What Sunex Sa does

Sunex S.A. is a Polish manufacturer of renewable-energy heating systems headquartered in Racibórz, Poland, founded in 2002 and listed on the Warsaw Stock Exchange (main market since July 30, 2015). The company designs and produces heat pumps (Nexus monoblock/split lines with inverter Mitsubishi Scroll compressors and R290 natural refrigerant; GELBI and DROPS DHW heat pumps), flat-plate and vacuum-tube solar collectors (SX AL, AMX, NX, BASICX series), DHW and buffer tanks (FISH range), hydraulic modules and accessories (HYDRATOWER, Sprzęgło-rozdzielacz, GPSN RKC), and factory-configured hybrid systems combining heat pumps with solar collectors. Core differentiators include a proprietary Harf absorber technology that increases heat-transfer surface sevenfold, seamless single-profile aluminum collector frames without corner welds, and Solar Keymark certification on multiple product lines.

The company generates the vast majority of revenue through B2B hardware sales to European installer and distributor networks, supplemented by public-procurement tenders and direct installation services in the domestic Polish market. Over 60% of production is exported, primarily to Western European and DACH-region countries. Pricing is project-specific and channel-mediated; no direct-to-consumer pricing is published, and the company markets an extended-warranty service program (Tarcza SUNEX). Reported consolidated revenue was PLN 218.3 million in 2025 (down from a 2023 peak of PLN 315.7 million), with operating losses of PLN 15-18 million in each of 2024 and 2025 and a 70% total-debt ratio on a consolidated basis.

Recent strategic activity centers on DACH-region expansion via acquisitions (SA-Energietechnik GmbH in Austria, 2023; Krobath pledges, 2025; a German installation company, 2024), capacity expansion through a revitalized historic production hall and additional Racibórz real estate, and continued access to EU structural funds (POIR, FENG, RPSL, NCBiR) for R&D in composite tank technology. Customer segments include residential and small commercial end users, large commercial/institutional buyers, government/municipal procurement, and a primary installer-distributor channel across Western Europe, with Mitsubishi Corporation as a key technology supplier for compressor components.

Name

Sunex Sa

Legal name

SUNEX S.A.

Website

https://sunex.pl

Company type

Public

Founded year

2002

Operating status

Operating

Headcount range

11–50 employees

Short description

Sunex S.A. is a Racibórz, Poland-based manufacturer founded in 2002 that designs and produces heat pumps, flat-plate solar collectors, DHW tanks, hydraulic modules, and hybrid heating systems, selling primarily through certified installer networks across Western Europe (over 60% of production exported).

Ownership category

akta.pro rank

Product category

Renewable Energy Equipment

NAICS

Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585)

akta.pro primary industry

Heat Exchangers & Thermal Transfer Equipment (IMAHAKAC)

akta.pro secondary industry

Solar Mounting, Racking, Trackers & Structural BOS Manufacturing (EUAMAHAC)

Keywords

• Heat pump manufacturing
• Solar thermal collectors
• Renewable heating systems
• Domestic hot water tanks
• Hybrid energy systems

Headquarters

HQ city

Racibórz

HQ country

Poland

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Hardware product sales: Sunex generates the vast majority of revenue through the sale of manufactured hardware products including heat pumps, solar collectors, photovoltaic mounting systems, tanks, hydraulic groups, and accessories. Products are sold through distributor/installer networks and directly to enterprise customers. The company operates on a project and repeat-order basis.
2. Contract manufacturing / machining services: Sunex offers sheet metal processing services (bending, cutting, punching, forming, marking, perforating) using CNC machines (Euromac, Cidan, Durma) to third-party customers, providing an additional revenue stream from manufacturing capabilities.
3. Installation and project services: The company provides complete installation services including professional design, mounting, and commissioning of heating systems, often combined with EU subsidy application assistance, representing a services component of revenue.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

Sunex S.A. manufactures and sells renewable energy heating equipment including air-to-water heat pumps (Nexus and GELBI series), flat plate and vacuum tube solar collectors, domestic hot water storage tanks, photovoltaic modules, hydraulic pump groups, and factory-configured hybrid systems combining heat pumps with solar thermal collectors. The company offers complete in-house manufactured OZE (renewable energy) product ranges sold primarily through installer and distributor networks across Poland and Western Europe, with over 60% of production exported.

Product overview

SUNEX S.A. is a leading manufacturer of renewable energy solutions based in Racibórz, Poland, founded in 2002 and listed on the Warsaw Stock Exchange. The company's product portfolio is organized into several interconnected categories: (1) Heat Pumps — covering domestic hot water heat pumps (GELBI PRO, DROPS PRO, GELBI 4.1/4.2, DROPS 4.1/4.2) and central heating/DHW heat pumps (Nexus S EVI, Nexus M EVI, Nexus M Pro); (2) Solar Thermal — including flat plate collectors (SX AL, NX, BASICX 2C/4C, AMP, AMX) and vacuum tube collectors (HP); (3) Hybrid Systems — combining Nexus M Pro heat pumps with HYDRATOWER hydraulic modules and AMX solar collectors; (4) Storage Tanks — encompassing DHW heaters (FISH S1/S2/S8/S15/S16), UV-disinfection tanks, buffer tanks (FISH S4/S5/S11), and hygienic tanks (Fish S 9P); (5) Accessories & Supporting Products — including solar pump groups (GPSN RKC), heating pump groups (HYDRA GPO T), hydraulic couplers/distributors, expansion vessels, PV modules, solar controllers (LOGO PWM), and PCMX phase-change heat accumulators. The company also provides metal processing services and a consumer protection program (Tarcza SUNEX). Over 60% of production is exported, primarily to Western Europe.

Differentiator

Problem solved

Functional benefit

Products and services

• Nexus S EVI Heat Pump Inverter-driven split-type air/water heat pump with stepless capacity regulation compressor and brushless fan with variable speed control, for central heating and domestic hot water preparation in residential and small commercial buildings.
• Nexus M EVI Heat Pump Modern monoblock air/water heat pump using EVI (Enhanced Vapor Injection) technology for high efficiency, suitable for both new construction and modernized buildings.
• Nexus M Pro Heat Pump Innovative monoblock heat pump with natural R290 refrigerant and inverter Mitsubishi Scroll compressor, achieving A+++ energy class at W35, used for heating, cooling, and domestic hot water preparation with COP of 4.47-5.20 at A7/W35 conditions.
• GELBI 4.1 DHW Heat Pump High-efficiency compact heat pump for domestic hot water preparation, compatible with nearly any new or existing tank, equipped with rotary compressor, EBM PAPST fan, and Wilo circulator pump, with COP of 3.22-4.33.
• GELBI 4.2 DHW Heat Pump High-efficiency compact heat pump for domestic hot water preparation, similar to GELBI 4.1, compatible with various tank types for residential applications.
• GELBI PRO DHW Heat Pump New-generation domestic hot water heat pump with natural refrigerant, higher COP, and quieter operation compared to the GELBI 4 series.
• DROPS 4.1 DHW Heat Pump High-efficiency compact heat pump for domestic hot water preparation, designed for easy connection to almost any new or existing water tank.
• DROPS PRO DHW Heat Pump New-generation domestic hot water heat pump with improved efficiency, natural refrigerant, and quieter operation.
• Kolektory płaskie SX AL Flat Plate Solar Collector Flat plate solar collector with aluminum frame manufactured from a single profile without corner welds, featuring a blue-black absorber with unique harf absorber construction increasing heat transfer surface sevenfold, Solar Keymark certified.
• Kolektory płaskie AMX Flat Plate Solar Collector Flat plate solar collector with high operational efficiency in both summer and winter seasons, Solar Keymark certified, designed for integration with heat pump installations.
• Kolektory rurowo-próżniowe HP Vacuum Tube Solar Collector Heat pipe vacuum tube solar collectors for solar thermal energy conversion in residential and commercial applications.
• Nexus M Pro + HYDRATOWER Basic (1W) Hybrid System Hybrid system combining the Nexus M Pro monoblock heat pump with a HYDRATOWER Basic hydraulic module featuring a single-coil domestic hot water tank (210L DHW / 65L buffer), providing a complete boiler room solution.
• Nexus M Pro + HYDRATOWER Hybrid (2W) + AMX 2.0 Hybrid System Complete hybrid system combining the Nexus M Pro heat pump, HYDRATOWER Hybrid with dual-coil tank, and 2x AMX 2.0 flat plate solar collectors for integrated heating and domestic hot water.
• FISH Series Storage Tanks Domestic hot water storage tanks and buffer tanks available in multiple configurations: FISH S1/S2 (solar, 150-1500L), FISH S4/S5/S11 (buffer tanks), FISH S8 (without coil), FISH S15/S16 (heat pump systems, 200-500L), and Fish S 9P (hygienic tanks, 500-1500L), with enamel coating and magnesium anode protection.
• Zasobnik z dezynfekcją UV (UV-C Disinfection Tank) Domestic hot water storage tank equipped with UV-C 254nm disinfection system that eliminates microorganisms and prevents their multiplication, particularly suited for heat pump installations where high temperatures cannot be achieved.
• PCMX PCM Heat Accumulator Phase change material (PCM) heat accumulator enabling storage of thermal energy through material phase transitions for renewable heating systems.
• Moduły PV Photovoltaic Modules Photovoltaic modules for solar electricity generation, part of the photovoltaic mounting system product line offered by Sunex.
• GPSN RKC Solar Pump Group Solar pump group equipped with energy-efficient Wilo Yonos Para RKC electronic pump, featuring ball valves with check valves and thermometers, rotameter, air separator, and safety group.
• HYDRA GPO T Heating Pump Group Two-circuit pump group with thermostatic mixing valve for automatic temperature regulation in floor heating systems, equipped with energy-efficient electronic pump.
• Sprzęgło-rozdzielacz (Hydraulic Coupler-Distributor) Combined hydraulic coupling and distributor that simultaneously separates the heat source circuit from heat consumer circuits and ensures balanced supply.
• Naczynia przeponowe (Expansion Vessels) Pressure expansion vessels for closed solar and heating system installations, available in capacities from 18 to 600 liters.
• LOGO PWM Solar Installation Controller Differential temperature controller for solar installations that manages system operation by controlling the circulation pump based on temperature differences.
• Installation and Project Services Complete heating system installation services including professional design, mounting, and commissioning of heat pump, solar thermal, and hybrid systems, often combined with EU subsidy application assistance for residential and commercial customers.
• Sheet Metal Processing Services Contract sheet metal processing services (bending, cutting, punching, forming, marking, perforating) using CNC machines (Euromac, Cidan, Durma) provided to third-party customers.
• Tarcza SUNEX Consumer Protection Program Consumer protection program extending warranty, providing comprehensive service support, maintenance reminders, diagnostics, and spare parts replacement for SUNEX products beyond the standard warranty period.

Quantifiable outcome

• Heat pump COP of 4.47–5.20 (NEXUS M PRO at A7/W35 conditions)
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Four partnerships are on record, tiered major and core.

• Krobath (Austria)majorStrategic or Co-development Partner · 1 January 2025Sunex established pledges on shares in the Austrian company Krobath in 2025, indicating a significant equity investment or acquisition in this Austrian entity as part of the company's DACH region expansion strategy.
• NCBiR (National Centre for Research and Development)coreStrategic or Co-development Partner · 1 July 2024NCBiR selected Sunex's project for development of composite DHW tanks for heating installations for government co-financing. The project 'Wytwarzanie zbiorników kompozytowych CWU w instalacjach grzewczych' was selected for funding. A formal financing agreement was signed in August 2024.
• Mitsubishi Corporation (compressor supplier)coreTechnology or Integration · 22 April 2024Mitsubishi supplies scroll compressors used in the NEXUS M PRO and other heat pump models. The company specifically markets its inverter-driven heat pumps as featuring 'sprężarka inwerterowa (Mitsubishi typu Scroll)', making Mitsubishi a key technology component partner for core product functionality.
• SA-Energietechnik GmbH (Austria)coreStrategic or Co-development Partner · 20 January 2023Sunex acquired the Austrian company SA-Energietechnik GmbH in January 2023, marking its first international acquisition. The company specializes in installation services in the DACH region. Information regarding ownership stakes in this Austrian entity was disclosed in May 2026.

Scale indicators9 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Stiebel Eltron: German-headquartered specialist manufacturer of heat pumps, DHW heating and renewable heating solutions for residential and commercial markets across Europe. Directly comparable in product mix (heat pumps + solar thermal + DHW storage) and European installer-channel go-to-market, though at substantially larger scale.
• Hewalex: Polish manufacturer of solar thermal collectors, heat pump systems and DHW tanks, headquartered in the same regional market as Sunex. Closely comparable mid-sized Polish competitor with overlapping solar-collector and hybrid-system portfolios and overlapping Polish installer channels.
• Galmet: Polish manufacturer of DHW tanks, buffer tanks, heat-pump cylinders and solar-storage solutions. Comparable in the storage-tank and renewable-heating-equipment segments where Sunex's FISH-series tanks and heat-pump-compatible cylinders compete.
• Solvis: German manufacturer of complete heating systems combining condensing-boiler technology, solar thermal, heat pumps and hybrid energy management. Direct competitor in the integrated-system / hybrid-heating segment where Sunex's NEXUS + HYDRATOWER + AMX bundles compete.

Broad incumbents

• Vaillant Group: One of Europe's largest heating technology groups (Vaillant, Saunier Duval, AWB), offering heat pumps, gas condensing boilers, solar thermal and hybrid systems through installer networks. Overlaps with Sunex's heat-pump and solar-thermal portfolio but operates as a multi-brand incumbent with significantly greater scale and R&D resources.
• Viessmann: German family-owned heating, industrial and refrigeration systems manufacturer with a broad portfolio spanning heat pumps, solar thermal, fuel cells and digital heating services. Direct product overlap with Sunex's heat-pump and collector lines, distributed via European installer channels at much larger scale.
• NIBE Industrier: Swedish-listed manufacturer of climate and heating solutions including air-source, ground-source and exhaust-air heat pumps. A closely comparable business model combining residential heating equipment, energy efficiency and European installer-channel distribution, but operating at a materially larger scale following multiple acquisitions.
• Bosch Thermotechnology: Division of Bosch offering heating and hot-water solutions (heat pumps, condensing boilers, solar thermal under Bosch, Buderus, Junkers brands). Comparable product range and European installer channel, distributed through the deep resources of the broader Bosch group.
• Daikin: Global leader in HVAC and a leading heat-pump manufacturer with a strong European push (Daikin Altherma). Direct competitor in the air-to-water monoblock and split heat-pump segment where Sunex's NEXUS M PRO competes, but operating with vastly greater R&D, manufacturing scale and brand recognition.

Regional players

• Weishaupt: German family-owned manufacturer of burners, condensing boilers, heat pumps and solar systems distributed through a regional installer and service network. Comparable product overlap in heat pumps and renewable heating equipment, primarily serving the German-speaking market where Sunex is actively expanding via acquisitions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/SUNEX_SA
• Facebookfacebook.com/SUNEXSpolkaAkcyjna

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 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 Sunex Sa