SeaTwirl AB
Have updates for this profile? Please contribute data
= Subscriber Access Only
You are viewing a preview of this profile. Request a Preqin Pro demo for full access to all profiles and underlying data.
With Preqin Pro, you gain an unobstructed view of all alternative asset class activity across institutional investors, fund managers, funds, portfolio companies, deals, exits, and service providers.
SeaTwirl AB - overview
Established
2012
Location
Gothenburg, Västra Götaland County, Sweden
Primary Industry
Renewable Energy
About
Based in Gothenburg, Sweden, SeaTwirl AB specializes in the development of innovative floating vertical-axis wind turbines for offshore energy solutions, emphasizing sustainability and efficiency in renewable energy generation. Founded in 2012 in Gothenburg, Sweden, SeaTwirl AB focuses on producing floating vertical-axis wind turbines for deep-water applications. The company has undergone strategic developments to enhance its product offerings in the renewable energy sector. In September 2025, SeaTwirl AB received EUR 15 million in grant funding from new investor Horizon Europe.
SeaTwirl specializes in the development and manufacturing of innovative floating vertical-axis wind turbines designed for deep-water offshore environments. Their core product offerings include the S3, S2x, S1. 5, and S1 turbines, which cater to various applications such as wind farms, electrification of offshore assets, and energy solutions for remote locations. The S3 turbine has a rated power of 4-6 MW, while the S2x, currently under development, is rated at 1 MW.
The S1. 5 turbine targets smaller power demands with a capacity of 200-400 kW. These products are particularly suited for markets where electricity generation is primarily dependent on diesel generators, offering a cleaner alternative and focusing on global markets, including Europe and North America. SeaTwirl generates revenue through the sale and deployment of its floating wind turbines, primarily engaging in B2B transactions with businesses seeking sustainable energy solutions.
Their business model includes collaboration agreements and partnerships for shared investments in turbine installations and operational maintenance. The pricing for their flagship products reflects their technological advancements and is customized according to client needs. SeaTwirl emphasizes the long-term benefits of investing in renewable energy infrastructure, positioning their products as essential components for various industries. In September 2025, SeaTwirl AB raised EUR 15 million in venture funding to support the design, construction, and deployment of new wind turbine models.
The company plans to expand its product line with upcoming innovations while targeting new markets for renewable energy solutions. Specific regions for expansion include areas with significant offshore wind potential, although exact dates for market entry are not detailed.
Primary Industry
Renewable Energy
Sub Industries
Wind Power
Website
www.seatwirl.com/
Total Amount Raised
Subscriber access only
SeaTwirl AB - financials
| Fiscal Year Ended | Aug 31, 2015 | Aug 31, 2016 | Aug 31, 2017 | Aug 31, 2018 | Aug 31, 2019 | Aug 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | - | 1,007,039 | - | - | 3,532,245 | - | 30,099,088 | - | - | - |
| % Revenue Growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| EBITDA (USD) | (917,041) | (1,823,549) | (3,215,504) | (4,933,732) | (7,506,459) | (7,096,758) | (15,050,091) | - | - | - |
| Operating Income (USD) | (917,041) | (1,823,549) | (3,224,989) | (4,960,398) | (7,535,201) | (7,125,500) | (15,114,603) | - | - | - |
| Operating Margin | - | (181.1%) | - | - | (213.3%) | - | (50.2%) | - | - | - |
| % EBITDA Margin | - | (181.1%) | - | - | (212.5%) | - | (50.0%) | - | - | - |
| NET Income (USD) | (934,488) | (1,840,910) | (3,238,182) | (4,973,496) | (7,549,731) | (7,185,790) | (15,600,850) | - | - | - |
| % Net Margin | - | (182.8%) | - | - | (213.7%) | - | (51.8%) | - | - | - |
Time to go Pro
Get Preqin Pro for unrestricted access to 600,000+ detailed profiles on fund managers, investors, funds, companies, and other alternative asset players. Unlock exclusive data on future plans, company financials, fundraising history, track records, and more.