“With our clear commitment to heat pumps and the resulting expansion of our production facilities in Vaduz and Istebné, we are strengthening our position in the field of renewable energies,” said Fabian Frick, co-chief executive of the Hoval Group.

Roadmap for the future

The new heat pump production facility at the Vaduz site began operations in September, and the first heat pumps produced here have already gone into distribution. The second facility at Istebné is set to start work in spring 2023 and a new state-of-the-art plant next to the existing premises, is scheduled to commence operations in early 2024, employing more than 500 people when complete. The total investment will amount to around EUR 60 million.

As part of this expansion project, the corporate group will be making further investments in logistics and increasing staffing levels significantly in the areas of heat pump development and control technology.

Traditional full-service provider

At an early stage Hoval recognised that products alone are not enough to meet the needs of the market or to tackle the climate crisis. “As a full-service provider, we need to understand our customers and develop intelligent solutions that fulfil their individual needs,”says co-chief executive Peter Gerner. “By combining our products, systems and services and increasing the level of Internet of Things integration, the company is fully prepared for the challenges of the future,” he added.