Swedish hydropower startup SeaPattern has secured €5 million (50 million SEK) in private financing, led by Industrifonden. The round, joined by existing investors including Norrsken Launcher, brings the company’s total funding to more than €6.5 million (71 million SEK). At the same time, SeaPattern signed a memorandum of understanding with a European utility to explore future commercial offtake of its technology.
The funding will be used to scale operations as SeaPattern moves from field trials to industrialisation. Trials so far have taken place with Tekniska Verken at the Svartåfors hydropower plant. The company plans to deploy its first multiturbine cluster at the site to demonstrate a 7–10% increase in hydropower capacity at a cost four to five times lower than alternatives. The demonstration will also test its proprietary AI-enabled CFD software, designed to optimise turbine positioning.
Niklas Boman, founder and CEO of SeaPattern, said: “We’re proud to secure this investment, which demonstrates the market’s confidence in SeaPattern technology and provides a foundation for taking the next step towards bringing our solution to market and unlocking hydropower potential across European markets. SeaPattern’s journey to date and the progress our team has made over the past year – from successful field trials to this investment and commercial MOU – has been remarkable, and aligns with the pace at which Europe must engage in the energy transition.”
He added: “The addition of Industrifonden as a lead investor strengthen’s SeaPattern’s position substantially – their deep experience in the impact space brings invaluable perspective to our team, as we work with determination and focus to scale. In supporting the industrialization of our solution, this financing will enable demonstration of SeaPattern’s unique position to deliver clean, reliable and affordable energy without environmental harm – just what Europe needs, and exactly what SeaPattern is committed to delivering.”
Anna Ljungdahl, senior investment director at Industrifonden and SeaPattern board member, commented: “SeaPattern addresses one of Europe’s most pressing challenges: how to expand renewable energy without building new large-scale infrastructure. The company’s solution stands out for both its performance and scalability. What convinced us is not only the strength of the technology, but also a business model that turns hardware into recurring revenue. With Industrifonden’s experience in scaling deep tech ventures, we see strong potential for SeaPattern to become a key player in Europe’s energy transition.”
Anna Fredrixon, partner at Norrsken Launcher and board member of SeaPattern, said: “We’re proud to continue backing SeaPattern and to welcome new investors on board. Since first partnering with the founders Niklas and Marcus earlier this year, we’ve seen remarkable pace and execution, with commercial, technological, and team milestones delivered ahead of plan. The great market interest proves the need of unlocking more hydropower. We look forward to continuing working together to secure resilient and affordable energy for Europe.”
Ola Palmquist, hydropower business unit manager at Tekniska Verken, added: “Our collaboration with SeaPattern has demonstrated significant potential of their hydropower solution. The field trials at Svartåfors have consistently shown promising results, with no disruption to our existing operations. As we move forward, we’re excited to validate the complete solution’s full capability to enhance our plant’s capacity in a sustainable way.”
Boman said the company’s goal is to demonstrate that existing hydropower infrastructure can be enhanced without environmental compromise. He added that SeaPattern is expanding its team as it prepares for the next phase of development and aims to play a role in meeting Europe’s demand for clean, reliable and affordable energy.
