HERON

What HERON does

HERON is a Greek integrated energy group operating electricity generation, supply, and natural gas supply businesses under GEK TERNA S.A. ownership. Founded in 2001 as HERON THERMOELECTRIC G.P., the company operates two combined-cycle gas turbine power plants near Thiva - HERON I (147 MW) and HERON II (435 MW) - totaling 442 MW of installed generation capacity, which supplied into the Greek electricity market and achieved 58% output efficiency versus a 54% Greek market average for gas-fuelled plants. Following GEK TERNA's 2021 acquisition of 100% of the share capital, HERON was reorganized as HERON ENERGY S.A. and serves as the group's integrated energy supply arm with multi-jurisdictional trading operations across Italy, Turkey, Bulgaria, North Macedonia, Albania, and Southeast Europe.

The company's core product is electricity and natural gas supply to residential, business (low and medium voltage), and industrial (medium and high voltage) customers across Greece, anchored by 200,000+ low-voltage residential customers and 300+ associated retail stores, franchise partners, and digital channels (myHERON portal, Click2Call, and EnergiQ mobile app). Pricing is delivered through tiered structures including fixed-rate Blue plans, variable-rate Yellow plans, and time-of-use Happy Hour plans, plus Gas Max and Gas Pass gas products. Supplementary services expand the surface area into renewables (HERON EN.A), photovoltaics (EcoRoof), gas boiler installation financing (EcoHeat), electromobility (PULSE), and corporate car sharing (Eco-MOVE), with a customer loyalty program (HERON VIBES) supporting retention. Revenue is generated predominantly through subscription/recurring electricity and gas tariffs, supplemented by hardware/service fees (Energy Services), wholesale trading, and generation sales. Certifications include ISO 9001, 14001, 45001, 27001, and 27701.

Technology is layered around AI-driven demand response, smart metering aggregation across multi-dwelling buildings, digital twin-based optimization, and an autonomous energy flexibility agent (iFLEX Assistant) deployed in the EnergiQ Lab mobile application, developed largely through EU research programs. The company's go-to-market combines direct-to-consumer sales via owned retail stores, franchise partner expansion, channel collaborations with Kotsovlos, WIND, OPAP, ELINOIL, and SPEEDEX networks, and digital self-service. Industrial and wholesale energy market participation is supported by the Optimus Energy subsidiary, which provides representation and financial optimization services to renewable energy producers in Greece and Southeastern Europe.

Note: A separately named Heron (US-based AI document workflow automation startup) appears in the source material with a $16M Series A led by Insight Partners and 150+ customers in lending, insurance, and equipment finance. This appears to be a distinct entity from HERON ENERGY S.A.; this analysis is anchored to the Greek HERON energy business defined by the firmographic profile.

Name

HERON

Legal name

HERON SOCIETE ANONYME ENERGY SERVICES (ΗΡΩΝ ΑΝΩΝΥΜΗ ΕΤΑΙΡΕΙΑ ΕΝΕΡΓΕΙΑΚΩΝ ΥΠΗΡΕΣΙΩΝ)

Website

https://heron.gr

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

251–500 employees

Short description

HERON is a Greek integrated energy group supplying electricity and natural gas to 200,000+ residential, business, and industrial customers across Greece through 442 MW of gas-fired generation, 300+ retail stores, and digital self-service channels. Wholly owned by GEK TERNA S.A. since 2021.

Ownership category

akta.pro rank

Headquarters

HQ city

Athens

HQ country

Greece

HQ region

Europe

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Electricity Supply: HERON supplies electricity to residential, commercial, and industrial customers across low voltage, medium voltage, and high voltage segments. Revenue is generated through regulated and competitive electricity supply tariffs, with multiple pricing plans including fixed-rate and dynamic pricing options.
2. Natural Gas Supply: HERON supplies natural gas to household, professional, and industrial facilities. The company was the first private supplier in Greece to offer natural gas at stable rates and provides integrated new supply connection services.
3. Electricity Trade: HERON participates in cross-border electricity trade, accessing markets in Italy, Turkey, Bulgaria, North Macedonia, Albania, and Southeast Europe, generating revenue through energy trading and arbitrage.
4. Electricity Generation: HERON generates electricity through its natural gas-powered plants (HERON I: 147 MW, HERON II: 435 MW) totaling 442 MW installed capacity, supplying into the Greek electricity market.
5. Energy Services (EcoRoof, EcoHeat, PULSE): Additional services including photovoltaic installation financing (EcoRoof), natural gas boiler installation financing (EcoHeat), and electromobility solutions (PULSE), providing revenue through service fees and financing arrangements.
6. Document Workflow Automation (Heron US): Heron (US) automates document workflows for industries such as lending, insurance, and equipment finance using AI to process unstructured data, generating revenue through software subscriptions and service fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels7 records

Core offering

HERON is a Greek energy company that supplies electricity and natural gas to residential, business, and industrial customers across Greece. It operates its own combined-cycle power generation fleet (HERON I and HERON II totaling 582 MW) and offers multiple fixed and variable-price plans, smart-metering, electromobility charging, rooftop PV (ECOROOF), heat-pump solutions (ECO HEAT), and a renewable program (HERON EN.A). The business is supported by a 300+ retail store network and a digital customer portal (myHERON).

Product overview

HERON is an integrated energy company offering a unified portfolio of electricity and natural gas supply products for residential and business consumers, supported by add-on services and digital tools. The core offering consists of electricity and natural gas supply plans with various pricing structures (fixed-rate Blue plans, variable-rate Yellow plans, time-based Happy Hour plans). These are complemented by supplementary services including HERON EN.A (renewable energy), PULSE (electromobility), ECOROOF (photovoltaics), ECO HEAT (heating systems), and the EnergiQ App for smart consumption management. The myHERON customer portal provides account management while HERON VIBES offers a rewards program. All services are backed by the company's power generation assets (HERON I and HERON II gas-fired plants totaling 442 MW) and energy portfolio management capabilities.

Differentiator

Problem solved

Functional benefit

Brands

• EnergiQ App: Mobile application that informs users of the next day's electricity supply charges, enabling smart energy consumption planning and load shifting to lower-cost hours.
• myHERON
• HERON VIBES
• HERON ΕΝ.Α
• PULSE Ηλεκτροκίνηση
• ECOROOF
• ECO HEAT

Quantifiable outcome

• 58% plant efficiency vs. 54% Greek market average for gas-fuelled plants
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability8 records

Feature5 records

Partnerships

Twelve partnerships are on record, tiered significant, major and minor.

• Schneider ElectricsignificantStrategic or Co-development Partner · 14 December 2020HERON and Schneider Electric jointly created the 'Eco-Advisor' service using smart IoT technologies to optimize energy performance of businesses.
• KotsovlosmajorChannel Partner/ Reseller/ Distributor · 15 October 2020Collaboration with Kotsovlos allows HERON's energy programs to be available through Kotsovlos retail store network across Greece.
• Macedonian Paper Mills (MEL)significantStrategic or Co-development Partner · 12 October 2020Strategic partnership with Macedonian Paper Mills (MEL) on the path for the liberalization of the domestic High-Voltage electricity market.
• SPEEDEXminorChannel Partner/ Reseller/ Distributor · 5 November 2019HERON's competing programs became available through the SPEEDEX branch network.
• ENGIE Hellas and Direct SolutionssignificantStrategic or Co-development Partner · 1 June 2019Collaboration with ENGIE Hellas and Direct Solutions to launch the first corporate car sharing service in the Greek market (ECO-MOVE).
• Greenwings / Green Strategic PartnershipsignificantStrategic or Co-development Partner · 27 November 2018Long-term strategic partnership to solidify presence in different sectors of the energy market.
• HERON Share the Light Platform (microfinancing)minorStrategic or Co-development Partner · 14 November 2018Launch of the first online platform for energy microfinancing in Greece.
• BRAINBOXminorChannel Partner/ Reseller/ Distributor · 1 October 2018Collaboration with BRAINBOX to expand the use of electric bikes in Attica.
• ELINOILminorChannel Partner/ Reseller/ Distributor · 5 September 2018Strategic partnership for supplying electricity and natural gas to the Greek market through ELINOIL's network.
• OPAPminorChannel Partner/ Reseller/ Distributor · 2 June 2017HERON's competitive programs became available in selected OPAP shops.
• WINDminorChannel Partner/ Reseller/ Distributor · 8 December 2016HERON's programs became available in WIND's network of stores.
• Tirreno Power (Italy)minorStrategic or Co-development PartnerWithin the SCO2OP-TES research project, HERON tests its energy storage solutions at its CCGT plant based on the technology implemented at Tirreno Power's 800 MW CCGT plant in Italy.

Scale indicators7 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Public Power Corporation (PPC / ΔΕΗ): Largest Greek electricity generator and incumbent retailer across all voltage segments. Direct competitor to HERON in Greek residential, business and industrial electricity supply, with overlap in generation and supply business models.

Broad incumbents

• Mytilineos (Metlen Energy & Metals): Greek conglomerate with significant power generation, supply and renewables operations competing with HERON for Greek and SE European customers, including gas-fired generation and energy trading overlap.
• Hellenic Petroleum (HELPE / Energean): Major Greek integrated energy company active in refining, renewables and natural gas. Comparable as a large Greek energy platform with overlap in natural gas supply and power generation adjacent to HERON's portfolio.
• ENGIE: Global energy major and former HERON shareholder (2009–2021). Directly comparable in CCGT generation, natural gas supply, retail energy services and demand-response/digital offerings across Europe.
• Enel: European integrated utility with major operations across generation, retail electricity/gas supply and renewables. Highly comparable in business model across liberalized European markets.
• E.ON: Large European retail energy and networks operator with overlapping offerings in electricity/gas supply, smart home/digital energy services and EV charging across deregulated European markets.
• EDF: French integrated utility with generation, retail supply and energy services across Europe. Comparable as a vertically integrated incumbent with nuclear/gas generation and large retail customer book.
• RWE: European energy major with significant CCGT generation, retail supply and trading operations. Comparable in generation mix and European retail energy supply business model.

Regional players

• Motor Oil Hellas: Greek oil refining and marketing company expanding into power generation, natural gas and renewables. Comparable as a Greek-based energy operator diversifying into the same electricity/gas supply market as HERON.
• Elinoil: Greek fuel marketing and energy company that already has a channel partnership with HERON. Comparable as a competing Greek fuel/energy retailer now extending into electricity and natural gas supply.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC02V8_CaOxbkV-WJsgdyung
• Facebookfacebook.com/heronGR
• LinkedInlinkedin.com/company/1255717?trk=prof-0-ovw-curr_pos
• Instagraminstagram.com/heron.gr/?hl=el
• TikToktiktok.com/@heron.gr

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

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 HERON