ASKER — Enerin, a Norwegian technology company specializing in high-temperature heat pumps, announced Thursday it has raised €15 million (NOK 180 million) in a Series A funding round to accelerate the industrial adoption of its clean heating solutions.
The round was led by Climentum Capital, with participation from The Footprint Firm, Johnson Controls, Move Energy, PSV Hafnium and Momentum.
“This investment marks our shift from pioneering to full industrialisation, bringing proven high-temperature technology from Norway to industries worldwide,” said Arne Høeg, Founder and CEO of Enerin.
The company targets one of the most challenging sectors to decarbonize: industrial heat. Fossil-fueled industrial boilers are responsible for nearly 20% of global CO₂ emissions, yet many remain in use because conventional heat pumps cannot reliably achieve the high temperatures and adapt to the variable conditions required in manufacturing.
Enerin’s system, called HoegTemp, is a modular and standardized heat pump that delivers heat up to 250 degrees Celsius (482 Fahrenheit). It automatically adapts to a factory’s specific process conditions, which the company says allows for decarbonization without costly operational redesigns.
“Today, customers care first about economics. HoegTemp makes clean industrial heating profitable compared to gas boilers, reducing energy use by 50-70 percent,” Høeg said.
The new capital will enable Enerin to transition from bespoke manufacturing to serial production of its standardized modules. The technology has already been piloted by companies including GE Healthcare, Pelagia and IVAR IKS Biogas. Enerin was also recently named a finalist for New York State’s $10 million Empire Technology Prize.
“Securing an oversubscribed international Series A in the current market demonstrates strong confidence in both our technology and the team’s ability to leverage our repeatable, standardized configuration to scale globally,” said Henrik Ree Eriksen, CFO of Enerin.
Raymond Carlsen, Chair of Enerin and former CEO of Scatec ASA, highlighted the significance of having Johnson Controls as an investor: “Having Johnson Controls together with leading European VCs as investors is a powerful validation of what Enerin is building.”
Enerin, founded in 2017 and headquartered in Asker, Norway, develops its heat pumps based on the Stirling cycle.