Heat Pumps

Accelerating transformational change across the heat pump market

Strategic thinking and deep technical knowledge covering the full spectrum of heat pump technologies

Heat pumps, powered by low‐emissions electricity, are the central technology in the global transition to secure and sustainable heating. Heating in buildings is responsible for 4 gigatonnes (Gt) of CO2 emissions annually – 10% of global emissions. Installing heat pumps instead of a fossil‐fuel‐based boilers significantly reduces greenhouse gas emissions in all major heating markets, even with the current electricity generation mix— an advantage that will increase further as electricity systems decarbonise.

Driven by regulations, technological advances, economic benefits, and growing awareness of energy efficiency, the global heat pump market is set to grow significantly, from around USD 60 billion in 2021 to over USD 100 billion by 2030.

The heat pump market faces several challenges despite its potential for energy efficiency and sustainability. The high initial installation cost can deter adoption. Additionally, the complex installation process requires specialized skills, and the scarcity of qualified technicians can cause delays and higher costs. Furthermore, a lack of consumer awareness and understanding about heat pumps hinders their adoption. Overcoming these challenges will require efforts to reduce costs, raise consumer awareness, and enhance technical expertise.

(Corporate) Strategy development - Unleashing growth

We help ensure that clients are best positioned to realize arising business opportunities and long-term success through robust strategy. Our services are modular and naturally customized to clients’ needs. We collaborate closely with executive teams and key stakeholders to understand their unique challenges, goals and aspirations. Through rigorous analysis, research and industry benchmarking, we reveal untapped opportunities and identify the most effective strategic pathways for our clients.

  • Analysis of current market situation and strategy implications
  • Current strategy review
  • Vision and goal setting
  • Product portfolio optimization
  • Development and sharpening of value propositions
  • Growth driver definition
  • Digital transformation
Business model design and review - Unlocking sustainable value creation

We advise our clients in crafting innovative business models that drive growth, foster sustainability and deliver tangible impact. We can help with assessing current business models, identifying and illustrating potential opportunities and gaps, as well as designing a business model from scratch. Our support covers all elements defining a business model.

Customers:

  • Key customer segment mapping, identification of pains to mitigate as well as gains to facilitate
  • Customer segment quantification and prioritization
  • Definition of customer relationship approaches to ensure acquisition, retention and upselling

Value proposition and product:

  • Value proposition design for target customer segments
  • Specification of products and services to support the value proposition

Financials:

  • Key revenue stream identification
  • Pricing approach definition
  • Creation of detailed bottom-up cost models

Infrastructure:

  • Development of channel strategy
  • Determination of key partners and developing partnership/ecosystem strategies
  • Identification of key activities and resources for business model delivery
Market analysis and assessment - Creating in-depth understanding

Our team provides research to equip clients with the strategic insights needed to thrive in the ever-evolving cleantech industry. These tailored solutions enable our clients to make well-informed decisions, based on the knowledge of market opportunities, growth potential, regulations and competitive environment, amongst others.

Typical analyses include:

  • Market sizing and forecast
  • Competitive player landscape and archetyping
  • Identification of competitor strategies
  • Segmentation of customers and definition of customer preferences
  • Market trend evaluation
  • Analysis of regulations and their implications
Market entry strategy - Expanding with confidence

With our in-depth technical and market knowledge, we assist cleantech businesses in successfully entering new markets and maximizing their growth potential. Building on top of the thorough understanding of the market (see Market analysis and assessment), we deliver a tailored market entry strategy that reflects local dynamics.

  • Market analysis and prioritization
  • Value pool identification
  • Entry mode selection
  • Development of positioning
  • Market entry roadmapping
  • Key customer and partner identification
  • Business planning
Supply chain strategy - Driving operational excellence and resilience

Leveraging our deep understanding of cleantech market trends, supply chain knowledge and data-driven insights, we partner with clients to design customized strategies that drive operational excellence, reduce costs and deliver superior customer value.

  • Mapping of existing supply chain strategy along key parameters
  • Pricing analysis
  • Market trend and growth projection insights report
  • Supplier analyses
  • Risk and opportunity identification
  • Strategy assessment and initiative development
Strategy implementation / Project management office - Transforming vision into action and results

Our team of experts collaborates closely with organizations to embed the transition into all aspects of their business, translating high-level goals into tangible actions. By fostering clear understanding and accountability, we ensure that employees play their part in executing the strategy and maintaining best practices. With meticulous attention to detail and analytical rigor, we assess organizational capabilities, identify gaps and design tailored interventions for long-term success.

  • Managing project planning and execution
  • Organizational design and structure
  • Capability building via recruiting, staffing, training, and employee development
  • Change management
  • Performance improvement and KPI tracking
  • Communication and stakeholder engagement

M&A – Strategic acquisitions and divestments

For buy-side execution, we follow a systematic and analytical process tailored to our clients’ business objectives and assist them in finding and contacting targets. By providing due diligence reports, we ensure a solid foundation and negotiate and close the agreement. On the other hand, sell-side execution also requires a carefully structured and targeted approach. To that end, we create the teaser and investment memorandum for investors, select and approach investors, coordinate and monitor the due diligence process and structure the deal while moderating negotiations and preparing the closing.

Joint ventures – Collaborting with the ideal partner

Our experienced transaction advisory team supports you at every stage from screening prospective partners, conducting a thorough due diligence to establish credentials, to structuring a detailed strategic business plan for the partnership that ensures both long-term as well as short-term success. As cleantech specialists, our technology expertise and deep understanding of the dynamics in cleantech markets maximize your JV’s competitive advantage.

Fundraising

We jointly define the target investors and/or partners and work on a compelling storyline for the investor approach. We organize and lead meetings with you and high-potential investors to select the most suitable candidates for further discussions and provide ongoing negotiation support to close the best possible deal. Committed to transparency, we only introduce your company to potential investors who have been explicitly approved by you beforehand.

Due diligence – Knowing the real value of the deal

Our team of business and technology experts examines each business opportunity in detail, evaluating all relevant commercial, market and technical aspects.

Project finance – The most advantageous financing structure

We support project developers to successfully navigate complex international financing requirements with multiple currency cash flows involving governmental and private sector lenders locally, regionally and internationally. We help you mitigate risk and build innovative and highly-structured deals with the optimum mix of equity and debt aligned to your strategy.

IPP (sell-side) – Maximizing local value creation

Developing and implementing an effective long-term renewable energy program is a complex task for governments involving many stakeholders and a myriad of economic and legal considerations. With a successful track record in advising governmental institutions in Europe, the USA and the MENA region, we offer a full range of services including the evaluation and selection of the most suitable support scheme, the structuring of local content regulations, effective grid integration, and the development of optimal procurement, industrialization and cluster strategies. We advise governments on embedding renewable energy into their broader energy strategy, achieving competitive pricing and maximizing local value creation.

Bid support and management (buy-side) – Optimizing your energy project

We can support you from the bid preparation stage and will see you through until you have achieved financial close of the project. Post financial close, we can supervise construction of the power plant and commissioning up to the date of commercial operation.

EXPLORE OUR heating sector news

Decarbonizing the heating sector: why it’s time to act on heat pumps
Apricum Consultant Philipp Braukmann, Apricum CEO Nikolai Dobrott, and Senior Advisor Joachim [...]
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Key electrolyzer technologies and their roles in the future green hydrogen project landscape
Partner Florian Mayr and Senior Consultant Dr. Fabio Oldenburg explore the main electrolyzer [...]
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To invest or not to invest? The smart grid question
Significant investments are required to transform the current grid infrastructure for our [...]
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Transitioning to sustainable buildings is vital to reach net-zero but policy must step up
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How we help

To implement heat pump technologies on a large scale, decision-makers require a clear understanding of their functionality, including the science behind them, capital investment needs, scaling economics, pricing, regulations and their environmental impact.

Employing holistic, reliable and innovative approaches combined with technical expertise Apricum’s heating practice provides a wide range of strategy, project, and transaction advisory services that support clients who want to enter or expand their business in the heat pump sector.

Who we help

COMPONENT AND HEAT PUMP MANUFACTURERS

HEAT PUMP AND OTHER DER INSTALLERS

ELECTRIC UTILITIES AND ENERGY COMPANIES

INVESTMENT AND PRIVATE EQUITY FIRMS

 

 

heat pumps are set to play a key role in the  decarbonization of buildings in the residential, commercial and industrial sectors

Apricum - heat pumps

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climate change mitigation

Space and water heating accounts for 28% of the total energy consumed in the EU, with 75% of that energy coming from fossil fuels.

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Highly Efficient

Heat pumps can reach efficiency ratings of up to 300-400%, meaning they are four to five times more energy efficient than gas boilers.

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Fast growing sector

Increased demand in Europe has driven growth rates to more than 30% as Europe plans to install an estimated 60 million new heat pumps by 2030.
Nikolai Dobrott

Nikolai Dobrott

Founder & CEO, Head oF Apricum's HEat Pump PRACTICE

“With rising energy prices, beneficial governmental incentives and shifting consumer demand, there has never been a better time to develop your business in the heat pump market. Our strategic expertise and transaction execution proficiency will help you make the right strategic decisions that enable you to grow your business while helping to mitigate climate change in the residential and commercial heating space.” get in touch

CLIENTS WHO HAVE BENEFITTED FROM OUR CONSULTING EXPERTISE

“With Apricum’s deep expertise…we were able to make an informed decision…”
“Apricum helped HV during our SPV DD in assessing the quality of Enpal’s SPVs. With Apricum’s deep expertise we were able to holistically look at both the technical and financial quality of Enpal’s portfolio and make an informed decision with regard to an investment into Germany’s largest residential PV installer.”  

MAXIMILIAN ZOLLER

PRINCIPAL, HV CAPITAL

“… robust expert advise, even for niche segments.” “We highly appreciate Apricum’s comprehensive coverage of the cleantech sector in combination with their ability to drill down deeply into specific areas, providing robust expert advice even for niche segments. Furthermore, Apricum’s flexibility in the way of collaboration – from embedding our own team members to fully independent work execution – allows for support exactly tailored to our individual needs.”  
RUNE BRUØYGARD

VP HEAD OF BUSINESS DEVELOPMENT, HYDRO BATTERIES

“Overall extremely impressed by Apricum.”
“Overall extremely impressed by Apricum. As an ex-McKinsey person, I think Apricum brings every bit of the management consulting toolbox into the project, on top of an industry depth in the day-to-day team that is truly impressive and rare in the consulting world.”

ANDRZEJ GOLEBIOWSKI

VICE PRESIDENT BUSINESS DEVELOPMENT, SCATEC SOLAR

“…versatility that you find rarely among consultants.”
“The team demonstrated the highest level of competence down from the minute technical details of photovoltaic production processes up to an excellent understanding of the industry dynamics and the key strategic implications – a versatility that you find rarely among consultants. From day one, they brought their comprehensive sector knowledge to the table. Their reports were very focused without limitations on necessary detail. They served the objective of our engagement very well.”

RABEAA FATTAL

DIRECTOR, SWICORP PRIVATE EQUITY

Hello!
How can we help you
We’re open from
Monday to Friday
from 9am to 7pm
Phone: +49 30 30 877 620
Send us an email info@apricum-group.com

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