SeaPattern, an alumnus of the business incubator LEAD, develops a unique technology that increases energy output in existing hydroelectric power plants through advanced software, sensors, and smartly designed turbines. The technology makes it possible to harness the extra energy found in flowing water downstream, contributing to more sustainable and efficient electricity production.
“SeaPattern has quickly established itself as a promising player in renewable energy and offers a solution with great international potential. Our investment has helped accelerate their product and market development, and it feels natural to now hand over to new owners who can take the company further into its next expansion phase,” says Stefan Asplund, Investment Manager at LiU Invest.
The company has raised 50 million SEK to industrialize the technology, and the largest investor in the new share issue is the state-founded venture capital firm Industrifonden. For SeaPattern, the new share issue represents an opportunity to take the next step.
“We are very pleased with the important support we have received from LiU Invest during our first years. With new capital, we can now accelerate our expansion and move closer to the goal of revolutionizing energy extraction in the hydroelectric industry,” says Niklas Boman, CEO and co-founder of SeaPattern.
