# HeatMatrix Group

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/heatmatrix-group

- Industry: Power & Utilities
- Headquarters: Netherlands
- Website: www.heatmatrixgroup.com
- Total disclosed funding: $3.3M
- Latest round: Series B (Apr 16, 2014)
- Investors on record: 4

## About

HeatMatrix Group BV specializes in innovative heat recovery systems aimed at enhancing energy efficiency for industrial processes by reclaiming and repurposing waste heat, thereby reducing emissions and operational costs.Founded in 2008 in the Netherlands, HeatMatrix Group BV focuses on developing heat recovery solutions for industries that generate waste heat. The company has evolved its business strategy to target a broad spectrum of sectors, including food and beverage, manufacturing, and chemicals. The CEO, Peter Van Veelen, leads the company, which has successfully raised a total of EUR 2.4 million, primarily from its most recent funding round, a Series B investment on April 16, 2014, led by NBI Investors and supported by Dürr AG, Oost NL, and Sirius Venture Partners.HeatMatrix specializes in heat recovery systems designed to optimize energy efficiency for industrial processes that generate waste heat, such as exhaust gases, baking vapors, and warm air flows. The company's core offerings focus on reclaiming and repurposing this lost heat, which can significantly reduce carbon dioxide emissions and energy costs for clients. By implementing these systems, HeatMatrix helps organizations comply with stringent environmental regulations while enhancing their sustainability initiatives. The company's solutions cater to a diverse client base across various sectors, including food and beverage, bakery, manufacturing, and chemical industries. With nearly two decades of experience, HeatMatrix serves markets across Europe, specifically targeting industries that face challenges related to heat waste management and regulatory compliance.HeatMatrix operates primarily on a B2B model, engaging directly with industrial clients to implement tailored heat recovery solutions. Business transactions are structured around project-based agreements, where clients commission HeatMatrix to design and install heat recovery systems that meet their specific operational needs. The revenue model includes fees for design services, installation, and ongoing maintenance of the systems provided. The focus on delivering customized solutions allows for flexibility in pricing, which is determined based on the scope and complexity of the projects undertaken. Through this direct engagement, HeatMatrix ensures alignment with client sustainability goals while generating revenue from its comprehensive suite of heat recovery systems.In April 2014, HeatMatrix received EUR 2.4 million in Series B funding, which will be utilized to enhance research and development efforts for new product offerings targeting improved heat recovery technologies. The company plans to expand its market presence within Europe, specifically aiming to enter the Scandinavian and Eastern European markets by 2025. This strategic growth is aimed at capitalizing on the increasing demand for energy-efficient solutions in industries facing strict environmental regulations.

## Funding rounds

- Series B, Apr 16, 2014, $3.3M — Sirius Equity Partners, Oost NL, SHIFT Invest, Dürr AG

## Investors

- Sirius Equity Partners (https://capitalatlas.ai/funds/sirius-equity-partners) — Series B
- Oost NL (https://capitalatlas.ai/funds/oost-nl) — Series B
- SHIFT Invest (https://capitalatlas.ai/funds/shift-invest) — Series B
- Dürr AG — Series B