Algeno
Algeno AB is a Swedish AI software company that provides AI-optimized Model Predictive Control heating for property owners, serving multi-family residential, public, commercial, and cooperative buildings in Sweden via a managed-service subscription that integrates with existing BMS/SCADA systems.
- Company typePrivate
- Founded2023
- HeadquartersGöteborg, Sweden
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Algeno does
Algeno AB is a Swedish AI software company, founded in 2023 (with research origins tracing to 2016-2017) and headquartered in Göteborg, that provides AI-optimized heating control to property owners. Its core product is a cloud-based Model Predictive Control (MPC) platform that builds a unique data-driven AI model for each individual building, trained on real operational sensor data and 48-hour weather forecasts to deliver proactive, forecast-based heating control rather than reactive feedback loops. The system integrates via encrypted HTTPS APIs with existing BMS/SCADA infrastructure from 11+ vendors (Siemens, Schneider Electric, Fidelix, Nordomatic, Citect, Bastec, Elvaco, Webport, EcoGuard, ProptechOS, Iquest), enabling overlay deployment without replacing existing control systems. A fallback advanced PID controller operates during the AI training period (~few weeks) and buildings revert automatically to local DUC/PLC defaults if the cloud connection is lost.
The company serves enterprise and government property owners in Sweden across four primary segments: multi-family residential housing (Stena Fastigheter, Sveafastigheter, ÖrebroBostäder, Helsingborgshem), public properties such as schools and elderly care homes (Huddinge Samhällsfastigheter, Göteborgs Stadsfastighetsförvaltning), commercial offices (Humlegården, Örebroporten Fastigheter), and housing cooperatives. Reported deployment scale is 3,000+ buildings and 60,000+ apartments, with documented energy savings of 5-10% on average and 8-18% at ÖrebroBostäder's first 30 substations. The platform spans four modules: Algeno Heating Control (core AI control), Algeno Monitor (unified status view), Algeno Analyze (energy performance analysis), and Algeno Peak Power (peak shaving).
Algeno operates a sales-led go-to-market with a named direct enterprise sales team, multi-year managed-service subscription contracts that bundle AI platform with onboarding, training, dedicated contact, and regular operational meetings, plus professional services for pilot-to-scale rollouts. Distribution leverages the HBV (Husbyggnadsvaror) framework agreement for Swedish public-sector procurement, Chalmers Ventures backing, and reference customers. The company is a portfolio company of Chalmers Ventures (since May 2023) and won the E-Prize of the Year 2025. Founded by three PhDs (Emil Gustavsson, Mats Jirstrand, Magnus Önnheim) originating from the Fraunhofer-Chalmers Centre research project, with Per Adolfsson as CEO.
Algeno firmographics
Firmographics- Name
- Algeno
- Legal name
- Algeno AB
- Website
- https://algeno.se
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Algeno AB is a Swedish AI software company that provides AI-optimized Model Predictive Control heating for property owners, serving multi-family residential, public, commercial, and cooperative buildings in Sweden via a managed-service subscription that integrates with existing BMS/SCADA systems.
- Ownership category
- akta.pro rank
Algeno industry classification
Industry- Product category
- Building Energy Management Software
- NAICS
- Automatic Environmental Control Manufacturing for Residential, Commercial, and Appliance Use (334512)
- SIC
- Auto Controls For Regulating Residential & Comml Environments (3822)
- akta.pro primary industry
- Building Thermal Controls & Building Management Systems (HVAC BMS) (IMAHAKAK)
Keywords
Where Algeno is headquartered
LocationHeadquarters
- HQ city
- Göteborg
- HQ country
- Sweden
- HQ region
- Europe
Offices1 record
Markets served
Algeno business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- AI Heating Optimization Subscription (Managed Service): Recurring managed service that includes the AI platform, technical onboarding, user training, a dedicated contact person, and regular operational meetings. The software is part of the package, not the entire package. Customers are billed as a service (multi-year contracts with established clients).
- Onboarding, Training & Implementation Services: One-time professional services bundled with subscription: initial integration, technical onboarding, dedicated project manager support, user training, and pilot-to-scale rollout services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Quote-based multi-year managed service subscription (not publicly listed) |
Go-to-market motion5 records
Distribution channels5 records
Marketing channels10 records
Algeno product offering
Product offeringCore offering
Algeno provides an AI-based Model Predictive Control (MPC) platform sold as a managed subscription service that builds a unique data-driven AI model (digital twin) per building to optimize heating systems in real time, integrating via cloud APIs with existing BMS/SCADA infrastructure. The service is bundled with technical onboarding, user training, a dedicated contact person, and regular operational meetings under multi-year contracts, targeting Swedish residential, public, and commercial property owners to deliver stable indoor climate and 5-10% average reductions in heating costs.
Differentiator
Problem solved
Functional benefit
Brands
- Algeno Monitor: Web-based module for monitoring property system status and performance, with a unified view of buildings.
- Algeno Analyze
- Algeno Heating Control
- Algeno Peak Power
Products and services
- Algeno Heating Control AI-optimized real-time heating control delivered as a managed subscription service for property owners with district-heated or heat-pump-heated buildings. Uses per-building MPC AI models (digital twins) and 48-hour weather forecasts to proactively optimize heating; integrates via API to existing BMS/SCADA. Bundled with onboarding, training, a dedicated contact person, and operational meetings under multi-year contracts.
- Algeno Monitor Web-based monitoring module providing a unified view of property system status, performance, and indoor climate per building, with REST API access for data export to customers' own reporting systems.
- Algeno Analyze Analytics module for analyzing energy performance and identifying deviations across the property portfolio, supporting fact-based reporting and energy/climate target tracking for energy and sustainability officers.
- Algeno Peak Power Peak-power reduction module that configures the AI heating controller to never exceed a specified power level, reducing peak power demand and lowering both energy and power costs (particularly for heat pumps and electric heating optimized against electricity spot prices).
Quantifiable outcome
- 5-10% average energy savings across a property portfolio
- +6 more outcomes
Companies that use Algeno
Customer profileNamed customers9 records
Segments6 records
Ideal customer profiles4 records
Algeno technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration12 records
AI capability1 record
Feature7 records
Algeno partnerships and signals
Strategic signalPartnerships
17 partnerships are on record, tiered core research / founding partner, flagship customer & research originator, core research partner, validation funder, major bms integration, major integration platform, standard integration, key delivery partner for public-sector deployments and major public-sector channel.
- Fraunhofer-Chalmers Centre (FCC)core research / founding partnerOriginating research partner. The 2017 research project between ÖrebroBostäder and Fraunhofer-Chalmers Centre produced the "Chalmers algorithm" — the foundation of Algeno's MPC technology. FCC is a research institute specializing in industrial mathematics. Co-development continued through 2022 with Swedish Energy Agency-funded collaboration.
- ÖrebroBostäder (ÖBO)flagship customer & research originatorÖBO approached a research group at the Fraunhofer-Chalmers Centre in 2016, launching the collaboration that produced the Algeno technology. Signed agreement May 2024 covering 300 of 400 heating plants. Expanded to a long-term agreement (April 2025) jointly with Örebroporten Fastigheter AB for AI-based control of heating substations — described as a milestone driving development of AI control in additional areas together with the Örebro innovation community.
- Chalmers University of Technologycore research partnerChalmers was a research partner in the 2020 Swedish Energy Agency-funded collaboration project with Göteborg Energi, validating Algeno's technology nationally. Co-founders Mats Jirstrand (PhD) and Magnus Önnheim (PhD) come from Chalmers' research ecosystem.
- Göteborg Energicore research partnerPartnered with Chalmers and Algeno in a 2020 Swedish Energy Agency-funded collaboration project that validated the technology's potential nationally.
- Swedish Energy Agency (Energimyndigheten)validation funderFunded a collaboration project in 2020 with Chalmers and Göteborg Energi that provided national validation of Algeno's technology.
- Siemens (Building X & Desigo CC)major bms integrationAlgeno integrates with Siemens Building X and Siemens Desigo CC — two of the most widely deployed building management systems. Shown in "Några av våra integrationer" logo list.
- Schneider Electricmajor bms integrationAlgeno integrates with Schneider Electric building management systems, listed in the integrations logo section.
- ProptechOSmajor integration platformListed as one of Algeno's integrations, ProptechOS is a real estate data platform enabling Algeno connectivity.
- Nordomaticstandard integrationListed in Algeno's integrations logo section as a connected building management system partner.
- Fidelixstandard integrationListed as one of Algeno's integrations, Fidelix is a Finnish building automation systems provider.
- Citect SCADAstandard integrationListed in Algeno's integrations logo section as a connected SCADA system.
- Bastecstandard integrationListed in Algeno's integrations logo section as a connected building automation system.
- Elvacostandard integrationListed in Algeno's integrations logo section as a connected meter/sensor data platform.
- Webportstandard integrationListed in Algeno's integrations logo section as a connected building management platform.
- EcoGuardstandard integrationListed in Algeno's integrations logo section as a connected building management system.
- Iquestkey delivery partner for public-sector deploymentsDigitalization partner at Huddinge Samhällsfastigheter. Iquest provides the "Miner" platform that connects existing property systems with new services like Algeno, allowing Huddinge's own staff to train, adapt, and connect more properties themselves without large external resource commitments.
- HBV (Husbyggnadsvaror) Framework Agreementmajor public-sector channelProcurement and quality-assured framework agreement for AI-based heat management and optimization in the Swedish public sector. Provides Algeno with a public-sector procurement channel.
Scale indicators14 records
Recent moves6 records
Expansion highlights6 records
Algeno competitors and assessment
Company assessmentDirect peers
- BrainBox AI: Canadian AI startup applying deep learning to HVAC and building energy optimization for commercial real estate. Direct competitor in AI-driven heating/HVAC control, with a similar overlay-via-API go-to-market and overlapping customer profile of multi-site property owners.
- 75F: US-based provider of IoT and AI-powered building HVAC control targeting commercial real estate. Closely comparable product category (AI heating/HVAC optimization) delivered as a cloud service that integrates with existing BMS, much like Algeno.
- Switch Automation: Building analytics and optimization platform for portfolios including AI-driven HVAC control. Targets the same enterprise property-owner buyer and competes on AI-driven savings versus legacy BMS controls.
- OptiWatti: Nordic AI-based energy optimization platform for heating and electricity in buildings. Targets property owners in the Nordics with AI heating control and demand response — overlapping product, geography and customer segment with Algeno.
Emerging players
- Kiona (formerly NODA): European (with Swedish heritage from NODA Intelligent Systems) provider of AI and digitalization for district heating and building energy. Directly comparable in Sweden/Nordics district-heating optimization use case and partly overlapping customer base of public housing companies.
- GridBeyond: AI-driven energy optimization and demand-response platform with building energy management capabilities. Comparable technology and AI optimization logic, with stronger focus on grid-side flexibility but a meaningful building-energy overlap.
- KGS Buildings: Swedish/Nordic proptech focused on data-driven building operations and energy optimization for real-estate portfolios. Comparable target buyer (Swedish property owners), with adjacent rather than identical product offering.
Regional players
- Metry: Sweden-based energy data platform for real estate that collects, structures and visualizes building energy data. Complementary rather than direct overlap, but addresses the same Swedish property-owner buyer and the same monitoring/analyze use cases in Algeno's platform.
Broad incumbents
- Siemens (Smart Infrastructure / Building X): Global incumbent BMS provider whose Building X and Desigo CC platforms are explicitly integrated with Algeno. Competes on the underlying control systems and increasingly on AI optimization; relevant incumbent Algeno must remain vendor-neutral to integrate with.
- Schneider Electric (EcoStruxure): Global BMS and energy-management incumbent listed as an Algeno integration partner. Provides competing AI/analytics for building energy optimization at portfolio scale; broad incumbent comparison for technology and buyer overlap.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Algeno social profiles
Digital presenceAlgeno financial estimates
Financial estimateRevenue estimate
Valuation estimate
Algeno leadership team
Management profileNumber of profiles
Profiles10 records
Algeno funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Algeno 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 Algeno
What does Algeno do?
Algeno provides an AI-based Model Predictive Control (MPC) platform sold as a managed subscription service that builds a unique data-driven AI model (digital twin) per building to optimize heating systems in real time, integrating via cloud APIs with existing BMS/SCADA infrastructure. The service is bundled with technical onboarding, user training, a dedicated contact person, and regular operational meetings under multi-year contracts, targeting Swedish residential, public, and commercial property owners to deliver stable indoor climate and 5-10% average reductions in heating costs.
Is Algeno a public or private company?
Algeno is a private company. It is classified as venture growth investor backed and is currently operating.
When was Algeno founded?
Algeno was founded in 2023. It employs 1 to 10 people.
Where is Algeno based?
Algeno is headquartered in Göteborg, Sweden, in the Europe region.
How does Algeno make money?
Two revenue lines are on record. AI Heating Optimization Subscription (Managed Service) is the primary driver. The others are onboarding, Training & Implementation Services.
Who are Algeno's main competitors?
Direct peers on record are BrainBox AI, 75F, Switch Automation and OptiWatti. Emerging players are Kiona (formerly NODA), GridBeyond and KGS Buildings. Metry is listed as a regional player. Broad incumbents are Siemens (Smart Infrastructure / Building X) and Schneider Electric (EcoStruxure).
Does Algeno have an API?
Yes. Algeno offers a REST API for partner and customer-facing integrations. Communication with existing building systems is performed via an encrypted HTTPS API. The Algeno Monitor product provides real-time access to energy performance, system status, and indoor climate data per property, and the data is available via Algeno's REST API for export to customers' own reporting systems. The API is used both to retrieve operating and temperature data from a central node in the customer's existing environment and to send offset control signals to sub-control centers. Vendor-neutral with open APIs.
What industry is Algeno in?
Algeno's product category is Building Energy Management Software. Its primary akta.pro industry code is IMAHAKAK, Building Thermal Controls & Building Management Systems (HVAC BMS). Its NAICS code is 334512 and its SIC code is 3822.