The Clinton Health Access Initiative to Partner with the Cadence Giving Foundation on Sustainable Climate Innovation

By: Cadence Design Systems, Inc. via Business Wire

August 02, 2023 at 13:30 PM EDT

Cadence Design Systems, Inc., (Nasdaq: CDNS) and The Clinton Health Access Initiative (CHAI) today announced a multi-year partnership to address the impacts of climate change through the research and design of next-generation air conditioning units with the goal of reshaping the global air conditioning market. The partnership will ensure the proliferation of affordable, clean cooling technology in low- and middle-income countries facing the highest burden of heat-related threats due to climate change.

The global demand for residential air conditioning, like window units, is expected to skyrocket as the world continues to warm due to climate change. Of the 2.8 billion people living in the hottest parts of the world, only eight percent currently possess air conditioners. However, access to cooling is becoming a matter of life or death in many regions, where more and more people are subject to acute heat stress. The number of air conditioners in the hottest parts of the world is expected to reach 5.6 billion by 2050, up from two billion units.

Today’s air conditioners are staggeringly inefficient and contribute to climate change. Most are powered by hydrofluorocarbons (HFCs), which are greenhouse gases thousands of times more potent than carbon dioxide. Next-generation air conditioners that are low-cost, low-emission do exist and have the potential for an emissions impact five times lower than the dominant cooling options on the market.

Cadence will act as a catalyst investor for this initiative, with the Cadence Giving Foundation providing a significant investment toward supporting climate solutions through the development of clean technology. Additionally, the company will provide access to the Cadence® Fidelity™ Computational Fluid Dynamics (CFD) technology, a powerful fluid simulation tool used to aid in the continued research and development of climate solutions. The contributions aim to help mitigate the impacts of climate change by shaping the broader market for low-emission cooling solutions, furthering affordability and proliferation throughout low- and middle-income countries, where demand is the highest.

CHAI will leverage decades of healthcare market-shaping expertise toward this new initiative. Together with partners, CHAI has negotiated over 120 agreements that have reduced the costs and expanded patients’ access to lifesaving medications, diagnostics and other health products in low- and middle-income countries. Similarly, CHAI and Cadence will work in collaboration with a coalition of partners to tackle the market failures that are preventing next-generation cooling devices from reaching the people who need them.

The Cadence Giving Foundation is committed to bringing innovation, technical expertise and philanthropy together to make a lasting, positive impact throughout the world. The foundation helps support critical needs in our global communities in areas such as diversity, equity and inclusion (DEI), climate and sustainability, and access to STEM education. Cadence has funded multiple initiatives since launching the Cadence Giving Foundation, including Pledge 1%, service projects with Team4Tech, GirlsWhoCode, the Extreme Tech Challenge and Habitat for Humanity builds, and an investment in the American Heart Association.

“CHAI’s origin lays in addressing market failures that kept people living with HIV from accessing the treatment they needed,” said Dr. Neil Buddy Shah, CHAI CEO. "We look forward to working with Cadence to use this proven approach to bring more affordable, less polluting ACs to emerging markets to reduce one of the largest drivers of Co2 emissions, save billions in energy costs and protect millions of families from the negative health effects of extreme heat."

“The Cadence Giving Foundation is dedicated to providing Cadence’s innovative technology, talent and resources to promote positive change in climate and sustainability globally,” said Dr. Anirudh Devgan, president and CEO of Cadence. “Through this collaboration with the Clinton Health Access Initiative, we will be jointly working to find solutions to alleviate the global climate crisis and make a positive impact. By turning to cutting-edge technologies, such as the Cadence CFD offerings, we can drive a powerful transformation in at-risk communities and help lower carbon emissions.”

About Cadence

Cadence is a pivotal leader in electronic systems design, building upon more than 30 years of computational software expertise. The company applies its underlying Intelligent System Design strategy to deliver software, hardware and IP that turn design concepts into reality. Cadence customers are the world’s most innovative companies, delivering extraordinary electronic products from chips to boards to complete systems for the most dynamic market applications, including hyperscale computing, 5G communications, automotive, mobile, aerospace, consumer, industrial and healthcare. For nine years in a row, Fortune magazine has named Cadence one of the 100 Best Companies to Work For. Learn more at cadence.com.

About CHAI

The Clinton Health Access Initiative, Inc. (CHAI) is a global health organization committed to saving lives and reducing the burden of disease in low- and middle-income countries, while strengthening the capabilities of governments and the private sector in those countries to create and sustain high-quality health systems that can succeed without our assistance. For more information, please visit: http://www.clintonhealthaccess.org.

© 2023 Cadence Design Systems, Inc. All rights reserved worldwide. Cadence, the Cadence logo and the other Cadence marks found at www.cadence.com/go/trademarks are trademarks or registered trademarks of Cadence Design Systems, Inc. All other trademarks are the property of their respective owners.

Category: Featured

View source version on businesswire.com: https://www.businesswire.com/news/home/20230802367757/en/

Contacts

Cadence Media Relations Contact:

Cadence Newsroom

408-944-7039

newsroom@cadence.com

CHAI Media Relations Contact:

Corina Milic, Acting Director of Communications, CHAI

press@clintonhealthaccess.org

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The Clinton Health Access Initiative to Partner with the Cadence Giving Foundation on Sustainable Climate Innovation

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