Aira was founded in 2022 by Vargas, the Swedish investment firm and company builder that’s also behind climate tech unicorns Northvolt and H2 Green Steel. Aira’s new €200m debt vehicle will be used to sell heat pumps to consumers in Germany via monthly payment instalments, starting at €80 per month. Aira is also active in the UK and Italy but this debt facility won’t service customers in those regions.