Four Swedish companies given the opportunity to grow in India
The Swedish Energy Agency’s India-Sweden Innovations’ Accelerator (ISIA) has, for 13 years, supported Swedish companies with ambitions to expand into the Indian market. Now, four new companies are welcomed into the programme.
India is undergoing rapid development and has implemented a series of reforms that have contributed to the country’s growth. There is a strong demand for sustainable solutions that can be quickly scaled up, offering excellent opportunities for Swedish companies with innovations in this field.
During spring 2025, the Swedish Energy Agency invited companies to apply for the programme, and it is now confirmed that four new companies have been accepted.
“We are pleased to welcome four new companies to ISIA. These companies operate in areas ranging from environmentally friendly rocket fuel and electrified marine transport to monitoring systems for district heating and cooling,” says Edgar Darbinyan, Business Developer for International Markets at the Swedish Energy Agency.
The aim of the programme is to promote collaboration between India and Sweden in the fields of new energy and renewable energy technology. Since its inception in 2012, ISIA has introduced over 70 Swedish companies to the Indian market and enabled more than 300 commercial partnerships.
The New Companies
The newly accepted companies join European Composting Systems, KRAHN Specialty Fluids, Liquid Wind Magstrom, Plexigrid, and Sticky Solar Power.
Candela
Candela develops electric boats and ferries using hydrofoil technology that combines long range with high speed. Their innovative hydrofoil system reduces energy consumption by 80 percent, resulting in efficient, quiet, and fast vessels. Operating costs are significantly lower compared to conventional boats, supporting the transition to more sustainable transport.
ECAPS
ECAPS specialises in the production of advanced rocket engines and non-toxic, environmentally friendly propulsion systems (rocket fuels) for satellites and spacecraft. Their flagship product, LMP-103S, offers higher performance while significantly reducing risks compared to conventional hydrazine, resulting in lower handling costs and increased efficiency.
Pipeguard
Pipeguard provides comprehensive monitoring systems for district heating and cooling networks. Pipeguard also offers battery-powered flow measurement and installation during production without interruption. For older networks or those lacking other measurement functions, Pipeguard’s Sonitus concept enables vibration monitoring by converting vibrations into sound.
X Shore
X Shore manufactures fully electric boats that reduce emissions, noise, and maintenance. Thanks to their electric propulsion systems and sustainable design, the boats require minimal maintenance, eliminating the need for oil changes and servicing of fuel and exhaust systems. X Shore’s product range covers both leisure and professional markets, including port services, fishing, water taxis, diving operators, and marine safety.