Power Tech Sweden AB

Background

Established in 2012, Power Tech Sweden AB specializes in developing and delivering comprehensive electrical and hybrid propulsion solutions for the marine industry. The company's mission is to provide innovative, efficient, and environmentally friendly energy solutions that enhance maritime operations. By integrating proprietary technologies with suitable motors, drivers, and energy storage systems, Power Tech Sweden aims to lead the transition towards sustainable marine propulsion.

Key Strategic Focus

Power Tech Sweden's strategic focus centers on the electrification and automation of marine vessels. The company offers a range of products and services, including energy storage systems, propulsion packages, diesel-electric systems, chargers, microgrid inverters, and variable speed inverters. These solutions are designed to meet the highest standards of economic and environmental performance, targeting the maritime sector's growing demand for sustainable and efficient propulsion systems.

Financials and Funding

As of the fiscal year ending April 30, 2024, Power Tech Sweden reported a turnover of approximately 37.7 million SEK, with a net loss of 133,000 SEK. The company employs 16 individuals and is registered for F-tax and VAT. Specific details regarding funding rounds and notable investors are not publicly disclosed.

Pipeline Development

Power Tech Sweden has successfully developed and delivered a series of marine hybrid installations, including associated charging stations and onboard chargers. Notable projects include collaborations with ZEM and Echandia Marin, where the company provided complete control systems, power supply, and cabinet construction. The company continues to focus on advancing its product offerings to meet the evolving needs of the maritime industry.

Technological Platform and Innovation

Power Tech Sweden distinguishes itself through its proprietary Energy Management System (EMS), which optimizes energy distribution and consumption onboard vessels. The company also produces DC Link Cabinets and Inverter Cabinets in-house, ensuring high-quality standards and flexibility in design. Additionally, Power Tech Sweden offers variable speed inverters ranging from 1.5 to 900 kW, catering to diverse propulsion requirements.

Leadership Team

The leadership team at Power Tech Sweden comprises experienced professionals dedicated to driving the company's mission:

Johan Marcusson: Chief Executive Officer (CEO)

Örjan Backman: Chairman of the Board

Per-Erik Larsson: Board Member

Emil Backman: Board Member

Elin Backman: Board Member

These individuals bring a wealth of experience in electrical engineering, marine technology, and business management, positioning the company for continued growth and innovation.

Leadership Changes

In 2025, Power Tech Sweden announced a merger with METS Technology AB to form Metstech AB. This strategic move aims to enhance the company's capabilities in electrification and automation within the marine and industrial sectors. Johan Marcusson has been appointed as the CEO of the newly formed Metstech AB.

Competitor Profile

Market Insights and Dynamics

The maritime industry's shift towards sustainable and efficient propulsion systems has led to increased demand for electric and hybrid solutions. This trend is driven by stringent environmental regulations and the need for cost-effective operations.

Competitor Analysis

Key competitors in the marine electrification sector include:

Northvolt: A Swedish company specializing in battery manufacturing, Northvolt focuses on producing sustainable lithium-ion batteries for various applications, including marine propulsion.

Sydkraft: A subsidiary of Uniper, Sydkraft is involved in the generation of thermal, nuclear, and hydro power, contributing to the energy solutions available for marine applications.

These companies, along with others in the sector, contribute to a competitive landscape where innovation and sustainability are key differentiators.

Strategic Collaborations and Partnerships

Power Tech Sweden has engaged in significant collaborations to strengthen its market position:

Maritime Battery Forum: In June 2024, Power Tech Sweden joined the Maritime Battery Forum, a global network dedicated to promoting safe and sustainable maritime battery solutions. This membership aims to enhance the company's competence in batteries and hybrid systems while staying updated with the latest technologies and innovations.

Merger with METS Technology AB: The merger with METS Technology AB to form Metstech AB combines expertise and resources, positioning the company as a leader in marine and industrial electrification, energy storage, electrical design, and automation.

Operational Insights

Power Tech Sweden's in-house production capabilities, including the manufacturing of Energy Management Systems, DC Link Cabinets, and Inverter Cabinets, provide a competitive advantage by ensuring quality control and flexibility in meeting customer requirements. The company's focus on integrating proprietary technologies with suitable components allows for tailored solutions that address the specific needs of the maritime industry.

Strategic Opportunities and Future Directions

The formation of Metstech AB opens new avenues for growth and innovation. The combined expertise of Power Tech Sweden and METS Technology AB enables the development of advanced solutions in marine and industrial electrification, energy storage, and automation. The company is well-positioned to capitalize on the increasing demand for sustainable and efficient propulsion systems, leveraging its technological capabilities and strategic partnerships to drive future success.