European Energy entered the heat pump market less than a year ago, and now the company is ready with a new investment in the sector with the acquisition of 40 % of the Danish company Soft & Teknik.
Electric heat pumps are becoming a hot commodity, not only in Denmark but across Europe – and not only in private homes, but also increasingly to replace fossil sources in district heating and industry. Therefore, European Energy through the subsidiary European Energy Heating will become co-owner of the North Jutland company Soft og Teknik, which today develops industrial software and hardware for several industries.
Soft & Teknik has expertise in developing software and control systems for larger heat pump systems in the megawatt class for the district heating sector.
– It is a sound investment for European Energy, if we want to take advantage of the synergies that exist in the production of renewable energy. We are in the middle of a massive green transformation of all sectors that use energy, and Soft & Teknik can supply key parts of the value chain that supports our investment in the heat pump area and Power-to-X, says Knud Erik Andersen, CEO for European Energy.
– Soft og Teknik is an innovative company that is a leader in software and hardware for electric heat pumps and PtX systems. With the investment in Soft and Technology, we hope that we can accelerate the development of our technology in heat pumps, PtX, Scada systems and battery storage.
European Energy Heating is currently present with heat pump projects in Denmark and the UK, but in the long term the business will also include the other markets where European Energy develops and operates renewable energy plants. For example, it will be appropriate to use the excess energy from PtX plants to operate heat pumps, which can thus use the excess energy to heat households.
Soft og Teknik was founded in 1999 and works with complete solutions within industrial automation.
– From the beginning, our strategy has been to create projects that provide the best solution in relation to people and the environment – the key elements in the green transition. European Energy works with the elements for which we really want to create solutions. With the new ownership, we have gathered the competence elements needed to make the products needed to carry out the green transition. We are extremely happy with the new co-ownership – it will be an exciting journey, says Jens Christian Kristiansen, CEO of Soft & Teknik.
European Energy becomes a co-owner of the company Soft og Teknik with a 40% ownership share, which today has 63 employees.