MasterTherm
MasterTherm manufactures air source and ground source heat pumps using R290 refrigerant and proprietary inverter control technology for residential, commercial, and industrial customers, exporting over 70% of production from its Czech Republic facility to Western Europe via its UK distributor Thermal Earth.
- Company typePrivate
- Founded1994
- HeadquartersAmmanford, United Kingdom
- Headcount11–50
- GTM typeB2B and B2C
- OfferingHardware or Manufacturing
What MasterTherm does
MasterTherm designs, manufactures, and supplies air source and ground source heat pumps for residential, commercial, and industrial customers. Its product range covers the BoxAir Inverter P air-to-water line (residential, operating from -20°C to +40°C), the AquaMaster Inverter P ground-to-water line (residential and commercial), the AquaMaster Inverter P Commercial variant with cascade capability up to 1,100 kW, and the AquaMaster ZHX industrial heat-recovery unit achieving outlet water temperatures up to 82°C. The portfolio is built on R290 (propane) refrigerant, inverter-controlled compressors, electronic expansion valves (EEV), the proprietary pGDx touchscreen terminal, and internally developed equithermal control software. Heat pumps are monitored and controlled remotely through the MasterTherm Online platform, which integrates with photovoltaic inverters, predicts electricity spot prices, and supports Smart Grid communication.
MasterTherm manufactures entirely in-house at a single facility in the Czech Republic and has been producing heat pumps since 1994 — over 30 years. More than 70% of production is exported, primarily to Western European markets including the United Kingdom, Ireland, the Netherlands, Belgium, and Switzerland. In the UK the company sells exclusively through Thermal Earth, an MCS-certified installer based in Ammanford, Wales, which handles system design, installation, commissioning, after-sales support, and Boiler Upgrade Scheme grant applications. The company cites 10,000+ customers worldwide and 3,500+ UK installations through Thermal Earth since 2006.
Revenue is generated primarily through hardware sales (one-time unit purchases with installation), supplemented by professional installation services delivered via the certified installer network, and an emerging recurring layer from the MasterTherm Online remote-monitoring platform. Customer segments are split across residential homeowners (primary), commercial and industrial facilities (offices, schools, sports facilities, warehouses), industrial process operators requiring high-temperature or waste-heat-recovery solutions, and social housing/government projects. Pricing is unit-based and high-ticket, with typical ASHP installations £7,500–£15,000 and GSHP installations £18,000–£45,000 before UK government grants.
MasterTherm firmographics
Firmographics- Name
- MasterTherm
- Legal name
- MasterTherm
- Website
- https://mastertherm.co.uk
- Company type
- Private
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- MasterTherm manufactures air source and ground source heat pumps using R290 refrigerant and proprietary inverter control technology for residential, commercial, and industrial customers, exporting over 70% of production from its Czech Republic facility to Western Europe via its UK distributor Thermal Earth.
- Ownership category
- akta.pro rank
MasterTherm industry classification
Industry- Product category
- Heat Pumps
- NAICS
- Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Power Boiler and Heat Exchanger Manufacturing (332410)
- SIC
- Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585)
- akta.pro primary industry
- Heat Pumps (Air/Water/Ground Source) (IMAHAKAF)
- akta.pro secondary industries
- Industrial Heat Pumps & Mechanical Vapor Recompression (Low–Mid Temp Heat) (EUABAJAB), Boilers, Furnaces & Process Heating Equipment (IMAHAKAD)
Keywords
Where MasterTherm is headquartered
LocationHeadquarters
- HQ city
- Ammanford
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
MasterTherm business model
Business model- GTM type
- B2B and B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure
Revenue model
- Heat Pump Equipment Sales: Sale of heat pump units including BoxAir (air source), AquaMaster (ground source), commercial models, and heat recovery systems. Products are manufactured in the Czech Republic and sold through distributors and direct exports.
- Professional Installation Services: Through certified installer network (Thermal Earth in UK), providing system design, installation, commissioning, and after-sales support services.
- Remote Monitoring Services: MasterTherm Online platform providing remote heat pump control and monitoring. Platform integrates with photovoltaic systems and predicts electricity spot prices for optimized operation.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | One time/ perpetual license | Air Source Heat Pump Installation (ASHP) |
| Unit Pricing | One time/ perpetual license | Ground Source Heat Pump Installation (GSHP) |
| Unit Pricing | One time/ perpetual license | Commercial/Industrial Heat Pumps |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
MasterTherm product offering
Product offeringCore offering
MasterTherm designs, develops and manufactures its own complete range of air source and ground source heat pumps for residential, commercial and industrial applications. Units cover heating, cooling and domestic hot water production, are built around R290 refrigerant with inverter compressors and electronic expansion valves, and are managed via the proprietary MasterTherm Online remote control platform. The company manufactures in the Czech Republic and distributes in the UK through Thermal Earth, exporting more than 70% of output to western Europe.
Product overview
MasterTherm is a pioneering manufacturer of heat pumps since 1994, offering a complete range of heating and cooling solutions. The product portfolio includes: BoxAir Inverter P (air source heat pumps for residential), AquaMaster Inverter P (ground source heat pumps for residential and commercial), AquaMaster Inverter P Commercial (commercial/industrial scale units up to 1100 kW cascade), and AquaMaster ZHX (industrial heat recovery systems up to 82°C). All products are controlled through the Master Therm Online platform providing remote monitoring, smart grid integration, and photovoltaic/electricity spot price optimization.
Differentiator
Problem solved
Functional benefit
Brands
- BoxAir: Air source heat pump product line for residential buildings
- AquaMaster
- AquaMaster Inverter P Commercial
- AquaMaster ZHX
- MasterTherm Online
Products and services
- BoxAir Inverter P Air-to-water heat pump for residential buildings using R290 refrigerant, inverter compressors and EEV technology, operating from -20°C to +40°C; designed for detached, semi-detached and terrace homes and compatible with radiators and underfloor heating.
- AquaMaster Inverter P Ground-to-water heat pump for domestic and commercial properties using R290 refrigerant, with compact design, integrated source and heating side circulation pumps, and seasonal efficiencies up to 5.5x conventional electric boilers.
- AquaMaster Inverter P Commercial Compact ground-to-water heat pump for commercial and industrial buildings using R290 refrigerant, delivering up to 70 kW per unit with MasterLAN cascade scaling to 1,100 kW; suitable for office buildings, schools, sports facilities and industrial warehouses.
- AquaMaster ZHX
Quantifiable outcome
- SCOP up to 5.5 for ground source systems (5.5x more efficient than electric boiler)
- +6 more outcomes
Companies that use MasterTherm
Customer profileNamed customers10 records
Segments4 records
Ideal customer profiles4 records
MasterTherm technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
AI capability2 records
Feature7 records
MasterTherm partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Thermal EarthcoreMasterTherm's exclusive UK distributor and MCS-certified installer. Thermal Earth has been introducing heat pumps to Wales since 2006, operating from Ammanford, Carmarthenshire. They provide complete system design, professional installation, and after-sales support, handling Boiler Upgrade Scheme applications on behalf of customers.
Scale indicators6 records
Expansion highlights5 records
MasterTherm competitors and assessment
Company assessmentBroad incumbents
- Viessmann: German manufacturer of Vitocal air source and ground source heat pumps for residential and commercial heating. Direct product overlap; broader HVAC and renewables portfolio.
- Trane Technologies: Global HVAC manufacturer with commercial-grade heat pump and chillers serving industrial and commercial customers, including high-temperature applications adjacent to MasterTherm's AquaMaster ZHX industrial offering.
- Daikin: Japanese global HVAC leader offering a comprehensive heat pump lineup (Altherma) across residential and commercial segments. Overlaps with MasterTherm in product category but operates at far greater scale with broader HVAC portfolio beyond heat pumps.
- Bosch Thermotechnology: Bosch's Thermotechnology division sells Compress 3000/7000i AW heat pumps across Europe. Scaled manufacturer with broad HVAC/boiler portfolio; overlaps with MasterTherm in the residential and light commercial heat pump category.
- Vaillant (aroTHERM): German HVAC major with aroTHERM air source and ground source heat pumps sold through UK installer networks. Direct product overlap; broader portfolio including boilers and full HVAC systems positions Vaillant as a broad incumbent.
- Mitsubishi Electric (Ecodan): Mitsubishi Electric's Ecodan range is a major ASHP/GSHP line for European residential and commercial markets. Comparable product category and Western European footprint; represents scaled global competition.
Direct peers
- iDM Energiesysteme: Austrian specialist manufacturer of heat pumps (including industrial-grade units up to high temperatures) for residential, commercial, and district heating. Closely comparable in mid-sized European specialist positioning and high-temperature capability.
- Stiebel Eltron: German-headquartered heat pump specialist offering both air source and ground source units for residential and commercial applications. Comparable as a specialist manufacturer with a European direct/distributor model and strong energy-efficiency focus.
- Kensa Heat Pumps: UK-based manufacturer of ground source heat pumps for residential and small commercial use. Comparable UK-focused specialist footprint with smaller-scale manufacturing and installer-channel distribution model.
- NIBE Energy Systems: Swedish manufacturer of air and ground source heat pumps for residential and commercial use. Closest direct competitor with overlapping product range (ASHPs, GSHPs), Western European distribution, and focus on inverter-driven efficiency — making it the most apples-to-apples comp for MasterTherm.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
MasterTherm social profiles
Digital presenceMasterTherm financial estimates
Financial estimateRevenue estimate
Valuation estimate
MasterTherm leadership team
Management profileNumber of profiles
MasterTherm funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MasterTherm M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MasterTherm
What does MasterTherm do?
MasterTherm designs, develops and manufactures its own complete range of air source and ground source heat pumps for residential, commercial and industrial applications. Units cover heating, cooling and domestic hot water production, are built around R290 refrigerant with inverter compressors and electronic expansion valves, and are managed via the proprietary MasterTherm Online remote control platform. The company manufactures in the Czech Republic and distributes in the UK through Thermal Earth, exporting more than 70% of output to western Europe.
Is MasterTherm a public or private company?
MasterTherm is a private company. It is classified as unknown and is currently operating.
When was MasterTherm founded?
MasterTherm was founded in 1994. It employs 11 to 50 people.
Where is MasterTherm based?
MasterTherm is headquartered in Ammanford, United Kingdom, in the Europe region.
How does MasterTherm make money?
Three revenue lines are on record. Heat Pump Equipment Sales are the primary driver. The others are professional Installation Services and remote Monitoring Services.
Who are MasterTherm's main competitors?
Broad incumbents on record are Viessmann, Trane Technologies, Daikin, Bosch Thermotechnology, Vaillant (aroTHERM) and Mitsubishi Electric (Ecodan). Direct peers are iDM Energiesysteme, Stiebel Eltron, Kensa Heat Pumps and NIBE Energy Systems.
Does MasterTherm have an API?
No public API is recorded for MasterTherm.
What industry is MasterTherm in?
MasterTherm's product category is Heat Pumps. Its primary akta.pro industry code is IMAHAKAF, Heat Pumps (Air/Water/Ground Source), with a secondary code of EUABAJAB, Industrial Heat Pumps & Mechanical Vapor Recompression (Low–Mid Temp Heat). Its NAICS code is 333415 and its SIC code is 3585.