Aira Raises €150M to Expand Heat Pump Production Europe-Wide

Swedish clean energy company Aira has secured €150 million in equity financing from existing investors to accelerate the electrification of residential heating across Europe. Founded in 2022 by Vargas Holding AB, Aira has rapidly expanded since its June 2023 launch into Germany, Italy, and the United Kingdom, achieving an annual sales run-rate of €200 million and employing 1,200 people. The new funding will be used to increase production capacity at its factory in Wroclaw, Poland, and to enhance its R&D center in Sweden, focusing on developing an integrated product portfolio and a comprehensive household energy management system. Aira aims to position itself as Europe's leading direct-to-consumer clean energy-tech brand by expanding operational excellence, launching innovations, and deepening market presence through strategic partnerships. The company has also invested in training programs, opening multiple hubs and academies to build a skilled installer workforce. Leadership under Group CEO Peter Prem emphasizes a mission to transition Europe off gas by providing intelligent heat pump solutions and clean energy technology to millions of homes.