Fu-Gen
- Company typePrivate
- Founded2017
- HeadquartersZürich, Switzerland
- Headcount11–50
- GTM typeB2B
- OfferingServices
Fu-Gen firmographics
Firmographics- Name
- Fu-Gen
- Legal name
- Fu-Gen AG
- Website
- https://fu-gen.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Fu-Gen industry classification
Industry- Product category
- Renewable Energy Generation
- NAICS
- Wind Electric Power Generation (221115), Solar Electric Power Generation (221114)
- SIC
- Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Commercial Structuring & Offtake (PPAs, CfDs, Corporate PPAs, Merchant Strategy) (EUAMAAAE)
- akta.pro secondary industries
- Project Finance & Capital Structuring (Debt/Tax Equity/Project Bonds) (EUAMAAAD), Development Management & Owner’s Engineering (Design Basis, Yield, Technical Due Diligence) (EUAMAAAG), Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)
Keywords
Where Fu-Gen is headquartered
LocationHeadquarters
- HQ city
- Zürich
- HQ country
- Switzerland
- HQ region
- Europe
Offices4 records
Markets served
Fu-Gen business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales
Revenue model
- Electricity generation and sales: Fu-Gen develops, owns and operates renewable energy assets that generate electricity sold to the grid. Revenue comes from power purchase agreements and merchant electricity sales. Strategy is built around long-term asset ownership.
- Project development and divestment: Developing renewable energy projects (greenfield and ready-to-build) and selling them to strategic buyers, institutional investors, and utilities. Examples include BESS projects sold to Nala Renewables, Icecreek Energy, and Monsson Energy.
- VÄTERGY green hydrogen subsidiary: Subsidiary developing and investing in green hydrogen production and logistics projects for industrial and mobility applications. Business goal is to develop projects requiring EUR 1 billion total CAPEX within 5 years.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Fu-Gen product offering
Product offeringCore offering
Fu-Gen is an Independent Power Producer (IPP) that develops, owns and operates renewable energy assets in the Nordics and select European markets. Its core offering is a unified portfolio of onshore wind, utility-scale solar PV and Battery Energy Storage System (BESS) projects, developed either greenfield or acquired at ready-to-build or operational stages, with a wholly-owned subsidiary VÄTERGY extending into green hydrogen production and logistics for industrial and mobility use cases.
Product overview
Fu-Gen is an Independent Power Producer (IPP) offering a unified portfolio of renewable energy development, ownership, and operation services. Its core product suite comprises three complementary technology lines — Onshore Wind, Solar Power, and Energy Storage (BESS) — which are developed either greenfield or acquired at ready-to-build or operational stages. A fourth offering, the green hydrogen subsidiary VÄTERGY, extends the portfolio into hydrogen-based e-fuels. Together, these products enable Fu-Gen to address intermittency challenges, provide grid stability, and serve industrial decarbonization across the Nordics and select European markets.
Differentiator
Problem solved
Functional benefit
Products and services
- Onshore Wind Greenfield development and acquisition of onshore wind farms for cost-efficient, proven renewable power production across the Nordic region, supplying electricity under PPAs or to the grid and powering thousands of households (e.g., Riberget 70 MW, Tormoseröd 72.6 MW, Fjällboheden).
- Solar Power Utility-scale solar PV project development in the Nordics, leveraging improving cell technology to deliver lower-cost renewable electricity as part of Fu-Gen's diversified portfolio.
- Energy Storage (BESS) Battery Energy Storage System (BESS) projects that stabilize the energy system by mitigating intermittency of wind and solar production, with more than 160 MW of BESS projects divested to partners such as Nala Renewables, Icecreek Energy and Monsson Energy across Finland and Sweden.
- VÄTERGY Green Hydrogen Wholly-owned subsidiary developing and investing in green hydrogen production and logistics projects for industrial processes that cannot be electrified directly and for the mobility sector (renewable jet fuel/e-kerosene/e-SAF, renewable diesel and gasoline alternatives).
Quantifiable outcome
- 860 GWh annual renewable energy production from operational and construction-phase wind farms
- +3 more outcomes
Companies that use Fu-Gen
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles3 records
Fu-Gen technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Fu-Gen partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- Icecreek EnergycoreIcecreek Energy, a European asset management platform headquartered in Germany, acquired 15MW portfolio of three BESS projects in Finland (Ulvila, Sastamala, Koskenkorva) from Fu-Gen. Projects are part of Icecreek Energy II portfolio dedicated to BESS assets in Finland.
- Monsson EnergycoreMonsson, a leading European renewable energy and advanced energy storage solutions company, acquired 20 MWh BESS project in Härryda Municipality, Sweden from Fu-Gen. Construction began autumn 2025. Monsson provides expertise in BESS and education initiatives for local industry.
- Nala RenewablescoreNala Renewables (joint venture between Trafigura and IFM Investors) has acquired multiple BESS projects from Fu-Gen including 50MW Kauhava project (Jan 2025) and 125MW Vuolijoki project (Feb 2026). Framework agreement signed Oct 2025 for portfolio of BESS projects across Finland. Trafigura provides battery optimization expertise.
- Nordic ElectrofuelminorFu-Gen acquired 100% of Nordic Wind AS (subsidiary of Nordic Electrofuel) for Norwegian wind development. Nordic Wind has onshore and offshore wind development prospects. Acquisition includes future commercial options for Nordic Electrofuel and co-ownership options in wind farms. Partnership continues to pursue development through operational stage.
- OX2coreOX2 sold 70MW Riberget wind farm to Fu-Gen and continues as partner for technical and commercial management under 15-year agreement. OX2 responsible for construction (started Q4 2022) and ongoing operations optimization. OX2 also developed 50MW Kauhava BESS facility acquired by Nala.
- AlpiqcoreCo-ownership partnership for Tormoseröd wind farm (72.6 MW) in Sweden. Fu-Gen acquired 70% of Tormoseröd Vindpark AB from Alpiq. Alpiq responsible for project management during construction and technical/commercial asset management during operation. Partnership operating wind farm for 30 years.
Scale indicators6 records
Recent moves10 records
Expansion highlights6 records
Fu-Gen competitors and assessment
Company assessmentDirect peers
- OX2: European wind and BESS developer active across the Nordics. Directly comparable to Fu-Gen as both develop, divest and operate renewable assets in Sweden and Finland, and OX2 has sold operational wind assets (e.g., Riberget, Havsnäs) to Fu-Gen.
- Cloudberry Clean Energy: Norwegian-listed renewables developer/owner-operator with wind, solar and BESS projects in the Nordics. Closely matches Fu-Gen's IPP + developer model, cross-technology portfolio and Nordic geographic focus.
- Eolus Vind: Swedish wind power developer with a long Nordic track record of greenfield development and asset sales. Highly comparable development-plus-divestment business model in the same onshore wind sub-segment.
- Arise: Swedish onshore wind developer and owner-operator. Comparable to Fu-Gen as a pure-play Nordic wind IPP with a similar mix of greenfield development, asset ownership and project sales.
- Aneo: Norwegian renewable energy IPP with wind, solar and grid services. Comparable scale and Nordic geographic footprint, with a similar mix of asset ownership and energy supply activities.
- Nala Renewables: JV between Trafigura and IFM Investors focused on Nordic/Baltic BESS and renewables. Direct counterparty for Fu-Gen in multiple BESS deals; comparable IPP strategy targeting the same grid-flexibility opportunity.
- European Energy: Danish renewables developer with wind, solar and green hydrogen/PtX projects across Europe. Comparable cross-technology developer-and-owner model, and a relevant benchmark for VÄTERGY's hydrogen ambitions.
Broad incumbents
- Vattenfall: Swedish state-owned utility with a large Nordic wind, solar and BESS portfolio. Overlaps with Fu-Gen in Nordic renewables development and offtake, but operates as a full integrated utility with generation, distribution and retail.
- Statkraft: Norwegian state-owned renewable IPP and Europe's largest generator of renewable energy. Competes with Fu-Gen for Nordic wind/solar/BESS sites and offtake contracts, but at vastly larger scale and as a state-backed balance sheet.
Emerging players
- Soltech Energy: Swedish solar-focused developer and installer. Comparable as a Nordic renewables developer with utility-scale solar ambitions, though smaller and more installation-focused than Fu-Gen.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Fu-Gen social profiles
Digital presenceFu-Gen financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fu-Gen leadership team
Management profileNumber of profiles
Profiles13 records
Fu-Gen subsidiaries and ownership
Company hierarchySubsidiaries2 records
Fu-Gen funding detail
Funding detailFunding overview
Funding rounds1 record
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fu-Gen M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fu-Gen
What does Fu-Gen do?
Fu-Gen is an Independent Power Producer (IPP) that develops, owns and operates renewable energy assets in the Nordics and select European markets. Its core offering is a unified portfolio of onshore wind, utility-scale solar PV and Battery Energy Storage System (BESS) projects, developed either greenfield or acquired at ready-to-build or operational stages, with a wholly-owned subsidiary VÄTERGY extending into green hydrogen production and logistics for industrial and mobility use cases.
Is Fu-Gen a public or private company?
Fu-Gen is a private company. It is classified as venture growth investor backed and is currently operating.
When was Fu-Gen founded?
Fu-Gen was founded in 2017. It employs 11 to 50 people.
Where is Fu-Gen based?
Fu-Gen is headquartered in Zürich, Switzerland, in the Europe region.
How does Fu-Gen make money?
Three revenue lines are on record. Electricity generation and sales are the primary driver. The others are project development and divestment and VÄTERGY green hydrogen subsidiary.
Who are Fu-Gen's main competitors?
Direct peers on record are OX2, Cloudberry Clean Energy, Eolus Vind, Arise, Aneo, Nala Renewables and European Energy. Broad incumbents are Vattenfall and Statkraft. Soltech Energy is listed as an emerging player.
Does Fu-Gen have an API?
No public API is recorded for Fu-Gen.
What industry is Fu-Gen in?
Fu-Gen's product category is Renewable Energy Generation. Its primary akta.pro industry code is EUAMAAAE, Commercial Structuring & Offtake (PPAs, CfDs, Corporate PPAs, Merchant Strategy), with a secondary code of EUAMAAAD, Project Finance & Capital Structuring (Debt/Tax Equity/Project Bonds). Its NAICS code is 221115 and its SIC code is 4991.