Modine (NYSE: MOD), a global leader in thermal management technology and solutions, today announced that it has entered into a significant long-term capacity agreement (LTA) with one of its strategic data center customers for its Airedale by Modine cooling solutions.
The agreement solidifies the company’s position as a premier provider of advanced cooling technologies for the rapidly expanding data center market and underscores the strength of its customer partnerships.
Under the terms of the LTA, Modine will guarantee capacity to supply more than $4 billion of its cutting-edge Airedale data center cooling products for sale to the customer during calendar years 2027 through 2029.
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In connection with the LTA and capacity commitment, Modine received an upfront cash payment of $165 million from the customer to support capacity investments and other expenditures needed to meet its commitments.
