Press release

Climeon’s HeatPower 300 System Installed in Global Shipping Leader’s Retrofit Initiative

First Retrofit Installation of Climeon’s HeatPower 300 Technology Completed
Climeon and a leading global shipping company have completed the first of two planned HeatPower 300 retrofit installations to enhance energy efficiency in container shipping. This marks an important step for Climeon in showcasing the benefits of its latest product generation, utilizing low-temperature waste heat recovery to reduce fuel consumption and emissions across the existing global fleet.

Enhancing Energy Efficiency with Minimal Operational Disruption
Initially announced in December 2023, the project was planned in coordination with the customer to ensure it did not disrupt the vessel’s regular operations. During routine dry docking in China last year, preparatory work was carried out, including modifications to the jacket cooling and steam systems, as well as electrical cabling, to facilitate the installation. The HeatPower system primarily utilizes waste heat from jacket cooling, enabling more stable and consistent power production over time. When excess steam is available, it can be used to further increase output, maximizing overall energy recovery and efficiency.

Modular Retrofit Completed During Scheduled Port Operations
The installation on the first of two vessels was completed in collaboration with the customer during scheduled port operations in Europe, reflecting the system’s modular design, which enables effective retrofitting. Final commissioning and testing are scheduled for Q2 2025 when the vessel returns to Europe.

Making Energy Efficiency Upgrades Accessible for Existing Ships

“This project showcases how waste heat recovery can be integrated into existing fleets to enhance energy efficiency with minimal operational impact,” said Fredrik Thoren, EVP and Head of Marine at Climeon. "Having worked with this customer for years, we are honored to be entrusted with this next step in demonstrating how low-temperature waste heat recovery can effectively reduce fuel consumption on board their existing fleet.”

Scaling Practical Solutions to Support Maritime Decarbonization
By integrating waste heat recovery technology into existing vessels, this initiative reinforces the potential for scalable energy efficiency improvements in the shipping industry. Climeon’s technology not only reduces fuel consumption but also supports cost-effective compliance with environmental regulations, helping to ease the transition toward decarbonization while optimizing fleet operations.

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.