About Us
Energy Save
ES Energy Save Holding AB (publ) operates through its subsidiaries ES Systems, ES Heat Pumps och ES Services and offer products, systems and services aimed at energy savings. The core products are based on the latest heat pump technology and all companies in the group plays an active part in the product development for the European market. Besides actual products we also offer service and different digitized tools and services.
Since 2007, Energy Save Nordic AB and Energy Save AS have been marketing their products under the ES brand.
| ENERGY SAVE HOLDING AB (publ) | |||
| Subsidiaries | ES Systems | ES Heat Pumps | ES Services |
| Business Area | Commercial Buildings | Domestic Heating | Installation & Aftermarket |
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Contributing to a sustainable transition of the global energy system
Energy Save is an innovative Swedish energy technology company that contributes to the sustainable energy transition in Europe through cost-effective and smart air-to-water heat pump systems. We have been delivering heat pumps to the European market since 2009 and are listed on the Nasdaq First North Growth Market.
Patented Product Concept and Digital Tool
Energy Save develops green and innovative solutions for both residential and commercial segments, helping customers meet their needs and achieve their climate goals. Through innovative technology development, we have established a prefabricated product concept that is environmentally friendly, energy-efficient, and easy to install. Our new line of propane machines is designed to be a direct replacement for gas boilers around Europe.
We have developed a complete digital ecosystem, providing cutting-edge technology to ensure that our heat pumps are reliable and user-friendly. This ecosystem consists of the ES Configurator, the ES Calculator, and the ES Fleet Manager, and it enables cost reductions in installation and system design while providing long-lasting performance.
Scalable Business Model and Partnerships
Energy Save has established a business model that ensures short lead times and low development, production, and delivery costs for heat pump systems. Our systems offer higher industrial scalability compared to on-site installer-built systems and create opportunities for entirely new applications and customer segments.
Together with partners, we engage in everything from product development to production and have a defined market path for both residential products and commercial systems. Sales are conducted through distributors under the Energy Save brand, but also through OEMs, enabling us to leverage partners’ established customer relationships in markets where we are not yet sufficiently established. We currently have active distributors in 29 countries, and we are developing our supply chain by establishing production capacity in Europe.
Digitalisation as a Competitive Advantage
Digitalisation is a key factor in the development of the heat pump industry – and a prerequisite for managing the transition to green electrification that Europe is facing. Our systems meet the conditions associated with green electricity production and contribute to the flexibility required to balance the power grids during this transition. Our hybrid solutions meet Europe’s enormous need for electrified heating of buildings – during construction and throughout the buildings’ lifespan.
Our digital services and tools ensure high performance and quality, not only by streamlining configuration, installation, and monitoring, but also through easy integration with other parts of a building’s energy management. The heat pump solutions can be synchronised with other energy sources and systems in the building, creating a holistic approach to energy management and optimisation. Our know-how in hybrid technology positions us centrally in the future energy system.
Energy Save’s digital business area also creates significant customer value through opportunities for energy price optimisation and peak-shaving, which means levelling out peak loads to reduce energy costs. These advantages are made possible by combining different energy sources and optimising the operation of heat pump systems through new control intelligence. This capability is one of the most important factors that makes Energy Save a key player in the industry – contributing to increased competitiveness, improved margins, and providing opportunities for new business models and revenue streams.
History in Brief
2003 – Cooperation with Amitime is established.
2005 – Amitime chooses together with ES Group founder to focus the core business toward a product portfolio containing inverter technology based air-to-water heat pumps.
2006 – The company’s first generation of air-to-water heat pump is launched through JULA as private label partner.
2009 – The business is acquired by the current CEO Fredrik Sävenstrand and current product development manager, Christian Gulbrandsen. The Energy Save company is hereby founded.
2011 – The company makes an exclusive collaboration with Onninen AB as a distributor of Energy Save products. Amitime Europa BV is founded in the Netherlands by Energy Save and Amitime. The company regulates the rights to sell the jointly developed heat pumps. The company is owned to 51% by Amitime and 49% by Energy Save.
2012 – The subsidiary ES Service AB:s is founded in Sweden and Poland. The company act as a installation resource and service partner for the domestic and commercial markets.
2014 – Onninen Oy makes an exclusive collaboration as an exclusive distributor of ES products in Finland. ES Group starts to invest in development of the product portfolio for commercial properties. The first concept towards this segment is ready during 2014 and is installed through a series of pilot installations where the systems are tested in systems togehter with district heating. The concept is developed together with JEFF Electronics AB and Wikströms AB
2015 – We initiated the product development of the plug-in-modules.
2016 – During 2016 we launched our third generation air-to-water heat pump range. The first Plug-in Module was installed at customer. Cooperation with Swegon AB is established through a joint development project aimed at commercial air handling during 2016. At the end of 2016 ES Group had closed non exclusive distribution and cooperation agreements with distributors in 12 European countries.
2017 – ES NordFlex is launched as a product concept in Sweden within the Light Commercial system business area. We signed distributor agreements with Scanmont AB and BAXI on both domestic and commercial product ranges. ES Systems AB is founded to take aim at commercial solutions. The organization competence is based on energy analysis, constructional engineering, sales together with production and industrialization. Swegon launches ES HeatStarDX on the polish market.
2018 – REC Indovent AB launches a newly developed compact domestic air handling unit combined with ES Groups heat pumps. The Swedish Energy Agency decides to support a innovative project based on ES Groups plug-in-modules. Pre series production of plug-in-modules is initiated in China and our forth generation A+++ air-to-water heat pump from ES Group is finished and tested. 10 000 units air-to-water heat pumps has been delivered since 2009. 200 of these is the same that we use in NordFlex concept. The establishment and extension of ES Systems continues at as high speed as possible without externa capital injection. We start discussing with investors to secure further development.
2019 – Key recruitments and the establishment of sales offices in Europe strengthen sales capacity. The customer base of distributors in both the residential heating and property heating segments is expanded. The beta version of the “system configurator” sales tool that aims to drive and accelerate business was launched towards partners and distributors. A strategically important collaboration with Swegon AB-owned BlueBox Srl, which the parties gradually intend to build up, is initiated and sample deliveries take place. The industrialization of the Plug-in Modules reaches the start of pre-production and a Swedish patent is approved. Co-packaging of operating activities to support a commercial launch of Plug-in Modules for construction heating is developed together with the partner Jeff Electronics AB and AirWaterGreen AB.
2020 – Ultra-quiet heat pumps with the new highly efficient and more environmentally friendly refrigerant R32 were launched. The digital sales and design tool The Configurator was launched. Public launch of the product offer Plug-in Modules with a focus on construction heating and new production. International PCT patent for the Plug-in module is approved in Europe. The plug-in module version 1 is in pre-series production and further model versions are in the pilot construction stage. Two Plug-in Modules are sold, delivered and put into operation for permanent heating in warehouse property and housing cooperative. Three modules have been manufactured and used for rental operations and development of the TemporaryClimate product concept. Two more modules are in production for the same purpose. NordFlex was launched at the international distributor level. Distributors are established in 18 countries. Framework agreement is entered into with Swegon Operations Srl. for delivery of heat pumps. ES Energy Save Holding AB is listed on the Swedish stock exchange Spotlight.
2021 – Follow-up order regarding another Plug-in Module to the Norwegian machine rental company UCO. Strengthened technical offer through the launch of larger basic capacities on the aggregate side of 45 kW per heat pump, which strengthens the Plug-in-Module product concept, and the Company’s offer towards the real estate segment. Sales cooperation begins with Swedish El-Björn as a distribution channel to construction heating, with common product packaging for the right building climate. Together with Sustainable Heating and Cooling by Sweden, projects for establishment in Great Britain are being launched. Collaborations begin with El-Björn and PowerCell. Office opens in Mälardalen, Sweden. Patent for the Plug-in Module in China. El-Björn starts a business segment for energy, which includes Energy Save’s Plug-in Module. A framework agreement is signed with Skanska Rakennuskone OY in Finland. Maximum system power is doubled to 1.4 MW. Distributors who drive the sale of Energy Save’s products are now established in 23 countries.
2022 – The company’s patent application for Plug-in Modules is approved in the USA. Finance fundings for the digital business segment is carried out. Prototype systems for heat pumps and fuel cells are developed together with PowerCell. At the beginning of April, new orders with a total value of SEK 36.5 million are received. Cooperation agreement with AQ Group. Follow-up order from Skanska Rakennuskone. Module for construction heating is delivered to Universeum’s visualization lab. Funding for the construction of a Smart Grid facility within the European ERA-Net Smart Energy Systems is approved. The company is launching a digital business segment. Follow-up order regarding two more Plug-in Modules to the Norwegian machine rental company UCO. Launch of PiM Move, a new product for temporary energy needs. Agreements are signed with partners in Great Britain, and Energy Save thus has distribution in 25 countries.
2023 – The expansion continues and five new employees are welcomed during January. Three more follow in February, and two more in March. In order to strengthen the company, additional capital is raised through a rights issue. Cooperation with focus on the German market begins with Danish EC Power. Enters as technology partner to Vargas-owned Aira, where also later a license agreement is signed. The board is strengthened with Maha Bou-Zeid and Julia Norinder. New distributors in Albania and Bulgaria are added and the company is now represented in 28 countries. In October, the company is listed on the Nasdaq First North Growth Market. Contracts for new premises for the company’s head office in Alingsås are being written, occupancy is planned for spring 2024.
