GERMANY: Viessmann says it will invest €1bn over the next three years to extend its heat pump and green climate solutions portfolio.
The announcement comes after the Allendorf-based manufacturer reported record revenues in 2021 of €3.4bn, up 21% on the previous year. The growth was driven by a 41% leap in demand for heat pumps.
The company says the investment will enable it to extend its manufacturing footprint, R&D labs and green solution offering portfolio, especially in heat pumps.
“Unprecedented geopolitical developments need unprecedented replies,” stated Viessmann Group CEO Max Viessmann. “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.”
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 is said to have been the launch of Viessmann’s One Base, a new integrated platform of Viessmann’s climate solutions. This includes heat pumps with “natural” refrigerants, district heating, solar thermal heating, home battery storages, biomass solutions, green gases and fuels, to ventilation solutions, and digital and value-added services.
The Refrigeration Solutions business is also said to have 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 and after sales services. Growth was seen especially in food retail, indoor farming and health care applications.
Viessmann highlights an importance of its heat-pump-based intelligent cooling solutions to both generate the needed refrigeration capacity as well as provide the air conditioning for the building.