Climeon

Climeon, a Swedish publicly listed energy technology company, was established in 2011 by co-founders Thomas Öström and Joachim Karthäuser. Öström, a serial entrepreneur in climate tech with a Master's in Computer Science, was driven by a passion to address climate change by harnessing wasted energy. His background includes over a decade at high-tech electronics firm Micronic AB, where he was vice president for technology development. The company operates on a direct sales model, supplemented by local partners in select geographical markets, and generates revenue through the sale of its HeatPower systems, spare parts, and related services.

Climeon's core business revolves around its HeatPower system, which converts low-temperature waste heat and geothermal energy into clean electricity. This technology is based on the Organic Rankine Cycle (ORC) process, which uses an organic fluid with a lower boiling point than water. In a closed-loop system, heat vaporizes this fluid into a pressurized gas that drives a turbine to generate electricity. The system is designed to operate autonomously, automatically adjusting to variations in heat and cooling sources to maximize efficiency. Climeon offers the HeatPower 300, a modular unit producing up to 355 kW, which can be scaled for greater output. The company also provides Climeon Live, a cloud-based platform for remote performance monitoring and management.

The company targets energy-intensive industries with significant waste heat production, including the maritime, industrial manufacturing, and geothermal power sectors across Europe, North America, and Asia. In the maritime industry, where over 50% of fuel energy is lost as heat, the HeatPower system can be retrofitted or installed on new builds to reduce fuel consumption and emissions. Notable clients in this sector include Virgin Voyages, Maersk, and Viking Line. For geothermal applications, the technology taps into low-temperature geothermal heat, and for industrial clients, it captures waste heat from manufacturing processes. By turning this otherwise wasted thermal energy into a valuable asset, Climeon helps clients reduce operational costs, comply with environmental regulations, and enhance energy efficiency.

Since its founding, Climeon has achieved several key milestones. In 2015, it received the "Technology Innovation Award" from Frost & Sullivan. By 2019, Mission Innovation recognized Climeon as one of the top 100 solutions with significant potential to reduce carbon dioxide emissions. The same year, it attracted investment from Breakthrough Energy Ventures, a fund backed by prominent technology entrepreneurs. In August 2021, Lena Sundquist, with extensive experience from Alfa Laval and as CEO of Kivra Sweden, was appointed CEO of Climeon. Under her leadership, the company launched the next generation HeatPower 300 in 2022.

Keywords: waste heat recovery, Organic Rankine Cycle, geothermal energy, maritime energy efficiency, clean electricity, low-temperature heat, industrial energy savings, sustainable power, carbon emissions reduction, energy technology