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CapMan Infra’s newly founded company Heatly offers environmentally friendly ground source heat as a service


CapMan Infra Press Release
17 February 2022 at 08:00 a.m. EET

CapMan Infra’s newly founded company Heatly offers environmentally friendly ground source heat as a service

Heatly, a company founded by CapMan Infra, acquired St1 Lähienergia Oy’s ground source heat plant portfolio and started operations in the beginning of December, establishing a new player in the ground source heat sector in Finland. The company seeks to further accelerate ground source heat investments. In the beginning of the year, Heatly signed its first ground source heat contract with a significant owner of rental properties in Southern Finland.

The share of properties utilising ground source heat has been rising steadily in Finland over the last ten years. For some time already, it has been a sought-after, cost-efficient and sustainable choice in single family new-builds. With rising energy prices and green specifications for properties becoming more pronounced, ground source heat is an increasingly popular and workable option to be applied on a broader scale, including in apartment building construction.

With its focus on ownership of ground source heat plants, Heatly’s solution is based on a brand-new concept: ground source heat as a service. A ground source heat contract provides the customer with ground source heat without an initial investment. The contract offers customers long-term service with full maintenance and predictable heating costs. Heatly invests in the ground source heat plants on behalf of the customers and delivers heating directly to the customers’ property.

St1 Lähienergia builds and maintains ground source heat plants owned by Heatly and is responsible for the sales and marketing of the ground source heat contracts. This partnership was launched between CapMan Infra and St1 Lähienergia in September 2021.

“Ground source heat is an excellent solution: it’s environmentally friendly, durable, cost efficient and offers a cooling option in the summer heat. The CO2 emissions are considerably lower compared to traditional electric and oil heating. With Heatly, we offer ground source heat as a service without initial investments and thus provide ground source heat as an option to a much more diversified group of households than before, supporting a broad-based transfer to cleaner heating solutions,” says Sauli Antila Investment Director at CapMan Infra.

Heatly and Tuusulan kunnan kiinteistöt Ltd (Tukuki) have signed a ground source heat agreement regarding delivery of heating energy to a rental property owned by Tuusula municipality. Tukuki offers safe, high-quality, and reasonably priced homes and is guided by the values of co-operation, responsibility, vitality, and development. These values perfectly match the heating solution offered by Heatly’s life-cycle model and a solution that allows heating costs to be predicted for decades forward. Living conditions are also monitored in real time, assuring comfort of the tenants.

For more information, please contact:

Sauli Antila, Investment Director at CapMan Infra, +358 40 658 9708

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With over €4 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs around 160 people in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at

About Heatly

Heatly invests in a ground source heat plant for you. We are a company specialized in owning ground source heat plants and offer ground source heat solutions together with our partner St1 Lähienergia. We offer a carefree life-cycle model to properties that want to make savings in their heating costs and transition towards more environmentally friendly energy usage. With a ground source heat -contract the client gets ground source heating with without an initial investment. The contract offers clients long-term service with full maintenance and predictable heating costs. At the same time, we take care of the maintenance and make sure the plant is running throughout its life cycle.  St1 Lähienergia builds and maintains ground source heat plants owned by Heatly. Heatly is a subsidiary of Loviisan Lämpö Oy. The group is owned by and receives investments from the CapMan Nordic Infrastructure I -fund.