Mitsubishi Heavy Industries is collaborating with Swedish heating manufacturer NIBE Industrier to develop heat pump technology to target the European air-to water heat pump market.
Harnessing knowledge from MHI's inverter type heat pump technology with NIBE's hot water storage technology, the firms will develop air-conditioning/hot water supply products which they will market under their own brand names.

MHI is targeting the residential heating and hot water supply market in western and northern Europe by developing a new product consisting of an outdoor unit plus a heat exchanger unit which incorporates a heat storage tank.

NIBE has three business areas: NIBE Element, NIBE Heating and NIBE Stoves. NIBE Heating manufactures heat pumps, water heaters, domestic boilers and district heating equipment. NIBE employs 5,500 people.