Europe’s leading greentech growth fund, Nordic Alpha Partners, invests in Swedish air treatment company

COPENHAGEN, 21 November 2023 – The air treatment company Airwatergreen is scaling production and preparing for European expansion supported by a majority investment from the Nordic and Germany-based growth equity fund Nordic Alpha Partners (NAP). The ambition is to globalize the company’s patented solutions within energy-efficient industrial air treatment. 

Airwatergreen, based in Uppsala, Sweden, designs, manufactures, and sells state-of-the-art air treatment technology. Since its inception, the company has become a well-established brand in the Swedish market with installations in the water industry, cultural buildings, cold storage, logistics, and food production. Such facilities depend on maintaining a suitable indoor climate and avoiding damage to buildings or products from suboptimal humidity levels. Airwatergreen provides the technological solutions for this while at the same time reducing energy consumption by 30-70% compared to conventional applications.

Airwatergreen’s patented technologies and proficiency in reducing the customer’s CO2 footprint is a perfect match for the European Article 9 fund, NAP, which specializes in scaling innovative green hard tech companies from local to global market leaders to achieve NetZero based on economic sustainability.

“At NAP, we fundamentally believe that advanced technology, new processes, and business models are vital in enabling the green transformation in a financially sustainable way,” says Rasmus Lund, Senior Partner at Nordic Alpha Partners. “Airwatergreen’s patented technology presents a unique product performance that enables the acceleration of sustainability within the property sector, and we look forward to supporting and participating in the company’s growth journey!”

Today, the company’s products are sold to customers in 8 European countries, but with its expansion strategy further supported by the NAP investment, the European market penetration will be accelerated using NAP’s Value Creation Model and Playbook. The expansion will allow more industries and geographies to use Airwatergreen’s dehumidifiers and air treatment products to deliver the preferred indoor climate – using substantially less energy.

“With the building and property sector being one of the most significant greenhouse gas emitters, Airwatergreen is a sweet spot case to NAP as the novel technology and approach can help save large amounts of CO2e emissions compared to alternatives,” says Troels Øberg, Senior Partner at NAP and exemplifies: “With the launch of its NEXT-model, aimed at large-scale storage and production sites, Airwatergreen can provide a stunning 140 Mega Watt hours of energy savings per year per machine, thereby providing a substantial green impact on top of an attractive financial return on investment.”

“We take great pride in NAPs recognition of our company and the performance of our products,” says Bo Tiderman, CEO of Airwatergreen. “The infusion of funding will significantly contribute to expanding our market presence, catering to a broader audience actively seeking solutions to meet their needs, and together with Nordic Alpha Partners and their unique approach to hyper-growth scaling, we can contribute to and accelerate the green transformation towards more sustainable industries.”



About Nordic Alpha Partners

Nordic Alpha Partners is a Nordic and Germany-based growth equity fund established in 2017 with offices in Copenhagen and Munich. It is investing in sustainable hard tech companies with the potential to pioneer and accelerate the global green transformation.

The fund has raised 5 billion DKK for green investments, saving the environment from more than 1 million tons of CO2and creating over 500 green jobs over the past three years.

NAP’s investment approach is based on a highly active and operationally supporting ownership model, which in combination with a methodic value creation approach enables visionary founders to scale from local players to global market leaders.

More info:


The Nordic Alpha Partner investment team on the Airwatergreen investment:

  • Investment lead: Senior Partner, Rasmus Lund
  • Value Creation Lead: Senior Partner, Troels Øberg
  • General Counsel: Partner, Marten West Naldal
  • Analyst: Helena Frimodt Francati 



Senior Partner, Laurits Bach Sørensen                         CMO, Martin Plambek
Mobile: +45 25 26 10 30                                            Mobile: +45 52 11 11 25

About Airwatergreen

Airwatergreen AB is a Swedish air treatment company that offers energy-efficient dehumidification and air treatment in all climates. They design and manufacture desiccant air treatment products that efficiently remove moisture and maintain a suitable indoor climate, which prolongs the life of buildings, goods and equipment, and creates a healthier workplace environment to stay in. The products are designed with patented technology that give the products a number of unique advantages. Among these advantages is a halving of energy consumption, plug-n-play installation and the same efficiency in all temperatures.
Today, Airwatergreen has more than 900 installations in 8 countries.

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This operation benefits from support from the European Union under the InvestEU Fund

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