Cascade Drives shares
Unlisted company
The technology and the rights
Cascade Drives' technology originates from the linear drive technology developed for wave energy converters by Patrik Möller and Stig Lundbäck, who founded the company in 2014. Cascade Drives owns the intellectual property rights to the cdGear technology for industrial applications, while CorPower Ocean has exclusive rights of use within the wave energy sector.
Revenue and three application areas
Revenue is generated through sales of electromechanical actuators and control systems to OEMs that integrate the products into their own machinery and vehicles. The company targets three application areas: electric power steering for heavy commercial vehicles through the TruEPS product, which provides mechanical steering, steer-by-wire and fully autonomous operation in the same system; electrification of loading arms in ports for handling liquid cargo such as LNG; and industrial actuators for material handling in applications including excavators, forklifts and container stackers. Compared with hydraulics, the technology offers 40–60 percent lower energy consumption, eliminates the risk of oil spills and enables energy recovery under negative loads.
Growth strategy
The growth strategy is organic and driven by the fact that electrification and autonomy in heavy vehicles and industrial machinery require a transition from hydraulic to electromechanical systems, as steer-by-wire and autonomous operation are not technically possible with hydraulics.
Technology and product
Patented cdGear technology for electromechanical linear force in heavy-duty applications
Replaces hydraulic cylinders with electric actuators
Two product lines: linear actuators and TruEPS power steering for heavy vehicles
Market and origins
B2B model with OEMs as customers in the vehicle, agriculture, loading arm and industrial sectors
Technological origins in CorPower Ocean, with exclusive rights outside marine energy
The electrification trend in heavy vehicles and machinery as a structural market driver
Financial performance
Published 11 September 2026Published figures from the company’s own reports. Amounts in MSEK · change from the previous year
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Net sales | 13(+104.5 %) | 6.1(+16.9 %) | 5.2(+1.7 %) | 5.2(+181.6 %) |
| Revenue growth | 104.5%(+87.6 pp) | 16.9%(+15.2 pp) | 1.7%(-180 pp) | 181.6% |
| EBITDA | -21 | -24 | -28 | -25 |
| EBIT | -23 | -25 | -29 | -26 |
| Net income | -26 | -25 | -28 | -24 |
| Equity | 44(+53.8 %) | 28(+239.3 %) | 8.3(-77.2 %) | 37(+989.4 %) |
| Cash and bank | 34(+92.9 %) | 18(+308.6 %) | 4.3(-86.6 %) | 32(+658.4 %) |
Documents and reports
4New share issues
Latest 1An overview of the company’s capital raising.
| Date | Capital raised | Valuation |
|---|---|---|
| SEK 450k | SEK 261m |
Questions about Cascade Drives
Is Cascade Drives publicly listed?
No, Cascade Drives is a public limited company, but it is not publicly listed. The company has not completed an IPO, and its shares are therefore not traded on a regulated stock exchange, but on the unlisted market.
What does Cascade Drives do?
Cascade Drives is a Swedish technology company that develops and manufactures electromechanical linear actuators designed to replace hydraulic cylinders in heavy-duty applications. The technology is used in vehicles, agricultural machinery, loading arms, and industrial processes, among other applications.
Can I buy shares in Cascade Drives?
Yes, it is possible to buy shares in Cascade Drives through trading in unlisted shares, provided there are sellers. Through Eqvor, you can place a buy order and be matched with sellers in the unlisted market.
How do I sell shares in Cascade Drives?
If you own shares in Cascade Drives, you can place a sell order via Eqvor and be matched with buyers. Once the transaction has been completed, the shares are transferred in accordance with the company's Euroclear-connected custody structure.
Is Cascade Drives affiliated with Euroclear?
Yes, Cascade Drives is affiliated with Euroclear. This means that the shares are handled within the Swedish securities system and can be delivered to a custody account with any bank or investment firm once the transaction has been completed.
Can I hold shares in Cascade Drives with Avanza or Nordnet?
Yes, since Cascade Drives is affiliated with Euroclear, the shares can normally be held in a custody account with, for example, Avanza or Nordnet, provided that the bank or online broker supports the custody of unlisted shares.
At what price is the Cascade Drives share traded?
Since Cascade Drives is not listed on a stock exchange, there is no official share price on a regulated marketplace. Instead, the price is determined by supply and demand among buyers and sellers in the unlisted market.
When will Cascade Drives be listed on the stock exchange?
There is currently no publicly announced timetable for a stock market listing of Cascade Drives. We therefore do not know when Cascade Drives may be listed or whether the company will carry out an IPO.
What is Cascade Drives' valuation?
Cascade Drives' market value is stated as SEK 187 million. Since the company is unlisted, there is no official stock market valuation from a regulated marketplace. Instead, the valuation is based on available transactions and trading in the unlisted market.
What are the risks of investing in Cascade Drives?
Investing in Cascade Drives involves risk, just like other investments in unlisted shares. The company’s valuation may be affected by technological development, commercialisation, capital requirements, customer agreements, production, and demand for electromechanical alternatives to hydraulics. Trading in unlisted shares also generally involves lower liquidity than trading in listed shares.
Where can I find Cascade Drives' annual report?
Cascade Drives' annual report can be found under Investor Relations and Financial Reports. The company's annual reports are available there for download.
Has Cascade Drives carried out any share issues?
Yes, Cascade Drives has conducted capital raises and previous new share issues. Cascade Drives Capital raised is stated as SEK 126.9 million, which shows how much capital the company has raised through previous financing.
How much capital has Cascade Drives raised in total?
Cascade Drives’ Capital raised is stated as SEK 126.9 million. An equity raise is the English term for raising capital, while Swedish most commonly uses terms equivalent to funding round, financing, or share issue.
Has Cascade Drives reported a profit or loss?
Cascade Drives reports a negative result in the latest available information. Under Key Figures, EBITDA is stated as -24,260 TSEK and net income as -25,396 TSEK. The company’s earnings development is also shown in the Results per Year graph.