Qvantum, a pioneer in advanced heat pump technologies, is leading the charge with its innovative Heat Pump to Grid (HP2G) functionality. This cutting-edge solution not only powers multifamily buildings but also helps stabilize electric grids, supporting the shift to zero-carbon energy systems and enabling a resilient, sustainable future for European cities.
Europe’s reliance on imported natural gas and the urgency to decarbonize energy systems have spurred a dramatic shift toward sustainable heating solutions. The European heat pump market is thriving, with 24 million units installed and annual sales reaching 3 million as of 2023, according to the European Heat Pump Association.
To meet the European Commission’s ambitious target of 60 million heat pumps by 2030, nations are intensifying efforts by implementing bans on gas boiler installations. The forthcoming 2025 EU Clean Industrial Deal is expected to introduce further bans and incentives, driving the clean energy transition across the continent.
Qvantum has developed a new modular heat pump platform designed for cost efficient mass production. Qvantum heat pumps are modular and designed to make the heat pump an integrated part of a local energy system. The Qvantum software suite encompasses all parts of the value chain, from advanced solution design and operations monitoring, to support and predictive maintenance. The platform, in combination with the software suite, enable the expansion of heat pumps to densely populated urban areas and cities across Europe.
Qvantum’s factory in Åstorp, Sweden, started production early 2024 and has significantly ramped up its capacity, with a target of 50 000 heat pumps per year. In 2024, the first products based on the new product platform were successfully launched on the Swedish market and in 2025, the full product portfolio will be launched across European markets.
“Our expansion strategy has positioned us uniquely in the European market. We have a bold vision to become one of the leading industrial actors in the heat pump sector in Europe. With the heat pump market poised for long-term growth, our innovative high-tech solutions can play a vital role in decarbonizing Europe. We empower people in urban areas to achieve fossil fuel independence by providing easy access to carbon-neutral heating. This not only helps mitigate the impact of rising energy prices but also accelerates the clean energy transition. With this new capital, Qvantum is entering its next phase of expansion, and we are grateful for the continued strong support from our long-term investors”, says Fredrik Rosenqvist, Qvantum CEO
The lead investors include Thomas von Koch (Partner and ex CEO of global private equity firm EQT) investing through his private company, IMAS Foundation (a sister foundation to the INGKA Foundation, owner of INGKA Group operating most IKEA stores globally).
”Fredrik and his team have achieved remarkable growth, driven by innovative product and systems development, alongside strategic acquisitions that have significantly strengthened the company’s position. We remain strong believers in Qvantum and supporting them on their continued journey was a natural choice for us. Qvantum exemplifies the power of skilled people and teams, combined with products that drives positive impact and meaningful environmental change”, says Thomas von Koch.
“Qvantum felt like a hidden gem to me at first, and the deeper I get involved, the more impressed I become. Qvantum is on track of becoming both a true leader in transforming the heat pump industry and a significant contributor to a cleaner Europe. I look forward to working closely with both the Board of Directors and the management team to help drive the company to the next level”, concludes Mats Rahmström, Qvantum Board Member.