Heaten investors step up to support growth of Europe’s leading industrial heat pump supplier

Shell Ventures, Nysnø, Azolla and Valinor continued to support Heaten with an investment that will accelerate the growth of the company.

“This investment will enable a substantial recruitment drive and scale up production with suppliers in support of Heaten’s existing pipeline of orders.”, says Peter van Giessel, Board member and partner at Shell Ventures. “This is a next step for Heaten in support of its vision to become a leading provider of next generation industrial heat pumps and to accelerate the decarbonisation of industrial heat.”

In 2024, Heaten will complete its series B round taking the company to series production on the back of a rapidly expanding order book from multiple industrial customers.

Heaten provides heat pumps to decarbonise industrial heat, supplying hot water or steam up to 200°C by using waste heat. The HeatBooster provides high efficiency with unmatched size and flexibility. The heat pumps range from 1 to 8 MW and can be combined to provide over 50 MW. The piston-based technology is mature, with earlier versions of the machine operating for more than 30,000 hours in the field.