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KETTERING, Ohio- (BUSINESS WIRE)- ClimateMaster, Inc., a leading manufacturer of water-source and geothermal heating and cooling systems, today endorsed the GEOSmart Loan program offered through a partnership between GE Money & the Electric & Gas Industries Association (EGIA) at the Energy Efficiency Global Forum in Washington, D.C.

The GEOSmart Loan program, sponsored by EGIA and funded by GE Money’s Sales Finance unit, provides both installment and revolving financing options and is available through EGIA-approved contractors to assist consumers looking to purchase a ClimateMaster geothermal heating, cooling and water heating system for their home. “The level of long-term financing provided through the GEOSmart Loan program is something that has long been needed in the geothermal heat pump (GHP) market,” said Daniel Ellis, president of ClimateMaster. “GEOSmart financing makes these systems more affordable for consumers retrofitting existing homes.”

“GHP technology harnesses energy stored near the surface of the earth to provide heating and cooling,” says John Bailey, senior vice president of sales for ClimateMaster. “This stable underground temperature reservoir is maintained by solar energy and is a clean and renewable resource available in all 50 states. GHPs tap into this reserve to reach 400 to 600 percent energy efficiency, in terms of energy delivered versus energy drawn from the grid to operate the system.” According to the Environmental Protection Agency, geothermal heat pumps are the most energy-efficient, environmentally clean and cost-effective space-conditioning system for most locations in the U.S.

“With buildings accounting for nearly 40 percent of all U.S. energy consumption and heating, cooling and water heating being the largest contributors, GHPs are one of the best ways to reduce your energy bills and your footprint on the environment,” said Ellis. “And they are a proven technology, with hundreds of thousands installed nationwide since their introduction in the late 1970s.”

“ClimateMaster’s line of geothermal heating and cooling systems are an excellent choice for providing and utilizing sustainable, affordable energy,” said Bruce Matulich, executive director of EGIA, a non-profit organization dedicated to advancing energy efficiency and renewable energy solutions. “We are pleased to be able to promote both ClimateMaster’s products and the GEOSmart program to distributors, contractors and our utility partners across the U.S.”

Due to significant consumer energy savings, the positive impact on utility peak load conditions and the substantial environmental benefits, a growing number of utility companies are supportive of GHP technology and are offering rebates and other financial incentives to encourage consumer installation of GHP systems. The GEOSmart loan program is already being integrated into leading utility and state sponsored energy efficiency programs, providing homeowners with a comprehensive financing solution that makes it easy for consumers to invest in energy efficient home improvements.

“At GE, we’ve made a commitment to continue investing in and providing products and services that are eco-friendly,” said Bruce Christensen, vice president and general manager, Home Improvement industry, GE Money – Sales Finance. “We’re proud to partner with EGIA and are excited that ClimateMaster has chosen to endorse the GEOSmart program.”

About ClimateMaster, Inc.

ClimateMaster, Inc. is a leading manufacturer of water-source and geothermal heat pumps, which are widely considered to be the most energy efficient and environmentally friendly method of heating and cooling available on the market today. Headquartered in Oklahoma City, ClimateMaster, Inc. is a wholly owned subsidiary of LSB Industries, Inc. whose common stock is traded over the American Stock Exchange under the symbol LXU. For more information, visit www.climatemaster.com.

About Electric & Gas Industries Association

The Electric & Gas Industries Association (EGIA) is a non-profit organization dedicated to advancing energy efficiency and renewable energy solutions through a nationwide network of contractors, distributors, manufacturers and utility companies. EGIA is a leading provider of resource efficiency services and energy efficiency program administration for utility companies and water agencies. EGIA also provides the home improvement industry with comprehensive consumer energy efficiency and solar financing solutions and has administered some of the nation’s largest utility and state sponsored energy efficiency financing programs. For more information, visit www.egia.org.

About GE Money

With more than $190 billion in assets, GE Money, a unit of General Electric Company (NYSE:GE - News), is a leading provider of credit services to consumers, retailers and auto dealers in more than 55 countries around the world. GE Money, based in Stamford, Conn., offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans, and credit insurance. More information can be found at www.gemoney.com. GE Money’s Sales Finance unit, based in Kettering, Ohio, provides private label credit card programs, marketing, installment lending and financial services for national and regional retailers, dealers, manufacturers and service providers in more than 20 industries including: outdoor power equipment, home improvement, sporting goods, powersports, automotive, recreational vehicles, consumer electronics and appliances, furniture, floor covering, marine, music, jewelry, and health care.

GE is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.

Source: GE Money