Climeon

Climeon AB develops renewable energy technology that converts waste heat and low-temperature geothermal heat into electricity. The company's Heat Power system uses heat exchangers to transfer heat from various sources to an internal fluid with a lower boiling point. This fluid vaporizes and expands over a turbine to generate electricity. The system operates through a closed-loop process where the fluid is condensed and recirculated. Each unit is approximately eight cubic meters in size and can provide about 150 kW of power. In 2022, the company introduced HeatPower 300 Marine, a waste heat recovery solution specifically designed for the maritime industry that can produce up to 1MW of clean electricity and reduce vessel fuel consumption by up to 5%. The marine system offers a return on investment period of 2-5 years and can reduce carbon emissions by up to 62,500 metric tonnes over a ship's 25-year lifetime. The company's annual sales decreased from SEK 143 million in 2019 to SEK 15.93 million in 2023.

Key customers and partnerships

Climeon's HeatPower technology has been deployed in various industries including steel factories and the maritime sector. The company's marine systems have been installed on vessels operated by Maersk, Virgin Voyages, and Viking Line. The company has worked with Baseload Capital, which finances and develops projects for Climeon by owning and operating units while charging customers through long-term contracts.