A Scorching Play On Cool Air

A tiny company in the $26 billion worldwide air-conditioning business, ICC Technologies may have a future that's, well, quite hot. Already, a $2.4 billion Big Board-listed chemical corporation, Engelhard, has formed a 50-50 joint venture with ICC to develop and market ICC's new alternative air-conditioning system that uses no compressors or ozone-depleting refrigerants, such as chlorofluorocarbons (CFCs). Because of their harmful effects on the environment, CFCs will be banned by 1995 through an international accord. Therefore, ICC's proprietary desiccant-cooling technology--extracting moisture from incoming warm air--could be a big seller.

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