Thermia AB

What Thermia AB does

Thermia AB is a Swedish heat pump manufacturer headquartered in Arvika, Sweden, with over 100 years of corporate history and a pioneering role in heat pump technology since 1973. The company develops and manufactures a comprehensive portfolio spanning air source heat pumps (Athena, iTec XTR, iTec E, Aura), ground source heat pumps (Atlas, Calibra RXT, Calibra E Cool, Calibra E, Legend), and commercial systems (Mega, Mega E, Mega S), with capacities ranging from 2 kW residential units up to 1,400 kW cascade commercial installations. Thermia also sells complementary hot water cylinders, buffer tanks, cooling modules, and the Thermia Online remote monitoring service (with iOS/Android apps), and integrates with building management systems via Modbus. Core technologies include inverter-driven compressors, the proprietary Hot Gas Technology for domestic hot water production, cascade functions supporting up to 16 connected units, passive and active cooling, and the Calibra E's low-GWP R452B refrigerant (628 kg CO2e, less than half of comparable units) which positions the portfolio ahead of 2027 EU F-gas regulations.

Since April 2018, Thermia has operated as a subsidiary of the German Stiebel Eltron Group following its acquisition from Danfoss A/S; the Thermia brand remains the active brand for Stiebel Eltron in the Nordic region. The company sells primarily through a network of authorized and certified installers and regional distributors across the Nordics and at least nine additional European markets (Denmark, Belgium, Spain, Slovenia, Slovakia, Bulgaria, Estonia, Netherlands, and Ireland). Revenue is generated through hardware sales of heat pump systems and accessories, with installation and maintenance services delivered via the partner channel rather than directly. Customer segments split between residential homeowners (primary) and commercial/large building operators such as hotels, schools, logistics centers, and housing associations (also primary), with smaller industrial and architect/specifier channels as secondary segments.

Name

Thermia AB

Legal name

Thermia AB

Website

https://thermia.com

Company type

Private

Founded year

1973

Operating status

Operating

Headcount range

251–500 employees

Short description

Thermia AB is a Swedish manufacturer of geothermal and air source heat pumps serving residential, commercial, and industrial customers across the Nordics and broader Europe. Founded 1923 and a heat pump pioneer since 1973, it operates today as a subsidiary of the Stiebel Eltron Group, distributing through certified installers.

Ownership category

akta.pro rank

Product category

Heat Pumps

NAICS

Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414)

SIC

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

akta.pro primary industry

Heat Pumps (Air/Water/Ground Source) (IMAHAKAF)

akta.pro secondary industry

Heat Exchangers, Coils & Hydronic HVAC Components (IMADANAF)

Keywords

• Heat pump manufacturing
• Ground source heat pumps
• Air source heat pumps
• Geothermal heating systems
• Commercial heat pumps

Headquarters

HQ city

Arvika

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Heat Pump Hardware Sales: Sale of residential, commercial, and industrial heat pumps including air source, ground source, and large commercial units. Revenue from equipment sales with varying capacities from 2kW to 88kW per unit, with cascade systems reaching 1400kW.
2. Thermia Online Service: Subscription-free remote monitoring and control service for heat pumps, available via smartphone apps and desktop. While subscription-free, may include premium support services.
3. Hot Water Cylinders and Accessories: Sales of complementary products including MBH hot water cylinders, WT-S, WT-T, WT-C FC hot water cylinders, WT-V buffer tanks, cooling modules, and fan coil units.
4. Professional Installation Services: Through authorized installer network, providing certified installation, maintenance, and support services for heat pump systems.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels7 records

Core offering

Thermia AB develops and manufactures heat pumps for residential, commercial, and industrial applications, delivering heating, domestic hot water, and cooling from a single system using geothermal (ground source) and aerothermal (air source) renewable energy. The portfolio spans 2 kW residential units (Athena, iTec XTR, iTec E, Aura air source; Atlas, Calibra, Legend ground source) to large commercial systems up to 1,400 kW (Mega series via cascade). Complementary offerings include the Thermia Online subscription-free remote monitoring service, hot water cylinders, buffer tanks, and accessories such as cooling modules and fan coil units.

Product overview

Thermia AB is a Swedish heat pump manufacturer with over 100 years of history (founded 1923) and a pioneer in heat pump technology since 1973. The company operates as part of the Stiebel Eltron Group following acquisition in 2018. Thermia's product portfolio is organized into four main heat pump categories — air source (Thermia Athena, iTec XTR, iTec E, Aura), ground source (Thermia Atlas, Calibra RXT, Calibra E Cool, Calibra E, Legend), and commercial (Thermia Mega, Mega E) — supplemented by a digital service (Thermia Online for remote monitoring and control), a smart pricing tool (Thermia Smart Price), hot water cylinders and buffer tanks (MBH, WT-S, WT-T, WT-C FC, WT-V), and accessories (Cooling Module, Thermia Vent heat recovery unit, Fan Coil Units). Heat pumps deliver heating, domestic hot water, and cooling (both passive and active) from a single device, using geothermal or aerothermal renewable energy with Inverter-driven technology across most models.

Differentiator

Problem solved

Functional benefit

Brands

• Thermia Online: Subscription-free service for remote control and monitoring of Thermia heat pumps via desktop or mobile app.
• Thermia Smart Price
• Thermia Athena
• Thermia iTec
• Thermia Aura
• Thermia Atlas
• Thermia Calibra
• Thermia Legend
• Thermia Mega

Products and services

• Thermia Athena Air source heat pump in Thermia's residential air source product lineup, designed for residential applications drawing heat from outdoor air.
• Thermia iTec XTR Air source heat pump in the Thermia iTec product line for residential applications using outdoor air as the heat source.
• Thermia iTec E Air source heat pump in the Thermia iTec product line for residential applications using outdoor air as the heat source.
• Thermia Aura Air source heat pump in Thermia's residential product lineup for extracting heat from outdoor air.
• Thermia Atlas Thermia Atlas is a ground source heat pump that achieved SCOP 6.0, the highest in the market, drawing heating, cooling, and hot water from the ground for residential and larger installations.
• Thermia Calibra RXT Ground source heat pump in the Thermia Calibra line, designed to draw energy from the ground for residential applications with inverter technology for efficiency.
• Thermia Calibra E Cool Ground source heat pump variant of the Calibra E family providing heating, domestic hot water, and cooling functionality for residential applications.
• Thermia Calibra E Thermia Calibra E is a ground source heat pump launched in February 2021 as the world's greenest heat pump, using R452B refrigerant with a GWP of 628 kg CO2 equivalent (less than half that of equivalent heat pumps) and meeting upcoming EU F-gas regulations. Inverter-driven with heating capacity from 2 to 16 kW.
• Thermia Legend Ground source heat pump in Thermia's residential portfolio, drawing energy from the ground for heating, hot water, and cooling applications.
• Thermia Mega E Commercial heat pump in Thermia's Mega product line, designed for large buildings requiring high-capacity heating, hot water, and cooling from geothermal energy.
• Thermia Mega (Commercial Heat Pump) Geothermal commercial heat pump with capacity up to 1,400 kW via cascade of up to 16 units (Mega XL 21–88 kW, Mega L 14–59 kW, Mega M 11–44 kW, Mega S-E 10–33 kW +5/10/15 kW, Mega S 10–33 kW). Features Inverter technology, SCOP 5.3, Hot Gas Technology for domestic hot water production, passive and active cooling, simultaneous heating and cooling, color touchscreen controller, Thermia Online connectivity, and Modbus-ready BMS integration.
• Thermia Online Subscription-free remote control and monitoring service for Thermia heat pumps accessible via desktop login and smartphone apps (iOS/Android). Provides monitoring, control, and maintenance notifications with diagnostic data accessible to installers.
• Thermia Smart Price Smart pricing feature for Thermia heat pumps, enabling optimization based on electricity price signals.
• MBH Hot Water Cylinder MBH hot water cylinder for domestic hot water storage in Thermia heat pump installations, sold as a complementary product alongside heat pumps.
• WT-S Hot Water Cylinder WT-S hot water cylinder for domestic hot water storage in Thermia heat pump installations.
• WT-T Hot Water Cylinder WT-T hot water cylinder for domestic hot water storage in Thermia heat pump installations.
• WT-C FC Hot Water Cylinder WT-C FC hot water cylinder for domestic hot water storage in Thermia heat pump installations, fan-coil-compatible variant.
• WT-V Buffer Tanks WT-V buffer tanks for thermal energy storage in Thermia heat pump installations.
• Cooling Module Cooling module accessory for Thermia heat pump systems to enable cooling functionality.
• Thermia Vent (Heat Recovery Unit) Thermia Vent heat recovery unit accessory for Thermia heat pump installations, providing ventilation with heat recovery.
• Fan Coil Units Fan coil units for distributing heating or cooling from Thermia heat pump systems into building spaces.

Quantifiable outcome

• 80% energy savings compared to conventional heating systems
• +10 more outcomes

Named customers18 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

Integration2 records

Feature9 records

Partnerships

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

• Stiebel Eltron GroupflagshipStrategic or Co-development Partner · 16 April 2018In April 2018, the Stiebel Eltron Group acquired Thermia (Danfoss Värmepumpar AB) from Danfoss A/S. Thermia operates as part of Stiebel Eltron Group with development and manufacturing continuing in both Holzminden, Germany and Arvika, Sweden. The combination creates synergies through common technical platforms and purchasing activities. There is minimal overlap in product portfolios and geographic strongholds.
• Girod GeotermiacoreChannel Partner/ Reseller/ DistributorOfficial distributor for Thermia products in Spain. Located at Calle Campoamor 14, 28004 Madrid. Won Community of Madrid award as region's best geothermal installer of 2017. Provides certified installation and support services for Thermia heat pumps.
• GeoTherma bvcoreChannel Partner/ Reseller/ DistributorPartner distributor in Belgium (Dutch-speaking region). Provides Thermia products and supports certified installers with periodic training programs. Located at Bleyveldstraat 6, 3320 Hoegaarden, Belgium.
• Ecoterm.beminorChannel Partner/ Reseller/ DistributorChannel partner in Belgium offering Thermia heat pump products and installation services.
• SKODA Motorsport / EVEN ManagementminorGTM or Marketing PartnerMotorsport sponsorship partnership through which Pontus Tidemand represented Thermia, achieving WRC 2 championship in 2017. Partnership provided visibility for the Thermia brand through rally competitions.
• O'Brien Brothers / AshgroveminorChannel Partner/ Reseller/ DistributorCertified installers in Ireland mentioned in case study for new build home installation using Thermia Atec air source heat pump.
• AirwaveminorChannel Partner/ Reseller/ DistributorEstonian HVAC company that installed Baltic Agro Machinery headquarters geothermal system using Thermia Mega heat pumps.
• Belcotec and ClevrminorImplementation/ SI/ Consulting PartnerBelcotec is an HVAC installation company specializing in commercial properties; Clevr serves homeowners and self-builders. Combined expertise resulted in the Willis Building innovation center project using Thermia heat pumps.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• NIBE Group: Swedish heat-pump and HVAC manufacturer with overlapping residential and commercial heat-pump product lines. NIBE is the closest Nordic-headquartered direct competitor to Thermia, sharing channel-based installer distribution and pan-European ambitions.

Broad incumbents

• Daikin Europe: Global HVAC leader with a fast-growing European heat-pump business (Daikin Altherma). Competes head-to-head with Thermia in residential and light-commercial segments and has materially deeper R&D and marketing budgets.
• Carrier Global: Global HVAC manufacturer with commercial and residential heat-pump offerings (Carrier AquaEdge, Toshiba-brand residential heat pumps). Comparable in commercial cascade applications and BMS-integrated solutions.
• Vaillant Group: German heating manufacturer with aroTHERM and geoTHERM heat-pump ranges. Comparable product mix and installer channel model; significantly larger scale and pan-European brand reach.
• Viessmann: German heating, industrial, and refrigeration systems provider with Vitocal air-source and ground-source heat pumps. Direct product overlap and shared installer-led distribution model across European markets.
• Stiebel Eltron: German heat-pump and hot-water manufacturer that owns Thermia following the 2018 acquisition. Operates a broader European portfolio from Holzminden and competes with Thermia on shared technical platforms in overlapping markets.
• Bosch Thermotechnology: Division of Bosch selling residential and commercial heat pumps (e.g., Compress 7000i AW) across Europe. Directly competes with Thermia's air-source and ground-source lines and offers a much larger multi-country distribution footprint.
• Danfoss A/S: Former parent of Thermia (Danfoss Värmepumpar AB until 2018). Still a major HVAC component supplier (compressors, controls) to the heat-pump industry and therefore a structural counterparty and competitor.
• Mitsubishi Electric Europe: Sells Ecodan air-source and ground-source heat pumps across Europe with established installer networks. A direct competitor in residential and commercial heat-pump categories where Thermia also operates.

Emerging players

• LG Energy Solution / LG HVAC: Aggressively expanding European residential heat-pump presence with Therma V monobloc and split models. Less brand depth in the Nordics but a credible emerging competitor targeting the same installer channel and sustainability messaging.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ThermiaVarmepumpar

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Thermia AB