Aira, a Stockholm-based clean energy technology company, has raised €150 million in equity financing from existing investors Altor Equity Partners, Kallskär, Kinnevik, Lingotto, and Temasek. Founded in 2023, the company develops and installs air-source heat pumps aimed at replacing gas boilers in residential properties. It currently operates in Germany, Italy, and the UK, employing around 1,200 people. The new funding will support research and development in Sweden, expand production capacity at its factory in Wroclaw, Poland, and strengthen operations in existing markets. The company plans to scale up its offering in response to the environmental impact of residential heating, which accounts for about 10% of Europe’s total CO₂ emissions.
Aira focuses on residential heating solutions. Founded in 2023, it designs, manufactures, and installs air-source heat pumps intended to replace gas boilers in homes. Since its launch in June 2023, the company has expanded into Germany, Italy, and the UK, reaching an annual sales run-rate of €200 million. Aira operates production facilities in Poland and a research and development centre in Sweden, and has opened 18 hubs and four Aira Academies to train heat pump installers. Its vertically integrated model covers product development, manufacturing, installation, and after-sales service, with offerings such as a monthly payment plan, end-to-end service, and a 15-year guarantee. Aira currently employs around 1,200 people and aims to reduce the carbon footprint and energy costs associated with home heating.
“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 Peter Prem, Aira Group CEO.
The equity will drive the accelerated scale-up of Aira’s operations and the expansion of its intelligent clean energy-tech offering. Aira 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 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.
With 130 million boilers still in use across Europe, residential heating is the third largest emitter of C02 across the continent, contributing to 10% of Europe’s total emissions. By switching from a gas boiler to an air source heat pump with Aira’s innovative and accessible, clean energy-tech solution, people can reduce their household heating costs by up to 40% and CO2 emissions by up to 100% with clean energy tariffs.
“The European heat pump market is expected to reach more than €150B by 2030 and with our vertically integrated model and world class products, Aira is uniquely positioned to transform home energy across Europe. Backed by world-class investors, we’re building a clean energy-tech leader with expert teams and a clear mission to decarbonise residential heating, all while lowering energy bills and increasing household comfort for millions. We’re just getting started. Aira is ready to lead the clean energy transition – one home at a time,” Peter Prem continues.
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Read the orginal article: https://arcticstartup.com/aira-raises-e150m/
