AoFrio marks 40 years as it expands from motors to connected coolers

AoFrio Limited is celebrating its 40th anniversary in 2026, highlighting a shift from motor manufacturing to IoT, software and data tools for commercial refrigeration. The New Zealand company now connects more than 3.7 million coolers and says it is using that platform to move into adjacent markets.

Why it matters: - AoFrio’s 40-year run shows how a hardware business can evolve into a connected technology platform. - The company’s scale in refrigerated equipment gives it leverage with global beverage brands and room to expand into food retail. - More than 3.7 million connected coolers are now part of AoFrio’s network, making the company a meaningful player in commercial refrigeration data.

What happened: - AoFrio Limited (NZX: AOF) marked its 40th anniversary on November 5, 2026, in Auckland, New Zealand. - The company grew from a small motor manufacturer into a business focused on IoT, software and insights for coolers. - Global beverage brands including Coca-Cola, Pepsi and Heineken use AoFrio’s technology to manage cooler fleets.

The details: - AoFrio was founded in 1986 as Clark Automotive Development by New Zealand engineer Peter Clark. - Clark patented a motor design that was more energy efficient than shaded pole technology used for almost a century. - By 2010, the company was known as Wellington Drive Technologies and was a global leader in energy-efficient motor manufacturing. - AoFrio’s ECR range of energy-efficient refrigeration motors became widely adopted in food and beverage retail. - The ECR business also helped AoFrio build a foothold in Latin America. - In 2016, the company expanded beyond motors with SCS Connect, a smart and connected fleet-management solution for cold drink equipment. - IoT is now AoFrio’s largest business segment. - AoFrio says it holds more than 70% of the Latin American connected cooler market. - In 2022, the company changed its name to AoFrio, drawing on the Māori word for world and the Spanish word for cold. - The rebrand reflected a broader move into software, data and insights. - AoFrio has since launched its AoFrio iQ platform. - The company has also added cellular and AI-enabled technology. - AoFrio is expanding from cooler components into performance insights for customers. - The company is also moving into adjacent markets such as food retail applications. - CEO Greg Balla said the company’s domain expertise and culture of constant change position AoFrio for its next chapter. - Balla said his ambition is to continue building AoFrio into a great technology company. - Peter Barnes joined the company in 2003 as an electronics engineer and has since served in several roles, including Chief Engineer and Global Quality Manager. - Barnes now serves as Product Director for Motors. - Barnes said the company’s early motors brought new technology to a largely unchanged industry and that innovation remains central to newer parts of the business. - More information on AoFrio’s history is available at the company’s anniversary page. - AoFrio’s LinkedIn page is available at the company’s social page.

Between the lines: - AoFrio is signaling that its future growth may come less from components alone and more from software, data and fleet intelligence. - The company’s Latin America foothold appears to be a core advantage as it pushes into nearby markets and new applications. - The anniversary messaging frames AoFrio’s transformation as both a heritage story and a growth strategy.

What’s next: - AoFrio plans to keep expanding from its base in connected coolers into adjacent markets. - The company is positioning cellular and AI-enabled tools, along with AoFrio iQ, as part of its next phase. - Continued growth will likely depend on converting its hardware footprint into deeper software and insights revenue.

The bottom line: - AoFrio is celebrating 40 years, but the bigger story is its shift from making motors to running a global connected refrigeration platform.