Clear River Racing

What Clear River Racing does

Clear River Racing is a non-profit student association (ideell förening, org.nr 202100-3120) based at Karlstad University in Sweden, founded in 2007 following faculty advisor Göran Karlsson's visit to the Silverstone Formula Student competition. The organization designs, manufactures, and races a fully electric Formula Student single-seat race car annually, competing internationally at events including Silverstone (UK), FSSwitzerland, FSEast (Hungary), and FSAA (Croatia). Its core technical scope spans high-voltage battery systems with custom Battery Management System (BMS) and Vehicle Control Unit (VCU) software, space-frame chassis design, composite aerodynamics (carbon fiber monocoque and bodywork), custom PCB design for tractive system and low-voltage electronics, and CNC-manufactured components developed in a university-provided workshop equipped with CNC machines, lathes, mills, welding, 3D printers, and a crash test rig. Approximately 30+ students across engineering, economics, and marketing disciplines contribute ~26,000–52,000 hours per annual build cycle, and participants can earn 15 HP academic credits (MSGC54 – Fordonskonstruktion).

The organization's business model is entirely sponsorship-driven, with no commercial product sales. Revenue comes from tiered corporate partnerships (Platinum, Gold, Silver, Bronze, Copper, Iron) with industrial firms such as Sandvik Coromant (main sponsor), SKF, Uddeholm, Saab, AVL, Holotech, Marström Composite, Ansys, Altium, AMKmotion, and Ecotron — who contribute cash, materials, manufacturing capacity, and software licenses. A second revenue stream is the IN-Dagen career fair, organized annually by Clear River Racing at Karlstad University and attracting 40+ corporate exhibitors at tiered booth prices ranging from 13,000 SEK (Zone D) to 17,500 SEK (Zone A), with a Plus-paket upgrade at +50%. A third program, Formula Solcell, extends the mission into K-12 STEM outreach through solar-powered model car competitions. Distribution of the team's "product" (the annual car and student experience) occurs through international Formula Student competitions, public release ceremonies at Aula Magna, university open days, and the IN-Dagen event. The team has operated continuously since 2008, placed 3rd at Baltic Open in 2010, hosted Baltic Open in 2011, finished 3rd at Silverstone in 2017, and received Karlstad University's Samverkanspriset (Collaboration Award) in 2022.

Name

Clear River Racing

Legal name

Clear River Racing

Website

https://clearriverracing.se

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Formula Student Racing

NAICS

Sports Teams and Clubs (711211)

SIC

Services-Racing, Including Track Operation (7948)

akta.pro primary industry

Motorsports Support & Feeder Series (Developmental Championships) (MPAKAGAH)

akta.pro secondary industries

Motorsports Series & Championships (Sanctioned Racing Calendars) (MPAKAGAA), Motorsport Event Promoters & Race Organizers (MPAKADAE)

Keywords

• Formula Student racing
• Electric race car design
• Student engineering project
• Career fair organization
• STEM education outreach

Headquarters

HQ city

Karlstad

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Sponsorship & Partnership Revenue: Clear River Racing is entirely funded by corporate sponsors who provide financial support, materials, manufacturing capabilities, software licenses, and equipment. The team offers partner packages at varying tiers (Platinum, Gold, Silver, Bronze, Copper, Iron) plus IN-Dagen booth sponsorship, in exchange for brand visibility, access to talent, and collaborative engineering outcomes.
2. IN-Dagen Career Fair Revenue: Clear River Racing organizes and hosts the annual IN-Dagen career fair at Karlstad University, charging exhibitor booth fees (Zone A: 17,500 SEK, Zone B: 15,000 SEK, Zone D: 13,000 SEK) to participating companies. Plus-paket upgrades are available at 50% additional cost.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Clear River Racing is a non-profit student association at Karlstad University that designs and builds a fully electric Formula Student race car from scratch every year, competing internationally at events such as Silverstone, FS Switzerland, FS East, and FSAA. Each annual car (e.g., CRR25, CRR26, upcoming CRR27) is developed by 30+ student members who collectively invest approximately 52,000 hours across mechanical, electrical, software, composite, and chassis engineering, with funding provided entirely through tiered corporate sponsorships. The organization additionally operates the IN-dagen career fair (Karlstad University's main engineering/science recruiting event with 40+ exhibitors) and the Formula Solcell youth outreach program.

Product overview

Clear River Racing operates as a single-product-focused organization whose core offering is the annually designed and built CRR Formula Student electric race car. In addition to the car, the team delivers the IN-dagen career fair (an annual event serving as a key engagement touchpoint for the organization) and the Formula Solcell youth outreach program (where middle school students build and compete with solar-powered cars). All offerings are student-driven and supported by corporate sponsors; there is no platform-plus-modules architecture — the portfolio consists of the car as the primary product, accompanied by two programs that extend the organization's educational and community mission.

Differentiator

Problem solved

Functional benefit

Products and services

• CRR Formula Student Electric Race Car A fully electric, single-seat Formula Student race car designed and built from scratch each year by 30+ student team members at Karlstad University, incorporating a custom Battery Management System, programmable Vehicle Control Unit, in-house PCBs, a steel space-frame chassis, composite aerodynamics, and an AMKmotion-driven electric powertrain. Competed internationally at Formula Student events such as Silverstone, FS Switzerland, FS East, and FSAA. Not sold commercially; produced as the team's annual engineering project and competition entry.
• IN-dagen Career Fair

Quantifiable outcome

• ~52,000 hours of student engineering work per annual car build cycle
• +3 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

33 partnerships are on record, tiered core, major and supporting.

• Sandvik CoromantcoreTechnology or Integration · 1 January 2008Main sponsor and flagship partner. Sandvik Coromant is a world-leading supplier of tools and tool solutions to the metalworking industry with 8,000 employees in 130 countries. They provide the team with manufacturing capabilities, design reviews, and CNC tooling, helping produce complex chassis and suspension components. The partnership includes direct visits to Sandvik facilities for team training and part manufacturing.
• SKFcoreTechnology or IntegrationLong-standing high-level sponsor providing quality bearing and motion control products that are integrated into the Formula Student cars. SKF explicitly supports Formula Student as an initiative that develops the next generation of engineers.
• UddeholmmajorTechnology or IntegrationWorld's leading manufacturer of tool steel for industrial tools. Provides material and manufacturing support for tool steel components used in the car build.
• AVLmajorTechnology or IntegrationGlobal technology provider offering simulation, virtualization, and test automation for product development, including ADAS/AD and vehicle software. Supports the team's simulation and development capabilities.
• Holotech CAD/CAM ABmajorTechnology or IntegrationProvides Esprit Edge CAM software, support, and training to the team. Holotech has been a long-term sponsor supporting future engineers in CAM and manufacturing technology.
• SaabmajorTechnology or IntegrationGlobal defense and security company serving markets with world-leading products, services, and solutions across military defense and civil security domains. Supports the team as a sponsor.
• Marström Composite ABmajorTechnology or IntegrationSpecializes in design, development, and manufacture of composite details — from carbon fiber masts for sailboats to medical equipment and wind turbine blades. Provides composite manufacturing expertise and materials for the car's carbon fiber monocoque and aerodynamic components.
• LasertechmajorTechnology or Integration3D printing, laser welding, and machining services provider. Prints and manufactures custom components for the team including brake caliper adapters and other precision parts.
• SimScalemajorTechnology or IntegrationProvides cloud-based simulation software (CFD, FEA) used by the team for aerodynamic simulations and structural analysis of car components.
• AnsysmajorTechnology or IntegrationEngineering simulation software provider used for CFD analysis of aerodynamic packages and structural simulations of chassis and suspension components.
• AltiummajorTechnology or IntegrationProvides PCB design software licenses for designing custom circuit boards used in the car's electronic control systems.
• EcotronmajorTechnology or IntegrationElectric drivetrain technology provider supporting the team's EV development with expertise and components.
• PartnertechmajorTechnology or IntegrationTechnology company providing manufacturing and innovation support for the team.
• AMKmotionmajorTechnology or IntegrationMotor and inverter supplier for the electric powertrain, providing the traction motor system for the Formula Student car.
• DiabsupportingTechnology or IntegrationProvides composite core materials (foam and structural core) used in sandwich panel construction for the car's chassis and aerodynamic components.
• Luni MetallsupportingTechnology or IntegrationSteel tube supplier providing material for the space-frame chassis. The team visits Luni Metall to collect laser-cut chassis tubes.
• Bergs MekaniskasupportingTechnology or IntegrationWater jet cutting and precision machining services for chassis and suspension components.
• HANZAsupportingTechnology or IntegrationManufacturing cluster providing laser cutting and bending services. The team visited HANZA to collect laser-cut material and observe the inauguration of new bending and punching lines.
• IndustrimekanosupportingTechnology or IntegrationTube bending services for roll hoops and other precision-bent chassis components.
• NorelemsupportingTechnology or IntegrationStandard component supplier providing fasteners, mounting hardware, and standard engineering components used throughout the car build.
• BendersupportingTechnology or IntegrationProvides safety monitoring circuit boards that check insulation resistance between the chassis ground and tractive system, integrated into the car's safety shutdown system.
• Huber SuhnersupportingTechnology or IntegrationHigh-voltage cable systems provider for the electric drivetrain's wiring harness.
• CirclabsupportingTechnology or IntegrationProvides lamination tooling and manufacturing support for composite components. The team picked up lamination molds from Circlab.
• Karlstad MakerssupportingTechnology or IntegrationLocal maker space providing CNC milling access and collaboration for manufacturing components including aerodynamic endplates and custom tooling.
• EO StalsupportingTechnology or IntegrationSteel material supplier supporting the chassis build with steel products.
• RejlerssupportingGTM or Marketing PartnerEngineering consultancy and one of the participating companies at IN-Dagen career fair. Supports the team as a partner and recruiting employer.
• ExsitecsupportingGTM or Marketing PartnerTechnology and business solutions company participating at IN-Dagen as an exhibitor.
• CombitechsupportingGTM or Marketing PartnerTechnical consulting firm participating at IN-Dagen as an exhibitor and partner.
• KongsbergsupportingGTM or Marketing PartnerHigh-technology systems supplier participating at IN-Dagen career fair.
• TrelleborgsupportingTechnology or IntegrationTire and sealing solutions provider supporting the team.
• Momentum IndustrialsupportingTechnology or IntegrationIndustrial component supplier providing materials for the car build.
• Karlstads Universitet (Karlstad University)coreStrategic or Co-development PartnerHost institution providing workshop facilities, academic supervision, course credits (MSGC54), crash test rig, and institutional legitimacy. The university owns and operates the project's infrastructure and provides the organizational umbrella under which Clear River Racing operates as a student association. Karlstad University also co-organizes Formula Solcell with the team.
• Chalmers Formula StudentsupportingStrategic or Co-development PartnerFellow Swedish Formula Student team that visited Clear River Racing to use their crash-rig, demonstrating inter-team collaboration and knowledge sharing within the Swedish Formula Student community.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Market position

Competitive moat4 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/clearriverracing
• LinkedInlinkedin.com/company/clear-river-racing

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 Clear River Racing