Heat pump company Qvantum raises €108m
8th January 2025
SWEDEN: Swedish heat-pump systems and technology company Qvantum has raised €108m in Series C capital, including a debt facility of €15m to increase production and drive European expansion.
Founded in Sweden in 1993, Qvantum has extensive knowledge in both heat pump technology and energy systems engineering and works in close collaboration with engineering consultants, installers, project developers and utilities.
With headquarters and factory in Limhamn, Sweden, the company also operates a further Swedish production facility in Åstorp. In 2023, it invested €38m in a third plant in Nyíregyháza, Hungary, with a potential output of one million propane heat pumps per year.
Lead investors in Series C capital raise include existing investors Thomas von Koch (partner and ex CEO of global private equity firm EQT) and IMAS Foundation, a sister foundation to the INGKA Foundation, owner of INGKA Group, the operator of the majority of IKEA stores globally.
Munters, the air treatment and climate solutions company, also participated in the Series C financing round and has a co-operation agreement with Qvantum. Other Series C investors are SEB Greentech, DIG Investment (connected to the H&M Persson family), NEA Partners and Climentum Capital. Mats Rahmström, former CEO of Atlas Copco, is also investing and has joined the Qvantum board.
Related stories:
Qvantum heat pumps enter the UK market – 27 November 2024
UK: Swedish heat pump manufacturer Qvantum has officially introduced its propane-based heat pump solutions to the UK market. Read more…
Qvantum establishes French subsidiary – 20 October 2024
SWEDEN/FRANCE: Swedish heat pump and energy system company Qvantum has established a subsidiary in France. Read more
Qvantum plant has 1 million heat pump capacity – 15 September 2023
SWEDEN: Swedish manufacturer Qvantum has acquired Electrolux’s Hungarian refrigerator factory with a potential output of one million propane heat pumps per year. Read more…
Qvantum raises €42m to launch “natural” refrigerant heat pumps – 8 January 2023
SWEDEN: Swedish company Qvantum has raised €42m to support the launch of next generation modular electric heat pumps using “natural” refrigerants. Read more…
