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DeWarmte BV

Netherlands
Equity
Sustainability
Growth Market
Renewable Energy

Unlocking a Gas-Free Future, One Step at a Time.
Marketing content

Sander Wapperom Co-Founder & CEO DeWarmte BV

“We all have to get rid of gas, but making our homes more sustainable can be hard. We are helping Dutch households to get rid of gas one step at a time. We do this by breaking through all existing barriers. Most heat pumps are ugly, noisy and expensive. That's why we developed a strong but silent heat pump, with inhouse developed smart controls and a stylish, award-winning design. Easy to install , affordable and very pretty!

Invest now and become co-owner of DeWarmte. Together we will unlock the gas free future!” 

Sander Wapperom, Co-Founder & CEO, DeWarmte BV

Investment information

Type:
Equity offering
Invested so far:
€1,757,421.21
Equity offered:
6.70 – 17.70 %
Price per share:
€5.23
min investment 48 shares
Transaction costs:
1.50 %
Number of existing shares:
1,500,000
Fully diluted shares:
2,117,461
Pre-money valuation:
€8,625,000.00
Offered units:
573,614
Broker:
Oneplanetcrowd International B.V
License:
ECSPR

Note: The number of existing shares (1,500,000) is the number of registered shares before the investment of the anchor investors and any subsequent conversions in this financing round”

Why to invest in DeWarmte

Innovative and Sustainable Products: DeWarmte is a pioneering heat pump company known for innovation. Our flagship product, the Pomp AO, offers unmatched flexibility, seamlessly integrating into any household's central heating system. This reduces installation time and costs significantly, thanks to our advanced wireless technology and smart controls. Moreover, our patented HeatCycle boasts double the efficiency of other eco-friendly hot water solutions. As leaders in environmentally conscious heating, we're proud to introduce our full electric heating system in Q3 2024, reaffirming our dedication to innovative and efficient solutions for our customers.​ ​

​Market and exit potential: The heat pump market has experienced significant growth, especially in the Netherlands, in recent years and is projected to maintain its momentum, with a substantial surge anticipated in 2026. This growth is fueled by the widespread adoption of renewable energy sources and bolstered by favorable legislation both in the Netherlands and across Europe. Positioned as a key player in this evolving landscape, DeWarmte holds considerable potential for a successful exit or IPO within the next five years. Read more about the dutch market potential here.

Market positioning: DeWarmte is strategically positioned to capitalize on the anticipated ongoing market momentum in both the direct-to-consumer (D2C) and business-to-business (B2B) sectors. With approximately 1000 products installed in private residences directly through its digital sales funnel, DeWarmte has established a strong presence in the D2C market. Additionally, the company has build robust partnerships in the B2B arena, including collaborations with housing corporations such as Veluwonen and WoonFriesland.

Financial health and growth trajectory: In 2023, DeWarmte achieved a revenue surpassing € 3 million, reflecting a remarkable threefold increase compared to 2022. Projections indicate a continued annual growth trajectory of 2-3 times in the upcoming years. This substantial growth, coupled with stable overhead costs, has led to a significantly enhanced EBITDA

Team and backing: DeWarmte was founded by two mission-driven TU Delft alumni, who are supported by a talented and experienced team. The company is backed by seasoned impact venture capital fund 'Rubio' and an experienced entrepreneur in the (sustainable) installation market.

Overview

Intro: Netherlands speeds up shift to green energy, to cut dependency from gas supply

The Netherlands in full transition toward sustainable energy supplies

The Netherlands is still largely dependent on natural gas and fossil fuels to generate heat. Consequently, the gas infrastructure in the Netherlands is many times larger than that of Finland, where only 5% of the country is dependent on gas as an energy supply. Right now the Netherlands is in the midst of a transition to more sustainable solutions and connection to the heat grid or via heat pumps is being encouraged by the government. From a joint mission to make the Netherlands climate neutral in 2050, the government, companies, organizations and people at home are working to counter global warming. The way we generate energy is essential to this. 

New legislation around fuel-efficient heating systems

In 2026, a new law will be introduced in the Netherlands requiring homeowners to purchase a more fuel-efficient heating system, such as a hybrid heat pump or an all-electric heat pump. The laws and regulations for this are currently being drafted. With this measure, the government wants to accelerate the transition to sustainable energy in the Netherlands. Gas consumption could drop 60 to 70 percent as a result of this legislation. That is good news for the earth, and in this way we are getting closer to our mission to make the world more sustainable and livable step by step. 

Independent of expensive natural gas from Russia

The energy bills of the Dutch population skyrocketed since the start of the war between Russia and Ukraine. The government made an appeal to the Dutch to be more frugal with energy, so that more gas could be sourced from their own reserves and an even bigger price increase could be prevented. With success: while in 2021 a quarter of the natural gas used in the Netherlands still came from Russia, in 2023 this was only 9%. Given the turbulent situation in Europe, more and more Dutch people want to minimize the risk of high energy bills and reduce dependence on Russian gas. This makes sustainable solutions like heat pumps especially attractive at this time. Europe, including the Netherlands, is aiming to be completely independent of Russian gas by 2027. This makes an investment in heat pumps more relevant than ever to the Dutch crowd.

Company profile

People installing heat pump

The Challenge of CO2 Emissions in Heating

In the built environment, 70% of CO2 emissions are caused by heat generation to heat rooms and water. The solution towards sustainable heating is simple, eliminate the gas usage by using heat pumps. Large-scale acceptance is lagging behind due to drawbacks of the conventional products with long installation times, suboptimal specifications like a lot of noise, unattractive designs and unnecessary high prices.

DeWarmte's Innovative Approach

DeWarmte, founded in 2019 by two TU Delft alumni, addresses this with an integrated D2C business model and focus on research and development (including in-house developed smart controls) resulting in heat pumps with fastest and easiest plug-and-play installation, best in class specifications, fair and transparent pricing and an effortless customer journey.

DeWarmte has developed 2 IoT-controlled sustainable heating products: the HeatCycle, an efficient heating system for tap water, and the Pomp AO, a monoblock air-water heat pump. In 2024, a full electric heat pump system will be added, which will enable 70% of households in the Netherlands to fully switch off gas. DeWarmte has already helped around 1,000 households with their first step towards sustainable heating. With this DeWarmte saved total of 550,000 m3 of gas and reduced CO2 emissions by 1 million kg. The company's goal is to have total 3,000 products installed by the end of 2024 in the positive scenario. The financial forecast is based on the base case scenario, with the goal of doubling to total 2000 products installed by the end of 2024, this is the base case scenario and is more conservatively deployed.

The Company Behind the Mission

DeWarmte’s head office is based in Den Haag. The assembly location is centrally based in Utrecht. The company currently has +/- 40 employees together working on the mission to accelerate the transition towards 100% CO2-neutral heat supply.

Company Info 

Company name: DeWarmte BV
Managing Directors: Sander Wapperom, Auke de Vries
Business ID number: KvK DeWarmte B.V: 77799925
DeWarmte Group B.V: 77796217
Founding Year: 2019
Address: HQ
Saturnusstraat 95
2516 AG Den Haag
The Netherlands
Industry: Sustainable Heating Systems / Heat Pumps
Number of employees: ~40
Locations: HQ: Den Haag
Assembly location: Utrecht
Website: www.dewarmte.nl
Social Media:

​       ​

Products and services
 

DeWarmte's vision is to provide its customers a step-by-step approach towards 100% sustainable heating supply by reducing barriers such as unnecessary high prices. To reach this goal, DeWarmte has so far developed 2 IoT-controlled sustainable heating products.

The Pomp AO is a monoblock air-water heat pump to heat rooms, with plug-and-play installation, award-winning design and best performing specifications on noise and efficiency. The plug-and-play installation (the Pomp AO can be connected anywhere in the central heating circuit due to wireless and smart control) is unique in the market and drastically reduces the installation time and costs. It also provides more placement flexibility, providing more choice for our customers, being able to place heat pumps where competitors are not.

Heat pump

Heat Cycle

The HeatCycle is a patented and 2x more efficient heating system for hot water. It uses the average temperature of 27 degrees of water from the sewage to heat hot water in a household. It is best used for apartment blocks, providing multiple apartments with heated hot water.​

Both products can be bought separately and installed as hybrid systems (with a gas boiler). Together, with an additional electrical back-up, they form an all-electric solution. This electric back-up system will be released in Q2-2024.​

In Q3 2024 DeWarmte will introduce an alternative to heat hot water (next to the HeatCycle). The pre-order for this new product has already started and is a perfect solution for houses where you cannot reach the sewage with sustainable heated hot water. This new solution can serve as an all-electric system and will be able to help around 70% of all houses to get rid of gas.​ ​

DeWarmte secures its future readiness with its inhouse developed smart controls. This offers real-time data insights for both customers and the company, enabling proactive maintenance and remote monitoring. Drastically reducing service costs. Over time, this also creates opportunities for dynamic energy contracts and involvement in demand response markets by managing the primary electricity usage of participating households as part of a collective group.

Business model

Heat pump

Heat pump

DeWarmte generates revenue by selling its products directly to homeowners (D2C) and to housing corporations (B2B) in the Netherlands. Currently only through one-off sales, including an optional service contract to provide recurring revenue. Looking ahead, the company is considering the possibility of implementing a lease model to expand its offerings in the near future.

D2C

With its D2C model DeWarmte targets homeowners looking to making their home more sustainable or to invest due to monetary incentives. These clients engage with DeWarmte directly through the website, embarking on a fully digitalized and optimized customer journey, which includes a digital inspection via video call. This approach eliminates the need for pre-installation customer visits, providing an optimal experience for the customer while offering scalable solutions for DeWarmte. The digital customer journey translates to a remarkably low Customer Acquisition Cost (CAC) and considerable potential for rapid scaling. Cutting out unnecessary middleman margins, DeWarmte achieves lower costs for the customer while maintaining healthy profit margins.

Chart business model

Click to enlarge

B2B

With its B2B model DeWarmte targets housing corporations to install DeWarmte products at a larger volume. Currently DeWarmte has pilots ongoing with WoonFriesland and Veluwonen. The new investor displays seasoned experience in B2B business development and can support DeWarmte with market expansion. ​ ​

Pie chart business model

Click to enlarge

The combination between the cutting edge business model and R&D/software focus provides a strong competitive advantage for DeWarmte.

Impact

The Sustainable Development Goals (SDGs or 'Global Goals') are part of the UN 2030 Agenda for Sustainable Development and constitute the international framework for sustainable development until 2030. These SDGs are intended to put an end to poverty, inequality, and climate change.

DeWarmte is founded with the mission to accelerate the transition towards 100% CO2 neutral heating supply. By providing a step-by-step and affordable approach towards CO2 neutral heating.

DeWarmte’s impact is measured through gas saved and CO2 emissions prevented directly from the devices from the installed base. The company has up till now assisted almost 1,000 households in making the transition to sustainable heating. This has already saved a total of 550,000 cubic meters of gas and reduced CO2 emissions by 1 million kilograms. In its core, this mission and DeWarmte’s activities contribute to the following SDG’s:

SDG 7

With its innovative and affordable heat pumps, DeWarmte actively supports the UN goal for affordable and clean energy. With its innovative approach, DeWarmte brings easy-to-install, affordable and beautiful heat pumps to the market to make sustainable heat accessible to all.

SDG 11

As a major player in the heat pump market, DeWarmte contributes significantly to the realisation of the UN goal of sustainable cities and communities. With its innovative, easy-to-install and affordable heat pumps, it promotes urban sustainability and contributes to the development of resilient and environmentally friendly communities.

SDG 13

DeWarmte goes beyond tangible environmental benefits. By actively engaging and educating its customer base, the company has made a significant number of people aware of the importance of sustainable heat and sustainable choices in general. Through this awareness-raising approach, DeWarmte not only reduces its carbon footprint, but also creates new ambassadors for climate action within its existing and future customer base.

Market

Heat pumps

DeWarmte is active in the Dutch heat pump market which has shown strong growth in recent years due to increasing awareness of gas prices and sustainability reasons. It is expected that this momentum is to be continued due to the underlying trend towards sustainable energy and supporting government regulations on a national and European level.

Market trends and growth projections

The European heat pump market was sized at USD 14.2 billion in 2022 and is expected to grow with a yearly average growth rate of 18.4% between 2023 and 2032 (source). In the Netherlands 167,000 heat pumps were installed in 2023 (~120,000 in existing buildings), representing an estimated market value of € 1.7 billion. Starting from 2026, a (hybrid) heat pump should be installed when the heating system is replaced.The expectation is that the Dutch regulations will drive growth towards 250,000 to 300,000 new heat pumps installed in existing buildings per year. In case of ineffective regulations, the estimate is 150,000 to 200,000 heat pumps per year. Resulting in an expected yearly growth rate between 2023 and 2028 of 10% to 21% (source).

Key players in the market

The market consists of several incumbent conglomerate hardware manufacturers like Remeha and Daikin. These companies often have their own production lines, sell to distributors and distributors to installers. As such, these incumbent hardware manufacturers do not have client contact themselves, providing hurdles regarding marketing and product innovation based on customer feedback. The incumbent model also leads to unnecessary middlemen margins. Next to the incumbent hardware manufacturers there are only a few newcomers like HeatTransformers and Quatt. While HeatTransformers is an innovative installation company, Quatt also has a D2C approach like DeWarmte.

DeWarmte's competitive advantages

DeWarmte distinguishes itself from its competitors by the ability to install heat pumps quickly, the focus on software development, direct feedback from customers and the ability to quickly implement new functions and improvements. Moreover, all products and components are supplier independent, allowing DeWarmte to respond flexibly to market developments. The D2C approach cuts out unnecessary middlemen margins and provides DeWarmte opportunity for direct online marketing and incorporating client feedback in their products.

Management

  

Sander Wapperom, Co-Founder & CEO

Sander Wapperom

Co-Founder & CEO

Sander Wapperom founded DeWarmte after completing a double master degree in Sustainable Energy Technology & Mechanical Engineering at Delft University of Technology. He also has significant working experience as a sustainability consultant at Greenfish .

  

Auke de Vries, co-founder & CTO

Auke de Vries

Co-Founder & COO/CTO

Auke de Vries founded DeWarmte after finishing a master degree in Mechanical Engineering at Delft University of Technology. He has working experience as performance engineer for the Eneco Smart Grid project at Eneco.

  

Stefan de Niet, Head of Marketing

Stefan de Niet

Head of Marketing

Stefan de Niet completed a Strategic Management master degree at Tilburg University. He has 6+ years experience in several marketing positions at Coolblue.

Distribution of company shares before current financing round

Shareholder

Shares

Votes
1 Sander Wapperom 33,33 % 33,33 %
2 Auke de Vries 33,33 % 33,33 %
3 Rubio 33,33 % 33,33 %
TOTAL 100 % 100 %

Distribution of shares

Company structure before current financing round

Company Structure

Before the current financing round the founders Sander Wapperom and Auke de Vries and the pre-revenue VC investor, Rubio Impact Ventures each held 33.3% of the shares. As investor you will invest in de DeWarmte Group BV alongside the founders, Rubio, the Anchor investor and related conversions in this round through the STAK.

 

Use of funds

After focusing on the technology, control and quality of our products in recent years, it is now time to conquer the heating market in the Netherlands. This way we make the step towards sustainable heating accessible to everyone.

Commercial growth: A substantial part of the gathered funds will be used to increase marketing and sales efforts. The company strives for more interaction with the target group and the ability to guide them in the transition to sustainable heating. With this investment the company will be able to achieve this on a much broader scale, with the aim to increase revenue streams and strengthen the position in the market.

Organization: Part of the funds will be allocated to strengthening the team to support this growth trajectory and optimize organizational efficiency.

R&D: A segment of the funds will be reserved for ongoing product development initiatives. The research & development team continues to improve and grow with the possibilities and needs of the market. They are now working on realizing the all-electric heat pump. With the investment, a native DeWarmte app can be developed.

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Maximum Scenario

(€ 3 million collected in the financing round)

This scenario allows DeWarmte to accelerate its strong growth trajectory, through allocating more funds on growing commercially, and speeding up hires and R&D development to facilitate this growth.

  • Commercial growth: 60% (1.8 mln) will be allocated to among others online and offline marketing campaigns, an experienced B2B sales manager, technical sales staff for the digital inspections and sales staff.
  • Organization: 20% (600k) will be allocated amongst others to hire installation, assembly and service managers to complete the team and optimize efficiency
  • R&D: 20% (600k) to finalize and iterate the development of the new all-electric solution and to develop further the webapp and its functionalities

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Minimum Scenario

(€ 1.5 million collected in the financing round)

This scenario allows DeWarmte to continue its strong growth trajectory, through a strong focus on growing commercially, with a lean and mean organization by spreading hires and R&D development over time.

  • Commercial growth: 60% (900k) will be allocated to among others online and offline marketing campaigns, an experienced B2B sales manager and technical sales staff for the digital inspections
  • Organization: 20% (300k) will be allocated amongst others to hire a Head of HR, and Finance to complete the team and optimize efficiency
  • R&D: 20% (300k) to hire software developers for further development of DeWarmte app and smart control functionalities and to develop new products in the DeWarmte product line up.

DeVijf Invest (a new investor) invested EUR 750,000 equity in this round. If the target amount is not reached, we will continue with DeVijf Invest, without Invesdor investors.

Rubio the current investor provided a convertible in 2023 of Eur 500,000 which will convert during this round leading to a total pledged cash of EUR 1.25 million.

Investor Amount
DeVijf Invest   750,000 €

Financial figures & growth

The financial figures and explanations regarding these figures you see below are provided by the company.

If you have any questions about the financials, please contact us at service@invesdor.com. We are in contact with the company to answer your questions as quickly as possible.

Figures in the tables below are presented in euros (excluding number of employees and %-figures).

ACTUAL FORECAST
2021 2022 2023 2024 2025 2026
Revenue 97,579 972,914 3,297,391 6,740,491 16,632,773 41,632,725
Cost of materials + external services (COGS) -204,149 -568,989 -1,518,441 -2,561,978 -6,247,658 -15,554,801
Gross profit -106,570 403,925 1,778,950 4,178,513 10,385,115 26,077,924
Other operating income 92,273 68,960 88,949 - - -
Personnel expenses/staff costs -99,320 -470,406 -723,792 -2,263,121 -3,778,906 -6,407,938
Other operating expenses  -78,880 -1,121,141 -1,976,770 -2,205,342 -3,830,081 -7,904,022
EBITDA -192,497 -1,118,662 -832,663 -289,950 2,775,128 11,765,964
Depreciation & Amortization -2,410 -26,626 -84,976 -93,970 -228,168 -518,631
Operating result (EBIT) -194,907 -1,145,288 -917,639 -383,920 2,546,960 11,247,333
Interest income/interest result -31,172 -39,968 -90,818 -112,323 -178,039 -211,093
Taxes 493 211,727 - - - -2,398,817
Net income after taxes (NIAT) -225,586 -973,529 -1,008,457 -496,243 2,368,921 8,637,423

ACTUAL FORECAST
2021 2022 2023 2024 2025 2026
Revenue growth % - 897% 239% 104% 147 150%
EBITDA growth % -197% -115% -25% -4% 17% 28%
Equity ratio % 42% 47% 54% 72%
Number of FTE 4 11 20 36 48 73

Actuals

2021: First Commercial Installation of the HeatCycle

Following funding from the Rabobank Innovationfonds in 2019, winning the ASN World Prize in 2020, and securing backing from Rubio Impact Ventures in 2021, DeWarmte achieved a significant milestone by completing its first commercial installation of the HeatCycle in 2021.

2022: Launch of the Pomp AO

Building on the momentum generated by commercial HeatCycle installations, DeWarmte introduced its second product, the Pomp AO, in 2022.

2023: Operational Readiness

In 2023, DeWarmte experienced substantial revenue growth driven by the Pomp AO in the D2C sector, while also initiating B2B pilots for both the HeatCycle and Pomp AO, laying the groundwork for future expansion. Gross margin enhancements were achieved through continuous optimization of installation processes and operational efficiency improvements. Operationally, DeWarmte maintained stable costs and dedicated significant resources to automating the customer journey and sales processes, preparing the company for scalability. The establishment of the service department led to over 90% of tickets being resolved remotely. Meanwhile, the R&D department made significant enhancements to the web application and commenced work on laying the foundations for the all-electric upgrade.

Forecast 

2024

In early 2024, DeWarmte embarked on its journey towards enhanced commercial growth with the launch of its new website, marking the initial phase of its strategic focus for the year. Additionally, a new investor joined forces with the company, bringing valuable expertise in B2B market development within the housing corporation and installation sector. This collaboration promises to fortify DeWarmte's position and pave the way for continued B2B expansion. Anticipated enhancements in gross margins are expected through ongoing optimization of installation processes, underscoring the company's commitment to efficiency and profitability. The eagerly awaited release of the All-Electric in Q3 represents a significant milestone, signaling DeWarmte's dedication to innovation and meeting evolving market demands. To support future growth and scalability, investments are earmarked for expanding the management team, ensuring a solid foundation for the company's trajectory towards profitability in the Netherlands.

2025

The primary objective for 2025 is to intensify our focus on growth and achieve a positive EBITDA. This will be accomplished through sustained sales expansion, a steadfast dedication to improving gross margins, implementing automated processes, and enhancing organizational efficiency. In Q1, we plan to refinance the ~EUR750k FundIQ loan, aiming to achieve this through bond issuance on platforms like Invesdor while also exploring other potentially more favorable debt options available in the market. Our strategic initiatives for the year also include commencing international expansion efforts, alongside laying the groundwork for a potential Series B funding round to support this endeavor. Additionally, our R&D team will maintain a relentless focus on enhancing our products and advancing software development capabilities.

2026

Anticipated for 2026 is a robust growth trajectory, driven by continued market momentum and the enforcement of Dutch regulations mandating the hybrid heat pump as a minimal requirement for replacing gas-fired boilers. Efforts will also be directed towards expanding our international footprint. 2027 With a solidified presence both in the Netherlands and abroad, our aim for 2027 is to sustain and build upon our momentum. Additionally, we will initiate preparations for a potential exit strategy or IPO, positioning ourselves for the next phase of our growth journey.

The annual statement 2023 is linked in the Key Investment Information Sheet (KIIS) in section A, point d).

Valuation

Icon Money

DeWarmte is valued at € 8.625 million pre-money.

This is a factor 1.5x increase on the last valuation from 2022 of € 4.7 million reflecting the strong growth the company has realized since then and the confidence in the business model and projected growth trajectory. A sales multiple of 2.6x was used to derive the valuation. The multiple is validated in particular by previous, comparable transactions in the heat pump sector in 2023 in Europe.

The current fundraising round will provide enough funds to reach break-even, planned to be reached in Q4 2024. The current financing round consists of the funding by the crowd, the anchor investor and subsequent conversion of the Rubio convertible and a conversion of the a part of the FundIQ convertible.

A refinancing is planned for the remaining part of the EUR 750,000 FundIQ convertible in Q1 2025. We have an LOI with Invesdor for issuance of bonds via the platform, whilst we will also investigate more cost effective options in the market.

The goal is to raise additional VC funding in 2025 for international expansion.

Investor

Type of funding

Year

Amount

Pre-money valuation
1 Rubio 1st tranche

Equity

 2021 800,000 € 2,400,000 €
2 Rubio 2nd tranche Equity 2022 500,000 € 4,700,000 €
3 FundIQ Convertible 2023 750,000 €
4 Rubio Convertible 2023 503,000 €
5 Nationaal Groenfonds Convertible 2023 500,000 €
6 DeVijfInvest Equity 2024 750,000 €

Exit scenarios

DeWarmte sees an exit to be relevant in 5 years. Rubio, the current shareholder, being a VC fund, also has an exit incentive.

Icon 1

Trade Sale: DeWarmte sees several trade sale opportunities in the market. For example by an incumbent fossil heating solution providers (e.g. Intergas - Rheem) for portfolio transformation reasons. Or by incumbent heat pump providers (e.g. Carrier, Remeha) to get D2C access and extend product portfolio towards smart and IOT solutions. Recent trade sale examples are the acquisition of Viessmann by Carrier (source). And the acquisition of Dutch Group Climate for Life (CFL) by NIBE (source).

Icon 2

IPO: The company sees an IPO as a likely scenario as well. To be able to comply with the minimum requirements for an IPO of e.g. having turned a profit in at least 3 of the past 5 years and at least € 5,000,000 in equity a timeline of 5 years could be suitable.

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PE: An acquisition by a PE could also be an option, serving as platform for a (or being acquired as part of) buy-and-build strategy.

Bonus

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Investments € 250 - € 9,750

Warming-up

As investor and co-owner of DeWarmte we give you priority on the installation queue for our brand new All-Electric heat pump

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Investments € 10,000 - € 24,750

Warm welcome

In addition to prioritizing your placement in the installation queue, we wish you a warm welcome to our assembly line, where you can witness the craftsmanship behind our heat pumps, while enjoying some snacks and drinks.

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Investments  ≥ € 25,000

Warm heart

Besides the priority and warm welcome in our assembly you will receive a voucher that gives you a free activation of the cooling function (worth €750.-) of the Pomp AO.

Updates

UPDATE 27.05.2024: DeWarmte has decided to prolong their funding round on Invesdor's platform with one week. 


In the last couple of weeks heat pump were hot topic due to various news items in Dutch media.
Last Thursday DeWarmte organized a Q&A in which they gave more context about these news items. Today, DeWarmte has successfully surpassed their first funding goal of €1,500,000.
This allows them to invest in commercial growth through radio campaigns, multi-channel marketing campaigns and more face-to-face contact with customers.
By prolonging the campaign, DeWarmte wants to give more people the opportunity to check the outcome of the Q&A. Read the latest updates and FAQ’s and gain insights in the new market situation and how DeWarmte is well-positioned to make a positive financial and environmental impact.

UPDATE on 24.05.2024: Webinar recording 

DeWarmte had a Q&A webinar on 23.5.2024 with Sander, the Co-founder of DeWarmte. 

UPDATE 17.05.2024 

Update Governmental plans

On Thursday 16-05-2024, the new Dutch cabinet, through the coalition agreement of PVV, VVD, NSC and BBB, presented a new coalition agreement, showing its objective for policy in the coming mandate period.

Basically, it gives good news for anyone who wants to make their home more sustainable. We can continue to make use of the ISDE subsidy. The coalition agreement did not disclose anything about adjusting and/or dropping the ISDE subsidy.

Investeringssubsidie duurzame energie en energiebesparing (ISDE) is a subsidy you get from the government for energy-saving and sustainable measures in your home or business premises.

The coalition agreement does intend to draw a line under the compulsory hybrid heat pump when replacing the central heating boiler in situations where the payback period is 7 years or less. If this is actually implemented, we expect this to cause a limited growth decline from 2026 onwards compared to the current forecast.

Despite this objective of the new government, our vision remains unchanged. We believe in a gas-free future, both for climate reasons and for energy independence. Our heat pump is still a financial no-brainer. The payback period on energy bills is between 2 and 7 years. If you include the sustainability discount you get on the mortgage, it is even shorter. Do you include the energy label and the associated house value increase? Then the heat pump pays for itself more than 10x, in an average home, immediately after installation.

According to Techniek Nederland, heat pump owners are extremely satisfied. 95% of heat pump owners answer yes to the question, "Do you currently recommend a heat pump to other homeowners?" And among all heat pump owners, DeWarmte’s customers give the highest review scores. With a report rating of 9.6 (4.8 out of 5 on google reviews), DeWarmte is by far the best rated heat pump company on the Dutch market.

We see the future as sunny and gas-free. We remain committed to gradually taking Dutch households off the gas and you can help us now!

By investing in DeWarmte, you can become a co-owner of DeWarmte and make a direct contribution to a gas-free society.

UPDATE 17.05.2024  

Update Heat pump market

The news is talking about a decline of the heat pump market in 2024.

Looking more closely at the figures mentioned, it is mainly about a decline in heat pumps for new builds as the number of newly built houses has fallen. DeWarmte focused 100% on existing buildings. The number of ISDE subsidies applied for existing buildings has remained the same [source]. 

Despite challenges in the market in Q1 2024 due to lower gas prices, high prices for heat pumps and uncertainty about political policy in the Netherlands, DeWarmte has seen its turnover grow in Q1 2024 compared to Q1 2023. In fact, the number of reservations more than doubled compared to Q1 2023.

We read a lot in the news that growth is being held back partly because heat pumps are too expensive, the installation process is complicated, there are too few installers available or that due to grid congestion heat pumps cannot be installed at all. DeWarmte addresses precisely these pain points. 

The company takes care of the entire process for your silent, stylish and smart heat pump. With DeWarmte's software, you too will be ready for the future. With the push of a button, updates are put on your installed heat pump. For example, to combat grid congestion, save more with dynamic contracts and through integration with solar panels. And all that for a net €3,400 compared to an average market price of €5,700.

Installation speed is also one of DeWarmte's key USPs. The unique control system allows DeWarmte's heat pump to be installed more easily. As a result, DeWarmte can now install a heat pump within 6h on average, sometimes even 2 in 1 day. Competitors often take 2 days to install 1 heat pump. This efficiency means that fewer installers are needed. In addition, DeWarmte notices that installations also like to work for them and even suggest their network of installers to DeWarmte to get started. With this, DeWarmte has more than enough availability of installers.

UPDATE 16.05.2024: Investor Q&A 

What is the goal of DeWarmte's funding campaign?

DeWarmte aims to raise 3 million euros to further advance our mission of 100% sustainable heat. This capital will be used to grow our sales in the Netherlands and in Europe. In addition, we will make the necessary expenditures on organization and R&D to facilitate this growth

What is the minimum investment I can make?

The minimum investment is 48 shares (€251.04), with which we want to give a wide range of investors the opportunity to be part of our mission to contribute to 100% sustainable heat.

What do I get for my investment?

For your investment, you will receive certificates entitling you to shares in DeWarmte, making you a co-owner and benefiting from the company's financial success.

How can I invest?

Investments can be made directly through the crowd funding platform Invesdor. Follow the instructions on the platform to complete your investment safely and easily.

Are there any risks associated with my investment?

As with any investment, there are risks associated with your investment. Of course, DeWarmte is fully committed to achieving a significant increase in value. Certificate holders will receive at least an annual update, including the Annual Accounts.

Have you laid down anything anywhere about dividend payments? When and when not?

In this growth phase, achieving revenue growth has priority over dividend payments. Decisions on dividend distribution are carefully taken in accordance with the Shareholders' Agreement (SHA), which lays down rules on the conduct of business.

What is the expected increase in value of the organization over the years?

We are currently active in the venture capital journey, with both our founders and our investors Rubio and De Vijf Invest aspiring to significant growth. Our goal is to achieve an 8-12x increase in value within 4-6 years, which fits within our ambition to generate significant returns for our investors.

What is a heat pump and how does it work?

A heat pump is a device that transfers heat energy from a source (e.g., air) to a destination (e.g., water), usually for heating or cooling purposes. It works on the principle of moving heat rather than generating it, making it highly efficient. It works by circulating a refrigerant through a cycle of evaporation and condensation, absorbing heat from one place and releasing it at another. The Pump AO is an air-water heat pump; the HeatCycle uses a water-water heat pump. 

What makes heat pumps a promising investment opportunity?

Heat pumps offer significant advantages over traditional heating and cooling systems in terms of energy efficiency, cost savings and environmental impact. With an increasing emphasis on sustainability and energy efficiency, the demand for heat pumps is growing rapidly, providing a lucrative investment opportunity.

What makes DeWarmte unique?

DeWarmte is an innovative heat pump company. With its integrated D2C business model (which includes eliminating unnecessary margins and direct customer contact) and focus on research and development (including in-house developed smart controls), DeWarmte offers:

  • The fastest and plug-and-play installation (average of 6 hours and often within half a day);
  • Flexibility in placement, allowing more freedom for the customer to choose the location;
  • Best-in-class specifications, fair and transparent pricing, and an effortless customer experience;
  • Award-winning design;
  • Quality assurance through Dutch quality control in Utrecht, quality brand compressor and high quality installation work;
  • The power is all-electric ready and easy to upgrade to all-electric. In addition, the software is ready for the energy market of the future and will soon be able to respond to the presence of solar panels, dynamic contracts and help prevent grid congestion);
  • In addition, the in-house developed software provides:
    • real-time insight into actual electricity and heat readings;
    • instant control over heat pump settings;
    • IoT product with over-the-air updates (in other words, the hardware purchased now grows in software with the energy market).

What will the funding be used for?

The funding is used to increase sales, strengthen the team to facilitate growth, and R&D to grow with the capabilities and needs of the market.

Commercial growth: A significant portion of the funds raised will be used to increase marketing and sales efforts (e.g. radio campaign, LTV campaign, hire B2B business developer, expand Sales team). The company aims to increase interaction with the target audience and the ability to guide them through the transition to sustainable heating.

Organization: Part of the funding will be allocated to strengthen the team to support this growth trajectory and optimize the efficiency of the organization (e.g. expand assembly and installation capacity).

R&D: Part of the funding will be reserved for ongoing product development initiatives. The research and development team continues to improve and grow with market opportunities and needs (e.g. realization of the all-electric heat pump, a native DeWarmte app, integration smart thermostats, integration dynamic tariffs, "smart control" based on AI).

Why do you mention 3,000 installed heat pumps by the end of 2024 in some places and 2,000 in others?

In the positive scenario, the goal is to have a total of 3,000 products installed by the end of 2024. The financial forecast calculates with a total of 2000 products installed. This is the base case and is deployed more conservatively.

What is your long-term vision and growth trajectory?

Our long-term vision is to become a leading player in the heat pump industry in Europe and accelerate the transition to sustainable heating and cooling solutions in Europe. We are committed to continuous innovation, expansion and value creation for our customers, investors and stakeholders. With a clear growth strategy and a talented team, we are confident in our ability to capitalize on market opportunities and deliver long-term value and impact. With a.o. the launch of all-electric in Q3 2024 and the goal to expand into Germany in 2025.

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Ausgezeichnet als Top-Innovator 2021

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Crowdfunding platform 2023.

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