OSO Hotwater

What OSO Hotwater does

OSO Hotwater is a Norwegian manufacturer of stainless steel water heaters and storage tanks, founded in 1932 and headquartered in Hokksund, Norway, with approximately 340 employees and an estimated turnover of approximately 1 billion NOK. The company was the first in the world to produce stainless steel storage tanks (1968) and now operates manufacturing facilities in Hokksund, Norway and Åmål, Sweden, with the latter producing large commercial tanks up to 15,000 liters. Its core technology stack centers on proprietary NANOPUR insulation combined with vacuum panels (delivering market-lowest standby heat loss), the ULTRAWELD corrosion-resistant welding system, INCOTEC Incoloy 825 immersion heaters, and smooth-pipe limescale-resistant heat exchanger coils. The portfolio spans residential (SAGA 2.0 series, NANO, WALLY), commercial (MAXI series 300–15,000L, DELTA, OPTIMA), marine/offshore (Triton Marine, Maxi Marine with ABS/DNV GL/Bureau Veritas/Lloyd's certifications), and OEM custom stainless-steel tanks supplied to third-party heating brands.

The company's business model is hardware sales across three primary channels: direct-to-installer sales through professional plumbers in Norway (where OSO holds ~67% household share, with two out of three homes using an OSO water heater); export distribution through a network of country-specific distributors (ONNINEN, AHLSELL, MASTERWATT, RIADA SALES, etc.) covering 20+ countries with exports at approximately 50% of turnover; and OEM/white-label supply to major heat pump and boiler manufacturers globally. Marine/offshore products serve enterprise customers including Troll, Oseberg, and Valhall oil platforms and cruise ship operators via Hatenboer-Water and Masterwatt Marine Solutions. A recurring-revenue layer is being built around the OSO InCharge smart controller platform, which uses machine learning on household consumption patterns and Nord Pool spot electricity prices to shift heating to lowest-price hours, plus a subscription-based Solar Mode that stores surplus solar PV energy as hot water. In June 2025, LG Electronics announced the acquisition of all shares in OSO Group AS, integrating the company into LG ECO Solutions' European heating strategy while preserving the OSO brand, Norwegian/Swedish production, and existing CEO Roy Magnussen.

Name

OSO Hotwater

Legal name

OSO Hotwater AS

Website

https://osohotwater.com

Company type

Private

Founded year

1932

Operating status

Acquired

Headcount range

251–500 employees

Short description

OSO Hotwater is a Norwegian manufacturer (founded 1932) of stainless steel water heaters and storage tanks (5L to 15,000L), serving residential, commercial, marine/offshore, and OEM customers across 20+ countries, with proprietary NANOPUR insulation and AI-driven smart controls.

Ownership category

akta.pro rank

Product category

Water Heaters and Hot Water Storage Tanks

NAICS

Power Boiler and Heat Exchanger Manufacturing (332410), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341)

SIC

Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures (3430), Heating Equipment, Except Electric & Warm Air Furnaces (3433), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585)

akta.pro primary industry

Boilers, Furnaces & Process Heating Equipment (IMAHAKAD)

akta.pro secondary industries

Commercial Water Heater & Boiler Service (HSAOACAJ), Expansion Tank, Circulator Pump & Zone Valve Service (HSAOACAG)

Keywords

• Stainless steel water heaters
• Hot water storage tanks
• Commercial hot water cylinders
• Marine offshore tanks
• OEM heating tanks

Headquarters

HQ city

Hokksund

HQ country

Norway

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Water Heater Sales (Domestic): Direct sales of stainless steel water heaters to Norwegian consumers through professional plumbers and installers. Products include SAGA series for residential use with various capacity options.
2. Water Heater Sales (Export): Export sales making up approximately 50% of turnover, covering Nordics, UK, Russia, US, Canada, and marine/offshore markets through international distributor network.
3. OEM/White-label Tank Solutions: Custom OEM stainless steel tanks supplied to major heating brands worldwide. Includes full range for heat pump systems, fully insulated OEM products, and NANOPUR/vacuum insulation options. Contributes to innovation and flexibility.
4. Marine/Offshore Products: Specialized stainless steel tanks for marine and offshore installations including cruise ships, oil platforms. Products include Triton Marine and Maxi Marine series with maritime certifications (ABS, DNV GL, Bureau Veritas, Lloyd's Registry).
5. Commercial/Industrial Products: Commercial hot water cylinders and storage tanks from 300 to 15,000 liters for various heating systems including heat pumps, solar, and district heating.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

OSO Hotwater is a Norwegian manufacturer of stainless steel water heaters and hot water storage tanks, producing a comprehensive portfolio spanning domestic, commercial, marine/offshore, and OEM segments. The company operates one of Norway's most robotized manufacturing facilities in Hokksund, with a second plant in Åmål, Sweden for large commercial tanks up to 15,000 liters. Products feature proprietary NANOPUR insulation, vacuum panels, ULTRAWELD corrosion-resistant welding, INCOTEC heating elements, and the OSO InCharge smart control platform that integrates with Nord Pool spot electricity prices and solar PV systems.

Product overview

OSO Hotwater is a Norwegian manufacturer of stainless steel water heaters and hot water storage solutions, producing a comprehensive portfolio spanning domestic, commercial, marine, and industrial segments. The core domestic offering centers on the SAGA 2.0 series (launched 2025), available in STANDARD, EXPRESS, SUPERCHARGED, INDUSTRIAL, and COIL variants — from single-element basic models to integrated smart water heaters with AI-powered price optimization via the OSO inCharge app and OSO Charge controller. Commercial products are organized under the MAXI series (300–15,000L), covering indirect and direct electric cylinders, accumulator tanks, and coil units for heat pumps, solar, and district heating. The DELTA and OPTIMA series offer premium indirect tanks with integrated buffer tanks for heat pump systems. Residential accessories include the compact OSO NANO point-of-use heater and OSO WALLY wall-mounted model. Marine/offshore products include the Triton and Maxi Marine lines with marine-grade certifications (ABS, DNV GL, Bureau Veritas). The OSO Charge smart controller platform provides AI-driven optimization linked to Nord Pool electricity prices and solar PV systems. A dedicated OEM division supplies custom stainless steel tanks to third-party heating brands.

Differentiator

Problem solved

Functional benefit

Brands

• SAGA 2.0: Next generation water heater series with market's lowest heat loss, featuring Standard, Express, and Supercharged variants
• SUPERCHARGED
• OSO InCharge
• CHARGE Retrofit
• OSO Charge
• Triton Marine
• Maxi Marine
• MAXI
• OSO Manufacturing AB

Products and services

• SAGA 2.0 STANDARD Residential stainless steel water heater with single electric heating element, 30% more foam insulation, smart/solar-ready design. Available in 150L, 200L, and 300L capacities with 7-year warranty and CSA certification.
• SAGA 2.0 EXPRESS Residential stainless steel water heater with twin electric heating elements that heat water 3x faster than the Standard model. Available in 150L, 200L, and 300L capacities with smart-ready OSO Charge retrofit option.
• SAGA 2.0 SUPERCHARGED Smart residential water heater with integrated OSO CHARGE controller that automatically shifts heating to lowest electricity price hours using Nord Pool spot market data. Saves approximately 3,000 kWh over product lifetime. Available in 200L and 300L capacities.
• SAGA 2.0 INDUSTRIAL Residential water heater designed for aggressive industrial and harsh water environments. C5 corrosion-resistant aluminum-gray outer casing withstands up to 200 mg Cl./l water. 300L capacity with OSO CHARGE compatibility.
• SAGA 2.0 COIL Residential water heater with integrated heat exchanger coil for high-temperature energy sources such as gas boilers, biomass boilers, or district heating systems up to 30 kW. Includes electric backup element. Available in 150L, 210L, and 300L capacities.
• OSO SUPERCHARGED Smart water heater that learns household consumption patterns and automatically shifts heating to lowest electricity price periods via Nord Pool integration. Saves approximately 3,000 kWh over lifetime. Available in 200L and 300L capacities.

Quantifiable outcome

• Saves approximately 3,000 kWh over product lifetime compared to predecessor models
• +6 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability2 records

Feature8 records

Partnerships

Nine partnerships are on record, tiered flagship, core and minor.

• LG Electronics Inc. (LG ECO Solutions)flagshipStrategic or Co-development Partner · 30 June 2025LG Electronics acquired all shares in OSO Group AS in June 2025. OSO will become part of LG ECO Solutions' commitment to leading the European heating market. The acquisition combines OSO's stainless steel tank expertise with LG's heat pump technology. OSO continues as separate company and brand with production continuing from Hokksund and Åmål. Roy Magnussen remains as CEO. Transaction expected to complete by end of Q3 2025.
• Hatenboer-WatercoreChannel Partner/ Reseller/ DistributorGlobal marine partner for OSO Hotwater marine products. Multiple regional offices including UK, headquarters in Netherlands Schiedam, Americas (USA), MENA (Dubai), and Asia (Singapore), plus Hamburg office. Provides marine water treatment solutions alongside OSO marine tanks.
• ONNINEN OYcoreChannel Partner/ Reseller/ DistributorFinnish distributor for OSO products in Finland.
• AHLSELL ABcoreChannel Partner/ Reseller/ DistributorSwedish distributor for OSO products in Sweden.
• MASTERWATT B.V.coreChannel Partner/ Reseller/ DistributorDutch distributor for OSO products in the Netherlands, with separate marine division (Masterwatt Marine Solutions).
• RIADA SALES INC.coreChannel Partner/ Reseller/ DistributorCanadian distributor for OSO products serving the Canadian market.
• Kornerstone Ships & BoatsminorChannel Partner/ Reseller/ DistributorMarine product distributor listed on OSO 'Where to Buy' page.
• Nord PoolcoreTechnology or IntegrationNord Pool electricity market integration for OSO InCharge smart control system. Smart products use Nord Pool spot electricity prices to optimize heating times for lowest cost.
• OEM Heating Industry PartnerscoreOEM/ Whitelabel/ Licensing PartnerOSO supplies custom OEM stainless steel tanks to leading heating brands worldwide including heat pump and boiler manufacturers. Products include tanks with NANOPUR and vacuum insulation for major European and US market brands.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Ariston Group: Italy-headquartered global manufacturer of water heaters, boilers, and heating components serving residential and commercial markets across Europe, Asia, and Latin America. Closest direct competitor to OSO in stainless steel and electric water heater portfolios.
• Stiebel Eltron: German manufacturer specializing in water heating, heat pumps, and ventilation; family-owned like OSO until recently. Strong overlap on premium tank-in-tank units, small electric water heaters, and heat-pump-coupled hot water solutions.
• Rinnai Corporation: Japan-headquartered global manufacturer of gas and electric water heaters with strong brand positions in Asia, the Americas, and Australia. Comparable business model as a specialist water heating manufacturer competing on quality, efficiency, and connected features.
• Bradford White Corporation: US privately-held manufacturer of residential and commercial water heaters. Comparable as a family-influenced specialist manufacturer focused on tank-type water heating for the professional installer channel in North America.
• NIBE Group: Sweden-listed Nordic heating specialist in heat pumps, water heaters, and HVAC components. Closest Nordic peer to OSO with similar exposure to European heat pump adoption and overlapping commercial/industrial cylinder lines.

Broad incumbents

• A. O. Smith Corporation: US-listed global leader in water heating and water treatment with multi-billion-dollar revenue. Overlaps directly with OSO in residential and commercial water heaters globally and serves as a benchmark for category economics.
• Vaillant Group: European HVAC incumbent headquartered in Germany with strong positions in boilers, heat pumps, and hot water storage. Competes head-to-head with OSO in residential hot water cylinders and heat-pump-coupled tanks across Europe.
• BDR Thermea Group: European privately-held heating major (Baxi, De Dietrich, Remeha brands) offering boilers, heat pumps, and water heating solutions. A direct competitor in commercial and residential hot water tanks, particularly across UK and continental Europe.
• Viessmann (Carrier Climate Solutions): German heating manufacturer now part of Carrier's climate solutions business; offers boilers, heat pumps, and hot water storage. Directly comparable to OSO's MAXI and DELTA ranges in the heat pump–coupled tank segment.
• Bosch Thermotechnology: Division of Robert Bosch offering boilers, heat pumps, and water heating globally. Competes with OSO across residential and commercial hot water, with deeper distribution scale but a broader portfolio spread.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCuE7aROKNrrkm8FzVziUmSg?view_as=subscriber
• Facebookfacebook.com/osowaterheaters
• Instagraminstagram.com/osohotwater

Compliance21 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OSO Hotwater