New investors on board
Tequs has closed an investment round backed by industrial and cleantech investors Hafslund, Eviny, Kongsberg Innovation, Startuplab, and Momentum. The funding, combined with a 12.4 million NOK grant from the Research Council of Norway, finances the industrial rollout of standardized high-temperature CO₂ heat pumps across Europe.
Strategic capital from leading energy companies
The consortium brings together energy utilities and industrial tech investors who understand grid capacity and thermal demand. Hafslund and Eviny operate regional energy infrastructure and see the transition away from fossil heat firsthand. Their participation provides both long-term capital and operating insight into how commercial heat pumps interact with the power grid.
Kongsberg Innovation, Startuplab, and Momentum contribute expertise in scaling hardware technology from pilot validation into industrial series production. Together with the Research Council grant, the funding supports continuing engineering work on high return temperature performance and controls optimization.
Series manufacturing with Rivacold
Unlike custom-built commercial heat pumps that require months of engineering for each building, Tequs manufactures standardized units. Production is anchored with OEM partner Rivacold in Italy, providing established assembly lines, supply chain stability, and quality assurance.
This asset-light production model allows Tequs to ramp up volume without capital expenditure on dedicated factories. Units are built to standard catalogue specifications, preconfigured, and tested prior to shipment.
Meeting the European heating replacement gap
Roughly 40 percent of energy consumption in Europe goes toward heating, with fossil gas and oil still dominating commercial buildings. At the same time, the European Union is phasing out synthetic fluorinated refrigerants (F-gases) under tightening climate directives.
The investment accelerates delivery of the Aqua platform across core European markets. Because each Aqua unit is between 68 and 89 centimeters wide, it passes through standard doorways without building demolition. Reaching up to 90 °C supply water with natural R744 refrigerant, the system replaces fossil boilers directly on existing pipework.
