What AXIS Tech does

AXIS Tech is a Lithuanian biomass energy equipment manufacturer and engineering contractor headquartered in Kaunas, operating as a subsidiary of ICOR Group, a diversified conglomerate with 100+ companies across three continents. Founded in 1997 and now employing 80+ professionals, the company designs and supplies industrial-scale biomass combustion systems for clients across Europe, including Lithuania, Latvia, Estonia, Poland, Ukraine, Germany, Sweden, and Norway. Its product portfolio covers four plant categories — combined heat and power (CHP) plants, water heating plants, process steam plants, and thermal oil plants — built from a modular set of components including PKS and SAX-series reciprocating grate furnaces, water and steam boilers, flue gas cleaning equipment, fuel handling systems, ash removal systems, and flue gas condensing economizers. Capacity range spans roughly 1 MW to 50+ MW thermal input.

The company's commercial model is project-based hardware sales with accompanying installation, commissioning, and aftermarket maintenance. Notable proprietary technologies include the Second Stage Flue Gas Condensing Economizer with Absorption Heat Pump (marketed as delivering 8-12% boiler house efficiency improvement), a glass-fibre-reinforced plastic (GRP) flue gas condensing economizer construction, and the AXT_BioT agricultural biomass combustion technology developed with the Lithuanian Energy Institute. NOx emissions reduction is offered through a strategic partnership with Fives, achieving compliance with EU emission directives (≤100 mg/Nm³). Go-to-market is direct enterprise sales targeting municipal district heating utilities (e.g., Kaunas, Klaipėda, Šiauliai, Vilnius, Daugavpils), heavy industrial operators (ORLEN Lietuva), wood products companies, and energy producers. Recent EU REACT-EU grant funding (€1.04M in 2022) and project wins in Poland and Ukraine indicate continued pipeline development. Pricing is not publicly disclosed; the company provides a free Power Plant Economy Calculator on its website as a top-of-funnel qualification tool.

Name

AXIS Tech

Legal name

UAB AXIS Tech

Website

https://axt.eu

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

51–100 employees

Short description

AXIS Tech is a Lithuanian biomass energy equipment manufacturer (subsidiary of ICOR Group) that designs and supplies CHP plants, boilers, flue gas systems, and efficiency upgrades for district heating utilities and industrial clients across Europe.

Ownership category

akta.pro rank

Product category

Biomass Energy Equipment

NAICS

Power Boiler and Heat Exchanger Manufacturing (33241), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (3334)

SIC

Heating Equipment, Except Electric & Warm Air Furnaces (3433), Cogeneration Services & Small Power Producers (4991), Industrial Process Furnaces & Ovens (3567)

akta.pro primary industry

Biomass Plant EPC & Integration (Design/Build, Balance of Plant) (EUAAAGAH)

akta.pro secondary industries

Biomass Combustion & Boiler Island Technology (Grates, Fluidized Bed, Burners) (EUAAAGAG), Heat Recovery & Thermal Integration for Biomass Plants (Economizers, ORC, Heat Exchangers) (EUAAAGAL), Emissions Control & Flue Gas Cleanup for Biomass Heat/Power (SCR/SNCR, ESP/Baghouse) (EUAAAGAK)

Keywords

• Biomass energy equipment
• Combined heat and power
• Flue gas cleaning
• Boiler efficiency solutions
• Emissions reduction systems

Headquarters

HQ city

Kaunas

HQ country

Lithuania

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Biomass Energy Equipment Sales: AXIS Tech generates revenue through the design, supply, and installation of complete biomass energy equipment including CHP plants, water heating plants, process steam plants, thermal oil plants, furnaces, boilers, and flue gas cleaning systems. Equipment sales represent the primary revenue stream with projects ranging from 1 MW to 50+ MW capacity.
2. Biomass Boiler Efficiency Solutions: Revenue from second-stage flue gas condensing economizers and absorption heat pumps that upgrade existing boiler plants. These efficiency solutions are sold as retrofit or new construction products, often supported by EU funds.
3. NOx Emissions Reduction Equipment: Sales of Low NOx burners, Ultra-low NOx burners, and SNCR systems for compliance with EU emission directives.
4. Maintenance and Spare Parts Services: Ongoing revenue from spare parts supply, technical consultations, and maintenance services for installed biomass boiler equipment. Includes warranty and post-warranty service offerings.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

AXIS Tech designs, supplies, and installs industrial-scale biomass energy equipment including combined heat and power (CHP) plants, biomass water heating plants, process steam plants, and thermal oil plants. The company also delivers emissions reduction solutions (low NOx burners, ultra-low NOx burners, SNCR systems) and efficiency upgrade packages such as second-stage flue gas condensing economizers paired with absorption heat pumps, supported by spare parts and maintenance services.

Product overview

AXIS Tech is a biomass energy equipment provider offering a comprehensive portfolio of products for industrial-scale energy production. The core offering consists of four main plant types: CHP Plants (Combined Heat and Power Stations) for simultaneous electricity and heat generation, Water Heating Plants for district heating, Process Steam Plants for industrial steam supply, and Thermal Oil Plants for high-temperature applications without high pressure. These plants utilize a modular component system including furnaces (PKS and SAX series), boilers, flue gas cleaning equipment, fuel handling systems, ash removal systems, and flue gas condensing economizers. The portfolio is augmented by add-on efficiency solutions such as the Second Stage Flue Gas Condensing Economizer with Absorption Heat Pump (which integrates INDEEL LT absorption heat pumps to increase efficiency by 8-12%) and NOx Reduction Solutions (Low NOx burners, Ultra-low NOx burners, and SNCR systems). Maintenance services including spare parts supply and technical consultations round out the offering. The company also provides an online Power Plant Economy Calculator tool for investment assessment.

Differentiator

Problem solved

Functional benefit

Products and services

• CHP Plants (Combined Heat and Power Stations) Biomass-fired combined heat and power stations that simultaneously produce heat and electricity using the cogeneration principle, with models including CHP 2.5 (1–2.5 MWe), CHP 5.0 (1.5–5.0 MWe), CHP 10.0 (3–10 MWe), and CHP 20.0 (4–20 MWe), targeting industrial facilities and district energy supply.
• Water Heating Plants Biomass water heating boiler plants for district heating and hot water preparation, featuring high efficiency, fully automated systems, and low operating costs, with capacities reaching multi-megawatt scale for municipal and industrial customers.
• Process Steam Plants Saturated and superheated steam equipment for steam-processing industries including veneer, food, brewing, dairy, cosmetics, aviation, and paper industries, supplied as complete process steam boiler plants.
• Thermal Oil Plants Thermal oil boiler houses using thermal oil as heat carrier to achieve high temperatures without vapor phase and high pressure, suitable for various industrial applications requiring precise high-temperature heat.
• Biomass Boiler Plant Efficiency Solutions (Second Stage Flue Gas Condensing Economizer with Absorption Heat Pump) Efficiency upgrade solution consisting of a second-stage flue gas condensing economizer and INDEEL LT absorption heat pump that recovers additional heat from low-temperature potential heat sources, increasing biomass boiler plant efficiency by approximately 8–12%. Suitable for retrofit or new build, and qualifying for EU funds.
• Emissions Reduction Solutions (NOx Reduction) Technologies including Low NOx burners, Ultra-low NOx burners, and SNCR systems to reduce nitrogen oxide emissions from conventional power plants burning natural gas, biomass, or heavy fuel oil, achieving emissions as low as ≤100 mg/Nm³ and ensuring compliance with EU emission directives.
• Maintenance Services for Biomass Boiler Plants Comprehensive maintenance services for biomass boiler plants including spare parts supply, expert consultations, technical evaluation, and renovation works, covering warranty and post-warranty support for installed equipment.

Quantifiable outcome

• 8-12% boiler house efficiency increase through flue gas condensing economizer installation
• +5 more outcomes

Named customers10 records

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Ten partnerships are on record, tiered key, project, core and parent.

• RSE s.r.o.keyStrategic or Co-development Partner · 1 January 2023Czech power equipment manufacturer and developer of industrial water-heating and steam boilers operating on biomass and natural gas. AXIS Tech collaborated with RSE on the Ukraine biomass boiler plant project in Okhtyrka, Sumy region, where RSE provided construction and installation expertise for the 40 MW facility built in under four months.
• EnergoserwiskeyImplementation/ SI/ Consulting Partner · 1 January 2023Project leader for Megatem EC Lublin CHP plant in Poland. The collaboration between Energoserwis and AXIS Tech demonstrates partnership in achieving sustainable energy solutions.
• EnergikaprojectImplementation/ SI/ Consulting Partner · 1 January 2022Partner for PEC Suwałki biomass boiler project in Poland. The first biofuel combustion project by AXIS Tech on the Polish market, completed in 23 months with specialists from AXIS Tech and Energika.
• FivescoreTechnology or IntegrationStrategic partnership with Fives for NOx reduction technologies. Fives has over 100 years' experience in industrial engineering of high-efficiency Pillard equipment and cutting-edge combustion technologies. Together they achieve significant results in NOx reduction projects, including reconstruction of PTVM, KVGM, TVGM, TGME type boilers that comply with latest EU emission directives.
• INDEEL LTcoreTechnology or IntegrationINDEEL LT is the manufacturer of absorption heat pumps used in AXIS Tech's second-stage flue gas condensing economizer systems. The absorption heat pump is essential for continuous fluid cooling, particularly condensate from flue gas.
• GS SERVICE LLCprojectImplementation/ SI/ Consulting PartnerUkrainian partner for the Sumy region biomass boiler plant project. GS SERVICE LLC served as the local partner for equipment installation, start-up, and maintenance in challenging circumstances.
• Gaujas Koks SIAprojectImplementation/ SI/ Consulting PartnerLatvian wood product company collaborated with AXIS Tech for installation of 15 MW biomass water heating boiler plant with SAX18 furnace, boiler, ash removal system, and electrostatic precipitator.
• Axioma ServiceprojectImplementation/ SI/ Consulting PartnerGeneral contractor for Klaipėdos Energija biomass boiler plant modernization project where AXIS Tech installed second-stage flue gas condensing economizer and INDEEL LT absorption heat pump.
• Lithuanian Energy InstitutecoreStrategic or Co-development PartnerResearch partner for EU-funded project developing AXT_BioT agricultural biomass combustion technology. Project goal is to improve market situation in agro biomass burning sector and create technology for burning different types of agro biomass in a single device.
• ICOR GroupparentOthersAXIS Tech is part of ICOR Group which started activity in 1990 and is one of the largest corporate groups in the region. ICOR owns more than 100 companies operating in public utilities, steel industry and energy, petroleum products trade, and real estate development. Companies operate on three continents, in more than 10 countries, serving markets of over 60 countries.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• ANDRITZ: Austrian technology group with a dedicated Power to Heat division delivering biomass-fired boiler plants, flue gas cleaning, and EPC services for district heating and industrial steam. Overlaps directly with AXIS Tech in plant size range, European customer base, and project-based delivery model.
• Babcock & Wilcox: US-headquartered power boiler specialist with biomass and waste-fired boiler product lines serving industrial and utility customers in Europe and globally. Comparable in core power-boiler manufacturing and emissions control scope, though larger scale.
• Valmet: Finland-based global leader in pulp, paper, and energy technology, with a large biomass-fired boiler and CHP plant product line serving district heating and industrial customers across Europe. Directly comparable to AXIS Tech in offering complete biomass boiler islands, fluidized bed and grate-fired technologies, and emissions control solutions.
• Sumitomo SHI FW: Finland/Japan-headquartered biomass and waste-to-energy boiler manufacturer supplying CFB (circulating fluidized bed) and BFB (bubbling fluidized bed) plants globally, including Eastern European district heating projects. Directly comparable technology stack to AXIS Tech's biomass boiler offerings.
• Doosan Enerbility: South Korean OEM supplying biomass and waste-fired power boilers, heat exchangers, and steam generators for utility and industrial customers. Comparable in equipment portfolio (boilers, flue gas systems, ash handling) and in competing for European biomass retrofit tenders.

Broad incumbents

• Metso: Finnish industrial incumbent with a broad portfolio across mining, aggregates, and flow control, including biomass and waste-to-energy processing equipment. Overlaps with AXIS Tech in fuel handling and processing equipment for biomass-fired plants but operates across many adjacent verticals.
• Fives: French industrial engineering group with Pillard combustion equipment (low-NOx burners) for biomass, gas, and oil-fired boilers; AXIS Tech's documented strategic partner for NOx reduction. Comparable technology stack on the combustion side but much broader industrial portfolio beyond biomass.
• Hitachi Zosen Inova (HZI): Swiss/Japanese EPC firm specializing in waste- and biomass-to-energy plants with bubbling and circulating fluidized bed boiler technology. Competes for similar European biomass and CHP projects but with broader waste-handling scope.

Emerging players

• Aalborg Energie Technik (a/s): Danish biomass boiler specialist focused on smaller-to-mid-scale grate-fired and fluidized bed plants for district heating and industrial customers. Closely comparable in plant size range (1-50 MW) and in targeting Eastern European district heating retrofit opportunities.
• POLYTECHNIK Luft- und Feuerungstechnik GmbH: Austrian combustion technology specialist producing biomass furnaces, dust burners, and air-heating systems for industrial and agricultural customers. Comparable niche focus on combustion islands and ability to address Eastern European agro-biomass customers.

Market position

Strengths5 records

Weaknesses2 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/axistecheu
• YouTubeyoutube.com/channel/UC9dHxay-Jo5e8GZx32Z_Saw
• Facebookfacebook.com/axistecheu
• LinkedInlinkedin.com/company/axteu

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 AXIS Tech