HeatMatrix

What HeatMatrix does

HeatMatrix Group BV (founded 2005, based in Nieuwerkerk aan den IJssel / Geldermalsen, Netherlands) develops and delivers plastic heat exchangers for industrial waste-heat recovery from flue gases, baking fumes, and warm air streams. The company supplies a portfolio of turnkey heat-recovery modules—air preheaters (Luchtvoorverwarmer), economisers, condensers, and rooftop industrial heat exchangers (Roofbox)—protected by multiple proprietary inventions, including specialised designs capable of handling corrosive and polluting exhaust gases where conventional metal exchangers are unsuitable. Customers report 5–25% CO2 emissions reductions, energy-consumption reductions of up to 8% (Lubrizol), and boiler-efficiency gains of 4% (Carlsberg), with typical payback periods of 3–5 years.

HeatMatrix operates an enterprise field-sales GTM, engaging industrial customers directly on custom turnkey projects that span design, evaluation of existing flue-gas systems, equipment supply, and installation. Through the BN/HM Group structure, HeatMatrix pairs its heat-recovery engineering with sister company Bos Nieuwerkerk's 50+ years of chimney and flue-gas channel expertise, enabling integrated execution. The company serves food & beverage (primary), bakery, general manufacturing, and chemical industries, with named enterprise customers including Carlsberg and Lubrizol, and monetises via one-off project contracts rather than recurring licensing or subscription revenue.

The business is privately held, has 11–50 employees, raised its last disclosed institutional round from SHIFT Invest in 2014 (~$3.3M), and as of June 2026 announced a physical expansion of its premises. Geographic scope is regional (Europe), with no disclosed activity outside the region. The company also markets a top-of-funnel diagnostic tool, the Warmteterugwinning Scan, to help prospects quantify potential energy savings before committing to a full project engagement.

Name

HeatMatrix

Legal name

Heat Matrix

Website

https://heatmatrixgroup.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

HeatMatrix Group BV is a Netherlands-based industrial engineering firm that designs and delivers turnkey plastic heat-exchanger systems for waste-heat recovery from industrial flue gases, serving enterprise customers across food & beverage, bakery, manufacturing, and chemical sectors across Europe.

Ownership category

akta.pro rank

Product category

Industrial Heat Recovery Equipment

NAICS

Power Boiler and Heat Exchanger Manufacturing (33241), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341), Industrial Process Furnace and Oven Manufacturing (333994)

SIC

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

akta.pro primary industry

Waste Heat Recovery & Heat Integration (HRSG/ORC, Pinch Analysis, Heat Exchangers) (EUABAJAF)

akta.pro secondary industries

Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC), Heat Exchangers & Thermal Transfer Equipment (IMAHAKAC), Heat Exchangers, Coils & Hydronic HVAC Components (IMADANAF)

Keywords

• Plastic heat exchangers
• Industrial waste heat recovery
• Flue gas heat recovery
• Turnkey industrial heat recovery
• Industrial energy efficiency

Headquarters

HQ city

Geldermalsen

HQ country

Netherlands

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Turnkey Heat Recovery Systems: Complete design, supply, and installation of industrial heat recovery systems. Revenue is generated through custom project-based contracts that include evaluation of existing systems, custom engineering, equipment supply, and implementation. The company collaborates with sister company Bos Nieuwerkerk for chimney and flue gas channel work, providing comprehensive turnkey solutions. Return on investment is typically achieved within 3-5 years through energy savings.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

HeatMatrix designs, develops, and installs plastic heat exchangers that recover waste heat from industrial flue gases, baking fumes, and warm air streams. The company delivers turnkey heat recovery systems to industrial clients, evaluating existing flue gas infrastructure, engineering custom solutions, supplying proprietary heat exchanger modules (air preheaters, economisers, condensors, rooftop units), and integrating them on-site, typically achieving 3-5 year payback periods and 5-25% CO2 emission reductions.

Product overview

HeatMatrix is a turnkey industrial heat recovery company offering a comprehensive portfolio of heat exchangers and integrated systems. The core offering consists of Warmteterugwinning (Heat Recovery Systems) as the main service, complemented by a range of specialized heat exchanger modules: Luchtvoorverwarmer (Air Preheater), Economiser, Condensor, and Roofbox. The company also provides a Warmteterugwinning Scan tool for quick savings assessments. These products work together as a complete heat recovery solution, with the company evaluating existing flue gas systems and implementing customized turnkey solutions. HeatMatrix collaborates with sister company Bos Nieuwerkerk (with over 50 years of experience in chimney and flue gas systems) to ensure proper integration with existing infrastructure.

Differentiator

Problem solved

Functional benefit

Products and services

• Warmteterugwinning (Heat Recovery Systems) Turnkey industrial heat recovery systems that capture waste heat from exhaust gases, flue gases, and process air streams to reduce energy costs and CO2 emissions. The company evaluates existing flue gas systems and implements customized heat recovery solutions with typical payback periods of 3 to 5 years, aimed at industrial facilities across food and beverage, bakery, manufacturing, and chemical sectors.
• Luchtvoorverwarmer (Air Preheater) Industrial heat exchanger that preheats incoming air using waste heat from exhaust streams, improving boiler and heating efficiency for industrial process installations.
• Economiser Industrial heat exchanger that recovers waste heat from flue gases to preheat boiler feedwater, increasing overall boiler and process system efficiency.
• Condensor Industrial heat exchanger that condenses exhaust steam and vapors to recover latent heat, commonly used in process applications where vapor streams are present.
• Roofbox (Industrial Heat Exchanger) Compact industrial heat exchanger designed for installation on rooftops of industrial facilities, recovering heat from exhaust streams where ground-level installation is impractical.
• Warmteterugwinning Scan Quick assessment offering that provides rapid insight into potential energy savings from heat recovery implementations for industrial facilities, enabling prospective customers to scope the savings opportunity before committing to a full turnkey project.

Quantifiable outcome

• 5-25% CO2 emission reduction achievable through heat recovery
• +4 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• Bos NieuwerkerkcoreStrategic or Co-development PartnerBos Nieuwerkerk is HeatMatrix's sister company within the BN/HM Group, bringing over 50 years of experience in turnkey chimney and flue gas channel systems. This partnership enables comprehensive solutions where HeatMatrix provides heat recovery expertise while Bos Nieuwerkerk handles chimney and flue gas infrastructure. The collaboration ensures that all impacts of heat recovery on existing flue gas systems are properly evaluated and all necessary modifications are executed carefully.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Vahterus: Finnish manufacturer of plate heat exchangers serving industrial energy recovery, chemical, and refrigeration markets. Comparable technology stack and industrial heat recovery use cases to HeatMatrix's product family.
• Borsig: German industrial group with heat exchanger and process plant equipment manufacturing, serving chemical, petrochemical, and energy customers. Comparable on industrial process heat transfer products and on serving demanding chemical and corrosive applications.
• Enertime: French company developing ORC and waste heat recovery solutions for industrial sites and energy-from-waste. Comparable industrial decarbonization value proposition and customer segment to HeatMatrix's waste heat recovery offering.
• HRS Heat Exchangers: Specializes in heat exchangers for hygienic, corrosive, and industrial applications — including designs suited to aggressive fluids and waste heat. Closely comparable niche positioning to HeatMatrix, particularly around specialty/corrosion-resistant heat transfer.
• API Heat Transfer: Specialist manufacturer of industrial heat exchangers (plate, shell-and-tube, air-cooled) for chemical, petrochemical, and process industries. Comparable product portfolio and customer base to HeatMatrix, with a similar focus on thermal efficiency in industrial processes.
• Bos Nieuwerkerk: HeatMatrix's sister company within the BN/HM Group, specialized in turnkey chimney and flue gas channels with 50+ years of experience. Adjacent rather than overlapping on heat recovery, but tightly integrated with HeatMatrix's turnkey delivery and relevant as the closest comparable Dutch industrial flue gas specialist.
• Climeon: Swedish provider of waste heat-to-power modules for industrial and maritime applications. Comparable end-customer value proposition of monetizing residual heat, though Climeon focuses on power generation while HeatMatrix focuses on thermal reuse.

Broad incumbents

• Alfa Laval: Global leader in heat transfer, separation, and fluid handling, with a major industrial heat exchanger business. Comparable on the core heat exchanger product category and energy-efficiency value proposition that HeatMatrix also sells, though Alfa Laval spans many more verticals and geographies.
• SPX Heat Transfer (SPX Technologies): Designs and manufactures heat transfer equipment for industrial and HVAC applications globally. Overlaps with HeatMatrix's industrial heat exchanger offerings and serves similar process-industry customers seeking energy recovery.
• Kelvion: One of the world's largest manufacturers of industrial heat exchangers (shell-and-tube, plate, finned-tube) serving power, chemical, oil & gas, and HVAC markets. Directly comparable to HeatMatrix's heat exchanger portfolio, but at a much larger scale and broader product breadth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/1202979
• Xx.com/heatmatrix
• Facebookfacebook.com/209653135756182

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds2 records

Investors2 records

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 HeatMatrix