GROWING GLOBAL INTEREST FOR HEATPOWER 300 IN THE MARITIME AND ENERGY SECTORS - FOLLOW-UP ORDER FROM NOVAALGOMA CEMENT CARRIERS
With tightening climate regulations and increasing demand for sustainable electricity, Climeon is experiencing growing global interest in its technology within the maritime and energy sectors. A new follow-up order from NovaAlgoma Cement Carriers and the commissioning of the first HeatPower 300 units onboard vessels further strengthen the company's position in sustainable shipping. The two HeatPower 300 units installed at NEO GROUP's PET production facility in Lithuania have been operating for a year, demonstrating the system's capability to efficiently produce sustainable electricity. A directed share issue has raised approximately SEK 30 million for Climeon.
APRIL - JUNE
- Order intake amounted to SEK 5.2 million (0.4).
- Net sales amounted to SEK 1.8 million (0.8) and were primarily attributable to delivery of HeatPower systems.
- Operating profit/loss amounted to SEK -20.6 million (-24.8).
- Profit/loss after financial items improved to SEK -20.2 million (-27.1).
- Earnings per share, before dilution, amounted to SEK -0.48 (-0.64).
- Cash flow from operating activities after changes in working capital improved to SEK -9.5 million (-10.9).
IMPORTANT EVENTS
- Climeon signed a second order worth EUR 0.5 million with NovaAlgoma Cement Carriers (NACC) for HeatPower 300 to be installed on an additional cement carrier. The vessel will be built at Zhejiang Xinle Shipbuilding Co. in China, with delivery expected in 2027.
- Climeon carried out the first planned commissionings of HeatPower 300 units onboard ships - one on an existing container vessel and one on the newly built container ship, Berlin, the first in A.P. Møller-Maersk's series of methanol-fueled vessels being built by Korean shipyard HD-HHI. Commissioning preparations have also been completed for the second vessel in the series, Beijing.
- Climeon completed the first annual service of the two HeatPower 300 units installed at NEO GROUP's PET production facility in Lithuania. Over the past year, the HeatPower 300 units have successfully produced sustainable electricity at the industrial site.
- Climeon conducted a directed share issue of 6,960,584 Class B shares, raising approximately SEK 30 million.
- Climeon held its Annual General Meeting, at which all proposals by the Nomination Committee and the Board of Directors were approved.
JANUARY - JUNE
- Order intake amounted to SEK 11.2 million (0.8).
- Net sales amounted to SEK 7.0 million (14.1).
- Order backlog amounted to SEK 17.2 million (18.5).
- Operating profit amounted to SEK -60.6 million (-48.5).
- Profit/loss after financial items amounted to SEK -63.5 million (-48.7).
- Earnings per share, before dilution, amounted to SEK -1.70 (-2.23).
- Cash flow from operating activities after changes in working capital amounted to SEK -18.9 million (-39.3) and total cash and cash equivalents amounted to SEK 26.4 million (26.3). In addition, restricted cash amounted to 2.8 million SEK for guarantees related to future customer deliveries that will be released with start Q3 2025. Thus, total cash and cash equivalents, including restricted funds, amounted to 29.2 million SEK.
EVENTS AFTER THE BALANCE SHEET DATE
No new events have been reported after the balance sheet date.
A WORD FROM OUR CEO:
CUSTOMER TRUST AND MORE HEATPOWER 300 UNITS IN OPERATION CONFIRM CLIMEON'S ROLE IN THE GREEN TRANSITION
Climeon's journey continues, even in a world marked by uncertainty. Over the past quarter, we have taken several important steps toward our vision of reducing global CO2 emissions-particularly in the maritime industry, where the transition to more energy-efficient and low-emission vessels is accelerating.
We are pleased to announce that during the quarter, we signed a follow-up order with NovaAlgoma Cement Carriers for a HeatPower 300 unit to be installed on the second sister ship in NACC's cement carrier series. This repeat order is a clear sign of the strong trust Climeon has built through its collaboration with the shipowner and shipyard-and a testament to how well our technology fits the current needs of the maritime industry.
The maritime industry continues to move toward increasingly efficient and environmentally friendly vessels. Many shipowners are investing in new, more efficient ships while phasing out older, less effective ones. A common feature of these new vessels is that they are designed to be as future-proof as possible, with strong fuel economy and low emissions. As a result, new environmentally friendly systems and technologies are being evaluated during the construction of these ships-and ORC technology, including Climeon's solutions, is increasingly being included in newbuild specifications. The majority of vessels of interest to Climeon are being built at Chinese shipyards. To strengthen our business opportunities in Asia, we visited several shipyards and shipowners in the region during the quarter. In addition, representatives from Climeon's sales agent in China received training at our headquarters and test center in Kista.
This quarter's commissioning of HeatPower 300 systems onboard both an existing container ship and Berlin-the first in a series of six Maersk-owned methanol-fueled container ships built by Hyundai in Korea-marks a key milestone for Climeon. These events confirm that our systems can be smoothly integrated into a variety of vessel types and generate electricity from onboard waste heat-whether installed on existing ships or new built ones.
Further confirmation of the HeatPower 300's performance and electricity production come from the scheduled and completed annual service of the two units installed at NEO GROUP's PET resin production facility in Lithuania. The units have now been operating for a full year, continuously delivering sustainable electricity to the site. NEO GROUP confirms that the system is delivering clear results, improving energy efficiency, and enabling them to reduce CO2 emissions in line with their long-term sustainability strategy.
In the industrial and energy markets, we are seeing strong growth in inquiries-particularly in Europe-related to engine-based power plants. One driver of this trend is the global rise in AI usage, which is generating significant demand for new power generation capacity to support the growing number of large-scale data centers.
This quarter also brought increased interest from investors, including industrial players who have expressed curiosity about Climeon, our next-generation technology, our strong international customer base, and our long-term potential. In May, we completed a directed share issue of approximately SEK 30 million. The capital enables continued growth, delivery, and further development of our technology. At the same time, we have strengthened our financial resilience by reducing costs to a significantly lower level than before, which has positively impacted our cash flow.
Although we are now in the middle of the Swedish summer, Climeon's work to secure new orders and ensure customer satisfaction continues without pause. We are deeply grateful for the trust you place in us and for your strong engagement in our mission and journey as a company. 2025 promises to be another exciting and high-activity year.
Lena Sundquist, CEO, Climeon
For full report, please see attached file below.
FOR MORE INFORMATION, PLEASE CONTACT:
Lena Sundquist, CEO, Climeon
+46 708 345 228
Lena.sundquist@climeon.com
About Climeon AB (publ)
Climeon is a Swedish product company operating within the energy technology sector. Climeon's proprietary technology, the Climeon HeatPower system, uses an Organic Rankine Cycle (ORC) process to convert low-temperature heat into clean, carbon free electricity. Providing access to dependable and cost-effective sustainable power, HeatPower enables industries to increase energy efficiency, decrease fuel consumption, and reduce emissions. As a non-weather-dependent source of green energy, HeatPower has the potential to diversify and safeguard the renewable energy mix and, therefore, accelerate the global transition to a net-zero future. Climeon's B shares are listed on the Nasdaq First North Premier Growth Market. FNCA Sweden AB is a Certified Adviser. Learn more at climeon.com.
This information is information that Climeon is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-07-11 07:35 CEST.
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Climeon Powering A Sustainable Future
Lena Sundquist, CEO, Climeon
