Farad

What Farad does

FARAD S.A. is a Greek designer and manufacturer of tubular (shell-and-tube) and gasketed plate heat exchangers, founded in 1979 and headquartered in Piraeus with production in Paiania. The company serves the marine/shipping sector as its primary vertical — commercial vessels, tankers, LNG/LPG carriers, and naval fleets — alongside industrial customers in chemical, petrochemical, HVAC, power, pharmaceutical, and food processing. Its product portfolio spans roughly 18 specialized SKUs including marine condensers, MGO cooling units, cargo heaters, LNG/LPG vaporizers, fresh water generators, charge air coolers, and gasketed plate exchangers, all produced to order with custom engineering.

Manufacturing is anchored by 3D modeling and proprietary heat-exchanger design software plus a Hyperion Q4020/X7 30kW fiber laser cutting system (0.03mm repeatability) installed in March 2026, with a 12-point quality control process and ISO 9001/14001/45001 plus DNV-GL and ABS certifications supporting classification-society approvals. The business operates three revenue streams: custom-engineered hardware sales, maintenance/repair/spare-parts services (including ultrasonic cleaning and passivation launched in 2025), and a small emerging configurator-tool line.

Commercial motion is enterprise field sales via direct engagement with shipowners, technical managers, and engineers, supported by channel partners (Breezemarine Group for regional distribution; UW Group for Cyprus and Singapore coverage), participation in major maritime exhibitions (Posidonia, Europort, Sea Asia, DEFEA, BALTEXPO), and a multi-year direct maintenance contract with Naval Group Hellas for Hellenic Navy FDI frigates. Pricing is quote-based on custom specifications with 2-4 week standard and 3-6 week specialized lead times, and the company reports 90 employees and 35,000+ cumulative installations over its 45-year history.

Name

Farad

Legal name

FARAD S.A.

Website

https://farad.gr

Company type

Private

Founded year

1979

Operating status

Operating

Headcount range

51–100 employees

Short description

FARAD S.A. is a Greek manufacturer (founded 1979, ~90 employees) of custom-engineered tubular and gasketed plate heat exchangers serving primarily the marine/shipping sector (commercial and naval) plus industrial customers, with full-service maintenance, spare parts, and direct distribution partnerships in Europe and Asia.

Ownership category

akta.pro rank

Product category

Industrial Heat Exchangers

NAICS

Power Boiler and Heat Exchanger Manufacturing (332410), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC)

akta.pro secondary industry

Waste Heat Recovery & Heat Integration (HRSG/ORC, Pinch Analysis, Heat Exchangers) (EUABAJAF)

Keywords

• Marine heat exchangers
• Shell and tube heat exchangers
• Gasketed plate heat exchangers
• Industrial condensers and coolers
• Heat exchanger manufacturing

Headquarters

HQ city

Piraeus

HQ country

Greece

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Heat Exchanger Manufacturing: Design and manufacture of tubular and gasketed plate heat exchangers for marine and industrial applications. Products include condensers, coolers, heaters, evaporators, and specialized units. Each unit is made to order with custom engineering.
2. Maintenance and Repair Services: Comprehensive services including cleaning, reconditioning, repair, shipboard services, optimization, and research. Services are provided both at facility and on-board ships.
3. Spare Parts Supply: Extensive inventory of high quality spare parts for trouble-free operation of heat exchanger products.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

FARAD S.A. designs and manufactures made-to-order tubular (shell-and-tube) and gasketed plate heat exchangers for marine and industrial applications, including condensers, coolers, heaters, evaporators, MGO cooling units, LNG/LPG vaporizers and fresh water generators. Each unit is custom engineered using 3D modeling, industry-leading heat exchanger design software and Hyperion Q4020/X7 fiber laser cutting (0.03 mm repeatability), supported by a 12-point quality control process and a 2-year product warranty. The company also provides aftermarket services (cleaning, reconditioning, shipboard repair, spare parts, passivation, ultrasonic cleaning, optimization and research) for the global maritime and industrial markets.

Product overview

FARAD S.A. is a Greek manufacturer specializing in high-quality tubular and gasketed plate heat exchangers for marine and industrial applications since 1979. The product portfolio centers on two main heat exchanger types: tubular (shell & tube) and gasketed plate heat exchangers. The tubular product line includes Aluminum Coolers, Box Coolers, Cargo Condensers, Charge Air Coolers, Compressor Coolers, COPT Condensers, DX Evaporators, FC Condensers, Fresh Water Generators, Heaters (Steam/Water/Thermal Oil), LNG/LPG Vaporizers, MGO Coolers, MGO Cooling Units, Oil & Water Coolers, Steam Condensers, Cargo Heaters, and Tank Cleaning Heaters. The gasketed plate heat exchanger line covers heating, cooling, condensation, and evaporation applications across diverse industries. An online FC Configurator tool assists with product selection. The company also provides comprehensive services including cleaning, reconditioning/repair, shipboard services, passivation, ultrasonic cleaning, optimization, and research. The product ecosystem addresses the full lifecycle from design and manufacturing through maintenance and upgrade services, serving maritime, naval, industrial, chemical, petrochemical, HVAC, power, pharmaceutical, and food sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Gasketed Plate Heat Exchangers Versatile plate heat exchangers designed for heating, cooling, condensation and evaporation applications across marine, industrial, chemical, petrochemical, HVAC, power, pharmaceutical and food industries, featuring flexible configuration, expandable design and custom OEM replacement capabilities.
• Aluminum Coolers Bar and plate technology coolers for cooling oil, hydraulic fluids, water or compressed air, engineered for high specifications with flexible core combinations and custom sizing.
• Box Coolers

Quantifiable outcome

• 35,000+ successful installations completed
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

Six partnerships are on record, tiered core and minor.

• UW GroupcoreChannel Partner/ Reseller/ Distributor · 1 February 2026FARAD S.A. partnered with UW Group to strengthen international presence through representation in Cyprus and Singapore. UW Group provides local expertise and support for regional markets, enabling closer proximity to customers with reliable, locally based representation.
• Naval Group HellascoreStrategic or Co-development Partner · 1 May 2025Five-year direct agreement establishing FARAD S.A. as official maintenance provider for three FDI frigates of the Hellenic Navy. FARAD already involved in construction of FDI vessels, supplying advanced heat exchangers. Contract covers broad range of technical maintenance services for multiple ship systems.
• Hellenic NavycoreStrategic or Co-development Partner · 1 January 2025Long-standing relationship with Hellenic Navy. Memorandum of Agreement renewed for 2019 for specialized inspection services on all heat exchangers used by the Navy in ships and installations. Participation in FDI HN frigates program with supply of heat exchangers.
• Breezemarine GroupcoreChannel Partner/ Reseller/ Distributor · 1 October 2024Breezemarine Group distributes and supports FARAD S.A.'s state-of-the-art products, helping clients meet energy efficiency and sustainability goals with cutting-edge heat exchange technology. Partnership expands access to advanced solutions across various regions.
• MAFCS Project ConsortiumminorStrategic or Co-development Partner · 1 April 2024FARAD participates in MAFCS project (autonomous fuel change system from HFO to MGO) with consortium partners: UTECO S.A., LYGEROS KIA SIA O.E. (PSYCTOTHERM), and INNOVATIVE TECHNOLOGIES CENTER S.A. Project co-financed by Greece and European Union under NSRF 2014-2020.
• HEMEXPOcoreStrategic or Co-development Partner · 1 January 2024FARAD S.A. is an active member of HEMEXPO (Hellenic Marine Equipment Manufacturers & Exporters). CEO Kostas Fanouriadis serves as Vice President of the association. HEMEXPO represents Greek marine equipment manufacturers exporting advanced solutions worldwide, with over 10,000 ships equipped by member products.

Scale indicators5 records

Recent moves1 record

Broad incumbents

• Xylem: Global water technology company with heat transfer and fluid handling products serving industrial and municipal markets. Comparable at the equipment-manufacturer level for water/heat exchange applications, though broader in scope than Farad's specialty focus.
• GEA Group: Large industrial group with a broad heat exchanger and process cooling portfolio serving chemical, food, marine, and power markets. Comparable on heat transfer equipment manufacturing and industrial customer base, though much larger and more diversified than Farad.
• Alfa Laval: Global leader in heat transfer, separation, and fluid handling, with a large marine heat exchanger portfolio (gasketed plate, welded, fusion-bonded). Comparable as a heat exchanger manufacturer serving marine and industrial customers, but operates at vastly larger scale with broader product breadth.

Direct peers

• API Heat Transfer: US-based manufacturer of heat exchangers (plate, shell-and-tube, air-cooled) for industrial, marine, and defense customers. Comparable product mix to Farad across tubular and plate designs, with similar defense/industrial end-market exposure.
• Kelvion: Specialist manufacturer of shell-and-tube, plate, and air-cooled heat exchangers for marine, oil & gas, and industrial markets. Directly comparable to Farad on product type (tubular and plate HX), target segments (marine, industrial, HVAC), and customization model.
• Hisaka Works: Japanese manufacturer of plate heat exchangers (gasketed, welded, brazed) and process equipment for chemical, marine, and HVAC applications. Comparable as a plate HX specialist serving industrial and marine markets globally, with similar customization focus.
• Sondex (Danfoss): Plate heat exchanger brand within Danfoss Climate Solutions, supplying gasketed and brazed plate HX to HVAC, refrigeration, and marine. Directly comparable to Farad's plate heat exchanger business across overlapping marine and industrial segments.
• SWEP (Dover): Leading manufacturer of brazed plate heat exchangers, part of Dover Corporation, serving HVAC, refrigeration, and district heating markets. Directly comparable to Farad's gasketed plate HX line in terms of product technology, though SWEP specializes in brazed rather than gasketed designs.
• Tranter (API Heat Transfer): Plate heat exchanger brand owned by API Heat Transfer, with a long-standing plate HX portfolio for marine, HVAC, and industrial uses. Closely comparable to Farad on gasketed plate heat exchanger technology, marine/industrial customer overlap, and customization approach.
• Barriquand Heat Exchangers: French manufacturer of plate and shell-and-tube heat exchangers for industrial, chemical, and marine applications. Closely comparable to Farad in scale, product type (gasketed plate and tubular HX), and European industrial customer base.

Market position

Strengths5 records

Weaknesses5 records

Key risks5 records

Key highlights6 records

Customer concentration

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Compliance7 records

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 Farad