BIP
A Swedish company has secured €150 million, will expand its heat pump factory in Wroclaw
Aira, which operates on the site of the former Volvo plant, has just secured €150 million from international investors. The new capital will be used mainly to develop the factory near Wroclaw and introduce new products. The investment will also strengthen the region's position as one of the most important heat pump production centers in Europe.
Aira has just secured €150 million to expand its heat pump production. The funds come from five investors: Altor and Kinnevik funds, Singapore-based investment company Temasek, as well as Kallskär1 and Lingotto. Most of the money will go towards the expansion of the Wroclaw factory and the development of new technological solutions.
Our company is currently undergoing intensive development. This gives our employees a sense of stability and the prospect of a secure future.
Bogdan Jurgielewicz, chairman of the MOZ NSZZ Solidarność committee
There was Volvo, now there is Aira
Aira began operations in Poland in 2023. At that time, it agreed to take over a factory from another Swedish company, Volvo Buses. Wroclaw was chosen as the location due to its skilled workforce and excellent infrastructure, which enabled the company to significantly accelerate the start of production.
The investment was worth PLN 1.27 billion, and production started just nine months after the investment decision. The plant currently employs around 200 people, but there are plans to increase this team in the coming years.
Currently, the 220,000 sq m production plant manufactures around 250,000 heat pumps per year. However, there are plans to double this number to 500,000. This will be possible thanks to the financing obtained.
Plans to conquer foreign markets
Aira was founded in 2022 in Sweden by Vargas. Its headquarters are located in Stockholm. The company sells its products in three markets: Germany, the United Kingdom, and Italy. Poland, as a manufacturing country, is naturally on the list of potential sales markets, although the date of entry into the domestic market has not yet been announced.
The company operates on a subscription model, which allows customers to use heat pumps for a monthly fee. It currently sells its products in Germany, the United Kingdom, and Italy. It invests heavily in research and development and product innovation. Its annual revenue has exceeded €200 million. Its plans for the next five years include expansion into more than 20 countries and the employment of over 10,000 people.