Therma Industri
Therma Industri AS designs, manufactures, and services custom-built industrial heating, cooling, and heat-pump systems using natural refrigerants (ammonia and CO2) for Norwegian customers in aquaculture, food processing, ice rinks, healthcare, and commercial buildings, operating a nationwide 50+ office network as a subsidiary of Nordic group Francks Kylindustri.
- Company typePrivate
- Founded1997
- HeadquartersOslo, Norway
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Therma Industri does
Therma Industri AS is a Norwegian total contractor (general contractor) for industrial heating, cooling, and energy systems, headquartered in Oslo with a nationwide network of 50+ offices spanning Fauske, Trondheim, Bergen, Stavanger, and Årnes. Founded in 1997 and operating as a subsidiary of the Nordic refrigeration group Francks Kylindustri (owned by Amplio Private Equity), the company designs, manufactures, and installs custom-built water-to-water heat pumps, refrigeration plants, freezing systems, ice machines, and energy centers using natural refrigerants — primarily ammonia and CO2 — for customers in aquaculture, food processing, ice rinks, healthcare, commercial buildings, and logistics. Notable technical components include skid-built modular systems, PLC-based control platforms with Norwegian-language interfaces, and the Karstensen LR-series industrial ice machines rated from 25 to 100 tons per 24 hours. Reference installations include a 2,050 kW transcritical CO2 system for Oda's 18,509 sqm logistics center, a 2.6 MW CO2 chiller with heat recovery for Haukeland University Hospital, and a 2x700 kW reversible heat pump for Osan Settefisk's RAS aquaculture facility.
The company's business model combines project-based one-time equipment sales with a recurring service and spare-parts revenue stream delivered through nationwide field-service coverage. Pricing is custom and quote-driven per project; commercial motion is enterprise field sales executed through regional managers, sales engineers, and technical project staff, supported by direct customer contact via the website, project case studies, and industry-event presence. Recurring aftermarket revenue — planned maintenance, emergency repairs, compressor overhauls, modifications, and a stocked spare-parts catalog — is the principal retention mechanism, anchored by Therma Cloud, a digital remote-monitoring platform that lets customers optimize energy consumption, and thermAcademy, an internal training program that builds the certified technician pipeline. Growth is being driven by an active roll-up strategy: Therma and its parent have executed at least four Norwegian acquisitions between 2023 and 2026 (Florø Kjøleservice, Naturlig Kulde, Storm Kulde, Øyangen), each retaining local management and brand identity while extending coverage of aquaculture, marine, and commercial cooling segments.
Therma Industri firmographics
Firmographics- Name
- Therma Industri
- Legal name
- Therma Industri AS
- Website
- https://therma.no
- Company type
- Private
- Founded year
- 1997
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Therma Industri AS designs, manufactures, and services custom-built industrial heating, cooling, and heat-pump systems using natural refrigerants (ammonia and CO2) for Norwegian customers in aquaculture, food processing, ice rinks, healthcare, and commercial buildings, operating a nationwide 50+ office network as a subsidiary of Nordic group Francks Kylindustri.
- Ownership category
- akta.pro rank
Therma Industri industry classification
Industry- Product category
- Industrial Refrigeration Systems
- NAICS
- Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414)
- SIC
- Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Refrigeration & Service Industry Machinery (3580)
- akta.pro primary industry
- Commercial & Industrial Refrigeration Systems (IMAHAKAA)
- akta.pro secondary industries
- Cold Chain & Temperature-Controlled Storage Equipment (IMAHAKAJ), Chillers & Cooling Plant Equipment (IMAHAKAE), Refrigeration Components & Controls (Compressors, Valves, Sensors) (IMAHAKAH), Preventive Maintenance Programs for Refrigeration Systems (HSAOAJAL)
Keywords
Where Therma Industri is headquartered
LocationHeadquarters
- HQ city
- Oslo
- HQ country
- Norway
- HQ region
- Europe
Offices13 records
Markets served
Therma Industri business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Supply Chain, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Industrial Refrigeration Equipment Sales: Project-based sales of industrial cooling and heating systems including heat pumps, refrigeration systems, energy centers, freezing equipment, and ice machines. Custom-built solutions tailored to customer specifications.
- Service and Maintenance: Ongoing service contracts, emergency repairs, planned maintenance, compressor overhauls, and modifications to existing systems. Service provided across all of Norway.
- Spare Parts: Sale of spare parts for all partners with many parts in stock. Critical component mapping and spare parts packages composed to increase operational reliability.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom project-based pricing |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels3 records
Therma Industri product offering
Product offeringCore offering
Therma Industri designs, manufactures, and installs industrial refrigeration and heat pump systems using natural refrigerants (ammonia and CO2) for industries including food processing, aquaculture, ice rinks, and commercial buildings. The company delivers custom skid-built solutions, energy centers, freezing systems, and ice machines, complemented by service, spare parts, and digital monitoring (Therma Cloud).
Product overview
Therma Industri AS is a leading provider of industrial cooling and heating systems operating as a single unified product and service portfolio. The core offerings include five main product categories: Varmepumper (heat pumps), Kjøle- og Fryselager (cooling/freezer storage), Energisentraler (energy centers), Innfrysing (freezing systems), and Ismaskiner (ice machines). These are complemented by the Therma Cloud digital platform for remote monitoring and the thermAcademy training forum. All products emphasize environmentally friendly solutions using natural refrigerants (ammonia and CO2) with low GWP. The company operates across multiple market segments: Building and Construction, Seafood and Aquaculture, Ice Rinks, Dairy, Slaughterhouses, and Commercial Cooling.
Differentiator
Problem solved
Functional benefit
Brands
- thermAcademy: Therma Industris forum for opplæring og kursing - training and education platform offering courses in industrial refrigeration
Products and services
- Varmepumper (Heat Pumps)
- Kjøle- og Fryselager (Cooling and Freezer Storage)
- Energisentraler (Energy Centers)
- Innfrysing (Freezing Systems)
- Ismaskiner (Ice Machines)
- Therma Cloud Digital monitoring platform providing remote visibility and control of installed Therma Industri refrigeration and heat pump systems.
- Service (Maintenance and Repair) Maintenance, service, and repair of installed refrigeration and heat pump equipment for industrial and commercial customers.
- Reservedeler (Spare Parts) Spare parts supply for Therma Industri installed equipment, supporting uptime and lifecycle maintenance.
Quantifiable outcome
- 2050 kW combined cooling capacity delivered for Oda's 18,509 sqm logistics facility
- +2 more outcomes
Companies that use Therma Industri
Customer profileNamed customers4 records
Segments6 records
Ideal customer profiles1 record
Therma Industri technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Therma Industri partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- ØyangenminorService and refrigeration contractor established in 2010 with offices in Ålesund. Specializes in marine, fisheries and aquaculture industries. Current owners will continue operations with significant ownership stake in the group.
- Storm KuldeminorBased in Ulefoss, Telemark, southwest of Oslo. Operates installation and service of refrigeration systems in Telemark and Grenland area.
- Naturlig KuldeminorFounded in 2020 with headquarters at Heimdal, Trondheim. Delivers commercial refrigeration and heat pump systems. Known for strong expertise in commercial refrigeration segment and deep knowledge of CO2 refrigerants.
- Florø KjøleserviceminorService and refrigeration contractor established in 1987 with offices in Eikefjorden. Specializes in aquaculture and marine sectors. Current owners will continue operations with significant ownership stake in the group.
- Francks KylindustricoreParent company - the leading Nordic supplier of industrial and commercial refrigeration with over 50 offices and ~650 employees across Sweden, Norway, Denmark and Finland. Therma Industri operates as a subsidiary.
Scale indicators8 records
Recent moves10 records
Expansion highlights6 records
Therma Industri competitors and assessment
Company assessmentBroad incumbents
- Johnson Controls International: Global HVAC, building automation and industrial refrigeration incumbent whose YORK and Sabroe brands compete directly with Therma in commercial and industrial refrigeration, heat pumps, and chiller applications across Europe.
- GEA Group: German-listed industrial equipment major with a sizeable refrigeration and heat-pump division serving food processing, dairy and cold storage — directly comparable end customers and project-based selling model to Therma.
- Alfa Laval: Swedish global supplier of heat exchangers, separation and fluid handling equipment with a strong industrial refrigeration / heat-pump offering — a relevant Nordic comparable for Therma's heat-transfer and refrigeration systems business.
- Danfoss: Danish global leader in refrigeration controls, compressors and heat-pump components headquartered near Therma's Nordic home market; supplies much of the control/component stack Therma integrates, and increasingly offers its own systems.
- Trane Technologies: Global HVAC and thermal-management incumbent whose Trane and Thermo King brands compete for chillers, heat pumps and transport refrigeration contracts in European commercial and industrial markets.
- Carrier Global Corporation: Global HVAC and refrigeration major with a strong commercial/industrial refrigeration portfolio (incl. natural-refrigerant CO2 systems) competing for the same data center, food retail, and cold-storage projects Therma targets in the Nordics.
Direct peers
- Mayekawa: Japanese industrial refrigeration specialist focused on ammonia and natural-refrigerant systems for food processing, cold storage and ice rinks — same core technology stack (ammonia/CO2) and similar industrial customer base as Therma.
- Kelvion: German-based heat exchanger and refrigeration equipment manufacturer serving industrial, marine, food and HVAC customers; comparable to Therma in heat-transfer technology and industrial cooling applications.
- Star Refrigeration: UK-based industrial refrigeration contractor and ammonia/CO2 specialist with comparable custom-engineered, project-based, service-plus-equipment model and similar end markets in food processing, cold storage and district cooling.
- Bitzer: German manufacturer of refrigeration compressors and a key component supplier; competes indirectly with Therma through systems integrators and increasingly offers packaged industrial refrigeration solutions.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Therma Industri social profiles
Digital presenceTherma Industri compliance and trust
Trust signalCompliance1 record
Therma Industri financial estimates
Financial estimateRevenue estimate
Valuation estimate
Therma Industri leadership team
Management profileNumber of profiles
Profiles1 record
Therma Industri subsidiaries and ownership
Company hierarchySubsidiaries13 records
Therma Industri funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Therma Industri M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Therma Industri
What does Therma Industri do?
Therma Industri designs, manufactures, and installs industrial refrigeration and heat pump systems using natural refrigerants (ammonia and CO2) for industries including food processing, aquaculture, ice rinks, and commercial buildings. The company delivers custom skid-built solutions, energy centers, freezing systems, and ice machines, complemented by service, spare parts, and digital monitoring (Therma Cloud).
Is Therma Industri a public or private company?
Therma Industri is a private company. It is classified as private equity controlled and is currently operating.
When was Therma Industri founded?
Therma Industri was founded in 1997. It employs 11 to 50 people.
Where is Therma Industri based?
Therma Industri is headquartered in Oslo, Norway, in the Europe region.
How does Therma Industri make money?
Three revenue lines are on record. Industrial Refrigeration Equipment Sales are the primary driver. The others are service and Maintenance and spare Parts.
Who are Therma Industri's main competitors?
Broad incumbents on record are Johnson Controls International, GEA Group, Alfa Laval, Danfoss, Trane Technologies and Carrier Global Corporation. Direct peers are Mayekawa, Kelvion, Star Refrigeration and Bitzer.
Does Therma Industri have an API?
No public API is recorded for Therma Industri.
What industry is Therma Industri in?
Therma Industri's product category is Industrial Refrigeration Systems. Its primary akta.pro industry code is IMAHAKAA, Commercial & Industrial Refrigeration Systems, with a secondary code of IMAHAKAJ, Cold Chain & Temperature-Controlled Storage Equipment. Its NAICS code is 333415 and its SIC code is 3585.