Climeon
Climeon AB is a Swedish clean-tech company that designs and sells Organic Rankine Cycle (ORC) HeatPower systems (HeatPower 150 and 300) to convert low-temperature waste heat and geothermal heat into electricity for maritime, industrial, power-generation, and geothermal customers.
- Company typePublic
- Founded2011
- HeadquartersStockholm, Sweden
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What Climeon does
Climeon AB is a Swedish clean-technology company founded in 2011 and publicly listed on Nasdaq Stockholm (ticker CLIME), headquartered in Kista, Stockholm. The company designs and sells Organic Rankine Cycle (ORC) waste heat recovery systems under its HeatPower product family, with the current flagship being the HeatPower 300 unit capable of generating up to 300 kW of electricity per system from low-temperature heat sources. Its earlier HeatPower 150 system (150 kW per unit) remains deployed across existing customer sites.
Climeon serves four end-markets: maritime (cruise lines, container and cement carriers, ro-ro/passenger ferries), industrial processes (PET resin, steel, cement), power generation (genset waste heat at gas-engine plants), and geothermal (low-temperature resources in Iceland and Japan). Revenue is generated primarily through hardware sales of HeatPower systems as multi-year project solutions, supplemented by service and maintenance contracts. The company sells through direct enterprise field sales, OEM-embedded relationships with shipyards such as Fincantieri, Tersan, Xiamen Shipbuilding, and Jiangsu New Yangzi Shipbuilding, and through EPC/installation partners such as Termolink and Goltens.
The business is at an early-commercial stage: the company reports recurring operating losses (SEK -21.8M in Q2 2026 versus SEK -20.6M in Q2 2025), has relied on dilutive directed share issues (SEK 30M in May 2025 and SEK 23M in April 2026) for working capital, and has accumulated roughly 14+ reference installations across named enterprise customers including Virgin Voyages, Havila Voyages, Viking Line, Maersk, NovaAlgoma Cement Carriers, Neo Group, Landmark Power Holdings, Baseload Power Iceland, Baseload Power Japan, and SSAB. Climeon employs approximately 50 co-workers with operations primarily in Sweden and a growing delivery presence across Europe, Asia, and the Pacific.
Climeon firmographics
Firmographics- Name
- Climeon
- Legal name
- Climeon AB
- Website
- https://climeon.com
- Company type
- Public
- Founded year
- 2011
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Climeon AB is a Swedish clean-tech company that designs and sells Organic Rankine Cycle (ORC) HeatPower systems (HeatPower 150 and 300) to convert low-temperature waste heat and geothermal heat into electricity for maritime, industrial, power-generation, and geothermal customers.
- Ownership category
- akta.pro rank
Climeon industry classification
Industry- Product category
- Waste Heat Recovery Systems / Clean Energy Technology
- NAICS
- Heating Equipment (except Warm Air Furnaces) Manufacturing (333414), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (3334)
- SIC
- Heating Equipment, Except Electric & Warm Air Furnaces (3433), Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Waste Heat Recovery & Heat Integration (HRSG/ORC, Pinch Analysis, Heat Exchangers) (EUABAJAF)
- akta.pro secondary industries
- Binary Cycle (ORC/Kalina) Geothermal Power Plants (EUACAHAC), Heat Exchangers & Thermal Transfer Equipment (IMAHAKAC)
Keywords
Where Climeon is headquartered
LocationHeadquarters
- HQ city
- Stockholm
- HQ country
- Sweden
- HQ region
- Europe
Offices2 records
Markets served
Climeon business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- HeatPower System Sales: Sale of ORC waste heat recovery systems (HeatPower 150, HeatPower 300) to maritime, industrial, energy, and geothermal customers. Systems are sold with associated installation, commissioning, and ongoing service support.
- Service and Maintenance: Ongoing service, maintenance, and support for installed HeatPower systems. Service team handles installation, testing, and customer support at customer sites.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Quote-based project pricing for HeatPower systems |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels6 records
Climeon product offering
Product offeringCore offering
Climeon designs, manufactures, and sells Organic Rankine Cycle (ORC) waste heat recovery systems under its HeatPower brand (HeatPower 150 and HeatPower 300) that convert low-temperature waste heat from marine engines, industrial processes, power plants, and geothermal sources into clean electricity. Systems are delivered as turnkey project solutions including equipment, installation, commissioning, and ongoing service.
Product overview
Climeon offers a unified product portfolio centered on the HeatPower ORC (Organic Rankine Cycle) platform for waste heat recovery. The product family consists of two main systems: HeatPower 300 (the flagship current-generation system generating up to 300 kW) and HeatPower 150 (an earlier-generation system at 150 kW capacity). Both products convert low-temperature waste heat from industrial processes, marine engines, or geothermal sources into clean electricity. The company targets maritime, industrial, energy, and geothermal sectors with turnkey waste heat-to-power solutions.
Differentiator
Problem solved
Functional benefit
Brands
- HeatPower: ORC (Organic Rankine Cycle) waste heat recovery system that converts low-temperature waste heat into clean, cost-effective electricity. Includes HeatPower 150 and HeatPower 300 product models.
Products and services
- HeatPower 300 The flagship ORC (Organic Rankine Cycle) waste heat recovery system that converts low-temperature waste heat into clean electricity, generating up to 300 kW of renewable power per unit. Sold as a turnkey project solution to maritime operators, industrial manufacturers, power producers, and geothermal developers with installation, commissioning, and service included.
- HeatPower 150 Earlier-generation ORC waste heat recovery system that converts low-temperature waste heat into clean electricity, delivering 150 kW per unit. Successfully deployed across maritime, industrial, energy, and geothermal applications with proven reference installations including Virgin Voyages, Havila Voyages, Viking Line, Maersk, SSAB, Baseload Power Iceland, and Baseload Power Japan.
- Service and Maintenance Ongoing service, maintenance, and support for installed HeatPower systems, delivered by Climeon's internal Service & Delivery team at customer sites. Covers installation, testing, commissioning, and post-installation support.
Quantifiable outcome
- Payback period of less than 5 years
- +3 more outcomes
Companies that use Climeon
Customer profileNamed customers11 records
Segments4 records
Ideal customer profiles4 records
Climeon technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Climeon partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- FincantiericoreShipyard partner for Virgin Voyages cruise ship construction. Climeon supplied 900 kW HeatPower systems (six 150 kW units per vessel) on four Virgin Voyages vessels built by Fincantieri, with project approval from Lloyd's Register.
- TersancoreTurkish shipyard that constructed Havila Voyages' four cruise vessels with Climeon HeatPower systems installed. First two ships retrofitted after delivery, last two equipped during construction.
- Xiamen Shipbuilding Industry Co., Ltd.coreChinese shipyard that constructed Viking Line's Glory vessel with integrated Climeon HeatPower technology (900 kW including steam turbines).
- TermolinkcoreEPC partner that collaborated with Climeon to deliver HeatPower 300 ORC system at Neo Group's PET resin manufacturing facility in Lithuania.
- Yellow PowerminorPartner that prepared Climeon HeatPower 150 units prior to installation at Landmark Power Holdings' Worksop power plant in the UK.
- GoltensminorMaritime installation partner for ORC waste heat recovery systems. While primarily associated with competitor Orcan Energy, Goltens represents a type of installation partner in the maritime ORC installation ecosystem.
Scale indicators11 records
Recent moves6 records
Expansion highlights5 records
Climeon competitors and assessment
Company assessmentBroad incumbents
- Alfa Laval: Global supplier of heat exchangers, marine equipment, and waste heat recovery boiler systems. Overlaps with Climeon in marine waste heat recovery heat transfer and integration components.
- Wärtsilä: Global marine engine OEM and energy systems provider with growing decarbonization and waste heat recovery offerings (e.g., Wärtsilä Energy Storage, hybrid solutions). Competes with Climeon for maritime customers' efficiency and emissions budgets.
- ABB Marine & Ports: Supplies power generation, propulsion, and energy efficiency systems to the maritime industry, including hybrid/electric solutions. Adjacent to Climeon's on-board power generation value proposition.
Direct peers
- Ormat Technologies: U.S.-based vertically integrated geothermal power company using binary (ORC) cycle technology, with a strong industrial-recovery and energy storage presence. Directly comparable to Climeon's geothermal and waste heat recovery operations.
- ElectraTherm (Baker Hughes): ORC-based low-temperature waste heat-to-power company, now part of Baker Hughes. Competes with Climeon in distributed small-scale industrial and geothermal WHR applications.
- Exergy International: Italian ORC turbine manufacturer serving geothermal, biomass, and industrial waste heat recovery. Direct competitor in low-to-medium temperature ORC power generation markets.
- Cleanergy: Swedish clean-tech company developing Stirling-based and ORC heat-to-power solutions. Comparable Scandinavian-origin, low-temperature thermal technology player.
- Orcan Energy: German-headquartered ORC waste heat recovery specialist serving maritime, industrial, and geothermal applications. Closest direct competitor to Climeon with similar product positioning, target customers, and deployment model.
- Turboden (Mitsubishi Heavy Industries): Italian ORC turbine manufacturer, now part of Mitsubishi Heavy Industries, serving industrial, geothermal, and biomass power generation. Directly competes with Climeon in industrial-scale ORC waste heat recovery projects.
Emerging players
- Cryostar (Chart Industries): Provides cryogenic and heat-to-power equipment for LNG and industrial waste heat applications. Emerging competitor in adjacent low-temperature waste heat recovery markets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Climeon social profiles
Digital presenceClimeon financial estimates
Financial estimateRevenue estimate
Valuation estimate
Climeon leadership team
Management profileNumber of profiles
Profiles11 records
Climeon funding detail
Funding detailFunding overview
Funding rounds4 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Climeon 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 Climeon
What does Climeon do?
Climeon designs, manufactures, and sells Organic Rankine Cycle (ORC) waste heat recovery systems under its HeatPower brand (HeatPower 150 and HeatPower 300) that convert low-temperature waste heat from marine engines, industrial processes, power plants, and geothermal sources into clean electricity. Systems are delivered as turnkey project solutions including equipment, installation, commissioning, and ongoing service.
Is Climeon a public or private company?
Climeon is a public company. It is classified as public and is currently operating.
When was Climeon founded?
Climeon was founded in 2011. It employs 51 to 100 people.
Where is Climeon based?
Climeon is headquartered in Stockholm, Sweden, in the Europe region.
How does Climeon make money?
Two revenue lines are on record. HeatPower System Sales are the primary driver. The others are service and Maintenance.
Who are Climeon's main competitors?
Broad incumbents on record are Alfa Laval, Wärtsilä and ABB Marine & Ports. Direct peers are Ormat Technologies, ElectraTherm (Baker Hughes), Exergy International, Cleanergy, Orcan Energy and Turboden (Mitsubishi Heavy Industries). Cryostar (Chart Industries) is listed as an emerging player.
Does Climeon have an API?
No public API is recorded for Climeon.
What industry is Climeon in?
Climeon's product category is Waste Heat Recovery Systems / Clean Energy Technology. Its primary akta.pro industry code is EUABAJAF, Waste Heat Recovery & Heat Integration (HRSG/ORC, Pinch Analysis, Heat Exchangers), with a secondary code of EUACAHAC, Binary Cycle (ORC/Kalina) Geothermal Power Plants. Its NAICS code is 333414 and its SIC code is 3433.