Aira has secured new capital from existing investors Altor, Kallskär¹, Kinnevik, Lingotto and Temasek.
Since its launch in June 2023, the company has quickly established itself as a leading clean energy technology player in Europe, with operations in Germany, Italy and the United Kingdom. Aira now has an annual revenue run rate of 200 million euros, 1,200 employees, 18 local hubs and four Aira Academies to train qualified heat pump installers. The offering includes a monthly payment plan, a full-service package and a 15-year Aira guarantee.
CEO Peter Prem says the investment shows the investors' long-term support and makes it possible to go from start-up to scale-up, accelerate growth and continue the mission of taking Europe off gas. The capital will be used, among other things, to strengthen the research and development centre in Sweden, increase production capacity at the factory in Wroclaw, Poland, and deepen partnerships in the home and energy sectors.
With 130 million gas boilers in operation, residential heating accounts for around 10% of Europe's carbon dioxide emissions. Switching from a gas boiler to an Aira air-source heat pump can lower heating costs by up to 40% and cut carbon dioxide emissions by up to 100% with green electricity.
Peter Prem points out that the European heat pump market is expected to exceed 150 billion euros by 2030 and that Aira, with its vertically integrated model and strong product portfolio, is well positioned to drive the energy transition in European homes.