Nobao Renewable Energy

What Nobao Renewable Energy does

Nobao Renewable Energy (挪宝新能源集团) is a Chinese ground source heat pump (GSHP) clean energy company that designs, manufactures, and operates geothermal-based central air conditioning systems. The company's core technology uses closed-loop double-U underground buried pipe systems to exchange heat with stable subsurface soil temperatures (10°C-15°C at depths below 15m), enabling integrated delivery of cooling, heating, domestic hot water, floor heating, and swimming pool heating from a single platform. The product portfolio spans residential units (15kW, e.g., NGH015BT2) through large commercial modular units (up to 460kW cooling / 560kW heating, e.g., NGH500AR2) with parallel configurations of up to 50 units, supported by proprietary technologies including 200m+ deep burial methods, seamless retrofit switching, 75°C high-temperature systems, three-in-one integrated units, and a remote monitoring control system. The company was founded around 2005 and is headquartered in Shanghai's Zhabei district, with manufacturing operations in Jiangxi and Xingtai, regional offices in Tianjin, Nanjing, Nantong, and Ningxia, and a European subsidiary in Hørsholm, Denmark. Nobao's primary revenue model is the Energy Performance Contract (EMC / 合同能源管理), under which the company funds 100% of equipment, design, installation, and ongoing O&M; customers pay nothing upfront and Nobao recovers investment plus profit by sharing achieved energy savings (50-70% reduction vs. traditional HVAC) over contract terms typically spanning 25 years. Supplementary revenue streams include direct equipment sales for capital-ready customers, centralized energy supply services for industrial parks (e.g., the 50 million m² Sutong Science & Technology Industrial Park agreement), and EPC turnkey contracting with construction partners. The company serves government and public institutions (municipal heating, hospitals, museums), commercial real estate and hospitality (hotels, office towers, shopping centers), industrial parks and new city developments, high-end residential, and retrofit projects. Notable institutional backing includes Silver Lake Partners (USD 100M+ in 2011), China Environment Fund/Tsing Capital (USD 30M in 2009), and China Merchants Securities Hong Kong (USD 12M in 2010), and Nobao was included in the 2011 Global Cleantech 100 by Cleantech Group as one of only three Chinese companies on the list.

Name

Nobao Renewable Energy

Legal name

Shanghai Nobao New Energy Group (上海挪宝新能源集团)

Website

https://nobaogroup.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

51–100 employees

Short description

Nobao Renewable Energy is a Chinese clean energy company that designs, manufactures, and operates ground source heat pump (GSHP) systems for central cooling, heating, and hot water, serving government, hospitality, healthcare, and real estate clients primarily through a 25-year Energy Performance Contract (EMC) model.

Ownership category

akta.pro rank

Headquarters

HQ city

Zhabei

HQ country

China

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Energy Performance Contract (合同能源管理/EMC): Nobao's primary revenue model is the Energy Performance Contract (EMC). Under this model, Nobao provides 100% of the upfront capital for equipment, engineering design, procurement, installation, and ongoing operation & maintenance. Customers pay nothing upfront. Nobao recovers its investment and generates profit through sharing energy savings with the customer over the contract period (typically 25 years). This model aligns incentives — Nobao's returns depend directly on achieved energy savings — and creates long-term recurring revenue streams.
2. Direct Equipment Sales (一次性销售安装): Nobao also sells GSHP equipment directly to customers who prefer to own the systems outright. For new building projects or customers with available capital, Nobao supplies and installs its proprietary GSHP units and underground pipe systems as a one-time product sale and installation contract.
3. Centralized Energy Supply Services: For large-scale district/industrial park projects, Nobao operates centralized energy plants that provide heating, cooling, and hot water to multiple buildings within a development, billing end-users based on consumption over multi-decade concession periods. Examples include the Sutong Science & Technology Industrial Park (50 million m² agreement) and Beidaihe district-wide heating project.
4. EPC Turnkey Contracting: Nobao provides engineering, procurement, and construction services as a general contractor for GSHP system installation projects, particularly with partner construction companies (e.g., Hunan Construction Engineering Group, Beijing Urban Construction Yatai). Revenue recognized as projects are completed.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Nobao Renewable Energy designs, manufactures, sells, installs, and operates ground-source heat pump (GSHP) central air conditioning systems that use stable subsurface temperatures (10°C–15°C below 15m depth) for integrated cooling, heating, domestic hot water, floor radiant heating, and swimming pool heating. The company offers a product line of modular heat pump units ranging from 15kW (residential villas) to 460kW+ (large commercial buildings), deployable through direct equipment sales or through its signature Energy Performance Contract (EMC/合同能源管理) model where Nobao funds 100% of capital costs and recovers investment via shared energy savings over 25-year contracts.

Product overview

Nobao Renewable Energy (挪宝新能源集团) is a foreign-owned enterprise specializing in ground-source heat pump (地源热泵) central air conditioning systems, offering integrated solutions spanning R&D, consulting, design, manufacturing, sales, installation, and contract energy management (EMC) services. The product portfolio centers on the Nobao Ground-Source Heat Pump Central Air Conditioning System, supported by a range of proprietary modular heat pump units including the NGH series (NGH015BT2, NGH030AT2, NGH050AT2, NGH080AT2, NGH280AR1/SSHR-280, NGH500AR2) and the imported NOWI140TUR+ from Germany. Single-unit cooling capacities span from 15kW (residential villas) to 460kW (large commercial buildings), with parallel configurations supporting up to 50 units. Key differentiating technologies include the seamless switching retrofit technology, three-in-one integrated heat pump technology, and a proprietary modular cluster control system supporting fine-grained multi-stage load management. Nobao operates a unique Contract Energy Management (EMC) business model, where the company funds and manages the entire system lifecycle, delivering zero-investment, maintenance-free energy savings for clients. The systems provide multi-functional service — cooling, heating, domestic hot water, floor radiant heating, and swimming pool heating — all from a single ground-source platform. The portfolio also includes proprietary remote monitoring and control capabilities for energy equipment across all installed projects.

Differentiator

Problem solved

Functional benefit

Products and services

• NGH015BT2 (All-in-One Villa Ground-Source Heat Pump Unit)

Quantifiable outcome

• 50-70% energy consumption reduction vs. traditional central air conditioning systems
• +6 more outcomes

Named customers18 records

Segments5 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

Eleven partnerships are on record, tiered major and flagship.

• General Energie Group (法国General Energie集团)majorStrategic or Co-development Partner · 3 April 2023General Energie (a prominent French energy company involved in natural gas and electricity production, distribution, supply, and renewable energy services) and Nobao explored cooperation in GSHP business expansion in Europe and small smart heat pump system promotion in the European market.
• Xinji Municipal Government (辛集市人民政府)flagshipStrategic or Co-development Partner · 5 August 2022Nobao Energy Holdings (China) Co., Ltd. signed a strategic cooperation framework agreement with Xinji City government worth RMB 3 billion. Nobao will build a clean energy equipment R&D, manufacturing, sales, and service base in Xinji, with planned annual production capacity of 10,000 GSHP unit sets. The project also plans to handle all import/export customs declarations through Xinji.
• Henan Construction Group (河南省建设集团)majorStrategic or Co-development Partner · 28 July 2022Henan Construction Group (the only provincial state-owned construction enterprise in Henan) and Nobao conducted a three-day joint inspection of Nobao's northern project bases (Xiong'an, Beidaihe, Chengde). Both parties aim to explore cooperation in clean energy projects leveraging Henan's provincial resources and Nobao's GSHP technology.
• Nantong Shibai High-Tech Industrial Development Zone Management Committee (南通市北高新技术产业开发区管理委员会)majorStrategic or Co-development Partner · 23 February 2022Nobao signed an agreement with the Nantong Shibai High-Tech Industrial Development Zone (established 2018, the only cross-river integration provincial high-tech zone north of the Yangtze in Jiangsu) to build the 'Nobao Life Health Industrial Park' project. The park will focus on life health as the leading industry, targeting CRO, innovative drugs, medical devices R&D headquarters, and healthcare services.
• Hunan Construction Engineering Group (湖南建工集团)flagshipStrategic or Co-development Partner · 21 July 2021Nobao and Hunan Construction Engineering Group (a RMB 100+ billion state-owned construction conglomerate with 70 years of history and 120 Luban Awards) entered into strategic cooperation to establish a joint venture company to develop Tangshan city-level energy projects. Hunan Construction will provide capital and construction execution while Nobao contributes its GSHP technology and project pipeline. The two parties aim to become a premier GSHP construction team.
• Beijing Urban Construction Yatai Group (北京城建亚泰集团)majorImplementation/ SI/ Consulting Partner · 16 March 2021Nobao signed a cooperation agreement with Beijing Urban Construction Yatai Group for the Xingtai Nobao Industrial Park project (158,000 m²). Yatai will serve as the construction contractor, leveraging its expertise in large-scale building projects. This extends to investment, R&D, electromechanical installation, and general contracting collaboration.
• Xingtai Xindong New District Management Committee (邢台市邢东新区管委会)flagshipStrategic or Co-development Partner · 14 December 2020Nobao Energy Holdings signed a strategic cooperation agreement with Xingtai Xindong New District for the RMB 2.5 billion Nobao CBD project — a comprehensive business district including high-end commercial hotel, 5A-grade office buildings, and high-end talent apartments near the Xingtai East high-speed rail station. Expected annual output and tax revenue in the billions, creating 5,000 local jobs.
• Tangshan Municipal Government (唐山市人民政府)flagshipStrategic or Co-development Partner · 25 September 2020Nobao Energy Holdings signed a strategic cooperation framework agreement with Tangshan City covering: (1) heating and cooling energy reform cooperation, and (2) a high-temperature heat pump equipment and parts manufacturing industrial park in Lunan District. The manufacturing park will produce 10,000 high-temperature heat pump compressors and 20,000-50,000 cooling/heating components annually, creating 3,000+ local jobs.
• Glen Dimplex Group (爱尔兰GLEN DIMPLEX集团)majorStrategic or Co-development Partner · 1 April 2013Nobao and Glen Dimplex (Ireland/Germany) signed a preliminary cooperation agreement covering: (1) joint promotion of Nobao's GSHP EMC services in Europe, (2) authorized distribution of Nobao's large commercial GSHP units in Europe, and (3) potential joint venture in China to develop and manufacture smaller residential GSHP units for the Chinese market. Glen Dimplex CEO Sean Odriscoll and Germany GM Uwe Horlacher visited Nobao's Jiangxi factory and Shanghai/Nantong projects in April 2013.
• DANSK ENERGI OG JORDVARME A/S (挪宝集团欧洲公司)majorStrategic or Co-development Partner · 1 January 2013Nobao established a European subsidiary company in Denmark — DANSK ENERGI OG JORDVARME A/S — to serve as its European business platform, potentially leveraging Denmark's world-leading expertise in district heating and geothermal energy.
• Sutong Science & Technology Industrial Park (苏通科技产业园)flagshipStrategic or Co-development Partner · 27 January 2011Nobao signed a 25-year centralized energy supply contract with the Sutong Science & Technology Industrial Park to provide GSHP-based central air conditioning and domestic hot water to 50 million m² of new buildings. This is Nobao's largest and most significant project-level partnership, covering the entire industrial park's energy infrastructure.

Scale indicators15 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Bosch Thermotechnology: Division of Bosch manufacturing heating and hot-water solutions including geothermal heat pumps for residential and commercial applications. Comparable to Nobao in high-efficiency heat pump technology and in serving European and global commercial building customers.
• Carrier Global: Major US-based HVAC manufacturer with a dedicated geothermal heat pump product line (WaterFurnace, GeoComfort) targeting commercial and residential buildings. Comparable to Nobao in providing integrated heating/cooling/domestic hot water solutions and in serving district and commercial-scale applications.
• Viessmann: German family-owned manufacturer of heating, industrial and refrigeration systems, including a significant heat pump portfolio. Comparable to Nobao in providing integrated heating and cooling solutions for commercial and district applications, with strong presence in European clean-heating markets.
• Daikin Industries: Global HVAC and heat pump leader with extensive GSHP and air-source heat pump product lines serving commercial, residential, and industrial customers. Directly comparable to Nobao in heat-pump technology, large-building applications, and global expansion ambitions.
• NIBE Group: Swedish heat pump manufacturer specializing in geothermal and air-source heat pumps for residential and commercial buildings across Europe. Directly comparable to Nobao in GSHP technology focus and in targeting European district-heating and clean-heating customers.
• Glen Dimplex Group: Irish/German privately-held manufacturer of heating and heat pump solutions, and Nobao's signed European distribution and JV partner. Directly comparable in heat pump technology, European market focus, and intent to collaborate on smaller residential GSHP products.
• WaterFurnace International: North American manufacturer specializing exclusively in geothermal heat pump systems for residential and commercial buildings. Directly comparable to Nobao in dedicated GSHP technology focus, modular unit architecture, and pursuit of energy-savings contracting models.
• Mitsubishi Electric: Global manufacturer of air-conditioning and heat pump systems, including large commercial and modular units. Comparable to Nobao in modular heat pump architecture, commercial-building focus, and pursuit of high-efficiency/low-carbon HVAC solutions.

Regional players

• Gree Electric Appliances: China's largest residential air-conditioning manufacturer with growing commercial HVAC and heat pump capabilities. Comparable as a Chinese competitor addressing overlapping customer segments (Chinese commercial and residential buildings), but primarily serving the domestic Chinese market and lacking Nobao's GSHP specialization and EMC model.

Broad incumbents

• Trane Technologies: Global HVAC incumbent (formerly Ingersoll Rand's climate segment) with broad commercial and industrial offerings including heat pumps and geothermal solutions. Comparable as a broad incumbent offering overlapping capabilities for commercial and district-scale projects, but not specializing in Nobao's GSHP-only niche.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries10 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 Nobao Renewable Energy