KfW IPEX-Bank: Financing for innovative heating systems

• Vaillant Group invests in modern, climate-friendly heating technology
• R+D for the heating transition

KfW IPEX-Bank is providing heating technology provider Vaillant with financing of EUR 118 million for its research and development activities. The financing will be used to develop innovative heating systems, in particular to take climate-friendly heat pumps to the next level.

The funds will be earmarked for the significant investments the company will be making on the energy and heating transition in the coming years. Depending on the size of the future market, the Vaillant Group will invest up to EUR 2 billion in the growing heat pump business, including in ongoing projects. The focus of the investments will be on expanding production and development capacities as well as extending the range of services for specialist trade partners.

Dr Stefan Borchers, Managing Director of Finance and Services at Vaillant Group:

"In recent years, the Vaillant Group has built on its strong market position significantly. We are delighted KfW IPEX-Bank will be supporting our future growth as a leading heat pump provider."

Dr Velibor Marjanovic, Member of the Management Board of KfW IPEX-Bank:

"We, too, are looking forward to supporting the growth, modernisation and transformation strategy of our new customer Vaillant. This financing ties in with our mission as a transformation bank to help take forward-looking projects in the energy transition to the next stage."

About Vaillant Group
The Vaillant Group is an internationally active company based in Remscheid, Germany, which operates in the fields of heating, ventilation and air-conditioning technology. As one of the global market and technology leaders, the Vaillant Group develops and manufactures customised products, systems and services to provide a comfortable living environment. Its product portfolio ranges from efficient heating devices based on conventional energy sources to system solutions for using renewable energy. In the financial year 2022, the company, which has been family-owned since its foundation in 1874, generated sales of around 3.7 billion euros with its workforce of 17,000.