We built on the foundation laid by SET Ventures’ report on the residential heat pump sector to create a Market Map of 450+ companies using Specter’s proprietary data platform. The landscape covers the full spectrum of innovations enabling heat pump deployment — from hardware manufacturers, component suppliers, and installation services to energy management software, smart controls, retrofit financing, and digital platforms that streamline deployment at scale.

With heating and cooling accounting for nearly 50% of Europe’s energy use, and hundreds of millions of buildings still relying on fossil fuel systems, regulatory tailwinds (like boiler bans and heat pump targets) are creating a massive shift toward electrification. This map reveals the ecosystem building that transition: not just green claims, but real infrastructure and scalable tools powering the future of sustainable home heating.

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Platforms & SaaS

autarc (🌟 Specter Rank #2319)
Having raised $9.4M and positioned in the Pre-seed/Seed stage, the company targets heating installers with a software platform that optimizes heat pump planning and sales. Its competitive edge lies in AI and LiDAR technology, enabling rapid, precise heat pump plans, enhancing offer quality by 90%. Founding team includes Etienne-Noel Krause, Thies Hansen, and Marius Seufzer, all holding executive roles. With 39 employees and a LinkedIn following indicative of strong network engagement, the company shows a promising hiring velocity. Founded in 2023 and backed by investors like Y Combinator, better ventures, and notable individuals such as Christian Vollmann. HQ in Berlin, autarc's platform is utilized by over 500 heating companies. With 23,499 monthly web visits, the company demonstrates solid traction. Its flexible subscription model supports scalability in the European market.

Key Performance Indicators: Team size: 39 employees • Capital raised: $9.4M • Monthly web visits: 23,499 • Company maturity: 2 years • Growth stage: Pre-seed/Seed • Investor network size: 9

Boldr (🌟 Specter Rank #8852)
Raised $4.5M. Positioned in the Pre-seed/Seed stage, it targets residential energy management, offering a platform that integrates home energy assets to optimize usage and reduce costs. Led by Toma Paro, the company employs 40 people. The leadership is supported by a strong operational focus, with a growing LinkedIn network and dynamic hiring practices. Founded and supported by Techstars and Norrsken VC. Based in London, Boldr's platform is gaining traction with 17,404 monthly web visits. Its innovative approach to energy management positions it well in the European market.

Key Performance Indicators: Team size: 40 employees • Capital raised: $4.5M • Monthly web visits: 17,404 • Company maturity: 3 years • Growth stage: Pre-seed/Seed • Investor network size: 10

enshift (🌟 Specter Rank #10885)
Enshift, with $6.2M raised, focuses on renewable energy solutions for properties. Positioned in the Pre-seed/Seed stage, it offers comprehensive energy services, enhancing ESG ratings and reducing costs. Founded by Pierre Bi, enshift employs 39 people. The leadership's strategic vision is supported by a robust network and a focus on sustainable energy solutions. Founded in 2022 and backed by Rocket Internet and Global Founders Capital. HQ in Baar, Switzerland, enshift's platform is gaining traction with 4,560 monthly web visits.

Key Performance Indicators: Team size: 39 employees • Capital raised: $6.2M • Monthly web visits: 4,560 • Company maturity: 3 years • Growth stage: Pre-seed/Seed • Investor network size: 9

Reonic (🌟 Specter Rank #100)
Reonic, with $14.4M raised, operates on renewable energy system management. Positioned in the Early Stage, it offers a comprehensive software solution for energy project management. Co-founded by Udo Sill, Tristan Menzinger, and Manuel Schneider, Reonic employs 64 people. Founded in 2021 and supported by Northzone and Point Nine. Based in Augsburg, Germany, Reonic's platform is gaining traction with 50,607 monthly web visits. Its innovative approach to energy management positions it well in the European market.

Key Performance Indicators: Team size: 64 employees • Capital raised: $14.4M • Monthly web visits: 50,607 • Company maturity: 4 years • Growth stage: Early Stage • Investor network size: 4

E2E OEM

Adia Thermal (🌟 Specter Rank #10881)
Adia Thermal has raised $0.74M, operating at the Pre-seed/Seed stage. The company targets customers seeking efficient heating solutions, leveraging competitive advantages like rapid installation and cost-effective energy systems. Leadership includes Nikita Smeshko, CFA, Co-Founder & CFOO, Luke Hodgkinson, CEO & Founder, and Shaun Kaufmann, PhD, Co-Founder. The team is supported by 13 employees, with a positive hiring growth rate. Founded in 2023 backed by Blackfinch Ventures, Carbon13, Cur8 Capital, Desai Ventures, SFC Capital, and Twynam Agricultural Group. HQ in London, UK. The company reports 976 monthly web visits, reflecting growing market interest. Recent news highlights include significant investments and strategic advancements in the UK heat pump market.

Key Performance Indicators: Team size: 13 employees • Capital raised: $0.74M • Monthly web visits: 976 • Company maturity: 2 years • Growth stage: Pre-seed/Seed • Investor network size: 6

Rendesco (🌟 Specter Rank #3676)
Rendesco is a leader in geothermal heating networks, having raised $7.65M. Positioned in the Early Stage, the company targets housing developments with low-carbon solutions, leveraging a unique dataset for innovation. Led by Alastair Murray, CEO, Rendesco's team of 60 employees is indicative of robust operational capacity. Founded in 2012 and supported by Aviva Ventures, Clean Growth Fund, and Eurazeo. HQ in London, UK.

Key Performance Indicators: Team size: 60 employees • Capital raised: $7.65M • Monthly web visits: 961 • Company maturity: 13 years • Growth stage: Early Stage • Investor network size: 3

Aira (🌟 Specter Rank #4095)
Aira raised $710.52M. At the Growth Stage, the company targets residential markets with clean energy solutions, focusing on heat pump technology. Aira's substantial team of 698 employees reflects significant operational scale and leadership depth. Founded in 2022 and backed by Altor, BNP Paribas, Collaborative Fund, Creades AB, Kallskär, Kinnevik, Lingotto, Nesta Impact Investments, Statkraft Ventures, and Temasek Holdings, providing robust strategic support. Based in Stockholm, Sweden, Aira reports impressive web traffic of 708,957 monthly visits.

Key Performance Indicators: Team size: 698 employees • Capital raised: $710.52M • Monthly web visits: 708,957 • Company maturity: 3 years • Growth stage: Growth Stage • Investor network size: 10

Financing

Prets (🌟 Specter Rank #56365)
Prets has raised $1.1M, operating in the Pre-seed/Seed stage. The company targets homeowners seeking sustainable upgrades, offering competitive advantages through personalized ROI insights and seamless integration with energy retailers. Team comprises Gerard van Swieten and Eugene Lubbers with 13 employees. Founded in 2023 and supported by investors like Innovatiefonds Noord-Holland, Rockstart, and Rubio Impact Ventures. Based in Amsterdam.

Key Performance Indicators: Team size: 13 • Capital raised: $1.1M • Monthly web visits: 255 • Company maturity: 2 years • Growth stage: Pre-seed/Seed • Investor network size: 3

GO PONTIO (🌟 Specter Rank #169559)
Raised $552K. GO PONTIO is in the Pre-seed/Seed stage, focusing on installers of sustainable projects in Spain, offering digital financing solutions to enhance sales. Founded in 2021 and supported by CASTIVENTURES, S.L.. HQ in Madrid, the company sees 1,049 monthly web visits. Its business model centers on providing free, flexible financing solutions to installers, enhancing customer relationships and sales growth.

Key Performance Indicators: Team size: 33 • Capital raised: $552K • Monthly web visits: 1,049 • Company maturity: 4 years • Growth stage: Pre-seed/Seed • Investor network size: 1

Atmos Financial (🌟 Specter Rank #191614)
Atmos Financial is a fintech firm facilitating clean energy transitions, with $600K in total funding. Operating in the Pre-seed/Seed stage, it targets both residential and commercial sectors with specialized lending solutions. Co-founded by Ravi Mikkelsen and Pete Hellwig, the company employs 17 people. Backed by investors like Ground Squirrel Ventures and K Street Capital indicate strong financial backing. Based in Emeryville, California, Atmos Financial boasts 13,733 monthly web visits. Its business model focuses on turnkey loan origination for clean energy projects, supported by a comprehensive digital platform.

Key Performance Indicators: Team size: 17 • Funding: Not disclosed • Monthly web visits: 13,733 • Company maturity: 5 years • Growth stage: Pre-seed/Seed • Investor network size: 2

Bullfinch (🌟 Specter Rank #184569)
Bullfinch targets installers with flexible financing solutions for solar systems and energy-efficient technologies. Led by Jannes Fischer, Simon Bartmann, Felix Kaiser, and Sebastian Grabert, CFA, the team comprises 58 employees. With $10.1M raised, Bullfinch is advancing through its Early Stage, supported by investors like 10x Value Partners, EWE AG, Elevate Capital, Impax Asset Management, and MOMENI Ventures. HQ in Frankfurt, Germany, Bullfinch reports 3,299 monthly web visits. Its business model focuses on rental and hire-purchase solutions for energy-efficient installations, with a strong international presence.

Key Performance Indicators: Team size: 58 • Capital raised: $10.1M • Monthly web visits: 3,299 • Company maturity: 6 years • Growth stage: Early Stage • Investor network size: 5

Installers & Channels

Electric Air (🌟 Specter Rank #22672)
Electric Air operates in simplifying the heat pump installation process. With $0.5M raised, the company is in the Pre-seed/Seed stage, targeting homeowners seeking efficient, cost-effective heating solutions. Its competitive advantage lies in leveraging technology to enhance customer experience and affordability. Leadership team includes Shreyas Sudhakar, Co-Founder and COO, Chris Mui, Founder and CTO, and Jeremy Osborne, Founder and CEO. The team, with experience from Tesla and SpaceX, drives innovation with a small but strategic workforce of 4 employees. Founded in 2023 and backed by Leap Forward Ventures and Y Combinator, providing strong validation and potential for follow-on funding. Based in San Francisco, Electric Air reports 2,066 monthly web visits, indicating growing interest. The business model focuses on direct-to-consumer sales, supported by a robust technology stack.

Key Performance Indicators: Team size: 4 employees • Capital raised: $0.5M • Monthly web visits: 2,066 • Company maturity: 2 years • Growth stage: Pre-seed/Seed • Investor network size: 2

nuuEnergy (🌟 Specter Rank #39635)
nuuEnergy is redefining the heat pump industry with a focus on premium quality, targeting environmentally conscious consumers. Led by Tobias Klug, CEO & Co-Founder, and David Paez, Co-Founder & CTO, the team of 23 employees is poised for growth. Supported by Bynd Venture Capital, Enjoyventure Management, HTGF, Vireo Ventures, and better ventures, nuuEnergy benefits from a diverse investor base. Headquartered in Munich, the company attracts 3,602 monthly web visits. Its business model emphasizes sustainability and efficiency, supported by a comprehensive tech stack.

Key Performance Indicators: Team size: 23 employees • Funding: Not disclosed • Monthly web visits: 3,602 • Company maturity: 2 years • Growth stage: Pre-seed/Seed • Investor network size: 5

Helio Home (🌟 Specter Rank #40142)
Helio Home has raised $3.8M to transform home heating solutions. Positioned in the Pre-seed/Seed stage, it targets homeowners seeking energy-efficient upgrades. Led by Eric Reinhardt, Founder and CEO, and Clay Dusel, Co-Founder. Founded in 2021 and backed by Liquid 2 Ventures, Lowercarbon Capital, MCJ, Matchstick Ventures, and Powerhouse Ventures. Based in Denver, Helio Home reports 26,384 monthly web visits, indicating strong market interest.

Key Performance Indicators: Capital raised: $3.8M • Monthly web visits: 26,384 • Company maturity: 4 years • Growth stage: Pre-seed/Seed • Investor network size: 5

Daylight (🌟 Specter Rank #4541)
Daylight, a decentralized energy company, has raised $13.2M to revolutionize home energy systems. In the Early Stage, it targets homeowners with its innovative energy generation and management solutions. Leadership team includes Jason Badeaux, Co-Founder & CEO, Udit Patel, Co-Founder/CTO, Evan Caron, and Dallas C. Griffin with 19 employees. Founded in 2022 and supported by CoinShares, Digital Currency Group, Escape Velocity, Framework Ventures, Lattice Capital, Lerer Hippeau, VaynerFund, and a16z crypto. HQ in Austin, Daylight reports 3,866 monthly web visits. Its business model focuses on decentralized energy solutions, supported by a sophisticated tech stack.

Key Performance Indicators: Team size: 19 employees • Capital raised: $13.2M • Monthly web visits: 3,866 • Company maturity: 3 years • Growth stage: Early Stage • Investor network size: 9

Lead Generators

UpSmith (🌟 Specter Rank #11855)
UpSmith focuses on AI solutions for the skilled trades industry. With $8.3M raised, the company is in the Pre-seed/Seed growth stage. Its competitive advantage lies in its AI-driven automation and personalized customer engagement. Led by Wyatt Smith, Founder & CEO, the team consists of 14 employees. Founded in 2022 and backed by prominent investors such as Accel, Andreessen Horowitz, and GSV Ventures, among others. HQ in Dallas, Texas, UpSmith reports 2,401 monthly web visits. Its business model integrates AI with existing systems like ServiceTitan, aiming to transform trades businesses. Recent news highlights include the launch of an AI tool for skilled trades, underscoring its innovative edge.

Key Performance Indicators: Team size: 14 employees • Capital raised: $8.3M • Monthly web visits: 2,401 • Company maturity: 3 years • Growth stage: Pre-seed/Seed • Investor network size: 13 investors

Arch (🌟 Specter Rank #23097)
Arch AI specializes in AI-driven HVAC marketing solutions. With $6.2M raised in the Pre-seed/Seed stage, targeting HVAC professionals to optimize marketing ROI through AI-enhanced predictive analytics and hyper-personalized campaigns. Co-founded by Sacha Schmitz and Phil Krinner, the team comprises 14 employees. Founded in 2022, investors include Coatue, Floodgate, and ReGen Ventures. Based in San Francisco, California, Arch reports 2,013 monthly web visits. Its AI platform integrates with ServiceTitan, focusing on data-driven marketing strategies to enhance HVAC system sales and sustainability.

Key Performance Indicators: Team size: 14 employees • Capital raised: $6.2M • Monthly web visits: 2,013 • Company maturity: 3 years • Growth stage: Pre-seed/Seed • Investor network size: 5 investors

Mint Home (🌟 Specter Rank #54697)
Mint Home provides AI-powered solutions for HVAC system purchasing and installation. With $2.8M raised, the company is in the Pre-seed/Seed stage, targeting homeowners for streamlined, cost-effective HVAC services. Led by Stacy Abraham, Founder & CEO, the team consists of 10 employees. Founded in 2024 and HQ in Phoenix, Arizona, Mint Home reports 9,315 monthly web visits. Its AI-driven platform offers instant quotes and recommendations, enhancing customer satisfaction and operational transparency.

Key Performance Indicators: Team size: 10 employees • Capital raised: $2.8M • Monthly web visits: 9,315 • Company maturity: 1 year • Growth stage: Pre-seed/Seed

42watt (🌟 Specter Rank #68037)
42watt focuses on energy-efficient building renovations. Early Stage, targeting homeowners for comprehensive energy solutions that promise significant cost savings. Co-founded by Ferdinand Zemella, Marcus Dietmann, and Jorg Uberla, the team comprises 58 employees. Investors include BONVENTURE, Contrarian Ventures, and Eneco Ventures, providing robust validation and potential for scaling. Based in Munich, Germany, 42watt reports 19,310 monthly web visits.

Key Performance Indicators: Team size: 58 employees • Funding: Not disclosed • Monthly web visits: 19,310 • Company maturity: 4 years • Growth stage: Early Stage • Investor network size: 10 investors

OEMs

Bootbox Labs (🌟 Specter Rank #22806)
Bootbox Labs has raised $65,000, operating at the Pre-seed/Seed stage and targeting customers seeking innovative HVAC solutions with its compact, climate-neutral heat pump. Bootbox's competitive edge lies in its thermoelectric cooler technology, which eliminates compressors and refrigerants, offering a quieter, smaller, and more efficient alternative to traditional units. Led by Nancy Sun, Co-Founder and CTO, who brings executive-level experience in engineering. Founded in 2021 and supported by MassVentures. Headquartered in Boxford, Massachusetts, with a web presence attracting 203 monthly visits. Bootbox Labs operates on a pre-order business model, focusing on product development and customer engagement.

Key Performance Indicators: Team size: 2 employees • Capital raised: $65,000 • Monthly web visits: 203 • Company maturity: 4 years • Growth stage: Pre-seed/Seed • Investor network size: 1

Cooll (🌟 Specter Rank #50738)
Cooll focuses on thermally driven heat pump technology. $7.47M total funding raised backed by investors including Energiefonds Overijssel, StartGreen Capital, House of Open Innovation among others, targeting HVAC professionals and capital investors for commercialization and scaling. Based in Enschede, Netherlands, Cooll's web traffic is currently minimal, suggesting a need for enhanced digital engagement.

Key Performance Indicators: Team size: 26 employees • Funding: Not disclosed • Monthly web visits: 0 • Company maturity: 16 years • Growth stage: Pre-seed/Seed • Investor network size: 1

Anzen (🌟 Specter Rank #67069)
Anzen provides solid-state thermoelectric technology for home climate control. Having raised $152,264 by Carbon13, the company is in the Pre-seed/Seed stage, focusing on energy-efficient solutions for UK homes. The team includes Preethi Jayakumar, CTO, and Dhruv Shah, CEO, both bringing executive-level expertise. Anzen's network strength is growing, with a focus on leadership and strategic hiring. HQ in London, Anzen's web presence attracts 115 monthly visits. The company is focused on pilot projects and partnerships to drive its mission of decarbonizing UK homes.

Key Performance Indicators: Team size: 10 employees • Capital raised: $152,264 • Monthly web visits: 115 • Company maturity: 2 years • Growth stage: Pre-seed/Seed • Investor network size: 1

Quilt (🌟 Specter Rank #4601.0)
Quilt has raised $42,000,000 at the Early Stage, offering an advanced, all-electric home climate solution, emphasizing sustainability and user control. The team includes Paul Roland Lambert, CEO, Bill Kee, Co-Founder, and Matthew Knoll, CTO, all with executive-level expertise. Supported by a diverse investor network including Lowercarbon Capital and others like Energy Impact Partners and Galvanize Climate Solutions. Based in Redwood City, California, Quilt's web presence is significant, with 11,177 monthly visits. The company is actively seeking HVAC industry partners to expand its market reach.

Key Performance Indicators: Team size: 69 employees • Capital raised: $42,000,000 • Monthly web visits: 11,177 • Company maturity: 3 years • Growth stage: Early Stage • Investor network size: 14

Utilities

Ostrom (🌟 Specter Rank #4747)
Ostrom is focusing on the green energy transition. With $45.7M raised, the company is in its Early Stage, targeting consumers seeking accessible renewable energy solutions. Ostrom's competitive advantage lies in its green energy management platform that simplifies electricity consumption tracking and reduction. Led by Matthias Martensen and Karl Villanueva, both serving as Co-Founders with 46 employees. Backed by prominent investors such as Union Square Ventures, SE Ventures, and Global Founders Capital. HQ in Berlin, Ostrom boasts 99,326 monthly web visits, reflecting significant market interest. The company operates a business model centered on renewable energy accessibility, leveraging a cutting-edge tech stack to enhance consumer engagement.

Key Performance Indicators: Team size: 46 employees • Capital raised: $45.7M • Monthly web visits: 99,326 • Company maturity: 5 years • Growth stage: Early Stage • Investor network size: 12

Fuse Energy (🌟 Specter Rank #19655)
Fuse Energy, a UK-based electricity supplier, has raised $100.7M, marking its Growth Stage. Targets environmentally conscious consumers with its commitment to reinvesting profits into renewable projects, positioning itself as a leader in the renewable energy sector. Led by Alan Chang (Founder & CEO) and Charles Orr (Founder & COO), Fuse Energy's leadership is reinforced by a team of 141 employees and a strong LinkedIn presence, with a focus on operational excellence. Supported by investors like Accel, Balderton Capital, and Lowercarbon Capital, showcasing a strong validation framework and potential for future funding rounds. Operating from London, Fuse Energy records 133,660 monthly web visits, highlighting its market traction. The company differentiates itself by producing 18.6 GWh of electricity through solar and wind sites, reinforcing its commitment to sustainability.

Key Performance Indicators: Team size: 141 employees • Capital raised: $100.7M • Monthly web visits: 133,660 • Company maturity: 3 years • Growth stage: Growth Stage • Investor network size: 15

Strategic Outlook

• Platforms & SaaS Integration. Poised to revolutionize the residential heat pump market by enhancing system interoperability and user experience. Companies in this category are focusing on developing cloud-based platforms that facilitate real-time monitoring and predictive maintenance, thereby improving the overall efficiency and lifespan of heat pump systems. The emphasis on data analytics and machine learning is expected to optimize energy consumption patterns, aligning with broader energy transition goals.
• E2E OEM Advancements. Increasingly adopting modular design approaches to streamline production and reduce costs. This trend is driven by the need for scalable solutions that can be easily customized to meet diverse residential requirements. The focus on enhancing Coefficient of Performance (COP) ratings is critical, as it directly impacts energy efficiency and operational costs. Companies are also exploring hybrid systems that integrate heat pumps with solar panels to maximize renewable energy usage.
• Installers & Channels Expansion. Investing in training programs to ensure that installers are equipped with the latest technical knowledge and installation best practices. This is crucial for optimizing system performance and ensuring customer satisfaction. Additionally, partnerships with local utilities are being leveraged to offer bundled energy solutions that include heat pumps as part of broader energy efficiency programs.
• OEMs Focus on Energy Efficiency. Prioritizing the development of high-efficiency heat pump models that meet stringent energy standards. The push towards decarbonization is driving innovation in refrigerant technologies and compressor designs to minimize environmental impact. OEMs are also exploring the potential of geothermal systems, which offer superior energy efficiency by leveraging stable underground temperatures.
• Utilities as Catalysts for Adoption. Promoting residential heat pump adoption through incentive programs and rebates. By collaborating with OEMs and installers, utilities are facilitating the transition to cleaner energy sources. The integration of heat pumps into smart grid initiatives is also being explored to enhance demand response capabilities and improve grid stability.
• Financing Innovations. Innovative financing models are being developed to lower the upfront costs of heat pump installations, making them more accessible to homeowners. Companies are offering flexible payment plans and energy-as-a-service models that align with consumer cash flow. This approach not only accelerates adoption but also supports long-term sustainability goals by reducing reliance on fossil fuels.
• Lead Generators and Market Penetration. Lead generation companies are leveraging digital marketing and data analytics to identify and target potential customers more effectively. By focusing on consumer education and awareness, these companies are driving market penetration and expanding the customer base for residential heat pumps. The use of AI-driven insights is enhancing customer engagement and conversion rates.

What's Next: The residential heat pump landscape is on the cusp of significant transformation as technological advancements and policy shifts converge. The focus on decarbonization and energy efficiency will continue to drive innovation, with an increasing emphasis on integrating renewable energy sources. As smart home technologies evolve, the seamless integration of heat pumps into connected home ecosystems will become a key differentiator. The industry's ability to adapt to changing consumer preferences and regulatory environments will determine its success in the coming years.

Key Takeaways

• Platforms & SaaS: From survey-to-design and quote automation to asset orchestration—software is compressing time-to-install and standardizing quality for installers and ESCOs. • autarc • Boldr • enshift • Reonic
• E2E OEM (Full-Stack Providers): Vertically integrated players pair hardware, financing, and long-term service contracts to de-risk adoption and own the customer relationship. • Aira • Rendesco • Adia Thermal
• Financing Rails: Embedded lenders and marketplaces are unlocking capex with point-of-sale loans, green mortgages, and installer-first underwriting to accelerate heat-pump uptake. • Prets • GO PONTIO • Atmos Financial • Bullfinch
• Installers & Channels: Tech-enabled installers are productizing the retrofit—digital audits, fixed-price bundles, and managed logistics—to turn complex projects into consumer-grade experiences. • Electric Air • nuuEnergy • Helio Home • Daylight
• OEMs (Hardware & Thermoelectrics): New form factors and refrigerant-light approaches—from solid-state to thermally driven systems—aim for quieter, smaller, easier-to-install units. • Quilt • Cooll • Bootbox Labs • Anzen
• Lead Generation & Demand Capture: AI-native funnels and trade-ops platforms feed qualified demand to installers, lowering CAC and smoothing seasonal volatility. • UpSmith • Arch • Mint Home • 42watt
• Utilities & Retail Energy: Next-gen suppliers bundle dynamic tariffs, VPP enrollment, and behind-the-meter assets to turn homes into flexible grid resources. • Ostrom • Fuse Energy

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