distribution (CRAOAFAJ)

Keywords

• Dedicated outdoor air systems
• Energy recovery ventilators
• HVAC dehumidification systems
• Indoor pool air handling
• Heat recovery ventilation

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. HVAC Equipment Manufacturing and Sales: Air Change designs, manufactures, and sells a comprehensive range of HVAC products including Dedicated Outdoor Air Systems (DOAS), dehumidifiers, energy recovery ventilators, make-up air units, precise control units, rooftop packaged units, and pool air handling units. Revenue is generated through direct equipment sales to HVAC contractors, design engineers, and building owners. The company is listed on the National Stock Exchange of Australia (NSX) under Code AC1.
2. Custom Engineering Solutions: Air Change provides customisable and tailored HVAC solutions with teams of engineers and designers who can tailor units to specific project requirements. The company offers turn-key solutions encompassing design, manufacture, installation, and maintenance services for complex applications such as indoor pool climate control systems.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels7 records

Core offering

Air Change designs, manufactures, and sells a comprehensive range of Dedicated Outdoor Air Systems (DOAS) and dehumidification HVAC equipment, including Energy Recovery Ventilators, dehumidification units, precise control units, make-up air units, rooftop packaged units, and indoor pool air handling units. The company also provides custom engineering and turn-key design, manufacture, installation, and maintenance solutions for complex applications such as indoor pool climate control. Products are sold to HVAC design engineers, installing contractors, and building owners through direct sales offices and authorised distributors across Australia, New Zealand, Singapore, Vietnam, and Malaysia.

Product overview

Air Change is an Australian HVAC manufacturer offering Dedicated Outdoor Air Systems (DOAS) and dehumidification solutions. The product portfolio consists of two main categories: DOAS & Dehumidification products (Energy Recovery Ventilators such as ERV, ERV-IC, and ERV-WM; dehumidification units including ACDHUM, Precise Control Unit, Split Make-Up Air, Packaged Make-Up Air Units; pool solutions such as PoolPac and PoolPac Plus; and Rooftop Packaged Units) and Standard HVAC products (Air Cooled and Water Cooled Packaged and Split Ducted Units). The company also offers the proprietary ClimaSync Control System as an add-on for integrated control management. The Air Change Group also includes associated brands Dunnair, Fan Coil Industries, and Summit Industrial Chillers. All products emphasize energy efficiency through air-to-air heat recovery technology and advanced refrigeration systems.

Differentiator

Problem solved

Functional benefit

Brands

• Air Change DOAS & Dehumidification: Core product line covering Dedicated Outdoor Air Systems and dehumidification solutions including ERV, ACDHUM, PCU, PoolPac, and Make-Up Air Units.

Products and services

• Energy Recovery Ventilator (ERV) Plantroom or rooftop mounted ERV that supplies fresh outside air to indoor spaces using integrated air-to-air heat exchangers that transfer heat or energy between incoming fresh air and exhausted stale air, minimising the energy penalty of ventilation. Designed for HVAC design engineers and building owners.
• In-Ceiling Energy Recovery Ventilator (ERV-IC) Compact ceiling-mounted unit with integrated air-to-air heat exchangers using internationally patented heat recovery technology for residential apartments, toilet exhaust systems, aged care facilities, hotels, and classrooms.
• Rooftop Packaged Unit (with Heat or Energy Recovery) Reverse cycle rooftop unit combining DX systems with air-to-air heat or energy recovery technology for buildings requiring significant fresh outside air, such as assembly halls, lecture theatres, gyms, and restaurants.
• PoolPac Indoor pool air handling unit providing fresh air ventilation to manage humidity and airborne chloramine levels while providing indoor climate control using air-to-air heat recovery and reverse cycle DX heat pump. Designed for hotel pools, aquatic centres, and hydrotherapy pools.
• PoolPac Plus Single packaged unit combining pool water heating and indoor pool air handling using DX heat pump technology with integrated air-to-air heat recovery, reducing pool water heating energy to less than half that of traditional water heat pumps. For indoor pool facilities including aquatic centres, hotel pools, and high-rise residential pools.
• ACDHUM Dehumidification Unit Dehumidification unit using air-to-air heat exchanger precooling and reheat with DX or CHW cooling for efficient dehumidification of 100% outside air in tropical climates and humid building environments. For supermarkets, shopping centres, factories, community halls, airports, and hospitals.
• Precise Control Unit (PCU) Mission-critical temperature and humidity control unit using cool and reheat principle through variable DX refrigeration for pharmaceutical facilities, museums, data centres, hospitals, and manufacturing facilities.
• Split Make-Up Air (SMA) Split ducted system delivering 100% outside air at dehumidified and comfortable room temperature with BLDC inverter compressors and EC fans for hotel lobbies, scientific labs, and hospital wards.
• Wall Mounted Energy Recovery Ventilator (ERV-WM) Ductless energy recovery ventilator designed for wall mounting on external walls with 3-speed fans and nominal airflow of 280 l/s, suitable for classrooms and site offices.
• Rooftop Packaged Unit (RTU) Big Box air conditioner providing temperature control for large indoor spaces up to 230 kW cooling capacity, suitable for warehouses, distribution centres, shopping centres, and supermarkets.
• Packaged Make-Up Air Units (PMA) Packaged system delivering 100% outside air at dehumidified room neutral temperature using BLDC inverter compressors and waste condenser heat reheat for small make-up air applications such as service stations, mining camps, and school classrooms.
• Air Cooled Packaged Unit Standard HVAC product providing effective indoor climate control, high indoor air quality, and optimal energy efficiency for commercial applications.
• Air Cooled Split Ducted Unit Split ducted air cooled HVAC unit for indoor climate control applications.
• Water Cooled Packaged Unit Water cooled packaged HVAC unit for indoor climate control applications.
• Water Cooled Split Ducted Unit Split ducted water cooled HVAC unit for indoor climate control applications.
• ClimaSync Control System Proprietary control system that manages all functions of Air Change units for standalone operation, including temperature, humidity, and airflow regulation with remote monitoring and project-specific tuning capabilities. Designed for HVAC design engineers and installing contractors.
• Custom HVAC Engineering Solutions Customisable and tailored HVAC solutions with teams of engineers and designers who tailor units to specific project requirements. Provides turn-key solutions encompassing design, manufacture, installation, and maintenance services for complex applications such as indoor pool climate control systems. Targeted at HVAC design engineers, building owners, and contractors.

Quantifiable outcome

• 51% annual energy cost reduction achieved at Avanti Apartments indoor pool facility.
• +7 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Energy Supplies & Engineering (S) Pte LtdcoreChannel Partner/ Reseller/ DistributorAuthorised distributor for Singapore. Located at 2 Bukit Batok Street 24, #02-17 SkyTech, Singapore 659480. Handles sales enquiries for the Singapore market.
• Industrial AircoreChannel Partner/ Reseller/ DistributorAuthorised distributor covering South Australia, Northern Territory and Western Australia. Located at 14 Princess St, Beverley SA 5009. Phone: (08) 8354 0088.
• Major AircoreChannel Partner/ Reseller/ DistributorAuthorised distributor covering Tasmania. North Tasmania office at 76 York St, Launceston TAS 7250. South Tasmania office at Unit 2, 10 Lampton Ave, Derwent Park TAS 7009.
• Cooke IndustriescoreChannel Partner/ Reseller/ DistributorAuthorised distributor for New Zealand. Located at 31 Station Rd, Penrose, Auckland 1061, New Zealand. Handles sales distribution in the New Zealand market.
• APC Industry CorporationcoreChannel Partner/ Reseller/ DistributorAuthorised distributor for Vietnam. Located at No 10, 22 Road, Linh Chieu Ward, Thu Duc District, Ho Chi Minh City, Vietnam. Handles sales distribution in the Vietnam market.
• AFS Manufacturing S/BcoreChannel Partner/ Reseller/ DistributorManufacturing partner in Malaysia. Located at No 9, Jalan iPark 1/1, Kawasan Perindustrian i-Park, 81000 Bandar Indahpura, Kulaijaya, Johor, Malaysia. Handles manufacturing operations in Malaysia.
• Fan Coil Industries (Fan Coil)coreStrategic or Co-development PartnerPart of the Air Change Group. An Australian manufacturer that commenced operations in 1983, producing quality air handling units designed for Australian conditions using plug fans and stainless steel trays. Located at fancoil.com.au.
• Summit Industrial ChillerscoreStrategic or Co-development PartnerPart of the Air Change Group. Summit Industrial Chillers design and manufacture integrated industrial cooling systems for the mining sector and other applications. Located at summitindustrial.net.au.
• DunnaircoreStrategic or Co-development PartnerPart of the Air Change Group. A leading supplier of quality and innovative HVAC products since 1961. Located at dunnair.com.au.
• AIRAH (Australian Institute of Refrigeration, Air Conditioning and Heating)minorGTM or Marketing PartnerAir Change sponsors and supports AIRAH events including the inaugural Humidity Issues in Australian Climates Workshop at The Mint in Sydney. General Manager Shane Carmichael is a member of AIRAH (M.AIRAH).

Scale indicators4 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Daikin: Global HVAC leader with strong APAC presence in Singapore, Australia, and Malaysia. Provides competing DOAS, rooftop, and dehumidification solutions at scale, leveraging wider distribution and component supply.
• Mitsubishi Electric: Global HVAC manufacturer with comprehensive commercial air conditioning, DOAS, and ventilation solutions. Significant competitor in Australia and SE Asia with broader product portfolios and larger R&D resources.
• Trane Technologies: Global HVAC and building services major with broad DOAS, dehumidification, and energy recovery offerings. Competes against Air Change in larger commercial projects and supermarkets, with significantly larger scale and global reach.

Direct peers

• Munters: Global leader in dehumidification and air treatment, with a strong product portfolio for mission-critical facilities, supermarkets, and indoor pools. Direct competitor in dehumidification technology, particularly for the Low Dew-Point Dehumidifier and ACDHUM use cases.
• Temperzone: Australia and New Zealand HVAC manufacturer with a comparable product portfolio including commercial air conditioning, DOAS-style units, and dehumidification. Operates across similar geographies and customer segments, making it a key head-to-head competitor for commercial and project-based work.
• Bry-Air: Specialist in desiccant and refrigeration-based dehumidification serving pharmaceuticals, food processing, and commercial buildings. Comparable to Air Change's ACDHUM and Precise Control Unit for tropical and humid-climate dehumidification applications.
• Condair: Humidity control specialist offering humidification and dehumidification solutions across commercial, industrial, and healthcare applications. Comparable in technical positioning around precise humidity management for indoor air quality and HVAC.
• STULZ: Global precision air conditioning and humidity control specialist for data centers, telecommunications, and mission-critical facilities. Directly competes with Air Change's Precise Control Unit and ACDHUM products in the data center segment.
• Seeley International: Australian-founded HVAC manufacturer specializing in climate control and dehumidification solutions for residential and commercial applications. Most directly comparable peer as an Australian-based, innovation-driven HVAC company with strong brand recognition and a similar customer base including designers, contractors, and commercial end users.

Emerging players

• AAON: North American manufacturer of high-efficiency custom HVAC equipment, including DOAS and energy recovery units. Comparable business model focused on custom-engineered, high-performance HVAC for commercial and mission-critical applications.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCBvOt0WueX83r-VW4oirx8A
• LinkedInlinkedin.com/company/air-change

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries3 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 Air Change