Thermigas

What Thermigas does

Thermigas (legal entity SAS Chauffage Industriel) is a French industrial equipment manufacturer headquartered in Lamballe, Brittany, founded in 1989 and operating as a wholly-owned subsidiary of Babcock Wanson Group since 2021. The company designs, manufactures, and services decentralized gas-fired industrial process heating equipment, with its flagship product being the thermoplongeur — a compact immersed tube heater that delivers heat directly at the point of use, replacing centralized boiler rooms. Its portfolio spans hot water generators, stratified hot water storage tanks, hot air burners, low-pressure steam generators, and dual-fuel biogas/natural gas burners, several of which carry patented CE 105% efficiency certification and BPI France Innovative Enterprise recognition. Engineering differentiation rests on 30+ years of accumulated know-how, an in-house CAD-driven engineering bureau, and proprietary ROI optimization software that typically delivers client paybacks under two years.

The commercial model is engineering-led direct sales: specialized energy engineers analyze client processes, design bespoke solutions, and close project-based sales through regional French field sales teams (West and East zones) and a dedicated export channel. Revenue is generated through one-time equipment sales, a rental/leasing channel for temporary needs, after-sales maintenance contracts, and energy efficiency consulting — a mix that combines capex purchases with recurring service streams. The customer base is anchored in the French agri-food sector (700+ installed enterprises spanning abattoirs, dairies, breweries, canneries, confectionery) with named references including Bigard, Stalaven, Bonduelle, Vallourec, Areva, and Arcelor Mittal, plus active export operations across Europe, North America, Russia, China, Peru, and Africa.

Name

Thermigas

Legal name

SAS Chauffage Industriel

Website

https://thermigas.eu

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

11–50 employees

Short description

Thermigas is a French manufacturer of decentralized gas-fired industrial process heating equipment — thermoplongeurs, hot water generators, steam generators, and biogas burners — serving primarily the French agri-food sector and exporting across Europe, the Americas, and Africa.

Ownership category

akta.pro rank

Product category

Industrial Process Heating Equipment

NAICS

Heating Equipment (except Warm Air Furnaces) Manufacturing (333414), Power Boiler and Heat Exchanger Manufacturing (33241), Industrial Process Furnace and Oven Manufacturing (333994)

SIC

Heating Equipment, Except Electric & Warm Air Furnaces (3433), Industrial Process Furnaces & Ovens (3567)

akta.pro primary industry

Boilers, Furnaces & Process Heating Equipment (IMAHAKAD)

akta.pro secondary industries

Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC), Heat Exchangers & Thermal Transfer Equipment (IMAHAKAC)

Keywords

• Industrial process heating
• Gas immersion heaters
• Decentralized heating equipment
• Thermal energy solutions
• Hot water generators

Headquarters

HQ city

Lamballe

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Industrial heating equipment manufacturing and sales: Thermigas manufactures and sells industrial fluid heating equipment including thermoplongeur gas heaters (tube immergé compact), hot water generators, hot water storage tanks, hot air burners, and steam generators. Products are sold as bespoke, custom-dimensioned solutions. Revenue is generated through one-time equipment sales with project-based engagement from feasibility study through installation.
2. Equipment rental / leasing: Thermigas rents industrial heating equipment including gas-fired hot water generators (up to 340 kW), all-stainless-steam generators (240 kW), and hot water storage tanks (70°C, 6 bar). Rental enables clients to address temporary or seasonal process heating needs without capital expenditure. This provides recurring rental revenue and serves as a land-and-expand funnel toward equipment purchase.
3. After-sales service and maintenance: Thermigas provides maintenance services through its after-sales service team (France) including preventive and curative maintenance, commissioning, and technical support. This generates recurring service revenue and strengthens customer retention.
4. Process energy efficiency engineering and consulting: Thermigas sells energy optimization studies, process analysis, and custom thermal solution design. Engineers analyze existing installations and develop decentralized heating solutions that can reduce client gas bills by up to 50%. This service supports equipment sales and differentiates Thermigas from pure equipment vendors.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Thermigas manufactures and sells decentralized industrial process heating equipment built around the gas-fired compact immersed tube (thermoplongeur à haut rendement). The core product line includes hot water generators, stratified hot water storage tanks, hot air burners, and low-pressure steam generators for industrial process applications. The company also provides custom engineering services, equipment rental, and after-sales maintenance, with patented CE 105% efficiency technology across multiple product lines.

Product overview

Thermigas is a manufacturer of industrial process heating solutions, operating as a subsidiary of the Babcock Wanson group. The company's core product is the Tube immergé compact (Compact Immersion Tube), a high-efficiency gas thermoblock that serves as the foundation for their product portfolio. Building on this technology, Thermigas offers a comprehensive range of heating products including Générateurs d'eau chaude (Hot Water Generators) in single/double-wall configurations with patented CE 105% efficiency, Ballons d'eau chaude (Hot Water Tanks) with stratification and multi-energy capabilities, Brûleurs air chaud (Hot Air Burners) in exchanger and non-exchanger variants, and Générateurs vapeur (Steam Generators) for low-pressure applications. The company also provides rental services for all major product categories and offers renewable energy solutions including thermal solar integration and biogas-compatible equipment. Thermigas positions itself as an energy efficiency specialist, offering decentralized heating solutions that reportedly achieve 30-50% energy savings compared to centralized boiler systems.

Differentiator

Problem solved

Functional benefit

Products and services

• Tube Immergé Compact (Compact Immersed Tube / Thermoplongeur) The foundational Thermigas product for heating liquids in industrial processes via gas combustion, available in multiple mounting configurations including plafonnier (ceiling), fagot (bundle), tiroir (drawer), and puits (well) mounting for direct heating of process baths and vessels.
• Générateur d'eau chaude (Hot Water Generator) Gas-fired hot water generators available in single-wall and double-wall versions, operating in closed-loop or open-circuit configurations. Features patented CE 105% efficiency rating for decentralized industrial hot water production.
• Ballon d'eau chaude (Hot Water Tank) Stratification and multi-energy hot water storage tanks available in atmospheric and pressure versions (up to 6 bar), featuring patented CE 105% efficiency technology for hot water storage and distribution.
• Brûleur air chaud (Hot Air Burner) Industrial hot air burners available in three variants: without heat exchanger, with heat exchanger (CE patented), and flamboir model for food-quality air heating applications in cooking ovens, atomization towers, drying, and fluidized beds.
• Générateur vapeur (Steam Generator) Low-pressure gas steam generators (0.5 bar) in all-stainless steel construction, producing high-quality steam suitable for direct injection heating, defrosting, and cooking applications.
• Location – Générateur d'eau chaude au gaz (Gas Hot Water Generator Rental) Rental service for gas-fired hot water generators with set temperatures up to 100°C. Available units include 120 kW (2 m³/h) and 340 kW (5.86 m³/h) all-stainless-steel models for temporary or seasonal industrial process heating needs.
• Location – Générateur de vapeur au gaz (Gas Steam Generator Rental) Rental service for all-stainless-steel gas steam generators (0.5 bar, 240 kW capacity, 340 kg/h steam output) suitable for direct injection, defrosting, and cooking applications.
• Location – Ballon de production d'eau chaude (Hot Water Tank Rental) Rental service for hot water production tanks (70°C max, 6 bar pressure), including a 15 m³ tank with 180 kW compact immersion tube for industrial cleaning applications.
• Solaire thermique (Thermal Solar) Thermal solar energy solutions integrated with gas burners, covering 20-60% of process energy needs for industrial applications including food processing, metalworking, textiles, and chemical industries.
• Biogaz (Biogas Burners and Hot Water Generators) Biogas-compatible burners and hot water generators featuring dual gas supply (biogas and natural gas or propane) for continuous operation despite biogas characteristic variations, with robust all-stainless-steel construction.
• Couplage Pompe à Chaleur – Brûleur Gaz/Biogas (Heat Pump Coupling) Optimized heat pump recovery coupling with gas/biogas burners, featuring pre-sized SKID solutions for industrial clients including SMEs, combining heat pump and gas/biogas burner technology with proprietary ROI optimization software.

Quantifiable outcome

• 30–50% reduction in industrial gas bill vs. centralized boiler systems
• +4 more outcomes

Named customers7 records

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Babcock Wanson GroupcoreStrategic or Co-development Partner · 1 January 2021In 2021, Thermigas was integrated into the Babcock Wanson Group, a major international supplier of industrial boiler room equipment and solutions. Both companies share common expertise in combustion, a customer base oriented toward the agri-food sector, and a philosophy around energy performance and decarbonization of industrial processes. Babcock Wanson provides Thermigas with international distribution reach and financial backing while Thermigas retains its specialized positioning in decentralized process heating.
• ADEME (Agence de la Transition Écologique)coreStrategic or Co-development PartnerThermigas collaborates with ADEME on energy efficiency projects and has co-developed (with OSEO and ADEME) the first solar thermal coupling installation in France for agri-food process heating. ADEME involvement validates the environmental and energy performance credentials of Thermigas solutions.
• GRDF (Gaz Réseaux Distribution France)minorGTM or Marketing PartnerGRDF, the main natural gas distribution network operator in France, commissioned a customer satisfaction study through CETIAT involving 700 companies equipped with Thermigas equipment. The study produced a 99.7% satisfaction rate finding that Thermigas uses as social proof for its gas-fired heating solutions.
• CETIAT (Centre Technique des Industries Aérauliques et Thermiques)minorOthersCETIAT conducted an independent customer satisfaction study commissioned by GRDF and Thermigas, surveying 700 client companies. CETIAT is a technical center for aeronautical and thermal industries that provided third-party validation of Thermigas's customer satisfaction metrics.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• GEA Group: Global supplier of process technology for food, beverage, dairy, and pharmaceutical industries including heat exchangers, separators, and process heating solutions. Comparable to Thermigas in agri-food process heating technology and customer verticals, though operating as a much larger diversified process technology incumbent.
• Spirax-Sarco Engineering: Global leader in steam generation and industrial process heating including boiler systems, heat exchangers, and steam specialty products. Overlaps with Thermigas's steam generators and hot water products but offers a much broader, portfolio-based approach to process steam and heat transfer rather than decentralized liquid heating specialization.
• Andritz Group: International technology group supplying industrial process equipment for solid/liquid separation, drying, and thermal processing. Comparable to Thermigas in process heating applications (drying, evaporation, fluidized beds using hot-air burners) and industrial customer verticals, though at vastly different scale and breadth.
• API Heat Transfer: Manufacturer of heat exchangers and heat transfer solutions for industrial applications including food processing, chemical, and energy. Compares to Thermigas on heat exchanger and thermal transfer technology used in industrial process liquid heating, though API focuses more on standardized units while Thermigas custom-engineers each installation.
• Babcock Wanson Group: Thermigas's parent company since 2021 and a major international supplier of industrial boiler room equipment and combustion solutions with overlapping expertise in gas-fired heating and an agri-food customer base. Operates broadly across boiler and heat-transfer categories rather than specializing in decentralized point-of-use thermoplongeur technology.
• Alfa Laval: Global manufacturer of heat exchangers, process equipment and fluid handling solutions serving food, chemical, pharmaceutical and energy customers. Overlaps with Thermigas's heat transfer technology and multi-vertical industrial customer base, though Alfa Laval operates at much larger scale across a broader thermal and separation equipment portfolio.
• Kelvion: Specialist manufacturer of heat exchangers, heat transfer solutions and industrial cooling/heating systems for food, chemical, marine and energy markets. Comparable to Thermigas's heat transfer engineering focus and similar industrial verticals, though Kelvion's portfolio is broader including cooling, while Thermigas focuses on gas-fired process heating.

Direct peers

• Bosch Industriekessel: Bosch Industriekessel manufactures industrial boilers and heating systems for process heat generation, including hot water and steam generators serving food, beverage, and chemical industries. Direct overlap with Thermigas's hot water generators and steam generator product line and similar project-based engineering sales approach in European industrial markets.
• Stelter & Brinck: German manufacturer of industrial burner systems including gas burners and combustion technology for process heating applications. Direct overlap with Thermigas's hot air burner, biogas-compatible burner, and gas-fired process heating solutions for industrial customers.
• Viessmann Industrial Solutions: Viessmann's industrial division supplies boilers, heat exchangers, and industrial heat generation systems for commercial and process applications. Comparable to Thermigas in offering custom industrial heating solutions for process liquid and steam generation across food processing and industrial customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 Thermigas