Aira secures €200m to finance German installs
4th June 2024
SWEDEN: Aira, the Swedish direct-to-consumer heat pump company, has secured a €200m warehouse financing facility with BNP Paribas to help finance heat pump installations in Germany.
Aira recognises that transforming residential heating will require substantial financial investments, not just to develop and install the technology, but also to make it accessible and affordable for everyone. There is a demand for affordable home energy solutions but challenges, such as low gas prices, burdensome regulations and high upfront costs persist.
The €200m facility provided by BNP Paribas marks the beginning of Aira’s ambition to bridge this financial gap by supercharging Aira’s zero upfront, consumer financing model.
Commenting on the new financing, Aira Group CEO Martin Lewerth said: “This is a significant milestone for Aira as we endeavour to make heat pump technology accessible to every home through affordable monthly payment solutions.
“With substantial debt financing facilities from partners like BNP Paribas, we are set to remove one huge barrier to heat pump adoption and turbocharge our rollout across Europe.”
Aira Group CFO Ane Launy added: “The facility is a crucial milestone in our fundraising journey and the funds will play a pivotal role in addressing the high upfront costs that customers are currently facing.”
Aira launched in Germany in September last year, initially operating in Berlin and Brandenburg. The company has set itself the task of installing heat pumps in five million households across Europe over the next 10 years – one million of which are in Germany.
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