ThermoFLUX

What ThermoFLUX does

ThermoFLUX d.o.o. is a privately-held heating, ventilation, and air conditioning (HVAC) equipment manufacturer headquartered in Jajce, Bosnia and Herzegovina, founded in 2007 and operating from a single-site, 30,000 m² production campus employing over 200 workers. The company designs and manufactures a broad hardware portfolio spanning pellet boilers (Ecologic Plus, Pelling, Interio), solid-fuel boilers (TK), industrial pellet boilers (Ecologic 130), pellet and wood stoves (Agnes, Adele, Elegance Air, Agnes Wood), central-heating fireplaces (Elegance, Interio), monoblock and split heat pumps (R32, R410, R290, pool variants), storage tanks, electric water heaters, and split-system air conditioners (SmartComfort R32). Production is built on CNC machining, robotic cells, laser cutting and bending, and automated painting lines, with a proprietary WiFi control module that enables remote monitoring and adjustment of boilers and stoves via consumer and installer smartphone applications.

The company generates revenue primarily through hardware sales of heating and cooling equipment via direct sales from its Jajce headquarters, regional dealer and distributor networks, and international export channels, with a significant share of production exported to EU markets and listed on state subsidy programs in several EU countries. Primary customers are residential homeowners seeking energy-efficient central heating, domestic hot water, and increasingly cooling solutions, with a secondary segment of industrial facilities using higher-capacity pellet boilers such as the Ecologic 130. Service and maintenance of installed equipment, alongside the WiFi app ecosystem, constitute secondary, smaller revenue streams layered on top of the hardware business. The legal entity is a Bosnian d.o.o. (private limited liability company), privately held with no disclosed parent, subsidiaries, or external institutional investors, and the management team is not publicly identified in the available data.

Name

ThermoFLUX

Legal name

ThermoFLUX d.o.o.

Website

https://www.thermoflux.ba

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

101–250 employees

Short description

ThermoFLUX is a Bosnia and Herzegovina-based HVAC manufacturer producing pellet and solid-fuel boilers, stoves, fireplaces, heat pumps, air conditioners, tanks, and water heaters at a 30,000 m² facility in Jajce, exporting to EU markets and selling to residential homeowners and industrial customers via direct, dealer, and distributor channels.

Ownership category

akta.pro rank

Product category

Heating Equipment Manufacturing

NAICS

Heating Equipment (except Warm Air Furnaces) Manufacturing (333414), Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Power Boiler and Heat Exchanger Manufacturing (33241)

SIC

Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures (3430), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Heating Equipment, Except Electric & Warm Air Furnaces (3433)

akta.pro primary industry

Boilers, Furnaces & Process Heating Equipment (IMAHAKAD)

akta.pro secondary industries

Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC), Refrigeration Components & Controls (Compressors, Valves, Sensors) (IMAHAKAH)

Keywords

• Pellet boilers
• Heating equipment
• Heat pumps
• Solid fuel boilers
• Electric water heaters

Headquarters

HQ city

Jajce

HQ country

Bosnia & Herzegovina

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Heating Equipment Sales: Revenue generated from manufacturing and selling heating equipment including boilers (pellet, solid fuel, industrial), stoves, heat pumps, water heaters, tanks, and air conditioners. Products are sold through direct sales, dealers, and distributors primarily in Bosnia and Herzegovina and exported to EU markets.
2. WiFi Module and App Services: Mobile applications for controlling heating devices, including both consumer app and specialized installer/service technician app. Additional revenue from service and maintenance of installed equipment.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

ThermoFLUX designs and manufactures energy-efficient heating, cooling, and hot-water equipment from its Jajce facility in Bosnia and Herzegovina. The portfolio spans pellet boilers, solid-fuel boilers, industrial boilers, central heating fireplaces, pellet and wood stoves, monoblock and split heat pumps, storage tanks, electric water heaters, and inverter air conditioners. Products are sold under the ThermoFLUX brand through direct sales, regional dealers, and export channels reaching EU subsidy programs, with select appliances equipped with WiFi-based smart control.

Product overview

ThermoFLUX is a heating solutions manufacturer offering a comprehensive portfolio of energy-efficient heating products. The product range includes pellet boilers (Ecologic Plus, Pelling, Interio), solid fuel boilers (TK), and industrial boilers (Ecologic 130) for various heating needs. For residential aesthetics, they offer pellet stoves (Agnes, Adele, Elegance Air), wood stoves (Agnes Wood), and central heating fireplaces (Elegance, Interio). The heat pump lineup features monoblock units (R32, R410, R290) and split systems for underfloor and radiator heating. Supporting products include stainless steel accumulation tanks, DHW tanks, and combined tanks, as well as electric water heaters (Slim, Classic) with compact designs. The SmartComfort R32 air conditioner with WiFi control rounds out the product family for complete climate management. WiFi-enabled apps allow remote control of compatible boilers and fireplaces.

Differentiator

Problem solved

Functional benefit

Products and services

• Elegance Air Minimalist design hot-air pellet stove offering airy elegance for contemporary homes.
• Agnes Wood Wood stove combining warmth and elegance where comfort meets aesthetics.
• Split Heat Pump R410A Two-part split heat pump design with outdoor and indoor unit for better freeze protection, offering excellent price-to-quality ratio.
• Monoblock R32 Monoblock heat pump featuring CAREL touch screen technology for intuitive operation and maximum control.
• Ecologic Plus Technologically advanced automatic pellet boiler for residential and light industrial heating.
• Pelling Modern pellet boiler designed for heating residential and smaller industrial buildings.
• Interio (pellet boiler) Modern-designed pellet boiler intended for users with limited space, requiring minimal installation.
• TK Kotao Solid fuel boiler made from quality steel sheet designed for heating residential and smaller buildings.
• Ecologic 130 Automatic pellet boiler for heating industrial or larger residential buildings.
• Elegance Modern fireplace for central heating combining advanced technology and high energy efficiency.
• Interio (fireplace) Pellet fireplace with practical and classic design, ideal heating solution for various spaces.
• Agnes Award-winning pellet fireplace combining innovative design with premium technology, featuring WiFi management and extended warranty.
• Adele Modernly designed premium quality pellet stove with timeless elegance for pleasant ambience.
• Monoblock R410 Monoblock heat pump with excellent price-to-quality ratio and high-quality construction.
• High-Temperature Monoblock R290 Eco-friendly heat pump using R290 refrigerant with low global warming potential for high-temperature applications.
• Pool Heat Pumps Heat pumps for efficient pool heating with inverter technology and quiet operation.
• Stainless Steel Combined Tanks (GHS 200/60, GHS 250/100) Stainless steel combined tanks serving as accumulation buffer and domestic hot water preparation in a single unit, suitable for connection with heat pumps.
• Slim Electric Water Heater Compact electric water heater with dual tank for faster heating, featuring stainless steel heater and safety protection against overheating and excessive pressure.
• Classic Electric Water Heater Reliable electric water heater combining modern design, advanced technology and premium energy efficiency with stainless steel heater for long-lasting operation.
• SmartComfort R32 Split system inverter air conditioner with integrated electric heater in outdoor unit, featuring WiFi 3.0 control and up to 30% energy savings, rated A+++ energy class.

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• InovaminorChannel Partner/ Reseller/ DistributorInova is listed as a heat pump brand in the ThermoFLUX product lineup alongside their own heat pump products, suggesting a distribution or reseller relationship for heat pump products.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Viessmann: German family-owned manufacturer of heating, industrial and refrigeration systems including boilers, heat pumps and HVAC. Directly comparable across ThermoFLUX's boiler and heat pump lines and a benchmark for European scale players.
• Bosch Thermotechnology: Division of Bosch producing boilers, heat pumps and HVAC under brands such as Buderus and Worcester. Comparable portfolio breadth across gas, biomass, and electric heating technologies.
• Vaillant Group: European heating manufacturer (Vaillant, Saunier Duval, Protherm) covering gas boilers, heat pumps and hybrids. Directly comparable product categories and EU distribution footprint.

Direct peers

• Windhager: Austrian specialist in pellet, wood chip and log boilers for residential and commercial heating. Closely matches ThermoFLUX's pellet/solid-fuel boiler core with a similar design- and quality-led positioning.
• Ökofen: Austrian pioneer of condensing pellet boilers with strong European brand recognition. Direct overlap with ThermoFLUX's pellet boiler portfolio and eco-efficiency positioning.
• Fröling: Austrian manufacturer of biomass heating systems (pellet, wood chip, log boilers) and combined heat/power units. Highly comparable to ThermoFLUX's industrial and residential biomass boiler lines.
• HARGASSNER: Austrian/Austro-German pellet and wood chip boiler manufacturer with EU-wide distribution. Comparable product mix and emphasis on premium build quality and design.
• NIBE Energy Systems: Swedish heat pump manufacturer serving European residential and commercial markets. Comparable to ThermoFLUX's growing heat pump segment and EU subsidy-driven distribution model.
• MCZ Group: Italian manufacturer of pellet stoves, fireplaces and biomass boilers with pan-European distribution. Closely matches ThermoFLUX's stove/fireplace/boiler portfolio and design-led brand positioning.
• Palazzetti: Italian pellet stove and fireplace manufacturer exporting across Europe. Comparable in product mix (pellet stoves/fireplaces) and export-driven EU go-to-market approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Thermoflux
• LinkedInlinkedin.com/company/thermoflux-d-o-o-jajce

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 ThermoFLUX