Aira, a Swedish clean-energy tech company has attracted €150m from five private equity investors.
The funding round closed with fresh commitments from existing investors Swedish private equity firms Altor, Kinnevik, US Manager Lingotto, Kallskär - the investment vehicle of Aira chairman, Harald Mix and Singaporean investment company Temasek. It will help fund the firm’s ongoing expansion into the European market, bolster the Swedish R&D centre to develop its integrated product portfolio, while increasing production capacity at Aira’s factory in Wroclaw, Poland.
Since launching in June 2023, Aira has expanded into Germany, Italy, and the UK.
Residential heating is the third largest emitter of C02 across the continent, with about half of the energy consumption used to fuel homes still being met by fossil fuels, according to the European Environment Agency.
“This investment reflects the strong, long-term support of our investors and enables us to build on the substantial foundation we’ve established as we transition from a start-up to scale-up. It empowers us to double down on our mission to take Europe off gas by expanding with operational excellence, launching new innovations, and accelerating our growth to bring clean energy-tech to millions of homes,” said Peter Prem, Aira Group CEO.
