We have decided to make a major investment in one of the largest Czech heat pump manufacturers, Acond, to accelerate the transition from gas heating and to support the energy security of the Czech Republic and Europe.

With a nearly one-quarter stake (24.3%), we will accelerate the construction of a new production plant, significantly multiplying our production capacity and our ambition to produce tens of thousands of high-quality heat pumps per year by 2025 and expand across Europe.

Acond was founded in 2004 in Milevsko by the brothers Hanus, with the help of their father in the early days. In 2020 they introduced a revolutionary heat pump that is one of the quietest on the European market, uses environmentally friendly refrigerant, is one of the most economical on the market, and allows remote management. They have been able to develop and manufacture cutting-edge products in world-class competition.

We were convinced to invest in Acond by the passion, skills, and ambition of the two founders, who have been able to set the company up for further growth and who are already successfully selling heat pumps in several European countries. The founder, Jiří Hanus, remains a director of the company. Together with the financial investment, we intend to use our experience in building fast-growing technology companies with a focus on customer satisfaction to significantly support the company’s successful growth in the European market.

With this move, we have also decided to replace our February commitment to building solar parks. By financing the multiplication of heat pump production, we will help tens of thousands of households to get rid of their dependence on primarily Russian gas and significantly reduce their energy consumption.