As floods sweep Europe, flood-tech firm Noaq sees demand surge: 'We're not ashamed'

Climate adaptation solutions – innovations we need when extreme heat, wildfires and flooding strike – are gaining increasing interest among both entrepreneurs and investors.

"It's clearly under-invested when climate change is already here, the effects are already here and particularly affecting the most vulnerable," Arturo Benito, co-founder and CEO of Impact Bridge in Madrid, told Impact Loop when we reported on the topic.

One company that has seen demand spike because of extreme weather is Noaq Flood Protection, based in Västernorrland in northern Sweden. They produce a lightweight, mobile flood barrier.

Turnover shot up 78 per cent to €5.24 million. From scraping by with a profit of just €728 the previous year, Noaq posted a healthy €318,500 in 2024.

Whilst Europe's climate-fuelled deluges may have marked a turning point, CEO Douglas Hellström is quick to point out that the flood defence market reaches far beyond the continent.

"Floods threaten communities everywhere," he tells Impact Loop.

In 2024 alone, the company delivered 51 kilometres of its barriers – nearly double the previous year's output.

Riding the wave

With extreme weather events becoming more frequent and floods striking broader regions, demand for climate adaptation tech like Noaq's is only expected to grow. But what's it like building a business that profits from catastrophe?

"We are, without doubt, a climate adaptation company," says founder and majority shareholder Sigurd Melin, who first developed the technology 30 years ago.

"In English, there's a clear distinction: climate mitigation is about cutting emissions. Climate adaptation is about shielding people from the effects we can't avoid. Noaq is firmly in that second camp."

Hellström adds: "We're not ashamed of making money by saving lives. Profit is what enables us to scale – and help more people. We've even baked a 'world-improvement goal' into our strategy, alongside the usual growth and margin targets."

Profit is what enables us to scale – and help more people

From councils to corporations

The company's customers today are mostly in the public sector – local authorities and emergency services. But that's starting to shift. Demand is growing among industrial operators, retail parks, and large enterprises.

"And not to forget, private homeowners are also using our barriers to protect their homes and belongings," says Hellström.

'We see strong growth ahead'

So what makes Noaq's tech stand out? For Melin, it's all about simplicity and speed.

"Our barriers weigh less than one per cent of an equivalent sandbag embankment – and they're 100 times quicker to deploy," he says.

As competition begins to emerge, Noaq sees this as validation of the market it helped pioneer. With a team of just 11, the company is quietly ambitious about what comes next.

"Mobile flood defences are becoming a category in their own right," says Hellström. "And we intend to lead this new, fast-growing industry. We see strong growth ahead."