My first response was no but thanks for Bellerophon for the link about heat, there is one way. aquatic plants produce oxygen bubble, these can be trapped. Pure oxygen plus a container plus the right fuel can make an explosive. Ignition is tricky but not impossible, low output batteries could be produced as could chemical ignition.
This oxygen could also be used for to produce heat for other things, like metallurgy and certain ceramics.
However keep in mind, mixing chemical in an entirely aquaus setting would be very dangerous, chemistry research in general would be more difficult underwater where isolation is nearly impossible and you are basically forced to breath anything you are working with.
This will severely limit chemical research.