Living spaces for generations to come
BayernLB is bolstering Viessmann, a worldwide leader in climate solutions, on its innovative path towards becoming the top provider of integrated energy and climate solutions. The international, family-run company headquartered in the quiet German town of Allendorf is making it its mission to help curb climate change and keep global warming below the 1.5°C target threshold. Over the next three years, investments of an unprecedented scale are slated to take place: a billion euros will be put towards research and development in green climate technologies and increasing production capacities – the biggest investment of its kind in the company’s 105-year history. “A major milestone for our company”, as Dr Ulrich Hüllmann, CFO & Viessmann Group Executive Board member, put it. “Our historic investment decision is coming at a time when we’re laying the foundations for the next 105 years – for ourselves and, much more importantly, future generations.”
Jan Prieshof, who heads BayernLB’s Construction & Infrastructure sector, is convinced: “Viessmann is an active player and major driver of the energy reform. For us, as financiers of progress, it’s one of the key corporate customers that we can join forces with in the push for viable energy solutions.” With a view among other things to making Europe less dependent on the geopolitics of the energy market, and to the no-less-important fight to keep climate change in check, Viessmann is speeding up its growth through targeted investments in heat pumps and green climate solutions. Dr Ulrich Hüllmann: “It’s good to know that we have BayernLB, a reliable financing partner in our group of banks, on board with our plans. We value our longstanding partnership and the outstanding, focused work we’ve been doing together.”
Founded in 1917 as a locksmith business, the family company soon laid the groundwork for innovative heating products. It has long since morphed from a classic furnace manufacturer to a global provider of integrated, sustainable solutions in climate (heating, cooling and air and water quality) and renewable energy technology. Viessmann has 22 production facilities in 12 countries and 68 distribution companies in 31 countries, as well as 120 sales offices. Its consolidated earnings for 2021 stood at EUR 3.4 billion and have been rising steadily thanks not least to the high demand for green energy solutions. The climate tech giant has 13,000 employees, all of whom – true to the company’s declared purpose – are creating living spaces for generations to come.