Thermia Norge

What Thermia Norge does

Thermia Norge AS is the Norwegian sales, distribution, and training entity of Thermia AB, a Swedish heat pump manufacturer founded in 1923 (with corporate roots in 1889) and headquartered in Arvika, Sweden. The company designs and produces heat pump systems that extract renewable thermal energy from ground (boreholes), bedrock, soil, seawater, and ambient air, using inverter-controlled compressors and proprietary technologies (HGW hot gas water, TWS, Optimum, Energy Source Control) to deliver space heating, domestic hot water, and comfort cooling. The product portfolio spans residential ground source (Atlas, Calibra E, Calibra RXT), air-to-water (Athena H, iTec XTR), and air-to-air (Aura T3, Aura S3) units, alongside the Mega series for commercial and large residential buildings, hot water tanks, and remote-monitoring services.

The business model is hardware-led, with revenue generated primarily through sale of heat pump units and complementary accessories via a network of over 100 certified installers across Norway, supplemented by direct project sales for large commercial and industrial installations. Pricing is not publicly disclosed; quotations are handled by certified installers, who also deliver free energy-saving consultations. Recurring revenue is layered on via the Thermia Trygg extended warranty and insurance program (included for 6 years, extendable up to 16-18 years). Marketing combines content and digital channels, trade shows, installer training at the Oslo facility, and an extensive reference-customer library. Since April 2018, Thermia AB has been owned by the Stiebel Eltron Group, a major German HVAC manufacturer, which provides distribution scale and procurement leverage while Thermia retains its brand identity. The company holds ISO 9001 and ISO 14001 certifications and reports historical group revenue of 670 MSEK (2017) with approximately 200 group employees.

Name

Thermia Norge

Legal name

Thermia AB

Website

https://thermia.no

Company type

Private

Founded year

1889

Operating status

Operating

Headcount range

251–500 employees

Short description

Thermia Norge AS is the Norwegian subsidiary of Swedish heat pump manufacturer Thermia AB, selling residential and commercial ground-source, air-to-water, and air-to-air heat pumps through a network of over 100 certified installers, with direct project sales for large buildings.

Ownership category

akta.pro rank

Product category

Heat Pump 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)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585)

akta.pro primary industry

Refrigeration Components & Controls (Compressors, Valves, Sensors) (IMAHAKAH)

akta.pro secondary industries

Heat Exchangers & Thermal Transfer Equipment (IMAHAKAC), Heat Exchangers, Coils & Hydronic HVAC Components (IMADANAF)

Keywords

• Ground source heat pumps
• Air-to-water heat pumps
• Air-to-air heat pumps
• Commercial HVAC systems
• Renewable heating solutions

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Heat Pump Hardware Sales: Sale of heat pump units including ground source, air-to-water, and air-to-air models. Revenue from product sales through certified installer network. Turnover stated as 670 MSEK (2017).
2. Hot Water Tanks and Accessories: Sales of complementary products including hot water tanks (MBH, WT series), cooling modules, fan convectors, room sensors, and smart home integrations.
3. Extended Warranty and Insurance (Thermia Trygg): Extended security insurance packages after initial 6-year warranty period, offering up to 16-18 years of comprehensive coverage.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Thermia Norge sells heat pump systems — ground source, air-to-water and air-to-air units — together with hot water tanks, control accessories, smart-home integrations and an extended warranty subscription (Thermia Trygg). All products are distributed through a network of 100+ certified installers for residential customers, while a dedicated project department handles direct sales of commercial-scale systems for apartments, hotels, spas and industrial facilities.

Product overview

Thermia Norge offers a comprehensive portfolio of heat pump products for residential and commercial applications. The product range includes ground source and earth heat pumps (Atlas, Calibra E, Calibra RXT), air-to-water heat pumps (Athena H, iTec XTR), and air-to-air heat pumps (Aura T3, Aura S3). For larger commercial buildings, the Mega and Mega E series provide high-capacity solutions. The portfolio is complemented by hot water heaters (MBH, WT-C FC, WT-S, WT-T), accessories (Thermia Connect, cooling modules, room sensors), and smart control services (Thermia Online, Smart Price, SmartTHINGS integration). All products are designed for Nordic climates with features like inverter technology, remote monitoring, and smart home integration.

Differentiator

Problem solved

Functional benefit

Products and services

• Atlas (Ground Source Heat Pump) Premium ground source heat pump with SCOP value of 6.15 and hot water production up to 545 litres; positioned as the most efficient and complete ground source heat pump in the Thermia portfolio, for residential properties.
• Calibra E (Ground Source Heat Pump) Ground source and earth heat pump with inverter technology for optimal efficiency, for residential installations.
• Calibra (Ground Source Heat Pump) Inverter-controlled ground source heat pump that can calibrate itself to the customer's existing heating system and borehole; for residential installations.
• Calibra RXT (Ground Source Heat Pump) Ground source heat pump using natural refrigerant R290 with 70 °C flow temperature and high domestic hot water comfort; for residential installations.
• Athena H (Air-to-Water Heat Pump) Air-to-water heat pump for space heating and domestic hot water production in residential properties.
• Thermia iTec (Air-to-Water Heat Pump) New-generation air-to-water heat pump developed for Nordic climate conditions with the latest inverter technology; for residential installations.
• iTec XTR (Air-to-Water Heat Pump) Powerful air-to-water heat pump using a natural refrigerant, designed for Nordic climate conditions; for residential installations.
• Aura T3 (Air-to-Air Heat Pump) Air-to-air heat pump with elegant, discreet design developed for Nordic climate conditions; for residential heating and supplementary cooling.
• Aura S3 (Air-to-Air Heat Pump) Compact air-to-air heat pump designed for Nordic climate conditions; for residential heating and supplementary cooling.
• Mega (Commercial Heat Pump) Commercial heat pump for larger buildings with variable speed technology and flexible operation; for apartment blocks, housing cooperatives, hotels and similar properties.
• Mega E (Commercial Heat Pump) Commercial heat pump for larger buildings with high efficiency and flexible installation options; for medium-to-large commercial and residential properties.
• Mega S (Commercial Heat Pump) Compact-format commercial heat pump in the 10–33 kW range, ideal for medium-sized commercial buildings and residential blocks.
• Mega Eco (Commercial Heat Pump) Variable-speed commercial heat pump for larger buildings using low-GWP R454B refrigerant (78% lower GWP than comparable products).
• Diplomat Inverter Mini (Ground Source Heat Pump) Smaller variant of the Diplomat Inverter ground source heat pump with a 1.5–7 kW power range, optimized for houses with lower heating demand.
• MBH (Hot Water Heater) Hot water heater for domestic hot water production; complementary product for Thermia heat pump installations.
• WT-C FC (Hot Water Cylinder) Hot water cylinder with additional features for hot water storage; complementary product for Thermia heat pump installations.
• WT-S (Hot Water Storage Tank) Hot water storage tank for residential hot water systems; complementary product for Thermia heat pump installations.
• WT-T (Hot Water Storage Tank) Hot water tank for thermal energy storage; complementary product for Thermia heat pump installations.
• Thermia Trygg (Extended Warranty / Insurance) Extended warranty and security insurance subscription covering the heat pump beyond the included 6-year warranty, with options to extend coverage up to 16–18 years on an annual recurring basis; sold via certified installers and via the dedicated 'Thermia Trygg for større bygg' offering for larger commercial buildings.

Quantifiable outcome

• Energy savings up to 75-80% compared to direct electric heating
• +5 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature7 records

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Bosch Thermotechnology: Global HVAC/heat-pump manufacturer whose portfolio (incl. IVT, CTC, Bosch brands) competes head-to-head with Thermia across ground-source and air-to-water segments in Norway and the Nordics, with deeper group-level R&D and marketing resources.
• NIBE: Sweden-based, listed (Nasdaq Stockholm) manufacturer of ground-source, air-to-water and exhaust-air heat pumps plus water heaters, with strong Nordic installer networks and a similar end-to-end portfolio to Thermia's residential and commercial lines; the most directly comparable Nordic specialist.
• Panasonic Heating & Cooling: Major Japanese manufacturer of air-to-air, air-to-water and heat-pump solutions distributed in Norway via installers, overlapping with Thermia's residential product range and global scale advantage.
• Vaillant Group: European HVAC/heat-pump specialist (Vaillant, awenta, Saunier Duval, Glow-worm); competes in Norwegian residential and commercial heat-pump segments, with comparable product breadth but larger multi-brand distribution.
• Viessmann: German heat-pump, boiler and HVAC manufacturer with broad European direct sales and installer coverage, competing in the same ground-source, air-to-water and commercial capacity bands as Thermia's Calibra and Mega series.
• Fujitsu General (Airstage): Japanese manufacturer with strong presence in Nordic air-to-air heat pumps via Airstage and Halcyon brands, competing with Thermia's Aura T3 and Aura S3 lines in the residential and light-commercial segments.

Broad incumbents

• Mitsubishi Electric (Heating): Major Japanese HVAC/heat-pump manufacturer whose Ecodan and air-to-air lines are widely distributed in Nordic residential and light-commercial channels, overlapping directly with Thermia's Atlas, iTec and Aura lines.
• Stiebel Eltron: Thermia's parent since April 2018 and a major German heat-pump and water-heating manufacturer; prior to the acquisition, Stiebel Eltron was itself a direct competitor to Thermia in many European markets and remains a strategic reference peer.
• Daikin: Global HVAC and heat-pump leader; competes in Norway across residential air-to-air, air-to-water and commercial systems, leveraging global scale and broad portfolio breadth that Thermia does not match.

Emerging players

• LG Electronics (HVAC): Korean manufacturer scaling its air-to-water and residential heat-pump offerings in Europe; relevant peer for the residential air-to-water and heat-pump segments where it increasingly overlaps with Thermia's Athena and iTec lines.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/thermia-norge-as
• Facebookfacebook.com/thermiavarmepumper

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 Thermia Norge