Qvantum’s factory in Åstorp, Sweden, started production in 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.

Munters, the global leader in energy-efficient air treatment and climate solutions, has participated the Series C financing round and has a co-operation agreement with Qvantum. Other Series C investors are SEB Greentech, DIG Investment (connected to the H&M Persson family), NEA Partners and Climentum Capital. Mats Rahmström, former CEO of Atlas Copco, is also investing and has joined Qvantum board of directors.

Fredrik Rosenqvist, Qvantum CEO said: “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.”