WindSim

WindSim

Offers a simulator for optimizing the energy production from wind turbines in Europe, Asia, Australia, and North America.

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NOK13.0m

Seed
Total Funding000k

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Revenues, earnings & profits over time
NOK20192020202120222023
Revenues00000000000000000000
% growth-90 %(61 %)(31 %)7 %
EBITDA00000000000000000000
Profit00000000000000000000
% profit margin(10 %)48 %(62 %)(99 %)(211 %)
EV00000000000000000000
EV / revenue00.0x00.0x00.0x00.0x00.0x
EV / EBITDA00.0x00.0x00.0x00.0x00.0x
R&D budget00000000000000000000

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WindSim AS operates as a specialized provider of software and consulting services for the global wind energy industry, focusing on enhancing the profitability of wind farm projects. The company was formally established in 2005 as a subsidiary of VECTOR AS, which became a holding company. The technology's origins trace back to 1998, when founder Arne Gravdahl (PhD) was tasked with creating the Norwegian Wind Atlas in collaboration with the Norwegian Meteorological Institute. This project necessitated the development of advanced Computational Fluid Dynamics (CFD) to accurately model wind conditions along Norway's complex coastline, forming the basis for the WindSim methodology.

The first commercial version of the WindSim software was launched in 2003 after years of internal use and testing. The company’s core business model revolves around licensing its sophisticated CFD software and providing expert consulting services. These services cover the entire project lifecycle, from initial site screening and measurement campaign design to optimized turbine placement, bankable annual energy production (AEP) assessments, and post-construction analysis. WindSim serves a diverse client base that includes wind farm developers, operators, equipment manufacturers, and consultants.

The primary product is its eponymous software, a powerful Wind Farm Design Tool that leverages CFD to deliver precise wind flow models. This enables clients to maximize energy output and minimize equipment loads, particularly in complex terrain where traditional linear models may fall short. In 2022, WindSim launched WindSim Accelerator, a cloud-based SaaS platform that significantly speeds up the computationally intensive wind field simulation process by running parallel calculations in the cloud. This hybrid desktop-cloud solution allows users to reduce simulation times by up to 90%, handle larger projects with higher resolution, and improve overall workflow efficiency. The company generates revenue through software subscriptions, which can range from three-month to perpetual licenses, and pay-per-project cloud simulations, supplemented by fees for its extensive suite of consulting and training services.

Keywords: wind farm design, computational fluid dynamics, wind resource assessment, AEP assessment, turbine siting, wind modeling software, renewable energy technology, wind energy consulting, site suitability, CFD simulation, energy production optimization, WindSim Accelerator, wind data analysis, offshore wind, onshore wind, wind flow modeling, project financing, micro-siting, cloud computing, SaaS

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