Øko AS

What Øko AS does

Øko AS is a privately held Norwegian installer of water-based heating and cooling systems (vannbåren varme og kjøling) headquartered in Vågsbygd, Kristiansand, and operating throughout the Agder region of Southern Norway. Founded in 1998, the company specializes in design, supply, and installation of geothermal (brine-to-water / væske-vann), air-to-water (luft-vann), and air-to-air heat pumps, electric boilers, wood boilers, and district heating connections, distributed via partnerships with leading Nordic and international manufacturers including NIBE, Daikin, Thermia, Vaillant, Panasonic, Mitsubishi, and Toshiba. Complementary offerings include water-based underfloor heating, fan coil cooling units, smart thermostats with app control, snow melting systems, pool heating via solar collectors and heat pumps, and swimming pool installations.

The company serves two primary customer segments: private homeowners seeking residential heating, cooling, and convenience solutions, and commercial customers including housing cooperatives, office buildings, production facilities, and community buildings. Its commercial segment is anchored by case-study evidence such as the Sameiet Fuhr Park 1 housing cooperative (40 apartments in Grimstad), where a switch from electric boiler to NIBE ground-source heat pumps with eight energy wells achieved a 73.6% reduction in electricity consumption. The company also provides ongoing service and maintenance agreements, generating recurring revenue tied to its 20+ year equipment lifespans.

The business model is project-based, sales-led, and quote-driven, with revenue streams spanning professional installation services, hardware resale of branded heat pump equipment, and recurring service contracts. Pricing is not publicly disclosed; quotes are tailored to building size and system specification. Marketing relies on the company's website, a Facebook presence, and 26+ years of regional reputation in Agder rather than paid acquisition. The firm holds the Sentralt Godkjent government certification, NovaP approved dealer status, and Achilles Startbank registration, supporting credibility with both residential and commercial buyers.

Name

Øko AS

Legal name

Øko AS

Website

https://oko-as.no

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

1–10 employees

Short description

Øko AS is a Norwegian HVAC installer founded in 1998, specializing in water-based heating and cooling systems — including geothermal, air-to-water, and air-to-air heat pumps — for residential and commercial customers across the Agder region of Southern Norway.

Ownership category

akta.pro rank

Product category

Heating and Cooling Installation Services

NAICS

Plumbing, Heating, and Air-Conditioning Contractors (238220)

SIC

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

akta.pro primary industry

Hydronic/Baseboard Radiant Heating Service (HSAOACAE)

akta.pro secondary industries

Heat Pump & Smart HVAC Controller Integration (HSAOANAD), Chillers, Boilers & Central Plant Operations (BPABACAG)

Keywords

• Water-based heating
• Heat pump installation
• Underfloor heating systems
• HVAC installation services
• Geothermal heating solutions

Headquarters

HQ city

Kristiansand

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Heat Pump and Heating System Installation: Design, supply, and installation of complete water-based heating systems including ground source heat pumps, air-to-water heat pumps, electric boilers, and wood-fired boilers. Projects range from single-family homes to large commercial buildings.
2. Product Sales: Sale of heating equipment including heat pumps (NIBE, Daikin, Vaillant, Panasonic, Mitsubishi, Thermia), smart thermostats, control systems, radiators, fan coils, and accessories.
3. Service and Maintenance Agreements: Ongoing service contracts tailored to individual installations to maintain optimal operating conditions and extend system lifespan.
4. Remote Heating/Cooling System Control: App-based monitoring and control of heat pump systems including remote start of snow melting systems.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Øko AS designs, supplies, and installs complete water-based heating and cooling systems for residential and commercial buildings in the Agder region of Norway. Its core offerings include brine-to-water (geothermal) heat pumps, air-to-water heat pumps, electric boilers, and wood-fired boilers combined with water-borne underfloor heating, fan coil cooling units, smart thermostats with app-based control, snow melting systems, and swimming pool heating solutions. Equipment is sourced from leading manufacturers such as NIBE, Daikin, Thermia, Vaillant, Panasonic, and Mitsubishi, and the company provides end-to-end services from consultation and design through installation to ongoing maintenance.

Product overview

Øko AS is a water-borne heating and cooling systems company offering comprehensive HVAC solutions for residential and commercial buildings. The product portfolio centers on three main heat source categories: brine-to-water heat pumps (geothermal/energy wells), air-to-water heat pumps, and electric boilers, complemented by wood boilers and district heating connections. Supporting infrastructure includes water-borne underfloor heating, fan coil units for heating/cooling, smart thermostats with app control, and specialized systems for snow melting and pool heating. The company distributes and installs products from major brands including NIBE (Nordic market leader), Daikin, Thermmia, Vaillant, Mitsubishi, Panasonic, and Toshiba. Founded in 1998 with over 1,000 installations completed, the company also offers private swimming pools, solar collectors, and service agreements.

Differentiator

Problem solved

Functional benefit

Products and services

• Brine-to-Water Heat Pump (Væske-vann varmepumpe) Geothermal/brine-to-water heat pump that extracts energy from stable sources such as rock, lakes, or ground heat via energy wells. Marketed as the 'Rolls Royce' of heat pumps with 20+ year lifespan and highest (S)COP. Provides passive cooling as a bonus during summer months. Sold and installed for residential and commercial customers in the Agder region.
• Air-to-Water Heat Pump (Luft-vann varmepumpe) Air-to-water heat pump positioned as the most cost-effective water-borne heating solution, hitting the optimal balance between investment cost and energy savings. Installed for residential and commercial customers, with products sourced from NIBE, Daikin, Vaillant, Thermia, Panasonic, and Mitsubishi.
• Air-to-Air Heat Pump (Luft-luft varmepumpe) Air-to-air heat pump providing heating in winter and air conditioning/cooling in summer. Available in various models including Toshiba Signature, Toshiba Seiya Nordic, Daikin Emura, and floor-standing units, for residential customers.
• Electric Boiler (El-kjele) Electric boiler serving as an entry-level water-borne heating solution, available from 4 kW to 600 kW or more. Cost-competitive with traditional heating cables while providing future flexibility to add renewable energy sources. Includes the Eco-Central product line.
• Wood Boiler (Vedkjele) Wood boiler with large wood storage magazine for properties with access to firewood, including Attack SLX models. Delivered as complete systems with boiler, accumulator tank, chimney, and control system, distributing heat through underfloor heating, radiators, and/or convectors.
• Wood Stove with Water Jacket (Vedovn med vannkappe) Wood stove equipped with a water jacket that captures heat from combustion and transfers it to a water-borne heating system, combining traditional wood-burning with hydronic distribution.
• Water-Borne Underfloor Heating (Vannbåren gulvvarme) Water-borne underfloor heating system providing comfortable, even warmth with floors typically 2°C higher than room temperature, creating ideal heat distribution (warmest at feet, coolest at head). Designed and installed by Øko AS for residential and commercial buildings.
• Water-Borne Cooling (Vannbåren kjøling) Discrete, low-noise, and effective building cooling through fully integrated cooling units. Includes passive cooling using energy wells (10–40 W) and active cooling using heat pumps to generate ice-cold water. Distributed via fan coil units.
• District Heating (Fjernvarme) Complete district heating system installations including heat interface units, heat exchangers, water-borne underfloor heating/radiator systems, control systems, and circulation pumps. Connects buildings to Agder Energi's district heating infrastructure in parts of Kristiansand.
• Swimming Pools (Svømmebasseng) Private swimming pools available in various models (Sylt, Athen, Capri, Granada, Ischia, Kos, Kuba, Lipari, Mainau, Malediven, Mallorca, Mauritius, Menorca, Palma, Rügen, Samoa). Includes pool heating, counter-current swimming systems, and configuration services.
• Snow Melting Systems (Snøsmelt) Snow melting systems for driveways, walkways, and stairs using glycol-filled pipes installed under the ground. Controllable via timer or smartphone app with rain/snow and temperature sensors for automatic operation.
• Energy Wells (Energibrønn) Energy wells for geothermal heat extraction via boreholes, providing stable +7°C to +9°C temperatures year-round for efficient heat pump operation and passive cooling. Deployed as 8-well systems at sites like Sameiet Fuhr Park 1.
• Smart Thermostats and Smart Home (Smarte termostater og smarthus) Smart thermostat and home automation systems ranging from simple thermostats to sophisticated home automation with app-based control of heat pumps, including remote monitoring, energy optimization, and remote start of snow melting systems.
• Pool Solar Collectors (Solfanger til basseng / Elecro Thermecro) High-efficiency vacuum tube solar collectors from Elecro (Thermecro line) for pool heating. Available in 16, 32, and 48 tube configurations suitable for 10, 20, and 30 m³ pools respectively. Transfers 92% of solar radiation energy to pool water and functions with indirect sunlight and overcast summer days.
• Pool Heat Pumps (Bassengvarmepumpe) Dedicated heat pumps designed for swimming pool heating, offered alongside solar collectors to extend the swimming season and reduce pool heating energy costs.
• Service Agreements (Serviceavtaler) Customized service agreements for individual installations to ensure continued good operating conditions and extended lifespan of heating and cooling systems. Includes remote monitoring and control of heat pump systems via app.

Quantifiable outcome

• 73.6% reduction in electricity consumption for heating (Sameiet Fuhr Park 1 case study)
• +4 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Four partnerships are on record, tiered core.

• NIBEcoreTechnology or IntegrationNIBE is the Nordic region's largest manufacturer of residential heating solutions and among Europe's leading heat pump producers. Øko AS installs NIBE ground source and air-to-water heat pumps as part of their core product offerings, including models like NIBE S1255 and NIBE F1355/F1345 systems.
• DaikincoreTechnology or IntegrationJapanese heat pump manufacturer with over 84,000 employees and revenue exceeding 235 billion kroner in 2021. Daikin Altherma GEO ground source systems are offered by Øko AS.
• ThermiacoreTechnology or IntegrationSwedish heat pump manufacturer producing heating, hot water, and cooling solutions. Manufacturing facilities primarily in Värmland county, Sweden. Offered as part of Øko AS product lineup.
• VaillantcoreTechnology or IntegrationGerman heat pump manufacturer with history dating back to 1874. Recognized European brand providing heating solutions. Øko AS installs Vaillant products including flexoCOMPACT systems.

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• CTC Enertech: Swedish manufacturer of heat pumps, boilers, and integrated heating systems distributed in Norway. CTC's product portfolio (ground source, air-to-water, wood boilers) closely overlaps with Øko AS's offering and competes for the same end customers.
• Thermia Värmepumpar: Swedish heat pump manufacturer (Atlas, Diplomat product lines) that is both an Øko AS supplier brand and a competitor through its own Scandinavian dealer/installer network, offering similar ground-source and air-to-water systems.
• IVT (Bosch Thermoteknik): Nordic heat pump brand now owned by Bosch, selling comparable ground-source and air-to-water systems through authorized installer networks that directly overlap with Øko AS's residential and commercial target segments in Scandinavia.

Broad incumbents

• Daikin Norway: Global HVAC manufacturer operating in Norway with Daikin Altherma ground-source and air-to-water heat pumps. Both a supplier partner to Øko AS and a broad incumbent competing for Norwegian installation projects via its own dealer network.
• NIBE Energy Systems: Nordic market-leading heat pump manufacturer and a direct supplier to Øko AS. NIBE competes both as a brand-source for installers and increasingly through its own authorized installer networks, making it a relevant incumbent peer in the same product category.
• Panasonic Heating & Ventilation (Norway): Global HVAC manufacturer with Nordic presence, offering Aquarea air-to-water heat pumps. A supplier brand for Øko AS and a broader incumbent competing for residential installation contracts across Scandinavia.
• Mitsubishi Electric (Norway): Japanese HVAC manufacturer selling Ecodan and other heat pump systems in Norway. Both a supplier brand to Øko AS and a broad incumbent competing through its own installer network in similar residential and light-commercial projects.
• Vaillant Norge: German heating brand with established Norwegian presence, offering heat pumps and hybrid heating systems (e.g., flexoCOMPACT). A supplier partner to Øko AS and a broader incumbent competing in the same end-customer market.

Regional players

• Agder Energi: Regional energy company and Øko AS partner, operating district heating (fjernvarme) networks in parts of Kristiansand. Competes for the same Agder-region commercial heating budget but through a centralized infrastructure model rather than on-site installations.
• Fortum Varme: Major Nordic district heating provider operating in the Oslo region and other Norwegian urban areas. Represents an alternative central-heating model that competes for commercial heating customers that might otherwise choose on-site heat pump installations like those Øko AS delivers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/OkoAS
• LinkedInlinkedin.com/company/%C3%B8ko-as

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 Øko AS