Aira, a Swedish Clean Energy Firm raises €86 Million for groundbreaking Green Heating Innovation

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Aira, a Swedish clean energy technology company, has unveiled its successful funding round, securing SEK 1 billion (approximately €86 million) from a consortium of investors. This significant investment is dedicated to supporting Europe’s shift away from gas and accelerating the path toward energy self-reliance.

Aira’s Mission Attracts Investments from Altor, Collaborative Fund, Creades, Kinnevik, Lingotto, and more.

Aira has garnered support from an impressive array of investors, including Altor, Collaborative Fund, Creades, Kinnevik, and Lingotto, who share the company’s mission to drive the green transition and steer Europe away from gas. Martin Lewerth, CEO of Aira Group, expressed his enthusiasm about the new investors, highlighting their track record in scaling impact-driven enterprises.

The fresh capital injection will play a pivotal role in expanding Aira’s fully integrated platform throughout Europe and enhancing the quality of services offered to its customers.

Lewerth added, “This funding represents a significant milestone on our path to providing clean energy-tech solutions to five million European households. With this investment, we are poised to extend our European footprint and expedite product and technology development, positioning us as a leading direct-to-consumer brand.”

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Revolutionizing Home Heating in Europe

Europe’s reliance on approximately 130 million fossil fuel-based boilers for home heating constitutes a substantial contributor to the continent’s carbon dioxide (CO₂) emissions, accounting for 10 percent of the total. The adoption of air-source heat pumps emerges as a promising avenue to curtail both household heating costs and carbon emissions.

Aira is at the forefront of offering an accessible and innovative solution that expedites the electrification of residential heating through intelligent clean energy technology. The company positions itself as the go-to source for European consumers seeking comprehensive home energy-saving solutions, underpinned by intelligent heat pumps.

This technology empowers households to achieve remarkable savings of up to 40 percent on heating expenses while simultaneously curbing CO₂ emissions by more than 75 percent.

Already operational in Italy and Germany, Aira is gearing up to launch its consumer services in the UK later this year. The company’s ambitious expansion plans encompass Italy and Germany, with the objective of generating 10,000 new jobs in the clean energy sector and catering to five million homes within the next decade. A budget-friendly monthly payment scheme is in the works, aiming to provide easier access to energy solutions.

Additionally, Aira is set to diversify its tech portfolio, incorporating elements such as solar energy, dynamic energy tariffs, and smart heat pumps. Ongoing research and technological advancements will simplify the customer experience in terms of energy optimization.

To meet the growing demand, the company will expand its manufacturing capabilities in Poland, underlining its commitment to enhancing the transition to clean home heating across the European landscape.

About the Investors

Georgi Ganev, CEO of Kinnevik, underscores the significance of their clean energy initiative, stating, “At Kinnevik, we remain committed to addressing the paramount challenge of our generation – climate change. Residential heating alone accounts for roughly 10 percent of the CO₂ footprint, and we believe that Europe is embarking on a profound shift towards sustainable energy.”

He goes on to express confidence in Aira’s vision to establish an interconnected value chain, which not only fosters robust profit margins but also ensures a seamless experience for consumers. Ganev emphasizes that realizing bold visions requires adept execution, and he finds that Martin Lewerth and his team possess the ideal blend of seasoned leadership and expertise across pivotal functions.

Andrew Montgomery, a partner at Collaborative Fund, highlights their investment strategy, which centers on backing businesses capable of delivering substantial financial returns while making a substantial climate impact. He conveys enthusiasm about Aira’s ambitious endeavors in the realm of clean energy technology for every household, recognizing residential heating as a priority sector from an emissions reduction perspective. Montgomery also expresses their delight in supporting a Swedish company that facilitates the export of Nordic expertise in heat pump adoption, innovation, and design.

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