Voltan Energy: A New Concept For Apartment Buildings’ Ground Source Heating – Voltan Energy Raises EUR 2.5 Million in Growth Funding

·2 min read

The Finnish energy company Voltan Energy produces heating and cooling for properties with local ground source heat systems. The company designs, builds and finances heating sites. Customers only pay for heating according to consumption, as with traditional district heating.

HELSINKI, June 29, 2022--(BUSINESS WIRE)--Voltan Energy (Voltan Lähienergia) has secured an investment of 2.5 million in its second round of financing. The company will invest tens of millions in the construction of new ground source heat and cooling systems in the next few years. These recent funds will be used to strengthen the sales organization and also to build the heating and cooling systems themselves. Holdix Oy Ab, Turret Oy Ab and Timo Soininen (former co-founder of Small Giant Games), who had previously been shareholders in the company, participated in the financing round. Alexander and Albert Ehrnrooth, of the well-known Finnish industrial family, own the also investing Nidoco AB. Nidoco is a subsidiary of Alexander and Albert Ehrnrooth’s Virala Oy Ab.

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The Voltan ground source heating solution reduces emissions from apartment buildings by up to 80-100%. (Graphic: Business Wire)

An affordable and environmentally friendly alternative

Voltan Energy is challenging district heating with its new type of heating and cooling service based on ground source heat energy. "Half of the Helsinki region’s CO2 emissions come from district heating, the price of which has also risen sharply. We want to offer an alternative to district heating,"says Miikka Lemmetty, CEO of Voltan. The system is more cost-efficient and sustainable than district heating. It brings individual apartment buildings lifecycle savings of hundreds of thousands of euros and enables cooling in their homes.

In sales, Voltan focuses on fast-scaling new construction projects through cooperation with construction companies. Voltan Energy initially aims to build about 30 to 50 sites per year in Finland. "This would mean an annual reduction in CO2 emissions of about 1,200 tonnes," Lemmetty reminds. In the near future, Voltan intends to expand to other Nordic countries and possibly also to Central Europe. In Sweden, geothermal energy is already a familiar phenomenon in large properties.

Voltan Energy (Voltan Lähienergia Oy) is a new decentralized energy company that implements ground source heating and cooling systems for large properties. It acts as a long-term heat producer for apartment buildings.

Voltan Energy (Volta Lähienergia Oy)


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CEO Miikka Lemmetty
+358 45 271 4247

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