Northvolt Founder Expands Green Empire Into Heat Pumps
- Targets rollout to 5 million homes on 25% annual demand surge
- New venture set to start operating this year in Germany, UK
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The private equity founder of unicorn green ventures like Swedish battery maker Northvolt AB is targeting residential homes with smart heat pumps to tap demand that’s expected to surge 25% annually.
Aira will be Vargas Holding AB’s fourth startup focusing on decarbonization after Northvolt, H2 Green Steel and Polarium. The plan to provide home energy systems will save families in Europe as much as 30% of heating related energy costs, as the continent seeks to wean itself off fossil fuels including gas from Russia, according to Vargas’s founder.