KOVAN

What KOVAN does

KOVAN Group d.o.o. is a privately held metal processing and renewable heating equipment manufacturer founded in 1996 and headquartered in Gračanica, Bosnia and Herzegovina. The company operates three integrated business lines: (1) EKOLINE-branded heating equipment, including pellet boilers (EKOLINE HOME 20-50 kW, EKOLINE INDUSTRY 75-600 kW), pellet fireplaces (EKOLINE KAMINI 7.5-11 kW), and MMHP-series air-to-water heat pumps (8-26 kW) using Panasonic compressors; (2) metal processing services including laser cutting on a TRUMPF TruLaser 30-30 4000W machine, automatic galvanic zinc plating using Atotech technology, and complex fabrication such as oil-gas separators and copper granulation plants; and (3) authorized distribution of Siemens industrial automation products (SIMOTICS motors, SINAMICS drives, SIRIUS protection, SIMATIC controllers, Flender/Simogear gearboxes). The company holds 37 employees and is led from a single Gračanica site, though the source materials note growing EU export activity on top of the domestic BiH market.

Revenue is generated through direct sales of EKOLINE heating hardware, project-based metal processing and galvanic services quoted per job, and Siemens product distribution. Customer segments are split across residential property owners (primary), commercial and industrial buildings, and industrial manufacturing companies requiring custom metal components. Pricing for installed EKOLINE products is not publicly listed; galvanic services are quoted per kg or per piece based on drawing specifications, coating type, and quantity. The company markets products and services through its company website (kovan.ba) and direct sales channels located at the Gračanica headquarters, with multiple dedicated contact points for sales, technical support, service, and accounting.

KOVAN differentiates on a vertically integrated manufacturing model, a nearly 30-year operating history, and a deep certification portfolio (ISO 9001:2015, ISO 14001:2015, ISO 50001:2015, CE marking, ELV/RoHS compliance). The Siemens partnership provides channel access to Tier-1 industrial automation products that would be difficult for a similarly sized regional competitor to replicate. Quantified customer outcomes include 15-40% financial savings from EKOLINE INDUSTRY boilers and up to 75% electricity savings from MMHP heat pumps, though the company does not disclose revenue, headcount growth rate, or financial performance metrics.

Name

KOVAN

Legal name

KOVAN GROUP d.o.o.

Website

https://kovan.ba

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

KOVAN Group d.o.o. is a BiH-based metal fabrication and heating equipment manufacturer founded in 1996. It produces EKOLINE pellet boilers, fireplaces, and MMHP heat pumps for residential and industrial customers, and distributes Siemens industrial automation products across BiH and EU export markets.

Ownership category

akta.pro rank

Product category

Heating Equipment Manufacturing

NAICS

Heating Equipment (except Warm Air Furnaces) Manufacturing (333414), Power Boiler and Heat Exchanger Manufacturing (332410), Power Boiler and Heat Exchanger Manufacturing (33241), Industrial Process Furnace and Oven Manufacturing (333994)

SIC

Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures (3430), Heating Equipment, Except Electric & Warm Air Furnaces (3433), Industrial Process Furnaces & Ovens (3567)

akta.pro primary industry

Boilers, Furnaces & Process Heating Equipment (IMAHAKAD)

akta.pro secondary industries

Industrial Furnaces, Kilns & Thermal Processing Equipment (IMAHAEAE), Fans, Blowers & Ventilation Units (Supply/Exhaust/Inline) (IMADANAB)

Keywords

• Pellet boiler manufacturing
• Heat pump systems
• Metal processing services
• Galvanic zinc plating
• Industrial HVAC equipment

Headquarters

HQ city

Gračanica

HQ country

Bosnia & Herzegovina

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Boiler and Fireplace Sales (EKOLINE Product Lines): Manufacturing and sale of pellet boilers (EKOLINE HOME 20-50kW, EKOLINE INDUSTRY 75-600kW), fireplaces (EKOLINE KAMINI 7.5-11kW), and pellet stoves for residential, commercial and industrial heating.
2. Heat Pump Sales: Sale of air-to-water heat pumps (MMHP series 8-26kW) for heating and cooling of residential and commercial spaces.
3. Metal Processing Services: Metal processing and manufacturing services including metal galantery, constructions, laser cutting of sheets, galvanic cold zinc plating, and industrial equipment manufacturing (oil-gas separators, copper granulation plants).
4. Galvanic/Zinc Plating Services: Galvanic cold zinc plating services using Atotech technology for corrosion resistance on steel, alloy steel, grey cast iron, copper and copper alloys. Pricing per kg or piece based on project-specific calculations.
5. Siemens Product Resale: Resale/distribution of Siemens electromotors, variable frequency drives, starters, SIMATIC controllers, and Flender/Simogear couplings and gearboxes.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

KOVAN GROUP d.o.o. manufactures and sells EKOLINE-branded pellet boilers, pellet fireplaces, air-to-water heat pumps (MMHP series), and HVAC fan coil units for residential, commercial, and industrial heating. The company also provides metal processing services including laser sheet cutting, galvanic zinc plating, and custom metal fabrication, and distributes Siemens industrial automation products as an authorized partner.

Product overview

KOVAN GROUP d.o.o. is a metal industry company specializing in manufacturing pellet boilers, fireplaces, and heat pumps for heating residential, commercial, and industrial spaces using renewable energy sources like biomass pellets. The product portfolio is organized into several main categories: (1) EKOLINE HOME pellet boilers (20-50 kW) for residential/commercial heating; (2) EKOLINE INDUSTRY industrial hot-water boilers (75-600 kW) for larger facilities; (3) EKOLINE fireplaces/stoves with air and water heat exchanger variants (7.5-11 kW); (4) MMHP-series heat pumps (8-26 kW) featuring Panasonic compressors with up to 75% electricity savings; (5) HVAC fan coil units including cassette and wall/ceiling units; (6) accessories including external temperature sensors, room thermostats, pellet container extensions, and vacuum cleaners; and (7) metal processing services including laser cutting, galvanic zinc plating, and general metal fabrication. Additionally, as a Siemens partner, Kovan offers Siemens industrial automation components including motors, drives, and PLCs.

Differentiator

Problem solved

Functional benefit

Brands

• EKOLINE: Product line of pellet boilers, fireplaces, and heating solutions including EKOLINE HOME (residential), EKOLINE INDUSTRY (industrial), EKOLINE KAMINI (fireplaces), and related heating equipment.

Products and services

• Toplotna pumpa MMHP-008B1 Air-to-water heat pump with 8 kW capacity for heating/cooling spaces up to 120 m2. Part of the MMHP series targeting residential and small commercial spaces.
• Toplotna pumpa MMHP-012B1 Air-to-water heat pump with 12 kW capacity for heating/cooling spaces up to 160 m2. Part of the MMHP series for residential and commercial applications.
• Toplotna pumpa MMHP-016B1 Air-to-water heat pump with 16 kW capacity for heating/cooling spaces up to 230 m2. Features Panasonic Scroll compressor, up to 75% electricity savings, silent operation below 50 dBa, built-in circulation pump, and 5-year warranty.
• Toplotna pumpa MMHP-020B1 Air-to-water heat pump with 20 kW capacity for heating/cooling spaces up to 300 m2. Part of the MMHP series for residential and commercial spaces.
• Toplotna pumpa MMHP-026B1 Air-to-water heat pump with 26 kW capacity for heating/cooling spaces up to 360 m2. Offers up to 75% electricity savings and silent operation below 50 dBa.
• EKOLINE KAMINI 7.5 kW Pellet fireplace with 7.5 kW output and automatic management, including GSM controller capability for ignition. Distributes warm air through front grates. Suitable for weekend homes and intermittently occupied spaces.
• EKOLINE KAMINI 11 kW Pellet fireplace with 11 kW output featuring water heat exchanger. Transfers 75% of energy to water for radiator heating and 25% to room heating. Includes all central heating components (pump, expansion vessel, valves).
• EKOLINE KAMINI ZRAK 10.5 kW Air-heating pellet fireplace with 10.5 kW output for eco-friendly heating of residential and commercial spaces. Heats approximately 100 m2.
• EKOLINE KAMINI VODA 10.5 kW Water-heating pellet fireplace with 10.5 kW output. Transfers 75% energy to water for radiator heating and 25% to room heating. Includes all central heating components for easy connection to heating system. Heats approximately 100 m2.
• EKOLINE KOTAO 10.5 kW Enhanced 10.5 kW pellet boiler designed for boiler rooms or unheated spaces. Insulated with rock wool to direct all thermal energy to heated spaces.
• EKOLINE HOME 20 kW Pellet boiler up to 20 kW for heating residential and commercial spaces up to 180 m2. Available in left and right configurations. Consumes 3-6 tons of pellets per heating season on average.
• EKOLINE HOME 35 kW Pellet boiler up to 35 kW for heating residential and commercial spaces up to 250 m2. Available in left and right configurations. Consumes 4-8 tons of pellets per heating season on average.
• EKOLINE HOME 50 kW Pellet boiler up to 50 kW for heating residential and commercial spaces up to 350 m2. Available in left and right configurations. Consumes 5-10 tons of pellets per heating season on average.
• EKOLINE INDUSTRY 75-150 kW Hot water industrial boiler for central heating of larger residential, commercial, and industrial buildings, with capacity 75-150 kW. Ideal for industrial processes requiring large quantities of warm water. Enables 15-40% cost savings with fully automated boiler management.
• EKOLINE INDUSTRY 200-600 kW Large-scale hot water industrial boiler for central heating of industrial facilities and residential blocks, with capacity 200-600 kW.
• Parapetno-podplafonski ventilokonvektori (Wall/Ceiling Fan Coils) Wall and ceiling-mountable EKOLINE fan coil units for residential, commercial, and industrial spaces. Heating capacity up to 8.23 kW and cooling capacity up to 7 kW with quiet operation.
• Kasetne jedinice (EKOLINE Cassette Fan Coil Units) EKOLINE cassette fan coil units with capacity range from 4 kW to 9.66 kW. Features four-way air distribution for even temperature, compact design for suspended ceilings, and dual-pipe system.
• Lasersko sječenje limova (Laser Sheet Cutting Service) Laser sheet cutting service using TRUMPF TruLaser 30-30 4000W with 1500x3000mm work surface. Cutting capabilities: stainless steel up to 15mm, aluminum up to 10mm, black steel up to 20mm. Quality assurance per EN ISO 9000-13 standard.
• Galvansko-hladno cinčanje (Galvanic Cold Zinc Plating Service) Automatic galvanic zinc plating service using Atotech technology (since 2005). Plating of low-alloy structural steels, alloyed steels, gray cast iron, copper, and copper alloys. Rack plating (max 1400x800x400mm, 5-25 micron coating) and barrel plating (min 1.5mm diameter, 5-12 micron coating). Blue, yellow, and black chromating passivation compliant with ELV and RoHS EU directives.
• Obrada i prerada metala (Metal Processing and Fabrication) Comprehensive metal fabrication services including household metalware, umbrella stands and structures, complex constructions such as oil-gas separators and copper granulation plants. Notable project with Nordox (Norway) for complete copper granulation plant manufacturing and installation.
• Siemens Industrial Automation Products Distribution Authorized Siemens partner offering IE3/IE4 energy-efficient electric motors (SIMOTICS), motor protection circuit breakers, contactors and controllers (SIRIUS), frequency converters (SINAMICS V20, G120C, G120), soft starters (3RW), programmable logic controllers (SIMATIC S7-1200, S7-1500, LOGO!), distributed periphery (ET200S, ET200SP), IO Link and PROFINET communications, Flender and Simogear couplings and gearboxes.

Quantifiable outcome

• EKOLINE Industry boilers enable 15-40% financial savings in central heating
• +5 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered core and minor.

• SiemenscoreChannel Partner/ Reseller/ DistributorKovan Group is a Siemens partner, distributing Flender and Simogear lines of couplings, geared motors, and reducers. Large stock of Siemens SIMOTICS electromotors (IE3 efficiency) and new generation low-voltage motors on reluctant principle 1FP1 series. Also distributes SINAMICS variable frequency drives, SIRIUS motor protection circuit breakers and contactors, SIMATIC S7 1200 controllers, and LOGO! logic units.
• Nordox (Norway)minorStrategic or Co-development PartnerNordox from Norway awarded Kovan Group a contract for manufacturing and installation of a complete copper granulation plant. This project serves as proof of the company's successful track record and customer satisfaction.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Daikin: Global HVAC and heat pump leader with extensive European footprint. Direct competitor to KOVAN's MMHP air-to-water heat pump line in EU markets, with established installer networks and substantially larger R&D and marketing budgets.
• Bosch Thermotechnology: Division of Bosch producing heating systems and hot water solutions, including biomass boilers and heat pumps. Competes with KOVAN across both EKOLINE boilers and MMHP heat pumps, with much broader product portfolio and stronger distribution.
• Viessmann: German-headquartered global heating, industrial, and refrigeration systems manufacturer. Directly competes with KOVAN's EKOLINE pellet boilers and MMHP heat pumps in the European residential and commercial heating market, but operates at vastly larger scale across a full HVAC portfolio.
• Vaillant: European heating, ventilation, and air-conditioning manufacturer with strong heat pump and condensing boiler presence. Competes with KOVAN's MMHP heat pumps and EKOLINE boiler lines for residential and commercial heating customers in EU markets.
• Mitsubishi Electric: Global manufacturer of air-conditioning and heating systems including Ecodan air-to-water heat pumps. Direct competitor to KOVAN's MMHP series in the European heat pump market, with much larger scale and an established installer and service network.

Direct peers

• ETA Heiztechnik: Austrian manufacturer of biomass heating systems (pellet, wood-chip, log boilers). Direct competitor to KOVAN's EKOLINE biomass boiler portfolio, with comparable technology positioning and overlapping customer segments across DACH and broader EU markets.
• Herz Energietechnik: Austrian manufacturer of biomass boilers, pellet stoves, and heat pumps. Direct competitor to KOVAN's EKOLINE pellet boilers, EKOLINE KAMINI fireplaces, and MMHP heat pumps in the European residential and small commercial heating market.
• KWB: Austrian specialist in biomass heating systems (pellet, wood-chip, log boilers and combined heat/power). Closely comparable to KOVAN's EKOLINE biomass boiler and industrial boiler segment, also serving residential, commercial, and industrial heating customers across Europe.
• Froling: Austrian specialist manufacturer of biomass heating systems (pellet, wood-chip, log boilers). Closely comparable to KOVAN's EKOLINE pellet boiler and fireplace product line, with overlapping residential and commercial/commercial-industrial customer segments across Europe.
• Windhager: Austrian manufacturer of biomass heating solutions including pellet boilers and heat pumps. Direct competitor to KOVAN in pellet boilers and increasingly in heat pumps, with similar target customers (residential, small commercial) and similar EU-market go-to-market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/kovan-group

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

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 KOVAN