# Stiebel Eltron plans over EUR 600 million investment in heat pump production

Stiebel Eltron announced plans to invest more than 600 million euros to expand heat pump production capacities, finance R&D, and create 400 new jobs in Lower Saxony, Germany.

- Type: Investment
- Announced: 2022-08-30
- Where: Lower Saxony, Germany, Germany
- Value: $600.0M (600.0M EUR)
- Jobs: 400
- Status: announced
- Products: heat pumps
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Stiebel Eltron](https://endata.com/companies/3162.md)

## Sources

- [businesswire.com](https://www.businesswire.com/news/home/20220830005434/en/German-Heat-Pump-Boom-To-Do-Without-Russian-Gas-Stiebel-Eltron-Invests-600-Million-Euros), 2022-08-30: "Environmentally friendly heating technology does not require oil and gas and is therefore of outstanding importance both for climate protection and for Germany's energy supply security."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.