Viessmann to invest €1bn in green solutions

The Viessmann Group has announced it will invest €1 billion in the next three years to extend its heat pump and green climate solutions portfolio. The investments are targeted to expand the family company’s manufacturing footprint and R&D labs, thereby also strengthening Europe’s geopolitical energy independence.

Prof. Dr. Martin Viessmann, Chairman of the Board of Directors of Viessmann Group said: “For more than 105 years, our company has been a family for positive change with a clear focus on energy efficiency and the development of new technologies such as the first heat pump generation in 1979. Our historic investment decision comes at a time where we build the right foundation for the next 105 years – for us and, even more important, for generations to come.”

Max Viessmann, chief executive of Viessmann Group said: “Unprecedented geopolitical developments need unprecedented replies. We all need more speed and pragmatism in order to fight climate change and to re-think energy generation and use of tomorrow, in order to strengthen Europe’s geopolitical independence. Consequently, we are now accelerating our growth with dedicated investments in heat pumps and green climate solutions. At Viessmann, all 13,000 family members are relentlessly committed to co-creating living spaces for generations to come.”

Group: Strong Growth in 2021 Fuelled by Heat Pumps and Green Climate Solutions

The latest business development of the Viessmann Group underlines the strong product-market-fit in its green climate solutions. Despite negative effects from the pandemic and challenged global supply chains, the family business successfully managed to grow significantly in another year of crisis. The group’s total revenue in 2021 reached a new record high of EUR 3.4 billion (previous year: EUR 2.8 billion). The significant growth rate of +21 percent was especially driven by an increasing demand for premium heat pumps which jumped +41 percent.

Group & Foundation: Viessmann Family with Responsibility and Solidarity in Crisis

In light of the brutal attacks from Putin in Ukraine which started on 24 February 2022, and despite negative effects on the Eastern European business, the global Viessmann family keeps showing strong solidarity. Within a few weeks only, the company organized transportations, accommodations, medicines, material donations and new jobs for Ukrainian people seeking refuge in the Viessmann facilities in Poland, Rumania, Hungary, Slovakia and Germany. Additionally, all family members across the globe collected donations, which were doubled by the Viessmann Family Foundation, reaching a total over EUR 1.2 million, dedicated to support social and charity organizations.

Climate Solutions: Shift Towards ONE Integrated Solutions Provider Pays Off

The group’s overall growth in 2021 was primarily driven by its largest business area Climate Solutions where the shift towards integrated climate solutions continued to pay off. A significant milestone in enabling the company’s large installation partner base was the launch of Viessmann’s ONE BASE, a new integrated platform which includes all climate solutions out of one hand: From heat pumps with new natural refrigerants, district heating, solar thermal heating, home battery storages, biomass solutions, green gases and fuels, to ventilation solutions, and digital & value-added services.

Refrigeration Solutions: Combining Cooling, Climate and Building Automation Solutions

The Refrigeration Solutions business area also contributed positively to the Group’s strong development in 2021, especially by the smart combination of refrigeration, climate and building automation solutions as well as installation & after sales services. The business area was able to use more synergies and expand its business, especially in food retail, indoor farming and health care applications. An important innovation is the amplification of intelligent cooling solutions based on a heat pump at the heart of the system, to both generate the needed refrigeration capacity as well as the needed climatization power for the building, thereby eliminating the need for additional, separate climate or heating units.

Viessmann Investment: New Family Business-Oriented Partnerships

Alongside its organic growth, the Viessmann Group also successfully managed to grow by recent acquisitions, extending its family business-oriented partnerships in electric heating, district heating, after sales services & building automation.

By becoming a shareholder in the leading heating, ventilation and air conditioning service company Value Added Engineering, Viessmann established its presence on the Australian continent. With the acquisition of Pacifica Home Services, a leading after-sales service platform with a focus on heat pumps, Viessmann strengthened its presence in the United Kingdom. Additionally, the family company also extended its district heating activities in Poland, by acquiring Elektrotermex. Moreover, Viessmann joined forces with the leading climate company Priva in the Netherlands, entering the smart horticulture and building automation sector.

Sustainability Strategy: SBTi Certification Confirms Industry-Leading Commitment

In addition to Viessmann’s plans to heavily invest into the expansion of its heat pump portfolio and green energy solutions, the company also remains fully committed to its industry-leading sustainability commitment. Recently, the family business received official approval and confirmation from the renowned Science Based Targets Initiative (SBTi) for its published goals to reduce the carbon footprint for its own operations and its entire value chain.
The SBTi certification confirms that the implementation of the sustainability and climate strategy are contributing positively to the overall goal of limiting global warming to 1.5 °C, according to the Paris Agreement.

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