A Brewer company that makes heat pump water heaters received an infusion of venture capital this week, and plans to hire 200 employees for a new plant in Bangor.
CEO Ton Mathissen says Nyle Systems' hot water heat pump business tripled each of the last two years, even before the federal Inflation Reduction Act included heat pump incentives.
He says about 80% of the heat pumps are sold in the U.S., and the rest in Canada. But this $6 million investment from Aligned Climate Capital, which focuses on companies that can reduce greenhouse gas emissions, could allow the company to expand into other international markets.
"Most of our business is the large commercial units," Mathissen says. "So we're talking about putting heat pump units on the roofs of hotels, and university dorm buildings, and so on and so forth."
Mathissen says the company is also developing a new generation of residential heat pump water heaters he hopes to have on the market in the next year or two. About 35 employees will move over to the new plant in a city-owned building in Bangor, with plans to hire another 200.
