01Invest in SeaTwirl
Financial overview
A consolidated picture of SeaTwirl’s financial position and performance – without having to open individual reports.
66.4 MSEK
Cash · Q3 2026
−14.9 MSEK
Profit/loss for the period · Q3 2026
75.6 MSEK
Equity · Q3 2026
52.8 %
Equity ratio · Q3 2026
Source: Interim report Q3 2026. The quarter’s result is charged with impairments and disposals of 13.6 MSEK, of development expenditure related to S2x and of capitalised patent costs, after the construction of S2x was postponed in favour of Verti-Go. The charge does not affect cash flow.
03Performance
Performance by quarter and full year
The cash position at each quarter-end and the profit/loss for the period, three years back. One quarter is marked, where something other than the operations replenished the cash: the EU grant to Verti-Go in 2025.
The chart requires JavaScript. The same data is shown in the table below.
Source: SeaTwirl’s interim reports and year-end reports.
| Key figure | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | 2025 | 2024 |
|---|---|---|---|---|---|---|---|
| Cash and cash equivalents, MSEK | 66.4 | 72.2 | 79.9 | 85.9 | 30.8 | 85.9 | 46.3 |
| Profit/loss for the period, MSEK | −14.9 | −5.1 | −4.1 | −17.2 | −4.2 | −30.7 | −18.4 |
04Targets & financing
Financial targets and financing
SeaTwirl is in the development phase without material revenue and therefore reports primarily on its financing strategy. The operations are financed through equity from share issues and through grants, of which EUR 15 million from Horizon Europe to the Verti-Go consortium is the largest. In September 2026 the Swedish Energy Agency approved the transfer of the remaining grant from the S2x project, just over 38 MSEK or more than three quarters of the original grant of 50.4 MSEK, to Verti-Go. On top of that come the company’s first revenues of its own: 0.8 MSEK in the first quarter of 2026, from a feasibility study on the electrification of a fish farm in Chile. The costs lie in the development and commercialisation phase and are capitalised on an ongoing basis as development expenditure.
The board of directors’ assessment in the 2025 annual report is that the company can finance the business plan for 2026 with available funds. The financial strategy has several strands. Continued grant financing is an important part of the plan to complete Verti-Go and secure operations during 2027 and beyond. Share issues to industrial and financial players are another strand, and the board of directors writes that they are to be carried out in a structured way and under the best possible conditions, not when the needs become acute.
SeaTwirl publishes no financial targets in figures. The only target with a date is Verti-Go. The project started on 1 October 2025 and runs until the end of 2029, and is to demonstrate the technology through the development, manufacture, installation and operation of a 2 MW floating wind turbine. The project has passed the Basic design milestone, and the documentation was submitted to the EU at the end of September 2026. The construction of the 1 MW turbine S2x is postponed until further notice.
Links
- [1] Back to the main site seatwirl.com/