Aira announces further €150m investment

SWEDEN: Swedish heat pump company Aira has announced a further €150m of equity financing expand its European to operations and launch new innovations.

Aira says it will invest in its Swedish R&D centre to develop its integrated product portfolio, while increasing production capacity at its factory in Wroclaw, Poland. At the same time, Aira says it will deepen its presence in existing markets and strengthen strategic partnerships with key players in the home and energy sectors “to boost market presence and deliver greater cost savings for customers”.

This latest investment, which is estimated to have brought total investment to over €400m, has been secured from existing investors, Altor, Kallskär, Kinnevik, Lingotto and Temasek.

Since launching in June 2023, Aira has expanded into Germany, Italy, and the UK, and now claims annual sales of €200m. The company now employs 1,200 people and has opened 18 hubs and four Aira installer training centres across Europe.

Aira’s direct-to-customer offering includes a monthly payment plan, end-to-end service and a 15-year guarantee. 

“This investment reflects the strong, long-term support of our investors and enables us to build on the substantial foundation we’ve established as we transition from a start-up to scale-up. It empowers us to double down on our mission to take Europe off gas by expanding with operational excellence, launching new innovations, and accelerating our growth to bring clean energy-tech to millions of homes,” said Aira Group CEO Peter Prem.