Defence-sector favourite files its first accounts

Startup company Stormborn has passed an important milestone and filed its first set of accounts.

The company posted a loss for the year of DKK 401,945.

For a new company, it is normal to be in the red in the first few years, and according to CEO and founder Frederik Søndergaard Hansen, the result and the company’s financial development are in line with expectations.

- The first result documents our activities, during which we have started production of our X-WAVE, he said, referring to Stormborn’s USV. “Of course, I am further ahead than these accounts show, because we have now completed our X-WAVE and are operating it.

Stormborn specialises in unmanned surface vessels, also known as USVs, one of the major emerging technologies in defence, security and emergency preparedness. Stormborn’s potential customers include both national armed forces and offshore companies.

Although the company is new, Stormborn already has strong industry backing in the form of major player Semco Maritime. It has also attracted attention from the Danish Armed Forces, which is currently examining the potential of autonomous units as part of its fleet plan.

Frederik Søndergaard Hansen also expects Stormborn to secure its first sale during the year and begin production at scale, which could put next year’s result into profit.

- Our expectations for this year, 2026, are that we will complete our first sales and start production at scale, he said.

- If we secure the first order this year, we should also be able to post a profit in the next financial year.

Production at scale is the goal

The partnership with Semco Maritime was one of the major events for Stormborn in 2025.

The partnership, which also involves the investment fund Final Frontier, is intended to accelerate both the construction of vessels and the associated control system. The engineering and contracting company is therefore a crucial partner for production of Stormborn’s USVs at scale.

Stormborn has also received support from the investment company EIFO.

Frederik Søndergaard Hansen cannot provide further details about the size of Semco’s financial contribution, but according to him, the partnership has more than purely financial value.

- Semco as a partner is much more than capital. They are a strategic partner in relation to the production at scale that we have planned and believe is necessary if this type of technology is to have an impact in the threat situation that Denmark and Europe face, he said.

- Having a partner on board that can unlock the scaling potential in our vessel design is essential.

According to him, everything is ready for production at scale.

How close are you to actual scaling?

- We are operationally ready. We have all the designs ready to scale up quickly, and we have all the partners in place. What we are really waiting for is direction from, for example, the Danish Armed Forces on whether capabilities such as ours are ones they consider necessary — and we believe they are — to what extent, and when they want to deploy them, he said, noting that interest is also coming from outside Denmark.

With the first accounts now in place, Frederik Søndergaard Hansen is looking to the rest of the year and to a target of rapid growth.

- We are planning our next funding round. That is also something we will launch in order to accelerate growth, because we believe it is important to scale quickly, especially in view of the threat environment and general foreign competition in this market. So we are planning for rapid growth.

Maritime drones come into focus

The war in Ukraine has significantly accelerated the development of drones, including USVs that operate on the water’s surface and can often be used for dual-use purposes. This means both civilian and military tasks, such as monitoring critical infrastructure.

As Søfart has previously reported, Danish companies and startups are also seeing rising interest in the new technology, and the Danish Maritime Authority is following developments closely.

For the authority, this is not just about keeping pace with new technology. It is also a question of Denmark’s international role.

- Maritime drones are part of being a maritime nation and flag state. This is one of the new technologies that will become increasingly important in the future, Brian Adrian Wessel, director of the Danish Maritime Authority, previously told.

The development of drones has also caught the attention of the new government.

In the government platform, Mette Frederiksen’s new administration states, for example, that the Danish Armed Forces must be “adapted to developments in warfare and new technologies. We must be able to defend ourselves against — and ourselves use — unmanned systems.”

Frederik Søndergaard Hansen also courted Danish politicians as recently as this year’s People’s Meeting on Bornholm. For a company such as his, that interest could prove decisive.

- For us, it is about helping to solve some of the tasks facing the Danish Armed Forces. Of course, no one works for free. We do not either. So we obviously need to have a healthy business, he said.

- Securing an order and getting started with the operational work means that we as a company can grow. It means we can build further with our investors, so that we are not building our company solely on an order from the Danish Armed Forces, but on an interaction with the potential in the private capital that can be used in industry.

After the end of the financial year, the company’s owners converted DKK 3 million of their loans to the company into equity. According to the accounts, this has a positive effect of DKK 3 million on equity.