Swedish based clean energy-tech company, Aira, has raised SEK 1 billion from a group of climate and innovation focused investors to support its mission to take Europe off gas and accelerate the pathway to energy sovereignty. The new capital will finance the expansion of Aira's pan-European, fully vertically integrated platform and customer offering.
Founded by Harald Mix – the man behind climate tech unicorns H2 Green Steel and Northvolt – the startup has already launched in Germany and Italy and is next to expand to the UK. New investors include Altor Equity Partners, Kinnevik, Creades AB and Collaborative Fund.
Reducing CO2 emissions
Europe still relies on 130 million fossil fuel-based boilers to heat homes, accounting for 10% of Europe’s CO2 emissions. Switching to an air source heat pump substantially reduces household heating bills and carbon emissions. With Aira’s innovative and accessible solution, households can save up to 40% on their heating costs while simultaneously reducing CO2 emissions by more than 75%.
The additional funding will enable Aira to make further investments to spearhead the electrification of residential heating, drive decarbonisation and reduce energy consumption:
- Rapid market expansion across Italy, Germany, and the UK, creating 10,000 new clean energy expert jobs to serve five million homes within the next decade.
- Advance Aira’s commercial proposition by introducing an affordable monthly payment model, making home energy solutions accessible to European homeowners.
- Broaden Aira’s clean energy-tech portfolio with products and services including solar, dynamic energy tariffs and energy storage, starting with intelligent heat pumps.
- Invest in R&D and technology to provide a simple to use energy optimisation customer experience.
- Enable the ramp-up of Aira’s manufacturing capabilities in Poland.