Quatt Secures €25M to Revolutionize Home Heating in the Netherlands
Amsterdam, Wednesday, 17 July 2024.
Amsterdam-based Quatt raises €25 million to expand its smart hybrid heat pump technology. The company aims to install 3 million units by 2030, potentially saving homeowners up to 80% on gas bills. Quatt’s innovative approach combines affordability with significant energy efficiency gains.
A Significant Milestone in Energy Efficiency
Quatt’s recent financing round, led by Blue Earth Capital with participation from Seaya Andromeda and Impact Equity Fund, marks a significant milestone in the company’s journey towards revolutionizing home heating. The €25 million investment will be channeled into further development of Quatt’s innovative heat pump technology and its international expansion. The technology, which has already been installed in over 7,500 homes across the Netherlands, has the potential to drastically reduce household energy consumption and related costs.
Innovative Technology Driving Change
Quatt’s hybrid heat pump system is designed to optimize energy use by switching between electricity and gas, depending on which is more economical at the time. This smart system is driven by advanced software that ensures maximum efficiency and minimal energy waste. Unlike traditional boilers, the Quatt Hybrid heat pump can save up to 80% on gas bills, making it an attractive option for homeowners looking to reduce their carbon footprint and energy expenses. Furthermore, the system can easily be upgraded to a fully electric heat pump, offering even greater environmental benefits in the long run.
Affordability and Accessibility
One of the key advantages of Quatt’s heat pump technology is its affordability. The company offers competitive pricing, with costs that are 30-50% lower than those of traditional heat pumps. Additionally, the Dutch government provides subsidies that can further reduce the net cost for homeowners. For example, the cost of a Quatt Hybrid heat pump is approximately €6,000, but with a subsidy of about €2,500, the net cost drops to around €3,500. This makes the technology accessible to a wider range of households, supporting Quatt’s mission to make sustainable home energy solutions available to everyone.
Strategic Partnerships and Future Goals
Quatt’s collaboration with Vereniging Eigen Huis, a Dutch homeowners association, is another strategic move that aims to broaden the company’s market reach. Through this partnership, Quatt has been able to offer its heat pumps at a discounted rate to members of the association, further promoting the adoption of energy-efficient technologies. Quatt’s founder, Marijn Flipse, has emphasized the importance of such partnerships in achieving the company’s ambitious goal of installing 3 million heat pumps by 2030. This target is not only about expanding Quatt’s market share but also about making a substantial impact on reducing CO₂ emissions and combating climate change.
Global Impact and Future Innovations
Blue Earth Capital, a global impact investor, sees Quatt’s modular system as a key player in the global energy transition. The company plans to launch an air conditioning system called Chill in the spring of 2025, which will complement its existing product lineup and further enhance its market position. Carlos Fisch from Seaya Andromeda believes that Quatt’s innovative roadmap can position the company as a leader in the climatetech sector. As Quatt continues to innovate and expand, its commitment to sustainability and making renewable energy accessible remains at the forefront of its mission.