Modvion is a Gothenburg-based wood technology deep tech scale-up developing modular wind turbine towers made from engineered wood. Founded on the vision of accelerating the transition to renewable energy and materials, the company is changing the future of the wind industry by replacing emissions-heavy steel and concrete with nature's own carbon fiber.

We spoke with Maria-Lina Hedlund, CEO of Modvion, to discuss how the Swedish deep tech is tackling the logistical and environmental challenges of building taller wind turbines, the wins and challenges of the company’s journey so far, as well as the benefits of their membership in EIC Scaling Club’s Renewable Energies market group. 

Wind power reimagined in wood

In the world of wind power, bigger is better. Taller turbines reach stronger, steadier winds, producing more energy at a lower cost. However, traditional steel and concrete towers not only struggle to reach these heights due to weight and logistical constraints, but they are also responsible for the majority of the industry's emissions.

This is where Modvion comes in. The company has developed a patented modular system using Laminated Veneer Lumber (LVL), which tackles the industry’s triple challenge of tower height, logistics, and environmental impact.

“Our secret sauce lies in using engineered wood that is stronger per weight and cost compared to steel and concrete. By building our towers in lightweight modules, we can transport even the tallest structures anywhere and assemble them on site,” Maria-Lina explains. 

The environmental impact is equally revolutionary. While steel production emits vast amounts of CO2, Modvion’s wooden towers act as carbon sinks, locking away more CO2 than they produce during manufacturing. 

The wood is sourced from the largest LVL suppliers in Europe, using Nordic spruce from sustainably managed forests where regrowth exceeds logging. The vision for these towers extends far beyond their 25- to 30-year operational life. Modvion views its towers as “vertical storages of building materials”. Once decommissioned, the wood can be cut up and reused as high-strength beams in the construction industry, ensuring the carbon remains locked away for centuries.

A team of technical and commercial experts

Making this vision a reality is a team of around 30 people with deep technical expertise and a proven ability to deliver commercially. Most are based in Gothenburg, where Modvion operates its own R&D factory and testing facilities.

Maria-Lina, who recently transitioned from CFO to CEO, brings a background in energy and business development from giants like Siemens. Co-founders Otto Lundman and David Olivegren provided the foundation – David developed the original concept and patents, while Otto led the company through its first decade before transitioning to strategic partnerships.

“Around this foundation, we have built a leadership team with a powerful mix of experiences, including people who led billion dollar portfolios in global renewables, people who have built new businesses from scratch and delivered complex technical projects from prototype to market launch This combination is central to our success and ability to scale,” says Maria-Lina. 

The company also benefits from a professional board and an advisory group that includes industry heavyweights like Ben Backwell, CEO of the Global Wind Energy Council.

Overcoming industry benchmarks

The journey hasn't been without its hurdles. Initially, the idea of wooden towers was met with skepticism. “When we started talking about using wood to build the tallest wind turbine towers, people didn’t really take it seriously,” Maria-Lina admits.

Another major challenge was certification. Most industry standards were written specifically for steel and concrete. Modvion had to conduct extensive testing to prove that wooden towers could meet and even exceed the industry’s highest standards. 

Today, among other significant successes, they have successfully received design conformity for both 2 MW and 6.4 MW turbine platforms. 

With a 105-meter commercial tower already operational and an investment from Vestas, the world’s largest wind turbine manufacturer, Modvion is ready for full-scale production.

The company recently reached a massive milestone, being selected for a €39 million grant from the EU Innovation Fund to establish serial production. As they enter this next phase, they are looking for partners to join them on the journey.

A valuable membership

Modvion joined the EIC Scaling Club to align with its international growth ambitions and solidify its position as a leader in the tall wind turbine market. For the company, this membership represents a significant mark of confidence in both its technology and its team.

Beyond the recognition, the Club provides Modvion with essential access to an ecosystem of mentors, partners, and investors, particularly those with experience in scaling industrial hardware.

“It provides access to a strong network of investors and partners, which we do see we need at this stage, especially those with experience in scaling industrial hardware. For us, it's a crucial time. We're moving from early stage to full scale production and commercial rollout – getting access to that ecosystem and support helps us ensure that we can do that efficiently and make the lasting impact that we want.”

About the EIC Scaling Club

The EIC Scaling Club is a curated community where 120 European deep tech scale-ups with the potential to build world-class businesses and solve major global challenges come together with investors, corporate innovators and other industry stakeholders to spur growth.

The top 120 European deep tech companies have been carefully selected from a pool of high-growth scale-ups that have benefitted from EIC financial schemes, other European and national innovation programmes, and beyond.

The EIC Scaling Club is an EIC-funded initiative run in partnership by Tech Tour, Bpifrance (EuroQuity), Hello Tomorrow, Tech.eu (Webrazzi), EurA and IESE Business School.

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