Aira Raises €145m to Expand Green Heating Subscription Service
Swedish heat pump supplier Aira has secured €145m (£125m) in new equity investment to support the expansion of its green heating subscription service. The company, founded in 2022 by impact investor Vargas, plans to become Europe’s leading supplier of air source heat pumps. The funding will be used to drive rapid market expansion in the UK, Italy, and Germany, with the aim of deploying clean heat technology in five million European homes over the next decade.
Aira Aims to Deploy Clean Heat Technology in 5 Million European Homes
Aira’s recent equity investment aims to fuel its ambitious plan to provide clean heat technology to five million homes across Europe in the next ten years. The company is focused on becoming the leading supplier of air source heat pumps in Europe and hopes to make green home heating more accessible through an affordable monthly payment model. In addition to air source heat pumps, Aira plans to offer intelligent heat pumps, solar panels, battery storage systems, and flexible electricity tariffs.
Aira Plans to Create 8,000 Jobs in the UK with Green Heating Expansion
As part of its expansion strategy, Aira intends to create 8,000 jobs in the UK across various hubs, including Manchester, Sheffield, and London. The company aims to meet the country’s net-zero commitments and make the transition to greener heating more accessible and affordable for households. Aira’s end-to-end service, which includes insulation, installation, and aftercare, aims to fill the gap in the market for heat pumps by providing them without the usual upfront costs.
Aira to Introduce Affordable Monthly Payment Model for Green Home Heating
Aira plans to introduce an affordable monthly payment model to make green home heating technology more accessible to households. The company recognizes the need to reduce upfront costs and aims to make the transition to greener heating easier for homeowners. By offering an end-to-end service that includes insulation, installation, and aftercare, Aira aims to provide a more affordable and convenient solution for households looking to reduce their carbon footprint.
Aira’s Equity Investment Fuels Ambitions to “Take Europe off Gas”
Aira’s recent equity investment will be instrumental in spearheading its plans to “take Europe off gas”. With 130 million fossil fuel boilers still in use across the continent, the company aims to reduce Europe’s total CO2 emissions. Switching to an air source heat pump with Aira can enable households to slash their heating costs by up to 40% and reduce their CO2 emissions by 75%. With fully renewable electricity, the reduction in CO2 emissions can reach 100%. The funding will enable Aira to accelerate its pan-European expansion and significantly reduce both heating bills and carbon emissions.
Analyst comment
Positive news: Aira Raises €145m to Expand Green Heating Subscription Service
As an analyst, I anticipate that the market for green heating technology will experience significant growth due to Aira’s expansion plans. The company aims to become Europe’s leading supplier of air source heat pumps and plans to deploy clean heat technology in five million European homes over the next decade. This funding will drive rapid market expansion in the UK, Italy, and Germany, making green home heating more accessible through an affordable monthly payment model. It is also expected to create 8,000 jobs in the UK and contribute to reducing Europe’s CO2 emissions.
