- Business
- Climeon AB (publ) (CLIME-B.ST) develops and sells proprietary HeatPower systems that utilize Organic Rankine Cycle (ORC) technology to convert low-temperature waste heat sources into clean, carbon-free electricity; core offerings include the HeatPower 300 model for maritime, industrial, energy, and geothermal applications, along with related integration services, Climeon Live remote monitoring platform, installation assistance, consultancy, spare parts, and training. The company targets energy-intensive sectors such as shipping (new-builds and retrofits on vessels from owners like Virgin Voyages, Havila Voyages, Viking Line, and NovaAlgoma), steel manufacturing (e.g., SSAB), power generation, and geothermal projects (e.g., Baseload Power Iceland sites), serving customers in Sweden, Europe, North America, Asia (notably China, Japan, Taiwan), and Iceland. Founded in 2011 and headquartered in Kista, Stockholm, Sweden, Climeon operates globally with subsidiaries in select markets and focuses on non-weather-dependent green energy to enhance efficiency, cut fuel use, lower emissions, and support net-zero transitions.
In recent developments, Climeon completed a directed new share issue of 8,489,886 class B shares in October 2025, raising approximately SEK 29 million to fund HeatPower 300 commercialization and working capital for orders; earlier in May 2025, it executed another directed issue of 6,960,584 class B shares for SEK 30 million. The company secured a HeatPower order from a leading Chinese shipyard for a newbuild container ship in September 2025, a repeat order from NovaAlgoma Cement Carriers in June 2025, and completed commissioning of HeatPower 300 systems on existing container vessels and UK genset projects in early 2025. Additional 2025 milestones include a January stock consolidation, showcasing HeatPower at Marintec China 2025, organizational changes in 2024, and partnerships like with GRANDBOW TECHNOLOGY for China expansion; HeatPower 300, launched in 2022, continues to drive orders including deliveries to HD Hyundai Heavy Industries.