icon/20/arrow/link-internal/ Back to News

Skawen ramps up European expansion with new funding

27/04/2022

Founded in 2018, Skawen with its HQ in Stockholm is a cleantech company that has quickly grown into a scaleup. The company is on a mission to optimise energy recovery with smart and efficient ventilation solutions for mainly large complex buildings, creating healthy indoor air in the process. Having recently closed their first funding round, they are now well en route to ramping up their European expansion plans.

“We are thrilled and proud of the response from the European market. We have doubled our sales every year since our founding, and in 2022 we see even faster growth. This growth has given Skawen attention on the market and new sales distributors are joining continuously. Global events like the climate crises, energy dependency, and pandemic have certainly helped us by putting energy savings and clean air on the agenda” commented Skawen’s CEO and co-founder Sten Mogard.

There exists a delicate balance when dealing with indoor air. Smart technology solutions are needed to reduce energy consumption, while simultaneously improving indoor air quality, without having a negative climate impact. Skawen essentially manufactures the heart and brain of the ventilation system to ensure not only optimised energy recovery but also cost savings for their customers.

“Our customers greatly value our innovative products with features such as lightweight casing design, flat-pack shipping combined with a powerful design & quotation tool. Clearly, we are doing something right, as even large competitors want to negotiate with us on developing white label products for them. Next on our product roadmap is launching thermodynamic software, air purifiers, acoustic attenuation, and IIoT-related software including a design for the data center industry.” Mogard gladly continued.

50% of Europe's energy is consumed by heating and cooling of buildings, with the Heating, Ventilation and Air Conditioning market in Europe being valued at EUR 57 billion in 2020. Legislators are taking action to combat this massive energy usage. For example the European Commission instated construction and building retrofit energy-saving regulations. And megatrends such as urbanisation and smart cities call for buildings to be energy efficient and greener all around.

“Skawens dedicated team with extensive industry experience, coupled with their strong R&D expertise and steady sales traction is why we believe Skawen will be a market pioneer in this traditional industry. We are happy to be a part of Skawen’s journey and look forward to supporting them even further as they grow” stated Katalysen Ventures CEO and founder Peter Almberg.

Having achieved successful bootstrapped growth, the raised funding positions the company well for ramping up European sales efforts with new signed sales distributors in Austria and Spain. It also kickstarts both new software and hardware product development, and the expansion of their production facilities in Estonia to meet growing customer demand. Skawen forecasts to break-even already in early 2023. You can meet Skawen and the team at Ecosummit Berlin 23-24 June 2022!

For additional information:
Sten Mogard
CEO, Skawen
+46 702 263 293
sten.mogard@skawen.com
https://skawen.com/

Skawen

Latest from Katalysen

More News
Investor Relations Plus