The company was founded in 2008 by the current CEO Gunnar Larsson. Its main technology is the PWR BLOK, which is based on the Stirling engine technology. The technology creates electricity using heat as a fuel source, while not depending on internal combustion. This has enabled the company to develop a product that uses the heat produced by the flaring of residual gases as a fuel source. From that, electricity is produced, which enables the customer to lower operating costs. It also means that the customer doesn’t need to purchase as much electricity from the grid, which in emerging markets often means less dependence on coal-fueled power.
Swedish Stirling, through its PWR BLOK equipment, has the opportunity to help the metal processing industry lower its electricity costs, while at the same time contributing to lower C02 emissions. Should this be successful, we think there are a wider range of industries that would be interested in the technology, given that it offers a lower cost compared with other clean-tech solutions.
The main risks are related to the product delivery, where delays could affect how customers view the technology. In addition, the metal processing industry is conservative, and sales cycles might be longer than expected. Competing technologies are also a risk.