Ambitious heat pump company opens German subsidiary, led by industry veteran
Swedish heat pump company Qvantum created quite a stir at the ISH trade show in Frankfurt in March. Qvantum’s vision to change the way the cities of Europe are heated was underlined by their brand-new apartment heat pump that won the ISH Design Plus Award.
Now Qvantum is opening a German subsidiary – led by German heat pump industry veteran Wolfgang Herold.
(Wolfgang Herold)
– The German market is crucial to us, says Qvantum CEO Fredrik Rosenqvist.
– Not because it is so big, but because it isn’t – yet. Especially not in urban areas. In the cold climate of the Nordic countries, heat pumps have dominated the market for the last 15-20 years, significantly reducing household energy use and CO2 emissions. With the increased interest in the energy transition in Germany, we feel that the time has come for the heat pump to show what an important role it can play here. Not least in multi-family houses and apartment buildings, especially in combination with low-temperature district heating systems. With low-temperature systems and the unique apartment heat pump, the citizens of Germany will be able to replace their gas boilers and reduce both CO2 emissions and costs.
The new company – Qvantum Energietechnik GmbH – will be led by Wolfgang Herold. Herold has more than 18 years of heat pump experience and has been in leading roles in Germany as well as in other European countries.
– I really look forward to the opportunity to introduce this new but experienced and highly innovative brand to the German market and make a mark, Herold says.
– Spreading knowledge about heat pumps is one of my driving forces. I genuinely want to create change and make things better. Qvantum is a company where this is a part of the DNA and not just words. That is why I am convinced that we will have a significant impact on the market.
The new company will be based in Bavaria and will work with installers and consultants nationwide in Germany.
Recruiting
– We will start recruiting immediately, building up an excellent team of heat pump professionals. We aim to create a workplace where people can grow as individuals. Qvantum's strategy is to let the best people do what they do best – with as little interference from management as possible. And this is something I genuinely agree with since many years. Trust and motivation work better than pressure and strict control.
Qvantum was founded in Sweden in 1993 and has been a manufacturer of high-end tailor-made heat pumps ever since. In 2021, Fredrik Rosenqvist and a group of energy industry executives entered the company and started a transformation towards higher volumes.
One of the main focuses is on low-temperature grids – also called “5th generation district heating” and heat pumps for such systems. From large units for central use to the innovative new apartment heat pump that won the ISH award in Frankfurt.
€42 million invested
In January 2023, Qvantum received €42 million from leading Swedish investors such as Thomas von Koch (Partner and ex CEO of global private equity firm EQT) investing through his family office, IMAS Foundation (a sister foundation to the INGKA Foundation, owner of INGKA Group operating most IKEA stores globally) and Munters AB - a global leader in energy efficient air treatment and climate solutions. A new Qvantum factory, with a 50,000 units/year capacity is being commissioned in Q2. Besides Germany, Qvantum already has a subsidiary in the UK and aims to enter several new markets during 2023.
Qvantum has developed and produced high-quality heat pumps and energy systems since 1993 and has a team of leading experts designing the next generation (5th) district heating and cooling solutions. Qvantum provides heat pumps and a unique software suite that will make it easier for Engineering consultants, Installers, Project developers and Utilities, to decarbonize the heating and cooling of urban areas and cities.
Qvantum is headquartered in Limhamn, Sweden, and is now rapidly scaling up from its current 70 employees.
Sweden is a country where the cold climate has always made heating a vital topic. Since 1990 heat pumps have all but taken over the heating of private homes in the country, reducing CO2 emissions from fossil fuel heating by 95 %! Sweden likely has the highest concentration of heat-pump engineers in the world today, and our work is based on decades of experience in the field.
Qvantum has subsidiaries in the UK and Germany.
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