Climeon has begun establishing a subsidiary in Taiwan. The purpose is to further strengthen Climeon’s local presence and develop the company’s business in the area.
“Together with Japan and Iceland, Taiwan is one of our highest prioritized geographical markets for geothermal heat power. Now that we have done the groundwork and won a first order in Taiwan, it is a good time to establish a subsidiary and take the next step,” says Thomas Öström, CEO of Climeon.
Climeon has together with Baseload Capital worked actively in Taiwan since the beginning of 2019 to establish collaborations with local businesses, landowners and local authorities. In May 2020, Climeon won its first order within geothermal in Taiwan, worth approximately $4.5 million. Now, Climeon is taking the next step by starting the registration and establishment of a subsidiary in the country.
“The customers are our highest priority and thus it is also there, closest to the customers and the business, that the organization should grow,” continues Öström.
Ruben Havsed, former head of geothermal sales, has been appointed country manager of Climeon Taiwan.
Taiwan, like Japan and the west coast of the U.S., is located in the “ring of fire”, an arcuate area along the Pacific Ocean coastal areas, which is known for high seismological activity and thereby also great resources of geothermal energy. Despite this, there are few active commercial geothermal power plants in the country. The greatest potential for extraction of geothermal energy is found along the eastern and northern coasts of Taiwan.