Press release September 30th, 2016
The investment will allow Danfoss to further strengthen its position in the global market for Multi-Family Houses and District Heating Systems.
Danfoss and Leanheat have announced an agreement for Danfoss to acquire 23% of privately-held Leanheat (subsidiary of Pandia Oy), a Finnish service-as–a-business developer and provider of analytics based energy optimization services for Multi-Family Houses and District Heating Systems.
The combination of Danfoss’ deep system- and application know-how and Leanheat’s strong capabilities in developing analytics based software solutions is an important lever to accelerate Danfoss’ position within important segments like Multi-Family Houses and District Heating Systems, and to further advance the digitalization of its core components. The acquisition follows Danfoss strategic focus on establishing strong core businesses with leading market positions.
“Partnering with Leanheat will enable us to add a powerful software and service layer to our market-leading portfolio of advanced components residing in the Danfoss Heating Segment. A part of the Danfoss strategy is to add new digital elements into our core product portfolio to enable us to offer more energy efficient solutions and enable new preventive maintenance services to our customers,” says Niels B. Christiansen, President & CEO, Danfoss.
“This is a significant milestone for our company. It is a testament to the business we have developed and our hard work in creating advanced analytics based solutions for building management. I am convinced that partnering with a global leader like Danfoss will further expand our business capabilities both in market reach and product development. We share a joint vision, and together we will provide even more value to our customers by offering advanced and intelligent energy optimization solutions for the Multi-Family Houses and District Heating segments,” says Jukka Aho, CEO Pandia Oy.
Under the agreement Danfoss will join the Leanheat board of directors.
Leanheat is part of Pandia Oy and Pandia Oy will continue to hold the majority of shares. The parties have not disclosed the investment amount or other conditions of the transaction.
Leanheat offers building owners analytics based optimization tools that reduce the cost of heating and enable preventive maintenance of buildings. By installing sensors in each flat, and with a central gateway acting as a light Building Management System, Leanheat can improve energy efficiency with 10-15% and offer service such as balancing improvement. Leanheat also collaborates with District Heating Utilities and are at the forefront of load-shifting services that enable building owners to take advantage and improve energy saving with dynamic pricing of district energy.
Danfoss engineers technologies that enable the world of tomorrow to do more with less. We meet the growing need for infrastructure, food supply, energy efficiency and climate-friendly solutions. Our products and services are used in areas such as refrigeration, air conditioning, heating, motor control and mobile machinery. We are also active in the field of renewable energy as well as district heating infrastructure for cities and urban communities. Our innovative engineering dates back to 1933 and today Danfoss is a world-leader, employing 23,400 employees and serving customers in more than 100 countries. We are privately held by the founding family. Read more about us at www.danfoss.com.
For more information:
Danfoss Media Relations
+45 70 20 44 88