Neova

What Neova does

Neova AB is a Swedish bioenergy company specializing in the extraction, processing, and sale of peat products for energy, horticulture, and animal husbandry applications. The company is headquartered in Hudiksvall, Sweden, and operates as a subsidiary of Finnish Neova Oy (formerly Vapo Oy), which is 51% owned by the Finnish state and 49% by a consortium of Finnish municipal energy companies. Neova's product portfolio is anchored in three core lines: Växttorv (plant peat) used as a growing substrate for forestry nurseries and commercial horticulture; Energitorv (energy peat) sold for co-combustion at 10–20% blending ratios with wood fuels in district heating plants and industrial facilities; and Torvströ (peat litter) used as bedding for cattle, pigs, and horses. Supporting service lines include consulting for peat bog permitting and establishment, production and industrial contracting, peat harvesting machinery sales and leasing developed jointly with the parent company, and post-extraction rehabilitation of drained peatlands into wetlands, forests, and carbon sinks. Neova holds ISO 14001 certification continuously since 2004 and harvests peat from previously drained bogs at a rate of approximately 1% of annual peat growth, positioning sustainability as a core operational and marketing pillar.

Neova's customer base is concentrated in Swedish forestry and agriculture. The company supplies Sweden's three largest forest plant producers — Svenska Skogsplantor (125 million plants/year), Holmen Frö och Plant (40 million), and Södra Skogsplantor (40 million) — collectively supporting the majority of Sweden's ~380 million annual forest seedling cultivation. Energy peat is sold to district heating utilities and industrial heat users, while peat litter is distributed via terminals across Sweden, through the Biobränslekompaniet round-bale partnership (KRAV-approved for organic herds), and directly to farmers and individual consumers via bulk delivery and customer service channels. Neova conducts its own research through the TorvForsk foundation and participates in industry associations including STPF, IPS, and SVEBIO, while running educational study visits and open peat bog days for schools and the public.

The business model is asset-intensive commodity sales with a mix of bulk deliveries to industrial customers, distribution through a nationwide terminal network, and direct sales to smaller buyers. All peat is extracted from Neova's own bogs and processed using in-house developed machinery, providing vertical integration from extraction through to delivery. Pricing is negotiated per transaction based on volume, product type, and delivery location, with no publicly disclosed price list. Revenue streams are diversified across energy peat, planting peat, peat litter, consulting services, and machinery sales/leasing. The company operates 101–250 employees and was founded in 2018 as a reconstituted entity following the 2019 separation of heat/energy operations into Nevel AB, though its operational lineage traces back through Råsjö Torv and SÅBI to 1964 and 1980 respectively.

Name

Neova

Legal name

Neova AB

Website

https://neova.se

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

101–250 employees

Short description

Neova AB is a Swedish peat producer and subsidiary of state-influenced Finnish Neova Oy, harvesting and selling plant peat for forestry nurseries, energy peat for co-combustion in heating plants, and peat litter for animal bedding across Sweden.

Ownership category

akta.pro rank

Product category

Bioenergy Peat Products

NAICS

Forestry and Logging (113), Logging (1133), Timber Tract Operations (1131)

SIC

Forestry (800), Agricultural Services (700)

akta.pro primary industry

Forestry Residues Supply & Aggregation (Harvest Slash, Thinnings, Sawmill Residuals) (EUAAAFAA)

akta.pro secondary industries

Biomass Baling & Densification (Bundles, Bales) (AFAMAGAH), Biomass Storage & Drying (Covered Storage, Seasoning, Moisture Management) (AFAMAGAL), Regeneration & Reforestation Operations (Site Prep, Planting, Seeding) (AFAMAAAC), Forest Residues & Biomass Feedstock Management (Thinning, Slash, Collection) (IMAMAJAN)

Keywords

• Bioenergy peat production
• Plant peat substrates
• Animal bedding peat
• Co-combustion fuels
• Peat bog rehabilitation

Headquarters

HQ city

Johanneshov

HQ country

Sweden

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Energy Peat Sales: Sale of peat for heat production, including stycketorv (block peat) and frästorv (milled peat) for use in heating plants. Energy peat is used primarily through co-combustion with other biofuels at 10-20% blending ratios.
2. Planting Peat Sales: Bulk delivery of planting peat to producers who further process it for growing purposes. Low to medium-humified Sphagnum peat serves as excellent raw material for cultivation and garden planting.
3. Peat Litter (Torvströ) Sales: Sale of peat litter for animal bedding (horses, cattle, pigs). Product sold in bulk or packaged formats for use in stables and barns.
4. Consulting and Contractor Services: Advisory services for permit applications, establishment of peat bogs, production contracting, industrial contracting, fuel/personal/machine deliveries for district heating operations, and peat bog rehabilitation.
5. Machine Sales and Leasing: Neova, together with the parent company, manufactures and develops machines for peat extraction. The company sells and leases these machines to customers.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Neova harvests and processes peat from its own bogs in Sweden, supplying three primary product lines: Växttorv (plant peat) for horticultural and forest seedling cultivation substrates, Energitorv (energy peat) used in co-combustion with wood fuels at 10-20% blend ratios in heating plants, and Torvströ (peat litter) for animal bedding. The company complements its peat sales with consulting services (permit applications, production contracting), peat extraction machinery sales and leasing, and mandatory after-treatment rehabilitation of completed peat extraction sites.

Product overview

Neova is a Scandinavian bioenergy company and one of the leading suppliers of peat products in Sweden. The company's product portfolio consists of Växttorv (plant peat) for cultivation and gardening, Energitorv (energy peat) for heating and co-combustion, and Torvströ (peat straw) for animal bedding. Supporting services include consulting for new peat extraction permits, machinery sales and leasing, production contracting, and after-treatment rehabilitation of peat sites. Neova AB is a subsidiary of Finnish Neova Oy, which also owns other brands including Kekkilä Oy and Hasselfors Garden AB in the growing media and gardening sector.

Differentiator

Problem solved

Functional benefit

Products and services

• Växttorv (Plant Peat) Low to medium-humified white moss peat used as a base for planting soil and cultivation substrates, suitable for gardening, plant cultivation, and landscaping applications. Neova supplies bulk deliveries to producers who further process the peat for growing purposes.
• Energitorv (Energy Peat) Peat used primarily for co-combustion with other biofuels (10-20% blend ratio) in heating plants and power stations. Energy peat reduces boiler problems like slagging and improves combustion efficiency when mixed with wood fuels.
• Torvströ (Peat Straw/Litter) Airy white moss peat of high quality with optimal moisture for rapid and efficient absorption. Used as bedding for cattle, pigs, and horses. Has antiseptic properties, prevents bacterial infections, and creates excellent fertilizer from animal waste.
• Konsulttjänster (Consulting Services) Comprehensive consulting services including permit applications, peat extraction site preparation, production contracting, industrial contracting, fuel and personnel delivery, rehabilitation of peat extraction sites, and environmental services.
• Maskiner (Peat Extraction Machines) Neova and its parent company manufacture and develop peat machinery. The company sells or leases machines for peat extraction operations to customers.
• Efterbehandling (After-treatment / Rehabilitation Services) Rehabilitation services for completed peat extraction sites. Includes reforestation, wetland creation, energy forest cultivation, agriculture, and other land restoration methods. Mandatory for all Swedish peat operations.

Quantifiable outcome

• Peat extraction at 1 promille of Swedish peatlands and 1% of annual growth ensures sustainable harvesting
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• BiobränslekompanietcoreChannel Partner/ Reseller/ Distributor · 13 October 2020Neova delivers peat to Biobränslekompaniet which produces round bales of peat litter. The product has the same format as silage bales and is approved for KRAV (organic) herds. Round bales are produced in Gävle and transported throughout Sweden.
• Neova Oy (Parent Company)coreOthersNeova AB is a subsidiary of Finnish Neova Oy. The parent company owns 51% by the Finnish state and 49% by a consortium of Finnish municipal energy companies. Parent company develops and manufactures peat extraction machines.
• TorvForskcoreStrategic or Co-development PartnerResearch foundation established on Neova's initiative to support and coordinate peat research. Research focuses on energy, cultivation, environmental, and nature conservation areas.
• Svenska Torvproducentföreningen (STPF)coreStrategic or Co-development PartnerSwedish Peat Producers Association that Neova actively participates in, along with other industry organizations.
• International Peat Society (IPS)minorStrategic or Co-development PartnerInternational organization for peat research and industry collaboration that Neova is actively involved in.
• Svenska Bioenergiföreningen (SVEBIO)minorStrategic or Co-development PartnerSwedish Bioenergy Association that Neova actively collaborates with for industry advocacy and research.
• BärfrämjandetminorStrategic or Co-development PartnerAdvisory organization for berry growing, operated by the berry section within LRF Trädgård. Promotes Swedish berries and tunnel cultivation with peat-based soil to replace imported berries.
• Svenska SkogsplantorcoreChannel Partner/ Reseller/ DistributorSweden's largest plant producer growing 125 million plants annually. Uses Neova's peat for growing forest seedlings for reforestation.
• Holmen Frö och PlantcoreChannel Partner/ Reseller/ DistributorProduces 40 million forest plants annually across two nurseries. Uses Neova's peat as the substrate for seedling cultivation.
• Södra SkogsplantorcoreChannel Partner/ Reseller/ DistributorProduces 40 million forest plants per year. Uses Neova's high-quality peat as the only substrate with the right properties for quality plant cultivation.

Scale indicators6 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Pindstrup Mosebrug: Danish peat harvesting and growing media producer founded in 1908, supplying peat substrates for horticulture and agriculture across Europe. Directly comparable to Neova in core peat extraction, substrate processing, and customer segments including professional growers and forestry nurseries.
• Klasmann-Deilmann: German-based leading producer of growing media including peat, coir, and wood fiber substrates for horticulture worldwide. Directly comparable as a vertically integrated peat extraction and growing media company serving professional growers across Europe.
• Sun Gro Horticulture: Canadian producer and distributor of peat-based growing media and professional horticulture substrates across North America. Comparable in peat harvesting, substrate formulation, and supply to professional nursery and greenhouse customers.
• Bord na Móna: Irish state-owned peat company historically extracting peat for energy and horticulture, now transitioning to biomass and renewables. Comparable in peat harvesting, energy peat use, and horticulture substrates; an instructive parallel for ESG transition risk facing Neova.
• Premier Tech: Canadian manufacturer of peat-based growing media and horticultural products serving professional and consumer markets globally. Directly comparable in peat-based substrate production and professional grower customer segments.
• Lambert Peat Moss: Canadian peat harvesting company producing peat moss and growing media for horticultural and agricultural markets. Comparable in raw peat extraction and processing for professional substrate customers.

Broad incumbents

• Neova Oy: Finnish parent company of Neova AB, owning the broader Neova Group including peat, growing media, and gardening brands across Finland, Sweden, and Estonia. Same core business vertically but operates at a wider geographic and product scope including Kekkilä and Hasselfors Garden.
• Kekkilä Oy: Finnish sister company under Neova Group producing professional and consumer growing media, substrates, and garden products across Europe. Comparable in peat substrate manufacturing and horticultural customer base, but operates as a wider brand portfolio rather than focused peat extraction.
• Hasselfors Garden: Swedish sister company under Neova Group selling gardening soil, substrates, and growing media products to consumer and professional markets. Comparable peat substrate product line but positioned toward consumer gardening rather than industrial peat production.

Regional players

• AS Tootsi Turvas: Estonian peat producer and sister company under Neova Group, harvesting and processing peat for energy and horticulture markets in the Baltics. Same business model as Neova AB but operating in a different geographic market, making it a regional rather than direct Swedish competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

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Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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 Neova