Aira receives 150 million euros in equity

Clean energy tech Aira from Stockholm has received equity financing of 150 million euros. The aim is to further accelerate the electrification of the heat supply in European households.

Investors focus on further growth

The funds come from existing investors: Altor, Kallskär1, Kinnevik, Lingotto and Temasek. According to Aira, the financing demonstrates the long-term trust of these partners. The company intends to use the funds to further expand its business and develop new products.

We are just at the beginning. Supported by renowned investors, we are building a leading clean energy tech company.

Peter Prem, CEO Aira

CEO Peter Prem explained that Aira is in the process of transitioning from a start-up to a scale-up. The investment will make it possible to improve operational processes, drive innovation and grow faster. The aim is to bring clean energy tech to millions of European households.

Rapid expansion since 2023

Aira was founded in June 2023 and has since been active in Germany, Italy and the UK. The company now employs 1,200 people. It operates 18 regional hubs and four Aira Academies. These train specialists in the installation and maintenance of heat pumps.

The annual sales volume is currently forecast at 200 million euros. Aira offers its customers financing models, an all-round carefree service and a 15-year guarantee on the products. Last year, we ourselves raised over over 63 million euros and 200 million euros.

Investments in production and development

Part of the new capital will be invested in the research and development center in Sweden. Aira intends to expand its integrated product portfolio there. Production capacity will also be increased at the plant in Wrocław, Poland.

The company is also planning to expand its market presence in existing countries and enter into new strategic partnerships in the energy and residential sectors. The aim is to achieve a stronger market position and additional cost benefits for customers.

Heat pumps as the key to CO₂ reduction

Around 130 million gas heating systems are currently still in use in European households. The private heating supply is responsible for around ten percent of total CO₂ emissions. According to Aira, households can reduce their heating costs by up to 40 percent by switching to an air-to-water heat pump. When using green electricity, emissions can be reduced by up to 100 percent.

The European heat pump market is expected to reach a volume of over 150 billion euros by 2030. With its vertically integrated business model, Aira believes it is well positioned to benefit from this growth.