Heat power for all

Climeon is a Swedish tech company focused on utilising geothermal heat and waste heat for power production on land and at sea. By the year 2050, they will have assisted in reducing global CO2emissions by 1% using geothermal solutions alone. This reduction is equivalent to the CO2 emissions from the annual electricity consumption of more than 69 million homes.


Other ways of generating renewable electricity include solar, wind, hydro-power and high-temp geothermal. Of these, wind and solar are intermittent, and hydropower and high-temp geothermal are only available in certain geographies.


Climeon’s goal is to make power production from geothermal and waste heat easily scalable almost anywhere in the world. The company uses a technology called ORC (Organic Rankine Cycle), a system that produces electricity from the pressure and temperature differences of cold and hot water streaming into the module.

In geothermal installations, the heat source is hot water from underground.In industries and in ships, exhaust gases, engine cooling water, and excess steam are used to generate electricity. The fact that it’s “always on” results in renewable base load power.

Climeon’s module is compact, stackable, scalable and cost-effective. Their modules are now in use on Viking Line’s ferries and Virgin Voyages’ ships. Geothermal plants are up and running inIceland and Japan, with drilling taking place in Taiwan and soon in the USA.

Together with partners, each contributing their own technology, they have designed a circular process that generates electricity from extremely efficient gas generator sets, then uses the waste heat to create more electricity, all while extracting and capturing CO2 to be used in other forms, e.g. as fertiliser.


Founded in: 2011
Founded by: Thomas Öström and Joachim Karthäuser
CEO: Lena Sundquist
Headquarters: Stockholm, Sweden
Employees 2020/2021:
Listed On Nasdaq Nordic Revenue 2019: 147 MSEK

Visit the website of Climeon at https://climeon.com/

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With the Sustainability report, we want to recognise companies that not only have a great innovation or solution that has a significant impact on lowering CO2 emissions, but also have put in place measures to scale and commercialise.

The companies in the report have been thoroughly researched by the Megadeals team through interviews with highly ranked profiles within the organisations.

The key principle is that only when the great sustainability innovations scale and commercialise they can create a deep impact and the world a better place.

Why is this important? We simply don't have time to wait.