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Energy Save signs license agreement with Aira

SWEDEN: Heat pump start-up Aira has signed a license agreement with Swedish manufacturer ES Energy Save Holding said to be worth up to SEK400m (€34m). 

In June 2023, Energy Save entered into a technology agreement to Aira, a company offering heat pumps on a monthly subscription. That initial partnership covering technology development and delivery of equipment was valued at approximately SEK20m (€1.7m).

Energy Save has now announced that a license agreement with Aira has been signed with an initial term of four years from Aira’s production start and that the value of the agreement is estimated at SEK200m-SEK400m (€17m-€34m) during the initial two years. The agreement is made on market terms that entail customary margins and includes license income as well as income from product and component deliveries.

Revenues from the agreement are expected to start being generated during Energy Save’s third quarter covering the period November 2023 to January 2024. 

Energy Save was founded in 2009 and claims to have delivered over 20,000 domestic heat pumps since then. It has also have delivered over 200 commercial heat pumps. These include air-to-water monoblocs, splits and hybrids offering cooling and heating. 

Related stories:

Manufacturer signs technology deal with heat pump start-up Aira25 June 2023
SWEDEN: Swedish heat pump company ES Energy Save Holding AB claims to have signed a technology agreement with Aira, the Swedish start-up offering heat pumps on a monthly subscription. Read more…

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