Modvion

What Modvion does

Modvion AB, founded in 2016 and headquartered in Gothenburg, Sweden, designs, manufactures, and installs modular wind turbine towers constructed from Laminated Veneer Lumber (LVL) — an engineered wood product with higher specific strength than steel at the same weight. The company's patented modular tower architecture delivers tower sections via standard road transport without special permits, enabling hub heights above 150 metres (up to 219m in the certified 6.4MW V162 design) that are economically and logistically impractical with conventional steel or concrete. Modvion positions its product as carbon-negative, claiming the wood stores more CO2 than is emitted across production, transport, and installation, reducing the wind turbine's total emissions by approximately 25%.

The business model centers on project-based hardware sales of custom-engineered wooden towers to wind farm developers, utilities, and turbine OEMs. Pricing is quote-based and not publicly disclosed, with long enterprise sales cycles. Revenue is supplemented by non-dilutive public funding — most notably the €39.1 million EU Innovation Fund grant (April 2026) supporting a planned serial production facility in Trollhättan, Sweden, targeting ~1,500 towers over 10 years at full capacity by 2031. The company sells through direct enterprise field sales supplemented by strategic channel partners including Vestas Ventures (investor and integration partner), RES, RWE, Vattenfall, Enel Green Power, and a supply ecosystem anchored by Stora Enso, Metsä Wood, and CMPC.

As of the latest data, Modvion has delivered one commercial tower ('Wind of Change', 105m hub height, Vestas V90-2.0MW, operational 15,000+ hours) to Varberg Energi in Skara, Sweden, has third-party certified (TÜV SÜD) a 6.4MW design for the Vestas V162 platform, and operates from a pilot factory in Gothenburg while building out the higher-volume Trollhättan site. The company employs 11-50 people, is privately held, and is backed by Vestas Ventures, the European Commission's EIC Fund, CMPC Ventures, Almi Invest Greentech, Course Corrected VC, and Symbia VC, with Maria-Lina Hedlund as CEO since May 2025.

Name

Modvion

Legal name

Modvion AB

Website

https://modvion.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Modvion designs, manufactures, and installs modular wind turbine towers built from engineered wood (LVL), enabling taller, carbon-negative turbines transportable on standard trucks. It serves European wind farm developers, utilities, and turbine OEMs, anchored by partnerships with Vestas, RWE, RES, Vattenfall, and Enel Green Power.

Ownership category

akta.pro rank

Product category

Wind Turbine Towers

NAICS

Engine, Turbine, and Power Transmission Equipment Manufacturing (3336), Turbine and Turbine Generator Set Units Manufacturing (333611)

SIC

Millwood, Veneer, Plywood, & Structural Wood Members (2430), Prefabricated Wood Bldgs & Components (2452)

akta.pro industry

PRIMARYEUAMACAD

Wind Blades, Towers & Foundations Manufacturing

Energy, Utilities & Environment/Renewable Energy (Solar, Wind, Hydro & Geothermal)/Wind Energy (Onshore & Offshore)

SECONDARYEUAMAHAE

Wind Blades, Towers & Foundations Manufacturing

Energy, Utilities & Environment/Renewable Energy (Solar, Wind, Hydro & Geothermal)/Renewable Equipment & Component Manufacturing (Modules, Turbines, Inverters, Towers, Blades)

Keywords

• Wooden wind turbine towers
• Modular tower engineering
• Laminated veneer lumber structures
• Carbon-negative wind infrastructure
• Renewable energy manufacturing

Headquarters

HQ city

Göteborg

HQ country

Sweden

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Infrastructure, Personnel, Marketing or Sales

Revenue model

1. Wind Turbine Tower Sales: Modvion sells modular wooden wind turbine towers to wind energy developers and utilities. The towers are custom-designed for specific turbine models and sites. Revenue is project-based with long sales cycles.
2. EU Innovation Fund Grant: Non-dilutive funding of up to €39.1 million from EU Innovation Fund to establish series production of wooden wind turbine towers. The grant supports scaling manufacturing capacity in Trollhättan, Sweden.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

Modvion designs, manufactures, and installs modular wind turbine towers constructed from Laminated Veneer Lumber (LVL), a structural engineered wood product. The patented modular architecture allows towers to be transported on standard trucks and assembled on-site, enabling hub heights of 200+ meters while reducing the carbon footprint of wind turbine installations by approximately 25% versus conventional steel towers.

Product overview

Modvion offers a portfolio of modular wooden wind turbine towers made from laminated veneer lumber (LVL), an engineered wood product stronger than steel at the same weight. The core product line includes commercial towers (Wind of Change, 103m hub height) and next-generation designs for large turbines (Raise Me Up, supporting 6.4MW Vestas platforms). The company is establishing serial production capabilities through its Higher Ground facility in Trollhättan, Sweden. All towers feature a patented modular design enabling transport on standard roads and taller structures (200m+ hub heights) at reduced cost and carbon emissions.

Differentiator

Problem solved

Functional benefit

Products and services

• Modular Wooden Wind Turbine Towers Patented modular wind turbine towers built from laminated veneer lumber (LVL), engineered wood stronger than steel at the same weight. Delivered in modules for transport on standard trucks without special permits, enabling hub heights of 200+ metres and reducing wind turbine carbon emissions by approximately 25% versus steel towers. Sold to wind farm developers, utilities, and turbine OEMs.
• Wind of Change Commercial Wooden Tower Modvion's first commercial wooden wind turbine tower, the world's tallest wooden wind turbine tower at the time of inauguration. A 103-metre hub height modular LVL tower paired with a Vestas V90-2.0MW turbine, sold to Varberg Energi and operating in Skara, Sweden.
• Raise Me Up - 6MW Wooden Wind Turbine Tower Wooden wind turbine tower designed for the largest onshore turbines, specifically the Vestas V162 - 6.4MW Enventus platform. Third-party certified by TÜV SÜD against IECRE OD-501 standards, with hub heights up to 219 metres and 35-year design lifetime.
• Higher Ground - Serial Production Facility World's first serial production facility for wooden wind turbine towers, located in Trollhättan, Sweden. Expected to manufacture approximately 1,500 towers over a ten-year horizon, avoiding around 18 million tonnes of CO2 equivalent and producing renewable energy for roughly 7.3 million EU households annually.
• VKV Björkö Prototype Tower Prototype 30-metre wooden wind turbine tower built in 2020 for Chalmers Electric Power Engineering, which demonstrated the modular LVL tower concept and directly led to Vestas's strategic investment in Modvion.

Quantifiable outcome

• 90% reduction in carbon emissions compared to conventional steel towers
• +4 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core, major and strategic.

• CMPCcoreStrategic or Co-development Partner · 31 May 2024Major Chilean forestry company (one of world's largest) joined as strategic investor and partner. Recognized by Dow Jones Sustainability Index. Supports Modvion's global expansion with focus on sustainable forestry materials.
• RWE RenewablesmajorStrategic or Co-development Partner · 30 March 2023Letter of Intent signed to evaluate and use Modvion wooden towers in future RWE onshore wind farms in Sweden. RWE aims to reduce carbon footprint while increasing renewable capacity.
• Metsä WoodstrategicTechnology or Integration · 1 December 2022Finnish wood product company supplies laminated veneer lumber (LVL/Kerto) for Modvion's wooden towers. Metsä Wood is a key supplier enabling tower production with high strength-to-weight ratio materials.
• RESmajorStrategic or Co-development Partner · 11 October 2022World's largest independent renewable energy company signed LOI for ~20 towers per year from 2026-2036 (~4 billion SEK total). RES will promote Modvion towers to turbine suppliers for use in RES wind farms.
• Stora EnsostrategicTechnology or Integration · 25 May 2022Partnership to establish wood as material of choice for wind turbine towers. Stora Enso contributes expertise in sustainable forestry and wood products. Collaboration demonstrates possibilities of wood in demanding constructions.
• VattenfallmajorStrategic or Co-development PartnerOngoing collaboration to include wooden towers within Vattenfall's onshore wind farm supply chain. Vattenfall investing heavily in wind power with 5GW planned production.
• Enel Green PowermajorStrategic or Co-development PartnerGlobal sustainable energy leader (present in 26 countries, 54+ GW capacity) has cooperation agreement with Modvion. Strategic partner for global expansion.
• TÜV SÜDstrategicTechnology or IntegrationIndependent certification body completed design evaluation for 6MW tower. Confirms design meets IECRE OD-501 international quality standards. Provides third-party verification of tower safety and performance.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Vestas: World's largest wind turbine manufacturer and an investor in Modvion. Vestas designs complete turbine systems (including its own steel/concrete towers), making it both a strategic partner and the dominant incumbent Modvion must displace or integrate with on tower supply.
• Siemens Gamesa (Siemens Energy): Major wind turbine OEM supplying the global onshore wind market alongside Vestas. Operates with conventional steel/concrete tower designs and represents the type of incumbent whose supply chains Modvion must penetrate via partnerships or displacement.
• GE Vernova: Global wind turbine OEM with onshore and offshore platforms. Comparable to Modvion only at the wind energy market level, but a potential OEM partner for wooden tower integration given its focus on next-generation sustainable wind technology.
• Nordex Group: European onshore wind turbine OEM competing with Vestas and Siemens Gamesa. Produces turbines with hybrid steel-concrete towers and represents another incumbent whose tower sourcing decisions Modvion can target.

Direct peers

• Enercon: German wind turbine manufacturer with a strong focus on direct-drive technology and tall onshore towers. Enercon produces its own towers and competes head-to-head with Modvion's target customer base for tall onshore turbine deployments in Europe.
• TimberTower GmbH: German developer of wooden wind turbine towers using laminated wood segments. The closest direct historical peer to Modvion in wooden tower technology, though the company has faced financial difficulties; serves as a cautionary comparable for the wooden tower commercialization journey.
• CS Wind (formerly CS Wind Offshore): One of the world's largest wind tower manufacturers, producing steel towers for onshore and offshore wind turbines. Represents the global incumbent tower supply chain that Modvion's wooden alternative must compete with on cost, durability, and bankability.

Emerging players

• Voodin Blades: German startup developing wooden wind turbine blades using similar LVL/engineered wood technology as Modvion. Comparable in spirit (wood as a decarbonization solution for wind components) though focused on blades rather than towers; reflects the broader emerging category Modvion helps define.

Others

• Stora Enso: Major Finnish-Swedish forest products company and Modvion's strategic partner. Supplies wood materials expertise and is among Europe's largest LVL/CLT producers; comparable as a key enabler and potential vertical integration partner rather than a direct competitor.
• Metsä Wood: Finnish engineered wood manufacturer (part of Metsä Group) supplying Kerto LVL to Modvion. A critical upstream supplier whose pricing and capacity decisions directly impact Modvion's cost structure and ability to scale production.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/modvion
• LinkedInlinkedin.com/company/modvion

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds10 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Modvion