Sweden Puts Its Bets on Green Tech
The country boasts some 3,500 clean technology companies that together book roughly $14 billion in revenues 
By Stanley Reed and Ariane Sains
Lake Trummen in southern Sweden used to be a polluted, weed-choked hodge-podge. Now, after a $14 million cleanup, bathers crowd its clear blue water in summer. Växjö, a incorporated town of 80,000 that sits on its shores, is vying to be the most environmentally pristine place in Sweden. The village’s car fleet is essential being converted to biogas, a clarified fuel based on methane, and a new biofuel body of factors has created 320 jobs. Växjö has divide its carbon dioxide emissions cut by a third over the past 15 years, and the town so much similar to channels leftover heat from the local crematorium into homes.
Swedish matter and political leaders think places like Växjö are upon to somebody. A few decades ago the country led the world in developing mobile technology through companies such in the same proportion that Ericsson (ERIC). Now, with telecom sales flattening, business and political leaders mean blooming technology could spark a new send out boom—crucial to Sweden, where exports account as being more than half of gross domestic product. "There is huge demand around the world for this technology," says Anders Brännström, president of Volvo Technology Transfer, a subsidiary of truck and bus maker Volvo (VOLVa.ST) that has invested through $20 million in clean tech companies.
While Denmark has wind monarch giant Vestas (VWS.CO) and Germany has a host of big outfits of that kind as Q-Cells (QCEG.DE) that make solar cells and panels, Sweden’s wholly tech sector is made up mostly of smaller companies. In Växjö, for instance, IV Produkt makes energy-efficient ventilation systems it exports to 15 countries, from Belgium to Ukraine. The company says the systems mean energy savings of 80%, profitable for themselves in about two years.
Going Like a SteamrollerSome 30% of IV’s $38.6 million in revenues came from exports last year, a number that is likely to hit 50% by 2012, says sales supervisor Björn Fredriksson. In a Bauhaus-like suburban research park outside Stockholm, a startup called TranSIC is cunning computer chips for the cogency systems of hybrid vehicles. And deep in the pine forests of Boden near the Arctic Circle, Swebo Bioenergy makes systems to burn manure and wood chips instead of heat.
The company, with close to $8 million in annual sales, says it is deluged with orders from the U.S. and Europe. "This is going approve a steamroller," says export manager Mattias Lindgren.
Sweden boasts some 3,500 clean tech companies that together book roughly $14 billion in revenues. Exports, which make up about a quarter of their overall sales, be in actual possession of grown 75% covering the last four years. To further boost the industry, the government is earmarking $590 very great number for environmental projects over the nearest two years, including $180 million to commercialize green tech. None other than King Carl XVI Gustav has become the green industry’s biggest promoter and fan: He heats his suburban Drottningholm Palace with wood pellets and drives himself to and from Stockholm in a dark blue Volvo C30 station wagon that runs on biofuel. Where possible, guide by light bulbs in the royal residences are being replaced with the energy-saving variety. He in like manner has a original car that runs upon inflammable air.
Original text: http://rss.businessweek.com/~r/bw_rss/europeindex/~3/513296260/gb20090115_287438.htm
