Aira announces €150m equity financing to accelerate the electrification of residential heating in Europe
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The investment is secured from existing investors, Altor, Kallskär¹, Kinnevik, Lingotto and Temasek.
Since launching in June 2023, Aira has expanded into Germany, Italy, and the UK, rapidly establishing itself as a leading clean energy-tech company in Europe, with an annual sales run-rate of €200M. Aira offers an unmatched customer proposition, including a monthly payment plan, end-to-end service, and a 15-year Aira Guarantee. The company now employs 1,200 people and has opened 18 hubs and four Aira Academies to train highly skilled heat pump installers across Europe.
“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.”
Peter Prem
Aira Group CEO
Peter Prem, Aira Group CEO, continues: “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.”
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 CO₂ 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.”
Peter Prem
Aira Group CEO
Peter Prem continues: “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.”
Notes to Editors
1 Kallskär related entities including Vargas (Aira Chairman investment vehicle)
About Aira
Aira is one of Europe’s leading direct-to-consumer clean energy-tech players. Aira accelerates the electrification of residential heating with intelligent clean energy-tech to help consumers reduce increasingly volatile energy bills and enable the net zero transition. With Aira, consumers across Europe have a go-to provider for complete home energy-saving solutions, with intelligent heat pumps at the heart. Aira’s vertically integrated model, combined with a consumer-centric monthly payment plan that requires no upfront cost, delivers best-in-class consumer economics — making clean energy not only more accessible, but more affordable. By significantly reducing household energy bills, Aira empowers people to take control of their energy use, save money, and contribute to a cleaner future. Aira’s mission is to empower people to join the clean energy revolution, one home at a time. Founded in Stockholm, Sweden, by Vargas, Aira is backed by climate and innovation investors including Altor, the Burda family, Collaborative Fund, Creades, Kallskär related entities including Vargas, Kinnevik, Lingotto, Nesta Impact Investments, Statkraft Ventures, and Temasek.
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