Exocon secures financing of nearly EUR 2 million

The financing package secured by Exocon, founded in 2020, comprises private investment funding, research and development funding granted by Business Finland, and financing from Finnvera.

This significant capital investment enables the company to strengthen its organisation and accelerate the commercialisation of its technology both domestically and internationally. Exocon’s solutions have been developed for the electrifying heating market, where energy consumption must become intelligent, controllable and flexible.

Jarmo Lehto, CEO of Exocon, sees the financing as a strong vote of confidence in the company’s technology and vision. “The energy transition requires solutions that work not only in marketing slogans but also in the harshest frosts. This financing is a signal that there is an urgent market need for technology genuinely designed for northern conditions,” Lehto explains. “With this financing, we are accelerating our product development and taking our intelligent heat pump systems to broader markets. We are not just selling equipment – we are building a more sustainable and intelligent energy system that secures heat production even at temperatures as low as -35°C.”

Sustainability and societal security of supply

Exocon stands out in the market by combining refrigeration technology, software and services into a seamless whole. Its units use natural refrigerants and are designed for a lifecycle of up to 30 years.

The company’s systems produce heat reliably and efficiently exactly when demand is at its highest. This significantly reduces the need for direct electric heating, eases the load on the electricity grid, and contributes to societal security of supply. System operation is supported by the ExoCare service and ExoFlex optimisation, which bring together equipment, digital control and capacity assurance.

With this financing, Exocon is better equipped to meet growing demand and to offer its customers measurable annual benefits, rather than isolated test-point results alone.

Further information and interview requests: Jarmo Lehto, CEO, Exocon Oy, tel. +358 40 833 1131

Exocon Oy in brief: Exocon is a Finnish energy technology company founded in 2020 that develops and manufactures next-generation heat pump and energy systems for extreme northern conditions. The company’s solutions combine natural refrigerants, intelligent control and a durable, long-lifecycle design. Exocon’s products are designed and manufactured in Finland. Further information is available at exocon.fi.