Beijer Ref takes stake in CO2 refrigeration manufacturer

SWEDEN: Beijer Ref has expanded its OEM interests with the acquisition of a minority stake in Fenagy A/S, a new Danish CO2 refrigeration technology company.

Headed by Kim Christensen the founder and former CEO of pioneering Danish CO2 refrigeration company Advansor, Fenagy A/S is developing heat pumps and refrigeration systems with CO2 as refrigerant for district heating and industrial applications. It has ten employees, many of whom previously worked for Advansor, and is headquartered in Aarhus, Denmark. 

Initially a minority owner in the company, Beijer Ref has the option to become a majority owner within four years.

Fenagy is in the process of launching a range of heat pumps and cooling systems with capacities from 200kW-1800kW. Sales will initially be targeted at the Scandinavian market, with England, France, the Benelux, Germany, the Baltic states and Poland to follow.

Announcing the investment, Beijer Ref CEO Per Bertland said: “We immediately see that we can have significant synergy effects with our existing organiszation and operations. The Nordic market is at the forefront of the transition to environmental technology that is adapted to the EU’s phase-out programme of F-gases. The fact that we can expand our offer to the market is fully in line with our strategy.”

Beijer Ref’s main OEM production is based on its Italian subsidiary SCM Frigo, which is currently completing construction of a new €10m CO2 refrigeration plant in Padua. Beijer Ref also has OEM facilities in Sweden, France, the Netherlands, Thailand, South Africa, China and Australia.