Svalun As

What Svalun As does

Svalun AS is a Norwegian private company founded in 2020 and headquartered in Hamar, with additional operations in Skjetten and Porsgrunn. The company designs, finances, builds, owns, and operates geothermal-based energy central plants that deliver local, renewable thermal energy (heating, hot water, and cooling) to property developers, commercial building owners, housing cooperatives (borettslag), and apartment associations (sameier) across central and eastern Norway. Its core technology consists of 300–400 meter-deep energy wells drilled into bedrock, paired with heat pump systems (e.g., NIBE) that extract and amplify ground-source heat, delivering roughly three times the energy input as electricity and covering approximately two-thirds of a building's thermal demand from the ground. Svalun's business model is a utility-style 20-year energy delivery contract under which customers pay a monthly invoice with no capital outlay and no operational burden; Svalun retains ownership of the wells, heat pumps, and energy central and assumes all maintenance, service, and reinvestment responsibility. The company participates in the Norwegian government's Norgespris scheme, capping variable energy rates at 50 øre/kWh for residential customers. Ownership comprises Eidsiva Bioenergi, Akershus Energi, and key personnel, and the company works with a delivery ecosystem that includes Nordisk Energikontroll (engineering), Båsum Boring and Seabrokers Geoenergi (well drilling), and Byggenergi AS (heat pump installation).

Name

Svalun As

Legal name

Svalun AS

Website

https://svalun.no

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Svalun AS is a Norwegian geothermal energy company that designs, finances, builds, owns, and operates geothermal energy central plants under 20-year contracts, delivering heating, hot water, and cooling to property developers, commercial building owners, housing cooperatives, and apartment associations across Norway.

Ownership category

akta.pro rank

Product category

Geothermal Energy Services

NAICS

Steam and Air-Conditioning Supply (221330)

akta.pro primary industry

Geothermal Heat Pumps & Ground-Source Systems (Residential/Commercial, Drilling/Loop Installation) (EUAMAEAH)

akta.pro secondary industries

Geothermal Drilling & Well Construction (Production/Injection, Directional, Well Services) (EUAMAEAB), Geothermal Direct Use Heat Projects (District Heating, Greenhouses, Aquaculture, Industrial Heat) (EUAMAEAG)

Keywords

• Geothermal energy services
• District heating systems
• Thermal energy delivery
• Heat pump solutions
• Energy as a service

Headquarters

HQ city

Hamar

HQ country

Norway

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Thermal Energy Delivery Contracts: Svalun generates revenue through long-term energy delivery contracts (typically 20 years) with property developers, commercial building owners, housing cooperatives, and apartment associations. Customers pay a monthly invoice for heating, hot water, and optionally cooling. The energy price is discounted relative to spot electricity price, providing cost predictability. Svalun owns the entire energy infrastructure (wells, heat pumps, energy central) and is responsible for all maintenance, repairs, and reinvestments. The model is a managed services / utility-style recurring revenue stream where the customer avoids capital investment.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Svalun designs, finances, builds, owns, and operates turnkey geothermal-based energy central plants that deliver heating, hot water (tappevann), and optionally cooling to property developers, commercial building owners, housing cooperatives, and apartment associations across Norway. Customers enter long-term (typically 20-year) energy delivery contracts and pay a monthly invoice, with Svalun absorbing all investment, maintenance, and operational responsibility. The system uses 300-400m deep geothermal wells combined with heat pumps to deliver approximately three times more energy than the electrical input.

Product overview

Svalun As is a renewable energy company founded in 2020, headquartered in Hamar, Norway, offering a unified geothermal (bergvarme) energy solution. The core product portfolio comprises five integrated components: (1) Bergvarmebasert energileveranse — the primary service of delivering renewable thermal energy for heating, cooling, and domestic hot water via a customer-financed, Svalun-owned-and-operated model; (2) Energisentral — the energy central unit that Svalun finances, builds, owns, and maintains for a 20-year contract term, eliminating customer CapEx and operational burden; (3) Brønnpark (energibrønner) — geothermal well systems drilled 300–400 m into bedrock that supply approximately two-thirds of energy needs; (4) Varmepumpeanlegg — heat pump installations (e.g., NIBE) providing the remaining energy boost with ~92% coverage; and (5) Norgespris for nærvarme — a government-backed price guarantee add-on ensuring capped energy rates at 50 øre/kWh variable. The company serves property developers, commercial building owners, housing cooperatives (borettslag), and residential associations, operating six active energy centrals with multiple projects under construction across Norway.

Differentiator

Problem solved

Functional benefit

Products and services

• Geothermal Energy Delivery (Bergvarmebasert energileveranse) Svalun's primary service: long-term delivery of local, renewable, and environmentally friendly thermal energy for heating, hot water (tappevann), and cooling from geothermal sources. Approximately two-thirds of energy needs come from the ground and the rest from electrical energy, with the system delivering roughly three times more energy than the electrical input.
• Geothermal Energy Central (Energisentral) Svalun owns, invests in, and operates the energy central on the customer's site, including the well park, heat pumps, and associated infrastructure. The customer enters a 20-year contract and avoids all investment and maintenance costs.
• Geothermal Well Park (Brønnpark / energibrønner) Svalun arranges drilling of energy wells (300-400 meters deep) into bedrock to extract thermal energy. The well park feeds the energy central and subsequently the building's heating, hot water, and cooling systems.
• Heat Pump System (Varmepumpeanlegg) Heat pump installations (e.g., NIBE) that deliver heating and cooling to buildings, typically achieving an energy coverage rate of around 92%. Electric boilers serve as peak and reserve load.
• Norgespris for Near-Heating (Norgespris for nærvarme) A pricing scheme where the variable portion of the near-heating price is set to 50 øre/kWh incl. VAT (max 4,500 kWh/month for households). It provides predictable energy costs and access to government support schemes, administered by Svalun on behalf of customers including billing, collection, and government reporting.

Quantifiable outcome

• Geothermal heat pumps deliver ~3x more energy than electrical input — two-thirds of energy from the ground, one-third from electricity
• +8 more outcomes

Named customers17 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and major.

• Nordisk EnergikontrollcoreImplementation/ SI/ Consulting PartnerNordisk Energikontroll has designed and delivered energy central plants and geothermal well systems for multiple Svalun projects, including Oslo Kristne Senter (Kjeller), IFE Halden, Wiikgården Hemnes, and the Bulk/CTS Holmestrand facility. They are Svalun's primary engineering and installation partner for heat pump systems and energy centrals. They project, design, and deliver the heat pump energy systems that Svalun then owns and operates.
• Båsum BoringmajorImplementation/ SI/ Consulting PartnerBåsum Boring is contracted to perform geothermal well drilling for Svalun projects. For the Kvernstua project in Nittedal, Båsum Boring is drilling 26 energy wells to support the geothermal heating system.
• Byggenergi ASmajorImplementation/ SI/ Consulting PartnerByggenergi AS is contracted to supply and install heat pumps for the Kvernstua project in Nittedal, as per the agreement with Svalun. The heat pump equipment is provided and mounted by Byggenergi AS, while Svalun owns and operates the resulting energy central.
• Seabrokers GeoenergimajorImplementation/ SI/ Consulting PartnerSeabrokers Geoenergi performed the geothermal well drilling for the Wiikgården project in Hemnes, drilling 9 energy wells under and adjacent to the building in 2022.
• Norgespris (Norwegian Government Energy Price Scheme)majorStrategic or Co-development PartnerNorgespris is a Norwegian government scheme introduced to provide households and holiday homes with predictable prices on electricity and district/near-heating. Svalun participates in this scheme, offering customers a capped variable energy rate of 50 øre/kWh incl. VAT with a monthly consumption cap. Svalun administers the scheme on behalf of customers, including billing, collection, and government reporting. The scheme replaces the previous nærvarmeordning (near-heating support scheme) for Svalun customers.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Vardar AS: Viken region's district heating provider (Hafslund-owned). Operates thermal energy networks serving residential, commercial, and industrial customers in eastern Norway, overlapping geographically with Svalun's primary service area.
• Statkraft Varme AS: Statkraft's district heating division operating thermal energy networks across Norway. Comparable business model to Svalun with long-term energy delivery contracts to property developers, residential, and commercial customers.
• BKK Varme AS: BKK's district heating operations in Bergen, Norway. Delivers heating and hot water to residential, commercial, and industrial customers under long-term contracts; comparable to Svalun's thermal energy delivery model.
• Trøndelag Kraft AS: Regional energy company in Trøndelag with district heating operations. Provides thermal energy services to customers in central Norway under a long-term contract business model similar to Svalun.
• Agder Energi Varme AS: Agder Energi's district heating operations in southern Norway. Provides thermal energy services to residential and commercial customers under long-term contracts, similar to Svalun's owned-and-operated model.
• Eidsiva Bioenergi AS: Major Norwegian bioenergy and district heating company in the Innlandet region. Both an owner of Svalun and operates competing district heating infrastructure in overlapping markets, sharing a similar full-lifecycle thermal energy delivery model.
• Fortum Oslo Varme AS: Norway's largest district heating network in Oslo, serving residential, commercial, and industrial customers. Operates a similar thermal energy delivery business model with long-term contracts to Svalun, though at much larger scale and primarily with waste-to-energy and biomass heat sources.
• Lyse Energi AS: Norwegian energy company with district heating and cooling operations in the Stavanger region. Provides thermal energy services to buildings under long-term contracts, directly comparable to Svalun's model.

Others

• NIBE Energy Systems: Swedish heat pump manufacturer that supplies equipment to Svalun's energy central installations (e.g., Wiikgården uses NIBE heat pumps). As a key equipment vendor, NIBE is a strategic enabler for Svalun's operations rather than a direct competitor.

Broad incumbents

• Hafslund Eco AS: Major Norwegian utility group with broad energy services including district heating (via Vardar subsidiary), power, and grid operations. Larger and more diversified than Svalun but with overlapping district heating business in eastern Norway.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 Svalun As