Stockholm-based Aira has secured €150 million in equity financing. Existing investors Altor, Kallskär, Kinnevik, Lingotto, and Temasek provided the capital. This significant Aira funding will accelerate the electrification of residential heating across Europe.
The capital will scale Aira's operations and expand its clean energy-tech range. Furthermore, it boosts research and development in Sweden and increases production in Poland. The company also plans to grow its market presence and strengthen industry partnerships.
Accelerating Europe's Heating Transition
Since its 2023 launch, Aira has expanded into Germany, Italy, and the UK. The company now employs 1,200 people. It established 18 hubs and four Aira Academies to train heat pump installers.
Aira aims to reduce energy bills and enable the net zero transition.
Residential heating contributes significantly to Europe's CO2 emissions. Consequently, switching from gas boilers to air source heat pumps can reduce costs and emissions. Companies like thermondo and Enter also operate in the European energy efficiency market.