Industrifonden invests in Airec

Industrifonden and the German investor RWE Innogy together are investing around SEK 25 million to become part owners of the expansive heat exchanger company Airec. Based in Malmö, Airec has developed and internationally launched totally new types of highly efficient, compact plate heat exchangers. The money will be used for international expansion.


Airec’s unique gas/liquid heat exchanger technology offers customers and users great advantages compared with traditional heat exchangers, including better price and performance. Higher efficiency and the compact design also allow for substantial energy savings and reduced emissions when the heat exchangers are integrated into various systems.

Airec’s heat exchangers are already used as a critical component to reduce CO2 emissions and to conserve energy in boilers, cogeneration power systems, aircraft turbines, various refrigeration and freezer systems, biogas and other processing systems. Airec is participating in a number of collaborative projects with large and global companies to integrate its technology in their systems.

In 2009 Airec received WWF's “Climate Solver Award” for its heat exchangers. The award is given to environmentally friendly innovations with the potential to reduce CO2 emissions.

“This is a very exciting product with major global potential,” said Stefan Jakélius, Investment Manager at Industrifonden. “The company is now in negotiations with several very interesting customers, which makes for a bright future.”

Founded in 2000, Airec has revenues of around SEK 20 million and sales in Europe and Asia. The plan is now to reach more international markets, including the U.S.

“We are pleased and proud to have Industrifonden and RWE Innogy as owners,” said Sven Persson, CEO and founder of Airec. “Aside from the significant cash infusion, we can benefit from their experience with industrial expansions and international business.”

In addition to Industrifonden and RWE Innogy, company founder Sven Persson and the previous owner, Teknoseed II, participated in the investment, which totaled around SEK 30 million. Innogy Renewable Technologies Fund is an investor affiliated with Germany's second largest energy company, RWE.

For more information, please contact:
Stefan Jakélius, Industrifonden Tel. +46 70 357 2120
Sven Persson, Airec Tel. +46 70 555 5635