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Today, Swedish based clean energy-tech company, Aira, launches in the UK with a pledge to invest £300 million in the next three years to accelerate decarbonisation. The company’s ambition is to serve five million households across Europe, of which one million are in Britain, with affordable clean energy-tech solutions to take Europe off gas. Aira will reduce the UK’s CO2 emissions to the equivalent of taking two million cars off the nation’s roads. The UK still relies on 25 million fossil fuel boilers to heat homes, these account for 16% of the nation’s CO2 emissions1. Switching to an air source heat pump substantially reduces household heating costs and carbon emissions. With Aira’s innovative and accessible solutions, households save 25% on their heating related costs while simultaneously reducing CO2 emissions by 75%. The Government’s mission is to increase heat pump uptake to 600,000 installations a year by 20282 to reduce the nation’s reliance on expensive, imported fossil fuels. Aira Chairman, Harald Mix, is set to lay out Aira’s pledge to decarbonise the UK at the Global Investment Summit today. Aira offers an ecosystem of clean energy-tech solutions, including intelligent heat pumps, solar panels, battery storage, and electricity tariffs. With a complete Aira ecosystem solution, UK households can save over 55% on energy related costs, including the product investment while reducing CO2 compared to current fossil fuel solutions. Aira makes the switch affordable and accessible, with a unique offering comprising an all-inclusive plan, a 10-year Comfort Guarantee, and a 30-day order to installation commitment – with zero upfront cost.&nbsp; Today Aira UK is a team of 200 employees, consisting of Clean Energy Experts and supporting roles, with 600 employees globally. Since its global launch in June 2023, Aira has acquired Sheffield based All Seasons Energy, a renewable energy specialist, leveraging their local expertise and knowledge. To accelerate rapid growth, Aira is investing in two Aira Academies, one in London and one in Yorkshire, that will train thousands of Clean Energy Experts, helping drive their goal to serve one million UK homes and build the clean energy workforce of tomorrow.&nbsp; Martin Lewerth, Aira Group CEO, said: “The UK is a crucial market to decarbonise, being one of Europe's most populated countries and with the lowest heat pump penetration rate of just 1%. We are excited to introduce Aira's innovative home energy solution in the UK, and we are confident that our offering and value proposition, which includes substantial consumer cost savings, no need for lifestyle changes, and a zero upfront payment model, will be well-received. We are here to accelerate the important transition from dirty gas boilers to clean heat pumps.” Daniel Särefjord, Aira UK CEO, said: “Heat pumps represent the most technologically advanced, economic, and environmentally friendly way to heat our homes. They are four times more energy efficient than gas boilers and will help people reduce their heating bills by 25%. The Government has confirmed that over 90% of UK homes are suitable for a heat pump2. Aira offers a hassle-free, budget-friendly path to lower energy bills and a more climate-friendly economy." Energy Security Secretary, Claire Coutinho, said: ‘’Families should not have to choose between cutting costs and cutting emissions which is why we increased our Boiler Upgrade Scheme by 50% to £7,500 grants – making our scheme one of the most generous in Europe. “Our plan is working, and we are seeing an increase in applications. It’s fantastic that Aira is investing £300m in the UK heat pump market to help further rollout. “Their investment will also create 8,000 new jobs here in the UK, growing our economy and helping us make the green transition.”For more information, please visit <a href="https://www.airahome.com/en-gb" target="_blank" rel="noopener noreferrer">www.airahome.com</a> (1) Source: IPCC&nbsp; (2) HM Government, Heat Pump Investment Roadmap: Leading the way to net zero, p4, April 2023&nbsp; For press inquiries, please contact: <a href="mailto:press@airahome.com" target="_blank" rel="noopener noreferrer">press@airahome.com</a> / mobile (Chloe Kingscote): +447545237381 About Aira Aira provides clean energy-tech solutions to consumers and is set to become Europe’s number one direct-to-consumer brand within the industry. Aira accelerates the electrification of residential heating with intelligent clean energy-tech to enable the net zero future we all need. With Aira, consumers across Europe have a go-to-provider for complete home energy saving solutions, with intelligent heat pumps at the heart. Aira’s consumer-centric subscription model and vertical integration enable best-in-class consumer economics and cost leadership. Aira’s mission is to empower people to join the clean energy revolution, one home at a time. Founded in Stockholm, Sweden, by Vargas Holding and backed by stellar investors from Europe and the US.

Clean energy-tech champion Aira invests £300 million in the UK to help one million British homes move away from gas

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Europe still relies on 130 million fossil fuel-based boilers to heat homes, accounting for 10% of Europe’s CO2 emissions. Switching to an air source heat pump substantially reduces household heating bills and carbon emissions. With Aira’s innovative and accessible solution, households can save up to 40% on their heating costs while simultaneously reducing CO2 emissions by more than 75%. &nbsp;Aira’s consumer offering is already live in Italy and Germany and will launch in the UK later this year. The first phase was funded with more than SEK 400 million from a group of committed employees, management, and Vargas founders.Today, Aira onboards a group of climate and innovation focused investors, underscoring its commitment to decarbonise residential heating. New shareholders joining Aira on its important mission include Altor, Collaborative Fund, Creades, Kinnevik and Lingotto.This additional funding will enable Aira to make further investments to spearhead the electrification of residential heating, drive decarbonisation and reduce energy consumption:<ul><li>Rapid market expansion across Italy, Germany, and the UK, creating 10,000 new clean energy expert jobs to serve five million homes within the next decade.&nbsp;</li><li>Advance Aira’s commercial proposition by introducing an affordable monthly payment model, making home energy solutions accessible to European homeowners.&nbsp;</li><li>Broaden Aira’s clean energy-tech portfolio with products and services including solar, dynamic energy tariffs and energy storage, starting with intelligent heat pumps. &nbsp;</li><li>Invest in R&amp;D and technology to provide a simple to use energy optimisation customer experience.&nbsp;</li><li>Enable the ramp-up of Aira’s manufacturing capabilities in Poland.</li></ul>&nbsp;Martin Lewerth, Aira Group CEO, says: "We are delighted to welcome our new investors, who all have a track record of scaling impact companies. Our investors join us on our mission to drive the green transition and to take Europe off gas. The funding secured is a key milestone on our journey to serve five million European households with clean energy-tech solutions. With this investment, we will further expand our European presence and accelerate our product and tech development to become a leading direct-to-consumer brand.”Georgi Ganev, Kinnevik CEO, says: “At Kinnevik, we continue to focus on our generation’s biggest challenge – climate change. Residential heating stands for around 10 percent of the CO2 footprint, and we believe that Europe is at the start of a major transformation towards green energy. We strongly believe in Aira’s vision to connect the full value chain, which allows for stronger margins and a harmonised consumer experience. Bold visions require great execution, and Martin Lewerth and the team have the right combination of experienced leadership and expertise across the critical functions. In addition, with Kinnevik’s experience in scaling global consumer businesses, I believe we can be a strong strategic partner to Aira and add significant value as an early investor.” &nbsp;Andrew Montgomery, Partner at Collaborative Fund, says: “Our strategy is to invest in businesses that can generate the highest possible financial returns and have the largest climate impact – and we are constantly reviewing initiatives from entrepreneurs, startups, and large corporations. We are excited about Aira’s bold ambitions for clean energy-tech for every home, as residential heating is a prioritised sector from an abatement perspective. We’re also thrilled to be investing in a Swedish company helping to export the Nordics' leadership in heat pump adoption, innovation, and design.” &nbsp;&nbsp;For further questions:Pamela Brown, Group CMO, email: <a href="mailto:press@airahome.com" target="_blank" rel="noopener noreferrer">press@airahome.com</a> / mobile: + 44 7884 313193&nbsp; &nbsp;About AiraAira provides clean energy-tech solutions to consumers and is set to become Europe’s number one direct-to-consumer brand within the industry. &nbsp;Aira accelerates the electrification of residential heating with intelligent clean energy-tech to enable the net zero future we all need. With Aira, consumers across Europe have a go-to-provider for complete home energy saving solutions, with intelligent heat pumps at the heart. Aira’s consumer-centric subscription model and vertical integration enable best-in-class consumer economics and cost leadership. Aira’s mission is to empower people to join the clean energy revolution, one home at a time. Founded in Stockholm, Sweden, by Vargas Holding and backed by stellar investors from Europe and the US. www.airahome.com&nbsp;

Clean energy-tech champion Aira, secures SEK 1 billion of equity funding to take Europe off gas

To accelerate the rapid growth of the business, Aira will invest in a new Northern Academy that will train hundreds of installers, helping drive their ambition to serve 5 million homes across Europe with clean energy solutions over the next 10 years. Achieving this target will dramatically improve the energy efficiency of UK homes and save the same volume of carbon emissions as taking 10 million cars off the road across Europe.The deal will also enable All Seasons Energy to double their office, training and warehouse space and grow the team to create a host of new job opportunities from apprenticeships to installers and commercial roles.In the last five years, All Seasons Energy has installed more than 13,000 energy saving measures, such as solar panels, heat pumps, home insulation and electric vehicle chargers, delivering to their customers £260 million in lifetime energy savings.The new partnership will enable even more households to invest in the clean energy-tech of the future using Aira’s unique, subscription focused business model. With Aira’s all-inclusive monthly payment plan which removes upfront costs, the partnership increases accessibility and affordability of intelligent heat pumps, helping customers reduce their carbon emissions by 75%. This number can increase to 100% when used in conjunction with fossil-free sources of electricity such as solar power.The government’s ambition is to increase heat pump uptake to 600,000 installations a year by 2028. Aira’s new investment will support this commitment with its own goal of installing one million heat pumps in the UK within decade, helping reduce Great Britain’s dependence on foreign gas, whilst also cutting energy bills.This is Aira’s second acquisition since inception and a strong milestone in the continued journey to welcome likeminded and experienced teams to our important mission.&nbsp;Aira is part of Sweden’s Vargas Holding Group of companies that also includes unicorns Polarium, Northvolt and H2 Green Steel.All Seasons Energy Director, Richard Moule said: “This is an exciting period of rapid growth for All Seasons Energy. Already a successful, nation-wide, and multi-award-winning installer, I believe Aira will take us to the next level. Aira have an outstanding drive to grow the European heat pump industry, and their plan for an on-site training facility will provide hundreds of installer opportunities and apprenticeships for Yorkshire and neighbouring counties. We’ll have the resources available to make the north of England a huge part of the green jobs revolution while accelerating the UK’s transition to net zero.”Daniel Särefjord, Aira UK CEO, commented: “We see our investment in All Seasons Energy as a crucial steppingstone to unlocking the UK’s potential for a cleaner, greener homes based on low carbon technologies and sustainable energy sources such as the sun and air. Together with the All Seasons team, we will implement our innovative pay-monthly model, enabling many more UK customers to get access to the energy bill savings from clean energy technology with no upfront cost. With our all-inclusive plan and comfort guarantee, we promise a warm and cosy home and take responsibility for any maintenance or service that is required for ten years without any extra cost.The opportunity to decarbonise UK homes is extraordinary. In the UK, residential heating contributes to 16% of all CO2 emissions and 85% of all homes still use fossil fuel heating. We’re offering alternative solutions to heating and powering homes, dramatically reducing CO2 emissions and minimising energy related bills by more than 50%. Better for the planet and better for our customers’ pockets.This deal represents a brilliant opportunity for Aira to invest in the UK’s clean energy sector and what better place to start than here in Sheffield – one of Great Britain’s greenest cities.”Clive Betts, MP for Sheffield South East and chair of the Levelling Up, Housing and Communities Committee, added: "The climate emergency is urgent. Businesses such as All Seasons Energy and Aira are a critical part of the solution to air pollution and global warming. They will bring new opportunities to our community and hopefully safeguard the livelihoods of families in the green industries for decades to come. To meet with the new management team was a wonderful opportunity to hear about their plans to grow their business and upskill potentially hundreds of people in the renewable energy sector. I sincerely welcome Aira’s investment in Sheffield, its people and their commitment to helping us to combat climate change.”For more information, please contact:&nbsp;Chloe Kingscote, The 10 Group&nbsp;<a href="mailto:chloe@the10group.com">chloe@the10group.com</a>

All Seasons Energy is on board

<ul><li>Residential heating is a major, but overlooked, source of global carbon emissions. Heating of residential buildings constitutes 10% of Europe’s direct emissions and is the third largest contributor of CO2 emissions.</li><li>Aira makes it easy for consumers to decarbonise their homes with a complete home energy system with a highly efficient and intelligent heat pump at the heart. Aira offers an affordable fixed monthly fee, with significant energy bill savings compared to current solutions, including gas boilers and other fossil-based alternatives.</li><li>Aira is currently piloting in Italy and will launch in Germany and UK later this year. The 2030 ambition is to be present in more than 20 markets, with more than 10,000 clean energy experts and technicians employed across Europe. Within ten years, Aira will serve 5 million European homes with much needed greener and cheaper residential heating.</li><li>To realise the company’s ambition, Aira has secured a world-class production facility in Wroclaw, Poland, where production will start in 2024.</li></ul>Europe is facing a multitude of strategic challenges that together add up to a polycrisis, including a climate crisis, an energy crisis, and a cost-of-living crisis. Heating of residential buildings constitutes 10% of Europe’s total emissions and is the third largest contributor of CO2 emissions.Having already founded Polarium, Northvolt and H2 Green Steel, the Swedish impact company builder and investor, Vargas, is launching Aira to accelerate electrification of residential heating with clean energy-tech for every home. Heat pumps have long been recognised as a highly efficient alternative to oil and gas boilers since they are 4 to 5 times more energy efficient. The technology is the most efficient and affordable way to decarbonise homes at scale and will be pivotal to Europe’s ability to effectively combat climate change. Widespread adoption of heat pumps in Europe has been hindered by high upfront costs, low awareness, and the absence of urgency to decarbonise the residential heating sector.Harald Mix, Chairman of Vargas and Aira, says: “The EU’s Fit-for-55 is a vital political framework for reaching the Paris Agreement, but we need bold business initiatives to meet the commitments. By applying Vargas proven model of vertical integration and scale, Aira can offer consumer cost-savings as well as greener residential heating – this is the most efficient way to achieve net zero. The heat pump technology is widely adopted across Scandinavia. Aira’s offering, together with national regulations and subsidies, will accelerate adoption across Europe.”Aira is a direct-to-consumer brand and offers a complete and intelligent clean energy-tech ecosystem for every home. Aira will start with a heat pump, as heating is a necessity and electrifying heating has the largest impact for a household in terms of reducing energy costs and usage, as well as CO2 emissions. Aira makes heat pumps affordable and accessible with zero up-front costs and a monthly fee, lowering heating related costs by 30%. Aira will also provide a quick and smooth customer journey going from quote to installation within four weeks.With a heat pump, homeowners can further unlock the true potential of more energy-saving solutions, including battery storage, dynamic electricity tariffs and solar panels. The complete energy ecosystem will be managed by Aira’s fully integrated digital platform and increase customer savings up to 50% on energy related costs.Martin Lewerth, CEO of Aira says: “With clean energy-tech for every home, Aira is transforming residential heating and accelerating Europe’s energy transition and decarbonisation. Today, consumers spend thousands of euros on inefficient, dirty and expensive gas based heating. We will make heat pumps affordable, cut energy bills and emissions. Our unique direct-to-consumer model will dramatically change how European families heat their homes.”The market for clean energy-tech has a significant, and still largely untapped, potential. To meet a booming demand for heat pumps, Aira will swiftly establish and grow its business over the coming years.For more information, please contact Vargas press contact:Maria Stern, mobile: <a href="tel:+46705710417" target="_blank" rel="noopener noreferrer">+ 46 70-571 04 17</a>, e-mail: <a href="mailto:maria.stern@vargasholding.se">maria.stern@vargasholding.se</a>About AiraAira provides clean energy-tech solutions to consumers and is set to become Europe’s number one direct-to-consumer brand within the industry. The company was founded by Vargas in Stockholm, Sweden, in 2022, with a mission to empower people to join the clean energy revolution, one home at a time. Aira accelerates electrification of residential heating with intelligent clean energy-tech to enable the net zero future we all need. With Aira, consumers across Europe have a go-to-provider for complete home energy saving solutions, with intelligent heat pumps at the heart. Our consumer-centric subscription model and vertical integration enables best-in-class consumer economics and cost leadership.For more information: <a href="https://www.airahome.com" target="_blank" rel="noopener noreferrer">www.airahome.com</a>About VargasVargas is a long-term investor and an active owner of purpose-led companies. Together with bold entrepreneurs, we build companies from the ground up to realise ideas that push boundaries for a sustainable future. Vargas was founded in 2014 in Sweden. We have started with green batteries, steel and hydrogen, and Polarium, Northvolt, H2 Green Steel and Aira are our first impact companies – all with the aim to establish regional or global leadership.For more information: <a href="https://www.vargasholding.com" target="_blank" rel="noopener noreferrer">www.vargasholding.com</a>

Clean energy-tech champion Aira invests £300 million in the UK to help one million British homes move away from gas

Clean energy-tech champion Aira, secures SEK 1 billion of equity funding to take Europe off gas

All Seasons Energy is on board

Vargas launches Aira - A new clean energy-tech company to serve 5 million homes