Vestegnens Kraftvarmeselskab

What Vestegnens Kraftvarmeselskab does

Vestegnens Kraftvarmeselskab (VEKS) is a Danish municipal district heating utility structured as an interessentskab (I/S partnership) and owned by 12 municipalities in the Vestegnen area between Roskilde, Køge, and Copenhagen. Founded in 1984, the company produces, transmits, and distributes district heating through approximately 260 km of underground pipework to 19 local district heating companies, ultimately serving roughly 170,000 households and approximately 500,000 citizens. Its wholly-owned subsidiary Køge Kraftvarmeværk, acquired in May 2012, operates as a biomass-fired combined heat and power plant commissioned in 1986, generating both district heating for Køge Fjernvarme and electricity for the East Danish high-voltage grid using sustainable biomass such as wood chips and sawdust. VEKS operates as a non-profit municipal consortium, meaning any surplus is reinvested in infrastructure rather than distributed to municipal owners.

VEKS' revenue model is anchored on selling heat to 19 local municipal district heating companies, which then resell to end consumers including households, businesses, and institutions. Pricing is not publicly disclosed because the company operates as a regulated municipal utility within a municipally-negotiated pricing structure. The company supplements its core offering with infrastructure services, including a NetGis-based pipeline network map and a research program on casing pipe durability conducted in collaboration with Rambøll.

The company's strategy is shifting the heat mix from owned biomass CHP production toward a portfolio of waste heat sources. VEKS has signed an agreement with Microsoft to recover waste heat from the Høje-Taastrup data center (capable of heating 6,000 homes, with first delivery in 2025-2026), joined a Novo Nordisk/Ørsted-led consortium investigating transmission of more than 200 MW of industrial waste heat from Kalundborg to the Copenhagen heating system (potentially serving 50,000+ homes), and participates in the EU Horizon Europe ELEXIA research project on digital tools for integrated energy systems. The Forsyningsplan 2025 outlines replacement of phased-out central biomass heating plants with decentralized electric heating plants, heat pumps, and additional waste heat recovery.

Name

Vestegnens Kraftvarmeselskab

Legal name

Vestegnens Kraftvarmeselskab I/S

Website

https://veks.dk

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

51–100 employees

Short description

Vestegnens Kraftvarmeselskab (VEKS) is a Danish nonprofit municipal consortium owned by 12 municipalities that produces, transmits, and distributes district heating through a 260 km pipe network to 19 local district heating companies serving roughly 170,000 households across the Copenhagen Vestegnen area.

Ownership category

akta.pro rank

Product category

District Heating Services

NAICS

Steam and Air-Conditioning Supply (221330), Steam and Air-Conditioning Supply (22133), Utilities (22)

SIC

Cogeneration Services & Small Power Producers (4991), Steam & Air-Conditioning Supply (4961)

akta.pro primary industry

District Energy & Community CHP (District Heating/Cooling Networks) (EUACAKAH)

akta.pro secondary industries

District Energy Biomass Plants (Heating Networks) (EUAAAGAB), Chillers, Boilers & Central Plant Operations (BPABACAG), District Energy & CHP-Based Microgrids (Thermal Networks + Power) (EUACALAL)

Keywords

• District heating supply
• District heating transmission
• Waste heat recovery
• Biomass combined heat and power
• Municipal heating utility

Headquarters

HQ city

Albertslund

HQ country

Denmark

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. District Heating Supply: VEKS generates revenue by producing and transmitting heat to 19 local district heating companies, which then sell to end consumers. The company is structured as a non-profit entity owned by 12 municipalities.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

VEKS produces, transmits, and distributes district heating through approximately 260 km of underground pipes to 19 local district heating companies, which together serve about 170,000 households and roughly 500,000 citizens across 12 owner municipalities between Roskilde, Køge, and Copenhagen. Heat is sourced primarily from waste heat recovered from power plants, waste incineration facilities, industrial sites, and data centers, supplemented by biomass-fired combined heat and power production at the Køge Kraftvarmeværk plant.

Product overview

VEKS (Vestegnens Kraftvarmeselskab) is a district heating company structured as an interested partnership (I/S) owned by 12 municipalities, providing production, transmission, and distribution of district heating to 170,000 households (approximately 500,000 citizens) through 19 local district heating companies in the Copenhagen Vestegnen area. The core offering includes managing the transmission network (approximately 260 km of pipes), operating Køge Kraftvarmeværk (biomass-fired combined heat and power plant), and developing new renewable heat sources including datacenter waste heat recovery (Microsoft), industrial waste heat (Kalundborg project), and participation in the ELEXIA EU research project for digital energy system optimization.

Differentiator

Problem solved

Functional benefit

Products and services

• District Heating Transmission and Supply (Fjernvarmeforsyning) Production, transmission, and distribution of district heating delivered via an approximately 260 km underground pipe network to 19 local district heating companies, which in turn serve roughly 170,000 households and about 500,000 citizens across 12 municipalities between Roskilde, Køge, and Copenhagen.
• Køge Kraftvarmeværk (Combined Heat and Power Plant) Decentralized biomass-fired combined heat and power plant that produces CO2-neutral district heating for the Køge Fjernvarme system and electricity for the East Danish high-voltage grid. Supplies CO2-neutral heat to new customers and enabled approximately 40,000 tonnes of CO2 emission reductions annually.
• NetGis Ledningskort (Pipeline Network Map)

Quantifiable outcome

• 40,000 tonnes CO2 reduction annually at Køge
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Ten partnerships are on record, tiered core and minor.

• Novo NordiskcoreStrategic or Co-development Partner · 29 April 2025Part of a consortium including VEKS, Novo Nordisk, Holbæk Kommune, Kalundborg Kommune, Kalundborg Forsyning, and Ørsted investigating the possibility of establishing a transmission line connecting Kalundborg with the Copenhagen area heating system. The project represents over 200 MW of waste heat potential.
• MicrosoftcoreStrategic or Co-development Partner · 5 March 2024VEKS has entered an agreement with Microsoft to utilize waste heat from its new data center in Høje-Taastrup. The data center can heat up to 6,000 homes. First waste heat is expected to be delivered for the heating season 2025-2026. Microsoft installs equipment to capture waste heat including the pipe system to the property boundary.
• ØrstedcoreStrategic or Co-development PartnerPart of the Kalundborg industrial waste heat consortium investigating transmission of excess heat from Kalundborg's industrial area to Copenhagen's heating network.
• Kalundborg KommuneminorStrategic or Co-development PartnerPartner in the Kalundborg waste heat project consortium.
• Holbæk KommuneminorStrategic or Co-development PartnerPartner in the Kalundborg waste heat project consortium.
• Kalundborg ForsyningminorStrategic or Co-development PartnerPartner in the Kalundborg waste heat project consortium.
• RambøllcoreImplementation/ SI/ Consulting PartnerVEKS and Rambøll collaborated on research regarding pipe durability and remaining lifespan of district heating pipes. They are inviting other district heating companies to share experiences and data for cross-industry knowledge building on pipe condition and longevity assessment.
• Horizon Europe (ELEXIA)minorStrategic or Co-development PartnerVEKS participates in ELEXIA, a European energy research project under Horizon Europe. The Danish pilot project is in Høje Taastrup area including the heat storage facility. VEKS collaborates with Høje Taastrup municipality and DTU on this project.
• Høje Taastrup KommuneminorStrategic or Co-development PartnerPartner in the ELEXIA European research project alongside VEKS and DTU.
• Danmarks Tekniske Universitet (DTU)minorStrategic or Co-development PartnerPartner in the ELEXIA European research project alongside VEKS and Høje Taastrup municipality.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• AffaldVarme Aarhus (AFFALDSplus / Aarhus Fjernvarme): Aarhus municipal waste incineration and district heating utility operating large-scale CHP, biomass, and waste-heat-driven heat supply — closely mirrors VEKS' CHP-and-waste-heat heat production model.
• Aalborg Forsyning: Municipal-owned multi-utility in Aalborg providing district heating, electricity, water and waste services. Similar I/S-like municipal structure and CHP/biomass heat production, making it a strong functional peer for VEKS.
• CTR (Centralkommunernes Transmissionsselskab): Municipal transmission company transmitting district heating on behalf of municipalities in the greater Copenhagen/Gladsaxe area — operates a near-identical wholesale transmission model to VEKS across an adjacent footprint.
• HOFOR (Hovedstadsområdets Forsyningsselskab): Copenhagen-area multi-utility providing district heating, water, wastewater and cooling. Operates district heating in adjacent/mutually served areas of Greater Copenhagen and serves a comparable municipal/utility customer base — direct functional peer for VEKS.
• Fjernvarme Fyn: Funen-based district heating transmission company serving Odense and surrounding municipalities with comparable production, transmission and distribution model to VEKS — direct structural peer.

Broad incumbents

• E.ON Danmark (district heating operations): European utility with Danish district heating assets and biomass/CHP exposure. Direct overlap on production of district heating and end-customer distribution, though as part of a broader diversified portfolio.
• Ørsted (District Heating / Bioenergy business): Major Danish energy company with bioenergy, CHP and large-scale heat generation assets, and a partner of VEKS in the Kalundborg consortium. Overlaps on biomass-fired heat production and waste-heat transmission — a broad incumbent peer.

Regional players

• Din Forsyning: Multi-utility serving parts of southern Jutland / Esbjerg area with district heating, water and waste services. Comparable municipal-utility operating model and customer base type, though operating in a different Danish region.
• Verdo (Randers Forsyning): Randers-based multi-utility with district heating activities similar to VEKS' integrated production-transmission model, though operating in a different Danish region.

Others

• Rambøll (Energy consulting): Engineering consultancy collaborating with VEKS on pipe durability research (OIT testing, casing pipe maintenance). Adjacent ecosystem participant providing technical advisory services to the district heating sector.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubevimeo.com/user86464948
• LinkedInlinkedin.com/company/vestegnens-kraftvarmeselskab-i-s

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries6 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 Vestegnens Kraftvarmeselskab