What Olvondo Technology does

Olvondo Technology AS is a Norwegian private clean-energy technology company founded in 2016 and headquartered in Holmestrand. The company develops, sells, and operates the HighLift, a Very High Temperature Heat Pump (VHTHP) based on Stirling cycle technology that recycles low-temperature waste heat to produce industrial process steam at temperatures up to 200°C, a capability the company claims outperforms any other commercially available technology. The system is positioned as an all-electric alternative to fossil-fuel boilers for industrial process heating, targeting manufacturing customers with decarbonization and energy-efficiency mandates.

Olvondo generates revenue primarily through direct hardware sales of the HighLift system to industrial manufacturers, supplemented by a licensing/distribution arrangement with Tetra Pak that places HighLift by Olvondo™ within Tetra Pak's global Factory Sustainable Solutions portfolio for food and beverage manufacturers. Go-to-market combines direct enterprise sales (evidenced by site visits such as the FrieslandCampina Maasdam plant, which hosted over 20 industry representatives) with channel-led distribution via Tetra Pak, supported by event-driven demand generation at venues including eHeat Ireland 2024, ECOS2024, Industrial Heat & Power 2024, and Veolia's TradeUp!. Confirmed deployments include FrieslandCampina's dairy plant in the Netherlands and AstraZeneca's pharmaceutical facilities in Gothenburg, Sweden; pricing is project-specific and not publicly disclosed.

The firm maintains an ongoing R&D collaboration with Åbo Akademi University, producing published research on HighLift performance, environmental impact, life cycle assessment, and signal analysis for predictive maintenance. Public-sector support comes from Norwegian agencies including Innovasjon Norge, Enova, and Regional Forskningsfond (Vestfold), while technology and certification partners such as ABB and DNV GL support system integration and quality assurance. With 11-50 employees, the company is privately held, expanding its domestic footprint with a second office on Norway's western coast, and broadening its operating presence across Ireland, the Netherlands, Sweden, Finland, and Greece.

Name

Olvondo Technology

Legal name

Olvondo Technology AS

Website

https://olvondotech.no

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Olvondo Technology AS is a Norwegian clean-energy firm that develops and sells the HighLift, a Stirling cycle-based very high temperature heat pump producing steam up to 200°C from low-grade waste heat, serving industrial manufacturers in food and beverage and pharmaceuticals.

Ownership category

akta.pro rank

Product category

Industrial Heat Pumps

NAICS

Heating Equipment (except Warm Air Furnaces) Manufacturing (333414), Power Boiler and Heat Exchanger Manufacturing (33241)

SIC

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

akta.pro primary industry

High-Temperature Process Heat Electrification (E-Boilers, E-Furnaces, Induction, Plasma) (EUABAJAA)

akta.pro secondary industries

Pump & Compressor Packages (Skids, Booster Sets) (IMAHANAG), Cooling, Water/Steam Cycle & Balance-of-Plant Retrofits (Condensers, Cooling Towers) (EUAEALAK)

Keywords

• Industrial heat pumps
• High temperature heat pumps
• Waste heat recovery
• Industrial steam generation
• Process heat decarbonisation

Headquarters

HQ city

Holmestrand

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. HighLift Heat Pump Sales: Sale of industrial HighLift heat pump systems to manufacturing facilities for process heat generation and waste heat recovery applications.
2. Tetra Pak Distribution: Partnership with Tetra Pak for global distribution through their Factory Sustainable Solutions portfolio, with Tetra Pak offering HighLift by Olvondo™ to food and beverage manufacturers worldwide.

Go-to-market motion3 records

Distribution channels2 records

Marketing channels5 records

Core offering

Olvondo Technology develops, manufactures, and sells the HighLift, a Stirling cycle-based Very High Temperature Heat Pump (VHTHP) that recycles low-temperature waste heat to deliver industrial process heat and steam at temperatures up to 200°C. The system is sold as an all-electric alternative to fossil-fuel boilers for industrial manufacturers, with global distribution supported through a partnership with Tetra Pak.

Product overview

Olvondo Technology offers a single unified product: the HighLift heat pump, which is a Very High Temperature Heat Pump (VHTHP) technology that recycles low-temperature waste heat to produce high-value industrial process heat and steam at temperatures up to 200°C. The company positions this as an all-electric alternative to traditional fossil-fuel boilers, enabling industries to reduce emissions, improve energy efficiency, and lower long-term operating costs.

Differentiator

Problem solved

Functional benefit

Brands

• HighLift: Award-winning very high temperature heat pump (VHTHP) capable of delivering steam at temperatures up to 200°C by recycling low-temperature waste heat. Also marketed as 'HighLift by Olvondo' or 'HighLift by Olvondo™' through the Tetra Pak partnership.

Products and services

• HighLift Heat Pump An industrial-scale Very High Temperature Heat Pump using Stirling cycle technology that recycles low-temperature waste heat to produce process steam up to 200°C. Sold to industrial manufacturers, particularly in food and beverage and pharmaceuticals, as an all-electric alternative to fossil-fuel boilers. Distributed globally through direct enterprise sales and via Tetra Pak's Factory Sustainable Solutions portfolio.

Quantifiable outcome

• Steam temperatures up to 200°C - outperforming any other commercially available technology
• +2 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

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

• Tetra PakcoreChannel Partner/ Reseller/ DistributorStrategic partnership where Tetra Pak offers HighLift by Olvondo™ as part of its Factory Sustainable Solutions portfolio. The collaboration aims to accelerate decarbonisation of industrial heat in the global food and beverage sector, combining Olvondo's heat pump technology with Tetra Pak's global reach and integration expertise.
• Åbo Akademi UniversitycoreStrategic or Co-development PartnerAcademic research collaboration supporting the continued development and optimisation of heat pump technology. Joint research presented at ECOS2024 Conference on HighLift performance and predictive analysis, with published studies on environmental impact and life cycle assessments.
• FrieslandCampinaflagshipStrategic or Co-development PartnerFlagship customer installation at Maasdam plant in the Netherlands where HighLift heat pump is in operation, repurposing waste heat to deliver high-temperature heat. Site hosts industry visits demonstrating the technology.
• AstraZenecaflagshipStrategic or Co-development PartnerInstallation at AstraZeneca facilities in Gothenburg for environmentally friendly steam generation. Documented in academic paper co-authored by Olvondo CTO and AstraZeneca researchers.
• Regional ForskningsfondminorOthersRegional research fund supporting innovation and research activities in Vestfold region.
• Innovasjon NorgeminorOthersNorwegian innovation agency supporting Norwegian companies with international growth.
• EnovaminorOthersNorwegian state-owned enterprise promoting environmentally friendly production and consumption of energy.
• DNV GLminorOthersQuality assurance and risk management partner for industrial installations.

Scale indicators3 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Siemens Energy: Siemens Energy offers industrial-scale heat pump solutions (e.g., the SHP series) for process steam generation. It is a broad incumbent with deep R&D resources and global service reach, directly competing with Olvondo in industrial electrification.
• MAN Energy Solutions: MAN Energy Solutions manufactures industrial-scale heat pumps based on its heritage in large reciprocating compressors, serving chemical, refining, and district heating customers. Comparable to Olvondo in targeting high-temperature industrial process heat decarbonization.
• Mitsubishi Heavy Industries Heat Pump: Mitsubishi Heavy Industries produces commercial and industrial heat pumps under its Etaclin and broader HVAC portfolio. Comparable to Olvondo as a large OEM with high-temperature heat pump capability, though operating at much greater scale and across broader markets.
• ENGIE Refrigeration: ENGIE Refrigeration, part of ENGIE, supplies industrial heat pumps and chillers for process and district heating applications. Comparable to Olvondo in addressing industrial decarbonization through heat pumps, with the backing of a major utility group.
• Bosch Industriekessel: Bosch Industriekessel manufactures industrial boilers and increasingly heat pump-based steam systems, targeting food, beverage, and chemical producers. Comparable as a large incumbent competing for the same industrial steam-decarbonization opportunity as Olvondo.

Direct peers

• Star Refrigeration: Star Refrigeration is a UK-based industrial refrigeration and heat pump specialist that has developed high-temperature heat pumps for process industries. Closely comparable to Olvondo as a focused industrial heat pump player targeting process heat applications.
• Mayekawa (Mycom): Mayekawa (MYCOM) is a Japanese industrial refrigeration and heat pump specialist with deep presence in food, dairy, and process industries — directly overlapping with Olvondo's F&B target segment and process-heat positioning.

Emerging players

• Kobelco (Kobe Steel) Compressors / Kobe Steel Heat Pump: Kobe Steel has commercialized high-temperature heat pumps leveraging its compressor heritage, including systems targeting industrial process heat above 150°C. A direct competitor to Olvondo's 200°C positioning, particularly in Asian and European process industries.
• Viking Heat Engines: Viking Heat Engines develops Stirling-cycle-based thermal energy and heat pump technology. Comparable to Olvondo through its use of the Stirling cycle for industrial heat applications, although at a different scale and commercialization stage.

Others

• Tetra Pak (Process Solutions / Industrial): Tetra Pak is both Olvondo's strategic distribution partner and a broader ecosystem player in food and beverage processing. While not a direct heat pump competitor, Tetra Pak's Factory Sustainable Solutions portfolio competes with other decarbonization offerings in the same F&B customer base Olvondo targets.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 Olvondo Technology