Best Energy Companies in Finland
The 291 best Energy companies in Finland in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Ilmatar.
Finland's Energy sector produces real capital at real scale. Our directory tracks 291 companies with $819M in total disclosed funding, and the concentration at the top is striking: Ilmatar alone accounts for $244M, Fortum follows at $115M, and Neste rounds out the upper tier at $102M. So what does that tell you? That this isn't a cottage industry of pilot projects. It's a market where committed capital is funding grid-scale ambitions, with solar electricity generation, EV battery technology, and distributed energy resources driving the thematic heat right now.
The broader momentum backs that read. Energy app installs are running at roughly +28% YoY growth across 138 tracked applications, a signal that digital infrastructure around energy management is compounding fast alongside the physical build-out. Investors haven't missed it: Europa, Tesi, and the EIC Fund are among the most active backers in this directory, and the Enel North America and Arcus Power partnership on advanced energy management shows how seriously global operators are treating this space. Meanwhile, Asia's $30B pledge in energy mineral deals signals the geopolitical tailwinds lifting the whole sector. No unicorns yet in Finland. But the funding structure suggests that gap won't hold forever.
- International grid edge study reveals countries needs and readiness f
Our analysis of 441 Energy companies
$135.1b in tracked funding; 76% of the stack-profiled cohort runs cloud-native; funding activity peaked in 2025.
Ranked: Best Energy companies in Finland
| # | Company | Disclosed funding | Last round | Employees | Founder | Tech stack | Web popularity | Patents & IP focus | Recent signals |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Ilmatar Developer of wind energy projects | $244M | 31 mo ago | 85 | Kalle Pykala Co-Founder & Chairman | — | — | — | — |
| 2 | WinWinD Wind Turbine manufacturing company | $174M | 212 mo ago | 130 | — | — | — | 50 patents Wind turbine structural designs and blade pitch control mechanisms | — |
| 3 | Fortum Provider of clean energy solutions | $115M | 11 mo ago | 8,785 8,785 → 5,175 (-41%) | Markus Rauramo CEO | Apple iCloud MailMicrosoft 365Node.js+17 | Top 100k | 14 patents Advanced boiler combustion control and oxygen-enriched combustion technologies for power generation | — |
| 4 | Neste Manufacturer of renewable diesel, sustainable aviation fuel, and feedstocks | $102M | 47 mo ago | 5,297 5,297 → 4,506 (-15%) | Matti Lehmus President and CEO | ContentfulNode.jsSalesforce+15 | Top 1M | 90 patents Renewable paraffin waxes and bio‑based lubricants from microbial oil processing | — |
| 5 | Fintoil Manufacturer of wood pulp process for oil and gas industries | $83M | 59 mo ago | 30 | — | WordPressMySQLPHP+19 | Top 10M | — | — |
| 6 | Ren-Gas Developer of solar and wind energy projects | $26M | 6 mo ago | 9 | Saara Kujala CEO | WordPressMySQLPHP+8 | Top 50M | — | 1 award |
| 7 | Steady Energy Provider of nuclear engineering solutions to introduce zero-emission heating plants | $13M | 11 mo ago | — | Hannes Haapalahti Co-Founder | WebflowGSAPLinkedin Insight Tag+13 | Top 10M | 14 patents Advanced nuclear reactor fuel handling, control rod switching, and passive safety systems. | 1 launch |
| 8 | Chempolis Technology developer for papermaking fiber and cellulosic ethanol | $11M | 115 mo ago | 37 | Tomi Honkala CEO | WordPressApple iCloud MailMicrosoft 365+17 | Top 50M | 125 patents Lignin extraction, purification, pulp bleaching, and lignin‑based resin manufacturing | — |
| 9 | Green Fuel Nordic Provider of educational resources on electric vehicles | $9M | 81 mo ago | 21 | Timo Saarelainen CEO | — | — | — | — |
| 10 | Aurelia Turbines Manufacturer of gas turbines | $8M | 45 mo ago | 21 | — | NginxOpenRestyMicrosoft Advertising+12 | Top 50M | 27 patents Advanced multi‑spool gas turbine cooling, blade design, and control systems | 2 partnerships |
| 11 | Ductor Sustainable biogas and fertilizer solutions from organic waste, promoting circular economy | $6M | 36 mo ago | 70 | Bernard Fenner CEO | WordPressMySQLPHP+17 | Top 50M | 57 patents Ammonia stripping and nutrient recovery technologies for biogas plant waste streams | — |
| 12 | Vensum Power Developer of software-defined power converters for efficient and reliable energy solutions | $4M | 36 mo ago | 6 | Peter Nisula CEO & Managing Director | — | — | 24 patents Patents concentrated in electrical & electronics | — |
| 13 | Inray Developer of bio-energy projects | $3M | 36 mo ago | 6 | — | — | — | 16 patents Solid fuel feed control systems for combustion boilers and furnaces | — |
| 14 | Sumitomo SHI FW Supplier and installer of Circulating Fluidized Bed (CFB) steam generating units | $3M | 59 mo ago | 1,800 | — | SalesforceYouTubePlyr+11 | Top 5M | 383 patents Advanced monitoring and control of fluidized‑bed combustion boilers and reactors. | 1 launch |
| 15 | Gasek Wood chips CHP Plants | $3M | 60 mo ago | 5 | Kauko Vainamo CEO | — | — | 46 patents Solid fuel co‑current gasification systems and activated carbon production technologies | — |
| 16 | Volta Local Energy Provider of investment and maintenance the geothermal system | $3M | 31 mo ago | 7 | — | SanityTurbopackNode.js+11 | Top 50M | — | — |
| 17 | Green NortH2 Energy Oil and gas exploration and production company | $2M | 42 mo ago | — | Jussi Ylinen Managing Director | — | — | — | — |
| 18 | Lekatech Provider of electronic technology | $2M | 41 mo ago | 10 | — | — | — | 28 patents Linear electric machines and percussion hammer actuators with integrated braking systems | — |
| 19 | Enersense Provider of lifecycle services for energy, industrial, and telecommunications infrastructure | $2M | 67 mo ago | 1,911 | — | WordPressMySQLPHP+21 | Top 10M | — | 2 awards |
| 20 | GreenEnergy Finland Solar project developer | $1M | 119 mo ago | 6 | — | PythonDjangoBootstrap+10 | Top 5M | — | — |
| 21 | Moventas Offers repair and O&M services for wind turbine gearbox systems | $784K | 77 mo ago | — | Arto Lahtela CEO | — | — | 71 patents Planetary gearboxes and condition monitoring systems for wind turbine drivetrain efficiency | — |
| 22 | Ledistys Manufacturer of LED lamps | $762K | 103 mo ago | 14 | Ossi Karsikas Founder & CEO | WordPressMySQLPHP+26 | Top 50M | 2 patents LED lighting fixtures and luminaire design | — |
| 23 | Finrenes Provider of biowaste-to-energy process design and technology | $575K | 60 mo ago | 3 | Petteri Salonen CEO | — | — | — | — |
| 24 | Hytrade Hytrade | We accelerate the energy transition | $513K | 25 mo ago | — | Jukka-Pekka Häkli Founder and COO | — | — | — | — |
| 25 | Adven Energy efficiency solutions, biofuel based heating solutions | $481K | 80 mo ago | 520 | — | Cart FunctionalityWordPressApple iCloud Mail+28 | Top 5M | — | — |
| 26 | Plugit Provider of electric car charging services | $391K | 80 mo ago | 61 | Tommi Saarela CEO | WordPressApple iCloud MailMicrosoft 365+25 | Top 5M | — | 1 expansion |
| 27 | Finnenergia Provider of energy management and real estate condition inspection services | $182K | 129 mo ago | — | — | — | — | — | — |
| 28 | Luxmet Manufacturer of temperature monitoring and control systems | $175K | 119 mo ago | 10 | Mikko Jokinen Managing Director | — | — | 5 patents Patents concentrated in computing, sensing & instrumentation | — |
| 29 | Prometec Provider of biomass quality control service | $174K | 100 mo ago | — | Juha Huotari CEO | WordPressMySQLPHP+36 | Top 50M | 2 patents Determining energy content of fuels or materials through analytical measurement methods. | — |
| 30 | Kapacity.io Manufacturer of LED lighting system and electricity consumption services | $125K | 57 mo ago | 8 | Jaakko Rauhala Co-founder & CEO | WebflowHubSpotcore-js+13 | Top 5M | — | — |
| 31 | Valtavalo Retailer of home furnishings and interior decor | $109K | 87 mo ago | 14 | Markku Laatikainen Co-Founder & CEO | WordPressMySQLPHP+24 | Top 50M | 5 patents LED lighting fixtures and retrofit tubes for fluorescent systems | — |
Top 12 Energy companies in Finland
#1
Public · Espoo, Uusimaa · founded 1998 · 8785 employees$114.8Mraised▾
Provider of clean energy solutions. The company offers electricity generation and heat production, electricity retail sales, district heating and cooling, and services for smart living. It also provides power trading services for energy-intensive industries and products and services for nuclear and thermal power plants. The company focuses on decarbonization and a transition to a carbon-neutral economy. Its offerings support industrial electrification and aim to meet customer needs for reliable energy.
- Jul 2025Grant (prize money)$99.1M
- Dec 2021Grant (prize money)$11.3M
- Jul 2021Grant (prize money)$265.7K
- Nov 2020Post IPO—
#2
Series B · Espoo, Uusimaa · founded 2021 · 9 employees$26.2Mraised▾
Developer of solar and wind energy projects
- Dec 2025Series B$18.8M
- Dec 2022Series B$26.2M
#3
Series C · Espoo, Uusimaa · founded 2023$13.1Mraised▾
Provider of nuclear engineering solutions to introduce zero-emission heating plants
- Jul 2025Series C$37.6M
- Mar 2025Series B$23.2M
- Mar 2024Series A$10.9M
- Jun 2023Seed$2.2M
#4
Late Stage · Helsinki, Uusimaa · founded 2011 · 85 employees$244Mraised▾
Operator of an energy company aimed at producing and selling renewable energy to consumers and businesses. The company specializes in the development, construction management, operational asset management and retail sales of renewable energy by operating wind farms, enabling clients to get a clean source of energy.
#5
Public · Espoo, Uusimaa · founded 2017 · 5297 employees$102.2Mraised▾
Manufacturer of renewable diesel, sustainable aviation fuel, and feedstocks. It refines waste, residues, and other raw materials into renewable fuels. The company provides solutions for mitigating climate change and accelerating a shift to a circular economy. It offers career opportunities for professionals with diverse backgrounds and expertise.
- Jul 2022Grant (prize money)—
- Nov 2021Grant (prize money)$99.9M
- Apr 2020Grant (prize money)$165.7K
- Jan 2020Grant (prize money)$199.7K
#6
Funding Raised · Helsinki, Uusimaa · founded 2017 · 30 employees$83.4Mraised▾
Manufacturer of wood pulp process for oil and gas industries
- Jun 2021Conventional Debt$83.4M
#7
Acquired · Espoo, Uusimaa · founded 2000 · 130 employees$174Mraised▾
WinWinD is a wind turbine manufacturer that has manufactured and supplied wind turbines with a capacity of 1 and 3 MW. The company has assembly factories in Hamina, Finland, and Chennai, India. WinWinD turbines are sold globally and they produce energy in Sweden, Estonia, France, Portugal, the Czech Republic and India. The company was acquired by SIVA Group in 2006 and later Masdar acquired 40% in 2008.Finnish investment fund, Suomen Teollisuussijoitus also has significant stake in the company.
- Sep 2008PE$174M
#8
Series C · Helsinki, Uusimaa · founded 2009 · 70 employees$6.3Mraised▾
Sustainable biogas and fertilizer solutions from organic waste, promoting circular economy. The company provides solutions addressing environmental challenges in energy and agriculture, transforming waste into sustainable organic fertilizers and renewable biogas energy. They build, own, and operate facilities, repurposing organic resources for carbon-reduced fertilizers and renewable energy. The company focuses on sustainability, offering products and services in the energy and fertilizer sectors. They are dedicated to a circular future, promoting fairness, honesty, integrity, identification, and cooperativeness. They are always looking for new talents to join the family. They are an Equal Opportunity Employer.
- May 2023Series C—
- Oct 2020Series B—
- Jul 2018Grant (prize money)$1.7M
- Dec 2017Series A—
#9
Series A · Lappeenranta, South Karelia · founded 2013 · 21 employees$8.1Mraised▾
Aurelia Turbines manufactures gas turbines for small and medium size industrial processes. The turbines are built for multiple applications such as CHP, steam process, O&G and others. Aurelia also builds and sells microturbine-based small-scale power plants. Their turbines are energy efficient when compared to market standards as per the company claims.
- Aug 2022Grant (prize money)$50.1K
- Oct 2020Grant (prize money)$939.6K
- Sep 2019Grant (prize money)$2.5M
- Mar 2018Series A$4.5M
#10
Seed · Helsinki, Uusimaa · founded 2020 · 7 employees$2.6Mraised▾
Provider of investment and maintenance the geothermal system
#11
Seed · Espoo, Uusimaa · founded 2018 · 6 employees$4.1Mraised▾
Developer of software-defined power converters for efficient and reliable energy solutions. These converters adapt to changing conditions, optimizing power conversion processes. The technology enables flexible control over output voltages and current levels. The converters are suitable for applications including solar panels, electric vehicles, and smart grids. The company’s technology simplifies maintenance with remote diagnostics and troubleshooting capabilities.
- May 2023Seed$4.1M
- May 2023Conventional Debt$1.8M
#12
Funding Raised · Mikkeli, South Savo · founded 2009 · 6 employees$2.8Mraised▾
Developer of measurement systems for sawmills and power plants. The company offers measurement systems based on X-radiation technology that provides actionable measurement data on humidity, moisture, contaminant and energy content as well as other related factors, enabling clients to reduce cost and gain feedback through measurement systems.
- 2023Grant (prize money)$56.6K
- Sep 2018Grant (prize money)$1.4M
- Oct 2016Grant (prize money)$1.3M
- Oct 2014Grant (prize money)$63.1K
Funding & investor landscape
Notable founders
Market landscape — 10 sub-themes by coverage
Share of Energy coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
How research on Grid Energy Storage is moving in Finland
A read on the academic research around Grid Energy Storage — which themes are gaining ground, the institutions and researchers driving them, and how the tone is shifting. Based on 218 Finland-affiliated papers.
- Aalto University73
- Lappeenranta-Lahti University of Technology54
- Tampere University24
- University of Oulu22
- University of Vaasa16
- Renewable energy1→8
- Electricity1→4
- Renewable energy39
- Battery (electricity)28
- Electricity19
- Photovoltaic system15
- Power (physics)13
- Renewable energy11
- Battery (electricity)6
- Environmental economics4
- Electrical engineering3
- Electric vehicle3
Where energy storage is researched across Finland
Location clusters by institution affiliation — each city's volume, stance tone, and a quick read on its hot topic, what's advancing, the opening opportunity, and the main concern.
Common questions
Riya reads income statements for fun. She covers the real money in a sector — revenue, growth, who actually earns — and never met a vague claim she didn't want a number for.