Heat pumps, a type of reverse-refrigerator used for warming homes, are not the type of tech that gets most investors hot and bothered. They were, after all, invented in 1856. Harald Mix and Carl-Erik Lagercrantz, two Swedish financiers, see things differently.
The pair, whose investment group Vargas is behind Northvolt, a battery maker, and H2 Green Steel, which uses green hydrogen to produce steel, sense there are a big bucks in replacing Europe’s many oil and gas boilers with heat pumps. Earlier this year Aira, a company founded by Vargas, launched a new product that it hopes will entice more people to make
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