Aira, a Swedish company that offers heat pumps, photovoltaic panels, and other clean energy technologies, has successfully completed a Series B funding round of €145 million. The round saw participation from European, Asian, and American investors focused on climate technologies. Leading the funding were Altor, Kinnevik, and Temasek, surpassing the initial target of €85 million. They were joined by the Burda family, Collaborative Fund, Creades, Nesta Impact Investments, Statkraft Ventures, and Lingotto, an investment company of Exor, the Agnelli family's holding company, which was already among Aira's investors. "The equity funding will allow Aira to further accelerate the electrification of residential heating in Europe, enabling European families to reduce energy bills, promote decarbonization, and decrease dependence on natural gas imports," stated a press release. Aira highlights that there are still 130 million gas boilers in use in Europe, with domestic heating representing the third-largest source of CO2 emissions and 10% of the total emissions in the Old Continent. In addition to the equity funding, the Polish government has allocated €15 million to Aira for the establishment of a production site in Poland for heat pump manufacturing. With the resources raised, Aira aims for rapid and continuous expansion in Italy, Germany, and the United Kingdom. Their goal is to provide clean energy technological solutions to five million households in the next decade, introduce monthly payment models to make the solutions accessible to individuals, and expand their portfolio of clean energy technologies. "The completion of our Series B funding leaves us well-capitalized and ready to accelerate the expansion of our pan-European platform, significantly reducing heating bills for families and carbon emissions throughout Europe," commented CEO Martin Lewerth.
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