We are not selling components. We are taking responsibility for the whole energy system – and for what it delivers.
There is a version of this business that sells you a wind turbine, or a battery, or an LED retrofit, hands you a warranty document, and moves on. You will find no shortage of companies happy to do that.
HNordic Hotels is built differently, and that difference matters for a hotel owner more than it matters for most buyers.
A hotel is not a warehouse. It is not an office block. It runs 24 hours a day, every day of the year, with guests in it. When the heating fails in January, you do not close for a week while you wait for a part. When the EV charging infrastructure goes down during peak occupancy, the guest who cannot charge their car is not someone you will see again. The energy system in a hotel is not background infrastructure – it is part of the product.
That is why we take a long-term position in every system we install. HNordic audits the property, designs the right system for that specific building, installs it as an integrated whole, and then stays. The maintenance contract is not a bolt-on. It is where the relationship starts earning its keep. We monitor the system remotely, respond to faults before they become failures, and measure our performance against the projections we made at audit. If the numbers diverge, we find out why and fix it. That is what accountability looks like in practice.
We are also not technology agnostic in the way that sounds appealing but means nothing. We have a view about what works in hotel properties – formed from engineering experience, from operating real assets, and from watching what breaks and what holds. When we recommend a system, it is because we have thought about what it will do in your building, not because it is what we happen to sell.
The people behind this are Rune Holm and Thomas Emerald White. Their backgrounds are not typical for an energy systems business, and that is not accidental. The skills that matter here – reading a complex system, identifying where value is being lost, fixing the structure rather than the symptom – were not learned in the energy industry. They were learned in places where the consequences of getting it wrong were more immediate.
The people
Rune Holm spent his career running complex systems in environments where the option of stopping and calling for help did not exist. A ship's engine room has no external IT support desk, no facilities management company, no next-day delivery for parts. Every component has to work, because if it doesn't, the ship stops. That trains a specific kind of thinking: not what went wrong, but what needs to happen next, and in what order.
He carried that thinking into port infrastructure – leading a €5.6 million harbour expansion to within 1.3 per cent of budget, on a working port that could not pause during construction – and then into commercial property, where he took a €33 million portfolio from 55 per cent occupancy to 99. In every case, the same method: understand the whole system before touching any part of it.
A hotel's energy system is a complex system. It has interdependencies – between generation, storage, heating, lighting, and demand – that mean optimising one part without understanding the others produces worse outcomes than doing nothing. Rune reads those interdependencies the way he read a ship's engine room. That is not a credential. It is a capability.
Thomas Emerald White spent twenty-five years finding the hidden flaw in large systems at Deutsche Bank, Dow Jones, and Forcepoint – the broken component that everyone else had stopped noticing because they had been looking at the same system for too long. He then spent several years working specifically on the gap between what a business is worth to the person running it and what it is worth to the person buying it. The gap is almost always structural. Fix the structure and the value appears.
He recognised the same structural problem in commercial property the moment he saw it: a building drawing its energy from a grid designed for a different world is not a neutral asset. It is a liability accumulating quietly. What HNordic installs changes the economics of the asset permanently, not cosmetically. Thomas built the financial architecture around that insight – the structure that lets energy investors and property investors operate in the same deal without carrying each other's risk.
For a hotel owner, what this means in practice is that the people accountable for your energy system have both built and operated complex assets, have lived with the consequences of decisions made at the design stage, and have a specific financial interest in the system performing as projected.
Rune Holm – Founder, HNordic
The engineering background that matters for a hotel energy system is not an energy industry background. It is a background in systems that cannot afford to fail. Rune has that background, in depth.
Thomas Emerald White – Partner, HNordic
The financial architecture behind HNordic Hotels was designed to align incentives, not obscure them. If the system underperforms, HNordic feels it. That is deliberate.
The structure
HNordic Hotels is the hotel-sector operating arm of H Nordic Exergy Limited, our group holding company incorporated in Ireland (No. 816416). For each country we operate in, we establish a local subsidiary – the business is compliant by design, not by retrofit.
Every installation is executed through a dedicated SPV, ring-fenced from the rest of the group. Your asset and your energy system sit in a clean structure with clear governance. That matters when you are financing a property, planning a sale, or bringing in a co-investor.
The first step
Every engagement starts the same way: with the property. An energy audit tells you what your specific building needs, in what sequence, at what cost – before any capital is committed. Fees from €15,000, credited to your maintenance contract if the project proceeds.
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