Swedish startup Capture Energy's revenues surge to 300% amid strong demand

When Johan Hedström and Morten Hagen founded Capture Energy in February 2023, their initial goal was to build a financing tool for large container batteries in Northern Europe. But a lack of suitable suppliers forced the pair to pivot.

“We originally started as a tool for the Nordic energy company Brix Energy, but quickly realised other firms liked our idea too,” says Hedström, who's the co-founder and CMO.

A full-service model in a fragmented market

Capture Energy builds and installs large battery systems that store renewable energy – like solar and wind power – so it can be used when demand is high or supply is low. The company handles everything from designing and connecting the batteries to the grid, to managing how the stored energy is used and sold.

“The market is full of aggregators and partial suppliers," Hedström explains. "For a company investing in its first battery, it’s almost impossible to navigate. We simplify the entire process and take responsibility from start to finish."

That approach has clearly resonated. Alongside its founders, the company’s ownership includes Brix Energy and Orvelin Group, while its customers range from wind and solar energy developers to large industrial players. What started with one-megawatt systems for small industrial clients has evolved into projects between 40 and 70 megawatts.

From startup to scaleup

Capture Energy posted a net turnover of €4.5m in 2023. A year later, that figure had more than quadrupled to €18m.

Hedström attributes the company’s rapid growth to a deliberate decision to bring in seasoned professionals early on – including a PhD in battery chemistry and several veterans from large-scale battery factories.

“We chose early to hire senior people with deep knowledge of the energy market. It meant higher costs, but it allowed us to reach customers from day one,” he says.

The company also swung from a loss of €120,000 in 2023 to a profit of €1.4m in 2024.

Expanding across Europe

Headquartered in Gothenburg, Capture Energy has grown from a two-person team to around 40 employees and 10 consultants. In addition to its Swedish offices in Luleå and Stockholm, it now operates in Norway, Denmark, Finland, and Spain.

“We’ve invested heavily in Finland, which we see as a really exciting emerging market, and we’re now focusing strongly on Spain ahead of its BESS market opening up in 2026,” Hedström says.

To accelerate its next phase of growth, Capture Energy recently appointed Niklas Tjäder as CEO. Tjäder previously held senior roles at HR-tech firm Benify and fintech company Juni.

“We’ve proven that our concept works in the Nordics. Now Niklas will take us to the next level. He has the experience, networks, and commercial muscle to scale properly across Europe,” Hedström says.

Next stop: Continental Europe

Capture Energy plans to expand into three more European countries next year, with Italy and Germany high on the list.

“The goal is to keep growing while staying profitable. We believe a multi-market strategy is the best way to secure our business,” Hedström adds.