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Swedish Stirling

Full company profile

uuid0002usv

Namestring
Swedish Stirling
Legal namestring
Swedish Stirling
Websiteurl
swedishstirling.com
Company typeenum
Private
Founded yearint
2008
Descriptiontext

Swedish Stirling AB is a Swedish clean-energy technology company that develops and commercializes the PWR BLOK, a Stirling-engine-based energy recycling system that captures waste heat from industrial processes — primarily metallurgical smelting — and converts it into usable electrical power. Founded in 2008 and headquartered in Frölunda, Sweden, the company is publicly listed in Stockholm (sto:STRLNG) and operates with a small team of 11–50 employees. Its principal commercial deployment is the 10MW Lion Smelter Project in South Africa, installed at a Glencore-Merafe joint-venture ferrochrome smelter under an 8-year debt facility from the Industrial Development Corporation of Africa.

The company's business model centers on selling or licensing PWR BLOK units to energy-intensive industrial operators, monetizing both the electricity generated and the associated carbon-offsetting value. Revenue mechanics are not publicly disclosed, and pricing is not transparent in available materials. Through the TEXEL platform, the underlying Stirling technology is being repositioned as distributed, off-grid power for AI data centers and flare-gas/methane/industrial-waste-heat sites in the 1–10 MW range, with stated manufacturing capacity of ~10,000 modular units per year (~200 MW) in Sweden and a planned U.S. production build-out. Capitalization to date has been a mix of strategic equity (SEK 37 million in preference shares from Glencore, Merafe Resources, and the af Jochnick family in August 2022) and a SEK 200 million rights issue in November 2022, alongside the IDC debt facility.

Short descriptiontext

Swedish Stirling develops and commercializes the PWR BLOK, a Stirling-engine system that converts waste heat from industrial smelting into electricity, serving energy-intensive metallurgical operators such as the Glencore-Merafe Lion Smelter in South Africa.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
11–50
akta.pro rankint
HeadquartersFrölunda, Sweden
HQ citystring
Frölunda
HQ countrystring
Sweden
HQ regionstring
Europe
Markets served

Serves global market

Keyword5 values
waste heat recovery, Stirling engine technology, industrial energy recycling, clean power generation, carbon offset solutions
Industry1 code
1Energy Recovery & Power Island Systems (Boilers, turbines, generators, condensers)
CodeEUAAAKALPrimaryYes
NAICS code1 code
  • Engine, Turbine, and Power Transmission Equipment Manufacturing33361
SIC code1 code
  • Engines & Turbines3510
Product category
Industrial Energy Equipment
Social media profiles1 record
Cost components6 values
Operations, Technology or R&D, Supply Chain, Personnel, Marketing or Sales, Infrastructure
GTM typeB2B
B2B
Offering typeHardware or Manufacturing
Hardware or Manufacturing
Brand1 record
1PWR BLOK
Description

Energy recycling technology developed by Swedish Stirling

inderes.dk
Core offering1 text field

Swedish Stirling develops and commercializes its proprietary PWR BLOK energy recycling technology, a Stirling engine-based system that captures waste heat from industrial processes—primarily metallurgical smelting operations—and converts it into usable electrical power. The company's first large-scale commercial deployment is a 10MW PWR BLOK installation at the Lion smelter (Glencore Merafe joint venture) in South Africa, enabling industrial customers to generate additional electricity while reducing CO2 emissions.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 value
  • 10MW capacity installation for industrial waste heat recycling
Product overview1 text field

Swedish Stirling offers the PWR BLOK technology as its primary product - an energy recycling system that converts waste industrial heat into electricity. The technology uses Stirling engines to capture and convert waste heat from industrial processes (such as metal smelting) into reliable electricity, enabling industrial facilities to reduce CO2 emissions while generating additional power. The company is scaling toward commercial deployment, particularly targeting large industrial operations in South Africa through projects like the Lion Smelter installation.

Product and service1 record
1PWR BLOK
CategoryIndustrial Energy Equipment
Scale indicator4 records

Each record includes

Type, Value, Description, Source

Recent move5 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight4 records

Each record includes

Type, Description

Peers10 records
1MAN Energy Solutions
TypeBroad incumbent
Description

MAN Energy Solutions produces large-scale engines, turbines, and power plant equipment, including waste-heat-recovery-capable systems, positioning it as a broad incumbent peer in industrial power.

2Rondo Energy
TypeEmerging player
Description

Rondo Energy delivers industrial heat decarbonization systems using thermal storage and recovered heat, competing for the same heavy-industry decarbonization budgets as PWR BLOK.

3Electrified Thermal Solutions (ETS)
TypeEmerging player
Description

ETS provides electrified industrial heat solutions targeting process heat decarbonization — overlapping with Swedish Stirling's waste-heat-to-power value proposition for heavy-industry customers.

4Cleanergy
TypeDirect peer
Description

Cleanergy is a Swedish Stirling engine developer focused on converting heat into power, making it a direct technology peer to Swedish Stirling's PWR BLOK platform.

5Caterpillar
TypeBroad incumbent
Description

Caterpillar's power-generation business supplies engines and generator sets used by heavy-industry customers for on-site and waste-heat-adjacent power, representing a broad incumbent alternative.

6Crusoe Energy
TypeEmerging player
Description

Crusoe converts stranded/flare gas energy into distributed compute — the closest analogue to Swedish Stirling/TEXEL's emerging off-grid AI compute positioning using waste heat.

7Cummins
TypeBroad incumbent
Description

Cummins manufactures engines and power-generation equipment sold into industrial and mining customers — a broad incumbent operating in adjacent power-equipment categories.

8Orcan Energy
TypeDirect peer
Description

Orcan Energy builds Organic Rankine Cycle (ORC) systems that convert industrial waste heat into electricity — the closest direct competitor to Swedish Stirling's PWR BLOK for the same heavy-industry customer base.

9Wärtsilä
TypeBroad incumbent
Description

Wärtsilä is a global incumbent in engine-based power plants and energy solutions, with overlapping capabilities in industrial power generation and engine/turbine manufacturing relevant to PWR BLOK.

10MicroPower Global
TypeDirect peer
Description

MicroPower Global develops Stirling-engine-based systems that convert waste heat into electricity, overlapping directly with Swedish Stirling's core technology and industrial use cases.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat3 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers1 record

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment1 record

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
Yes
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature1 record

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds3 records

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors4 records

Each record includes

Name, Type, Date of entry, Rounds participated, Website

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

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

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

Swedish Stirling

Industrial Energy Equipmentswedishstirling.com

Swedish Stirling develops and commercializes the PWR BLOK, a Stirling-engine system that converts waste heat from industrial smelting into electricity, serving energy-intensive metallurgical operators such as the Glencore-Merafe Lion Smelter in South Africa.

What Swedish Stirling does

Swedish Stirling AB is a Swedish clean-energy technology company that develops and commercializes the PWR BLOK, a Stirling-engine-based energy recycling system that captures waste heat from industrial processes — primarily metallurgical smelting — and converts it into usable electrical power. Founded in 2008 and headquartered in Frölunda, Sweden, the company is publicly listed in Stockholm (sto:STRLNG) and operates with a small team of 11–50 employees. Its principal commercial deployment is the 10MW Lion Smelter Project in South Africa, installed at a Glencore-Merafe joint-venture ferrochrome smelter under an 8-year debt facility from the Industrial Development Corporation of Africa.

The company's business model centers on selling or licensing PWR BLOK units to energy-intensive industrial operators, monetizing both the electricity generated and the associated carbon-offsetting value. Revenue mechanics are not publicly disclosed, and pricing is not transparent in available materials. Through the TEXEL platform, the underlying Stirling technology is being repositioned as distributed, off-grid power for AI data centers and flare-gas/methane/industrial-waste-heat sites in the 1–10 MW range, with stated manufacturing capacity of ~10,000 modular units per year (~200 MW) in Sweden and a planned U.S. production build-out. Capitalization to date has been a mix of strategic equity (SEK 37 million in preference shares from Glencore, Merafe Resources, and the af Jochnick family in August 2022) and a SEK 200 million rights issue in November 2022, alongside the IDC debt facility.

Swedish Stirling firmographics

Firmographics
Name
Swedish Stirling
Legal name
Swedish Stirling
Website
https://swedishstirling.com
Company type
Private
Founded year
2008
Operating status
Operating
Headcount range
11–50 employees
Short description
Swedish Stirling develops and commercializes the PWR BLOK, a Stirling-engine system that converts waste heat from industrial smelting into electricity, serving energy-intensive metallurgical operators such as the Glencore-Merafe Lion Smelter in South Africa.
Ownership category
akta.pro rank

Swedish Stirling industry classification

Industry
Product category
Industrial Energy Equipment
NAICS
Engine, Turbine, and Power Transmission Equipment Manufacturing (33361)
SIC
Engines & Turbines (3510)
akta.pro primary industry
Energy Recovery & Power Island Systems (Boilers, turbines, generators, condensers) (EUAAAKAL)

Keywords

  • Waste heat recovery
  • Stirling engine technology
  • Industrial energy recycling
  • Clean power generation
  • Carbon offset solutions

Where Swedish Stirling is headquartered

Location

Headquarters

HQ city
Frölunda
HQ country
Sweden
HQ region
Europe

Markets served

Swedish Stirling business model

Business model
GTM type
B2B
Offering type
Hardware or Manufacturing
Cost components
Operations, Technology or R&D, Supply Chain, Personnel, Marketing or Sales, Infrastructure

Swedish Stirling product offering

Product offering

Core offering

Swedish Stirling develops and commercializes its proprietary PWR BLOK energy recycling technology, a Stirling engine-based system that captures waste heat from industrial processes—primarily metallurgical smelting operations—and converts it into usable electrical power. The company's first large-scale commercial deployment is a 10MW PWR BLOK installation at the Lion smelter (Glencore Merafe joint venture) in South Africa, enabling industrial customers to generate additional electricity while reducing CO2 emissions.

Product overview

Swedish Stirling offers the PWR BLOK technology as its primary product - an energy recycling system that converts waste industrial heat into electricity. The technology uses Stirling engines to capture and convert waste heat from industrial processes (such as metal smelting) into reliable electricity, enabling industrial facilities to reduce CO2 emissions while generating additional power. The company is scaling toward commercial deployment, particularly targeting large industrial operations in South Africa through projects like the Lion Smelter installation.

Differentiator

Problem solved

Functional benefit

Brands

  • PWR BLOK: Energy recycling technology developed by Swedish Stirling

Products and services

  • PWR BLOK

Quantifiable outcome

  • 10MW capacity installation for industrial waste heat recycling

Companies that use Swedish Stirling

Customer profile

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Swedish Stirling technology and API

Technology

Technology focussed Yes

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature1 record

Swedish Stirling partnerships and signals

Strategic signal

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Swedish Stirling competitors and assessment

Company assessment

Broad incumbents

  • MAN Energy Solutions: MAN Energy Solutions produces large-scale engines, turbines, and power plant equipment, including waste-heat-recovery-capable systems, positioning it as a broad incumbent peer in industrial power.
  • Caterpillar: Caterpillar's power-generation business supplies engines and generator sets used by heavy-industry customers for on-site and waste-heat-adjacent power, representing a broad incumbent alternative.
  • Cummins: Cummins manufactures engines and power-generation equipment sold into industrial and mining customers — a broad incumbent operating in adjacent power-equipment categories.
  • Wärtsilä: Wärtsilä is a global incumbent in engine-based power plants and energy solutions, with overlapping capabilities in industrial power generation and engine/turbine manufacturing relevant to PWR BLOK.

Emerging players

  • Rondo Energy: Rondo Energy delivers industrial heat decarbonization systems using thermal storage and recovered heat, competing for the same heavy-industry decarbonization budgets as PWR BLOK.
  • Electrified Thermal Solutions (ETS): ETS provides electrified industrial heat solutions targeting process heat decarbonization — overlapping with Swedish Stirling's waste-heat-to-power value proposition for heavy-industry customers.
  • Crusoe Energy: Crusoe converts stranded/flare gas energy into distributed compute — the closest analogue to Swedish Stirling/TEXEL's emerging off-grid AI compute positioning using waste heat.

Direct peers

  • Cleanergy: Cleanergy is a Swedish Stirling engine developer focused on converting heat into power, making it a direct technology peer to Swedish Stirling's PWR BLOK platform.
  • Orcan Energy: Orcan Energy builds Organic Rankine Cycle (ORC) systems that convert industrial waste heat into electricity — the closest direct competitor to Swedish Stirling's PWR BLOK for the same heavy-industry customer base.
  • MicroPower Global: MicroPower Global develops Stirling-engine-based systems that convert waste heat into electricity, overlapping directly with Swedish Stirling's core technology and industrial use cases.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Swedish Stirling social profiles

Digital presence

Swedish Stirling financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Swedish Stirling leadership team

Management profile

Number of profiles

Swedish Stirling funding detail

Funding detail

Funding overview

Funding rounds3 records

Investors4 records

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

Swedish Stirling M&A and investment

M&A and investment

M&A

Investments

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

Frequently asked questions about Swedish Stirling

What does Swedish Stirling do?

Swedish Stirling develops and commercializes its proprietary PWR BLOK energy recycling technology, a Stirling engine-based system that captures waste heat from industrial processes—primarily metallurgical smelting operations—and converts it into usable electrical power. The company's first large-scale commercial deployment is a 10MW PWR BLOK installation at the Lion smelter (Glencore Merafe joint venture) in South Africa, enabling industrial customers to generate additional electricity while reducing CO2 emissions.

Is Swedish Stirling a public or private company?

Swedish Stirling is a private company. It is classified as public and is currently operating.

When was Swedish Stirling founded?

Swedish Stirling was founded in 2008. It employs 11 to 50 people.

Where is Swedish Stirling based?

Swedish Stirling is headquartered in Frölunda, Sweden, in the Europe region.

Who are Swedish Stirling's main competitors?

Broad incumbents on record are MAN Energy Solutions, Caterpillar, Cummins and Wärtsilä. Emerging players are Rondo Energy, Electrified Thermal Solutions (ETS) and Crusoe Energy. Direct peers are Cleanergy, Orcan Energy and MicroPower Global.

Does Swedish Stirling have an API?

No public API is recorded for Swedish Stirling.

What industry is Swedish Stirling in?

Swedish Stirling's product category is Industrial Energy Equipment. Its primary akta.pro industry code is EUAAAKAL, Energy Recovery & Power Island Systems (Boilers, turbines, generators, condensers). Its NAICS code is 33361 and its SIC code is 3510.

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Live signals
PR NewswireSwedish GreenTech can meet AI's global energy needs - with waste gasSwedish-American tech company TEXEL is pre-launching its green AI energy solution in Gothenburg, Sweden on September 17, 2025, converting wasted landfill gas that would otherwise be flared into electricity to power data centers. The technology addresses AI's rapidly growing electricity demands, which already account for nearly 1.5 percent of global usage and risk overloading power grids. TEXEL has acquired Nasdaq-listed Swedish Stirling and its production facilities in Sibbhult to support its expansion, with the U.S. market identified as the primary growth focus despite tariff-related delays to the American launch.PR NewswireSwedish GreenTech can meet AI's global energy needs - with waste gasSwedish-American tech company TEXEL is launching its green energy technology that converts waste landfill gas into electricity to power AI data centers, with the first European commercial pre-launch scheduled for September 17 at a landfill site in Gothenburg, Sweden. The company acquired Nasdaq-listed Swedish Stirling and its production facilities in Sibbhult, Sweden, to support its expansion. Due to tariff turbulence between Europe and the U.S., TEXEL's American launch has been delayed, prompting this European demonstration showcasing how flared methane gas can be harnessed to generate AI compute.news.cision.comSwedish Stirling publishes prospectus for the rights issueSwedish Stirling AB has published a prospectus for a rights issue of ordinary shares totaling approximately SEK 200 million, following approval by the Swedish Financial Supervisory Authority. The company appointed ABG Sundal Collier AB and Bryan, Garnier & Co as financial advisors and Mannheimer Swartling Advokatbyrå as legal counsel for the transaction. Application forms for subscription are available on the companies' websites starting December 7, 2022.InderesSwedish Stirling resolves on rights issue of approximately SEK 200 million and announces termsSwedish Stirling has resolved to conduct a rights issue raising approximately SEK 200 million to finance the serial production and commercial rollout of its PWR BLOK product. Existing shareholders and external investors have committed to subscribe for about 80% of the new shares, with the subscription period scheduled from December 7 to December 21, 2022. The net proceeds will primarily support working capital and product development while also repaying an existing loan.PR NewswireSwedish Stirling resolves on rights issue of approximately SEK 200 million and announces termsSwedish Stirling AB has resolved to conduct a rights issue raising approximately SEK 200 million, with proceeds designated for the serial production and commercial rollout of its PWR BLOK technology. The company secured subscription and underwriting commitments covering roughly 80% of the offering from existing shareholders and external investors. This financing aims to support working capital, product development, and the repayment of an existing loan.PR NewswireSwedish Stirling AB: Q3, 2022 reportSwedish clean tech company Swedish Stirling AB published its Q3 2022 interim report on November 9, showing severe financial deterioration with net sales of TSEK 39 and earnings per share of SEK -1.90, compared to TSEK 50 and SEK -0.13 in the same period the prior year. The company's Board withdrew a planned SEK 100 million share offering that was intended to finance the PWR BLOK unit at Glencore's Lion smelter in Steelport, South Africa, citing prevailing market conditions. Swedish Stirling also announced a write-down of approximately SEK 204 million in development costs, primarily related to PWR BLOK Generation 1 and Generation 2.news.cision.comSwedish Stirling intends to carry out a rights issue of approximately SEK 200 millionSwedish Stirling AB intends to conduct a rights issue aimed at raising approximately SEK 200 million before transaction costs, with existing shareholders given preferential rights. The proceeds will primarily be used to finance the serial production and commercial rollout of their product, PWR BLOK, which aims for energy conversion. Additionally, the company has announced a refined go-to-market strategy, transitioning to focus on product sales instead of energy conversion services.news.cision.comGlencore, Merafe and the af Jochnick family – cornerstone investors in climate compensating preference shareSwedish Stirling AB has secured subscription undertakings totaling SEK 37 million from Glencore International AG, Merafe Resources Limited, and the af Jochnick family to purchase carbon-offsetting preference shares. These funds are designated to finance the Lion Project operated by the Glencore Merafe joint venture in South Africa. The share issuance remains conditional on completion of the issue and regulatory approvals.PR NewswireGlencore, Merafe and the af Jochnick family - cornerstone investors in climate compensating preference shareGlencore, Merafe Resources, and the af Jochnick family have committed to investing SEK 37 million in Swedish Stirling AB's upcoming issuance of carbon-offsetting preference shares. These funds are designated to finance the Lion Project, specifically the production of PWR BLOKs for operations at the Glencore Merafe joint venture's ferrochrome smelter in South Africa. The investment underscores a strategic partnership aimed at climate change mitigation through energy transition technologies.news.cision.comSwedish Stirling secures debt financing in South AfricaSwedish Stirling AB secured a loan of MZAR 162 from the Industrial Development Corporation of Africa (IDC) to finance its first large-scale commercial PWR BLOK project at the Lion smelter in South Africa. The 10MW installation is scheduled for shipment later this year, marking a significant milestone in making the company's clean-tech technology bankable at commercial rates.