Aira has raised a total of €150 million (£130m) from investors to roll out heat pumps across Europe and accelerate its mission to decarbonise residential heating.
The financing will be invested in the company’s Swedish research and development centre to develop its integrated product portfolio as well as deepen its existing markets.
With 130 million boilers still in use across Europe, residential heating is the third largest emitter of CO2 across the continent, contributing to 10% of Europe’s total emissions.
Aira claims householders can reduce their heating costs by up to 40% and emissions by up to 100% with clean energy tariffs by switching from a gas boiler to its air source heat pump.
Since launching in June 2023, the company has expanded into Germany, Italy and the UK, with an annual sales run-rate of €200 million (£173m) and employs 1,200 skilled people.
The investment has been secured from existing investors Altor, Kallskär, Kinnevik, Lingotto and Temasek.
Peter Prem, Aira Group CEO said: “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.”
Clean energy tech firm Aira turns up heat as it raises €150m appeared first on Energy Live News.