Thermonova
Thermonova is a Danish manufacturer of modular R290 heat pump systems (45-1320 kW) for commercial, agricultural and light-industrial buildings across Europe, distributed partly through Solar Group Industrial Solutions and a growing partner network.
- Company typePrivate
- Founded2016
- HeadquartersAars, Denmark
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Thermonova does
Thermonova A/S is a Danish thermal engineering company founded in 2016 and headquartered in Aars, Denmark, where it designs and manufactures modular heat pump systems for the European commercial, agricultural and light-industrial markets. The company sells three core product lines under sub-brands: the Nova Series (modular air-to-water heat pumps scalable from 45 kW to 1,320 kW), the Geonova ground-source heat pump (35-65°C supply temperature, using proprietary Smart Liquid Injection) and the HTHP high-temperature water-to-water heat pump (up to 85°C output for industrial heat recovery). All systems use R290 (propane) natural refrigerant and are built in-house with climate-chamber testing, differentiating Thermonova from competitors by focusing on the underserved mid-power commercial segment rather than residential or large-industrial applications.
Thermonova generates revenue primarily through hardware sales of custom-configured modular systems, supplemented by technical and project support services delivered to channel partners. Pricing is quote-based and project-specific, with multi-year commercial contracts typical. The go-to-market combines direct enterprise sales across continental Europe with a partner program for distributors, wholesalers, installers and HVAC professionals; in Denmark, Norway, Sweden, the Netherlands, Poland, Greenland and the Faroe Islands, distribution is handled by Solar Group's Industrial Solutions division following Solar Group's 2023 acquisition of a 50% stake. Named enterprise customers include Salling Group (Netto logistics, 880 kW installation in Germany), Ambercon (660 kW Danish manufacturer), Heriot Watt University (220 kW UK student accommodation), the University of Lincoln, Solar Group's own warehouse and Hillingdon Leisure Centre in London.
The company is privately held, with co-founders Mads Hougaard (CEO) and Steen Fristrup (CTO) - both veterans of Scandinavian heat pump manufacturing - remaining in leadership, alongside a board chaired by Christian Jørgensen and Solar Group's Claus Sejr. Operations are run by a team of around 11 employees covering R&D, production (led by Alex Laursen), export (Laurent Aupetit Bjerre), Germany-focused business development (Kaj Gustav Gimm) and global brand management (Neil Hester). The Thermonova name and logo are registered trademarks in the EU and UK, and the company exhibits at sector events such as Chillventa 2026 in Nuremberg as part of its Europe-wide expansion push.
Thermonova firmographics
Firmographics- Name
- Thermonova
- Legal name
- Thermonova A/S
- Website
- https://thermonova.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Thermonova is a Danish manufacturer of modular R290 heat pump systems (45-1320 kW) for commercial, agricultural and light-industrial buildings across Europe, distributed partly through Solar Group Industrial Solutions and a growing partner network.
- Ownership category
- akta.pro rank
Thermonova industry classification
Industry- Product category
- Commercial Heat Pump Systems
- NAICS
- Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414)
- SIC
- Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Heating Equipment, Except Electric & Warm Air Furnaces (3433)
- akta.pro primary industry
- Heat Pumps (Air/Water/Ground Source) (IMAHAKAF)
- akta.pro secondary industries
- Heat Exchangers & Thermal Transfer Equipment (IMAHAKAC), Heat Exchangers, Coils & Hydronic HVAC Components (IMADANAF)
Keywords
Where Thermonova is headquartered
LocationHeadquarters
- HQ city
- Aars
- HQ country
- Denmark
- HQ region
- Europe
Offices1 record
Markets served
Thermonova business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Heat Pump Hardware Sales: Sale of modular heat pump systems (Nova Series, GeoNova, HTHP) to commercial, agricultural, and light-industrial customers. Products range from 45 kW to 1320 kW capacity.
- Technical and Project Support Services: Ongoing technical, project and marketing support provided to partners to drive faster sales and successful implementation.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom quotation based on system configuration and capacity requirements |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Thermonova product offering
Product offeringCore offering
Thermonova designs and manufactures modular air-to-water, ground-source, and high-temperature heat pump systems for commercial, light-industrial, and agricultural heating applications. The product portfolio includes the Nova Series (45-1320 kW), Geonova (ground-source 35-65°C), and HTHP (up to 85°C), all using natural refrigerant R290 (propane) and built at its Danish production facility in Aars.
Product overview
Thermonova is a thermal engineering company specializing in sustainable modular heat pump solutions for commercial, agricultural, and light-industrial sectors. The product portfolio comprises three core product lines: the Nova Series (air-to-water modular heat pumps ranging 45-1320 kW), Geonova (ground-source heat pumps with 35-65°C supply temperatures), and HTHP (high-temperature water-to-water heat pumps reaching up to 85°C for industrial heat recovery). All products feature R290 natural refrigerant, are designed and manufactured at the company's Danish production facility, and are suitable for both retrofit and new-build applications across Europe.
Differentiator
Problem solved
Functional benefit
Brands
- Nova Series: Thermonova's flagship modular air-to-water heat pump system for commercial and light-industrial applications, with configurations ranging from 45 kW to 1320 kW.
- Geonova
- HTHP
Products and services
- Nova Series Modular air-to-water heat pump system for commercial, light-industrial and local heat network retrofits or new-builds, with plug-and-play modular design, R290 natural refrigerant, and scalable configurations from 45 kW to 1320 kW.
- Geonova
Quantifiable outcome
- 510 tons CO₂ emissions reduced annually (Salling Group Netto warehouse)
- +10 more outcomes
Companies that use Thermonova
Customer profileNamed customers9 records
Segments12 records
Ideal customer profiles2 records
Thermonova technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
Thermonova partnerships and signals
Strategic signalScale indicators9 records
Recent moves7 records
Expansion highlights6 records
Thermonova competitors and assessment
Company assessmentBroad incumbents
- Viessmann: Major German heating technology manufacturer with a broad commercial and industrial heat-pump portfolio, deep European installer network, and far greater scale — competing with Thermonova on the same commercial-retrofit RFPs.
- Danfoss Climate Solutions: Danish-headquartered supplier of compressors, heat exchangers and controls used inside commercial heat pumps, including components that go into Thermonova-style systems; a comparable Danish-rooted thermal-equipment business with much broader scope.
- Panasonic Heating & Cooling (Europe): Supplies Aquarea commercial heat-pump systems across Europe with a wide installer base; competes with Thermonova for commercial-retrofit wins in hospitality, education and light-industrial segments.
- Bosch Thermotechnology: Global HVAC and heating-systems business selling commercial heat pumps across Europe under the Bosch, Buderus and IVT brands; overlaps Thermonova in commercial and district-heat segments but operates at vastly greater scale and channel breadth.
- Stiebel Eltron: German heating and heat-pump manufacturer with strong presence in European commercial and residential segments; competes with Thermonova in commercial retrofits but with a much larger product portfolio and distribution footprint.
- Daikin Europe: European arm of global HVAC leader Daikin, supplying commercial and industrial heat-pump systems; its Altherma and broader commercial lines directly compete with Thermonova for large-scale retrofit tenders across Europe.
- Mitsubishi Electric (Europe): Sells Ecodan air-source and commercial heat-pump systems across Europe through a broad installer channel, overlapping with Thermonova in commercial and educational facility decarbonisation projects.
Direct peers
- NIBE: Swedish manufacturer of heat pumps for residential, commercial and industrial applications across Europe with a similar modular/scalable philosophy and Scandinavian heritage, making it the most directly comparable peer to Thermonova's Nova Series product line.
- Kensa Heat Pumps: UK-based manufacturer of commercial and residential ground-source heat pumps with a modular, cascading architecture very similar to Thermonova's GeoNova — directly overlapping in target use cases and European commercial retrofit focus.
- Ochsner (CTA AG): Austrian manufacturer specialising in commercial and industrial heat pumps (including high-temperature and large-capacity models) using natural refrigerants; closely overlaps Thermonova in target segments (commercial, light-industrial, district heat) and natural-refrigerant approach.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Thermonova social profiles
Digital presenceThermonova financial estimates
Financial estimateRevenue estimate
Valuation estimate
Thermonova leadership team
Management profileNumber of profiles
Profiles9 records
Thermonova funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Thermonova 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 Thermonova
What does Thermonova do?
Thermonova designs and manufactures modular air-to-water, ground-source, and high-temperature heat pump systems for commercial, light-industrial, and agricultural heating applications. The product portfolio includes the Nova Series (45-1320 kW), Geonova (ground-source 35-65°C), and HTHP (up to 85°C), all using natural refrigerant R290 (propane) and built at its Danish production facility in Aars.
Is Thermonova a public or private company?
Thermonova is a private company. It is classified as corporate owned and is currently operating.
When was Thermonova founded?
Thermonova was founded in 2016. It employs 11 to 50 people.
Where is Thermonova based?
Thermonova is headquartered in Aars, Denmark, in the Europe region.
How does Thermonova make money?
Two revenue lines are on record. Heat Pump Hardware Sales are the primary driver. The others are technical and Project Support Services.
Who are Thermonova's main competitors?
Broad incumbents on record are Viessmann, Danfoss Climate Solutions, Panasonic Heating & Cooling (Europe), Bosch Thermotechnology, Stiebel Eltron, Daikin Europe and Mitsubishi Electric (Europe). Direct peers are NIBE, Kensa Heat Pumps and Ochsner (CTA AG).
Does Thermonova have an API?
No public API is recorded for Thermonova.
What industry is Thermonova in?
Thermonova's product category is Commercial Heat Pump Systems. Its primary akta.pro industry code is IMAHAKAF, Heat Pumps (Air/Water/Ground Source), with a secondary code of IMAHAKAC, Heat Exchangers & Thermal Transfer Equipment. Its NAICS code is 333415 and its SIC code is 3585.