OX2 AB
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OX2 AB - overview
Established
2004
Location
Stockholm, -, Sweden
Primary Industry
Renewable Energy
About
Based in Sweden, OX2 AB is a renewable energy company focused on developing sustainable solutions, specializing in wind power, solar energy, and energy storage to meet the growing demand for clean energy alternatives. Founded in 2004, OX2 AB operates as a renewable energy developer with a focus on wind and solar power projects. The company is headquartered in Stockholm, Sweden. Paul Stormoen currently serves as CEO.
In June 2020, Altor acquired a 30% minority stake in OX2 AB from Peas Industries AB, financial terms were not disclosed. OX2 specializes in providing renewable energy solutions focusing on onshore and offshore wind power, solar power, and energy storage. These solutions are tailored for residential, commercial, and industrial sectors across multiple geographical markets, including Sweden, Finland, and Poland, promoting a sustainable energy ecosystem and contributing to the reduction of carbon emissions. In the most recent financial year, 2023, OX2 reported a revenue of USD 207.
8 mn and an EBITDA of USD 0. 5 mn. The revenue model is centered around long-term power purchase agreements (PPAs) with a diverse client base, including governments and utility companies. OX2 plans to expand its product offerings with new renewable energy solutions aimed at enhancing efficiency and sustainability.
The company is targeting geographical expansion into new European markets by 2025. The funding received from the recent deal will facilitate these initiatives, allowing OX2 to bolster its project development capabilities and continue addressing the increasing demand for renewable energy.
Primary Industry
Renewable Energy
Sub Industries
Waste Management, Waste to Energy, Wind Power, Solar Power, Biomass
Website
www.ox2.com/
Verticals
Clean Technology
Total Amount Raised
Subscriber access only
OX2 AB - timeline of key events
OX2 AB - financials
| Fiscal Year Ended | Dec 31, 2011 | Dec 31, 2012 | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 503,522,000 | 484,746,000 | 457,695,000 | 1,803,006,000 | 300,771,909 | 281,318,690 | 2,152,503,000 | 4,135,513,000 | 4,906,177,000 | 5,200,778,000 | - | - | - |
| % Revenue Growth (YoY) | - | (3.7%) | (5.6%) | 293.9% | (83.3%) | (6.5%) | 665.1% | 92.1% | 18.6% | 6.0% | - | - | - |
| EBITDA (USD) | 39,773,000 | 72,718,000 | 48,737,000 | 62,216,000 | 33,490,338 | 57,981,145 | 240,742,000 | 363,079,000 | 382,397,000 | 431,062,000 | - | - | - |
| Operating Income (USD) | 35,585,000 | 67,841,000 | 44,355,000 | 56,662,000 | 33,091,641 | 57,801,876 | 240,276,000 | 362,580,000 | 371,131,000 | 415,841,000 | - | - | - |
| Operating Margin | 7.1% | 14.0% | 9.7% | 3.1% | 11.0% | 20.5% | 11.2% | 8.8% | 7.6% | 8.0% | - | - | - |
| % EBITDA Margin | 7.9% | 15.0% | 10.6% | 3.5% | 11.1% | 20.6% | 11.2% | 8.8% | 7.8% | 8.3% | - | - | - |
| NET Income (USD) | 40,517,000 | 59,395,000 | 49,478,000 | 67,965,000 | 99,955,571 | 18,133,974 | 50,290,000 | 102,121,000 | 157,507,000 | 298,110,000 | - | - | - |
| % Net Margin | 8.0% | 12.3% | 10.8% | 3.8% | 33.2% | 6.4% | 2.3% | 2.5% | 3.2% | 5.7% | - | - | - |
OX2 AB - employee data
OX2 AB - key contacts
| Name | Position | Start Date | End Date | Vcard | Bio | ||
|---|---|---|---|---|---|---|---|
| Member of the Shareholder´s Nomination Board | BM |
BM Board Member
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