Our journey


Adven’s history as an energy company dates to a time where oil was the solution to enable major progress in our societies. However, with the awareness of the damage that burning oil to produce energy does, combined with the fact that we have a growing world population and thus a growing energy need in the future, our mission enables us yet again being part of the solution, now to the climate change.

Adven’s journey to our mission is peculiar: back in the 1980’s the Finnish oil company Neste, from which Adven originates, invented a way to secure heavy fuel oil sales through long term contracts. The company was effortlessly maximizing the use of heavy fuel oil in its district heating networks. During the last decades, the history has entirely turned on its heels.

First, we were a part of the solution by scaling our energy production and enabling the rapid progress in our society made during the past century. Then it became apparent that we had become part of the problem because of the harmful emissions from burning fossil fuels. Today, we aim to be part of the solution to climate change by offering sustainable, renewable energy and circular water solutions for industries and real estates.

Our Energy as a Service® model has served us well in the past, and with the long-term relationships we hold, we now have a huge opportunity to develop the partnerships with our customers even further by enabling them to reduce their climate and environmental impact through changes in their energy and water usage.

Along with the transition from heavy fuel oil to sustainable solutions, Adven has rapidly grown as a company both organically and also through acquisitions. We will continue to grow and become the best in the world in providing energy and water solutions for real estates and industries.

Adven is merging with the energy company Värmevärden to become the new leading group in its field in the Nordics and the Baltics. The integration of Adven and Värmevärden started in November 2020 and Anders Ericsson was appointed CEO for the combined Adven/Värmevärden Group. Customer excellence and future growth lead the way when the combined group forms.

Almost 40 years of experience in energy business

1983 Entered the heating business as Neste Lämpö Oy in Finland.

1998 Fortum founded. Company named as Fortum Lämpö Oy, and later incorporated as Fortum Energia-ratkaisut Oy.

2012 Adven born when Fortum sells industrial energy companies in Finland and Estonia to EQT.

2015 Expansion to Sweden by acquiring district heating and geoenergy companies.

2016 Adven acquired by a consortium of two infrafunds AMP Capital and Infracapital.

2017 Adven acquires district heating and distributed energy services providing E.ON Värme Lokala Energilösningar AB in Sweden.

2018 Expansion to Latvia by acquiring two district heating companies in Valmiera and Cesis.

2020 Our common journey with Swedish district heating company Värmevärden AB starts.