European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent research observatory tracking Europe’s listed growth companies.

Francesco Castellaneta, Full Professor of Strategy and Entrepreneurship, SKEMA Business School – Université Côte d’Azur (GREDEG) · Scientific Committee Diego Zunino and Jackie Krafft

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Annual rank30

Spain · Industrials

Arteche Lantegi Elkartea

Makes measurement, monitoring, automation and reliability systems for electricity transmission and distribution networks.

+47%revenue growth
FY2022–FY2025
+489%net-income growth
FY2022–FY2025
+509%stock return
FY2022–FY2025
+30%2026 stock return
current context only

Company profile

Measurement, automation and grid reliability from product to project

Arteche is a Basque electrical-equipment group serving the path from generation to the final grid user. It combines conventional and optical instrument transformers, medium-voltage sensors, relays and IEC 61850 automation with engineering, commissioning and training. Its grid-reliability work adds harmonic filters, capacitor banks, reclosers and flywheel storage, linking decades of measurement hardware to renewable integration, digital substations and critical power quality.

Products and technology

From 800 kV transformers to sampled values over fibre

Conventional high-voltage designs cover current, voltage, combined, oil-paper and gas-insulated transformers up to 800 kV. The passive SDO-OCT instead measures current optically without oil or gas, can handle AC or DC and feeds an SDO-MU. That merging unit converts the optical signal into IEC 61850 Sampled Values with precision-time synchronisation and redundant communications, bringing measurement directly into a digital-substation process bus.

Applications and customers

The same stack reaches substations, solar plants and wind farms

At Acciona's Puerto Libertad solar project in Mexico, saTECH automation connected plant substations to CENACE and the site SCADA, while smARTop capacitor banks supported grid-code work. At Brazos Repower in Fluvanna, Texas, Arteche supplied two 31 MVAr Type-C filters at 138 kV. At Statkraft's 55.2 MWp Talayuela II plant in Cáceres, PQ-Switch mitigates capacitor-bank switching transients.

Footprint and operating model

Local engineering and testing sit inside a four-continent network

Arteche says customers in more than 175 countries are served through over 80 technical-commercial offices. Its company directory reaches from Mungia and Vitoria-Gasteiz to Tepeji del Río, Curitiba, Dalian, Cikarang and Eveleigh. Seven R&D centres focus on digital monitoring, asset management, cybersecurity, direct current and harmonics. In Tepeji, a 19,000 m² capacity expansion includes production buildings and a high-voltage impulse laboratory that can reproduce transients up to 2,800 kV.

Strategy and growth

Expansion adds sensing, protection and fast grid support

The 2024–2026 plan targets new geographies, technologies and market segments. Arteche's recent moves include 100% of RTR Energía for power quality, 35% of Uptech Sensing for distributed fibre-optic monitoring, 100% of Germany's SEG for medium-voltage protection relays and a minority stake in Finland's Teraloop. Teraloop's flywheel system pairs magnetic-levitation, hubless storage with power electronics for sub-10-millisecond response in frequency and voltage support.

Current 2026 update

What is changing at Arteche Lantegi Elkartea in 2026?

Arteche is expanding three parts of the grid-equipment stack at once: manufacturing and HVDC testing, protection and optical sensing, and fast grid-reliability products for data centres, hydrogen projects and distribution networks.

Latest official evidence H1 capacity, automation and grid-reliability update Published 28 July 2026

The change in one sentence

Measurement and Monitoring capacity, digital control and fast grid support are expanding together.

Mungia is open while Dalian is under construction; SEG and minority-owned Uptech broaden protection and sensing; flywheel and recloser orders are growing, but integration and deployment evidence remain limited.

Four lenses on 2026

The same four-quadrant format used in the Company profile.

01 · Factory and testing

Mungia opens while the Dalian factory remains under construction

Arteche reports a 20% capacity increase within Measurement and Monitoring, shortening lead times for its most constrained product lines. It opened a Mungia plant for capacitive and optical measurement transformers and began building a new high-voltage instrument-transformer factory in Dalian, China; no production-start date is disclosed for Dalian. Arteche also upgraded Mungia's Ultra High Voltage Laboratory to carry out specific direct-current tests for HVDC projects, without disclosing test volumes or customers.

  • Current signal+20% Measurement and Monitoring capacity · Mungia open · Dalian building
  • Why it mattersArteche reports shorter lead times already while adding manufacturing, regional proximity and specialised testing; the China production ramp and further lead-time gains remain to be evidenced.
  • H1 capacity, automation and reliability update Arteche · 2026-07-28
  • Dalian factory construction Arteche · 2026-04-30

02 · Protection and sensing

SEG relays and Uptech sensing move Arteche deeper into automation

Arteche acquired 100% of German relay maker SEG, which brings medium-voltage protection products, more than 350 customers, a German production site and commercial hubs in the United States, Poland and the Middle East. The acquisition was valued at EUR 50.6 million and is intended to strengthen DACH and data-centre reach; Arteche discloses no realised cross-selling or integration synergy. Separately, its 35% stake in Uptech Sensing adds distributed fibre-optic sensing and smart infrastructure monitoring without making Uptech a wholly controlled business.

03 · Grid reliability

Data-centre flywheel orders and Brazil recloser frameworks lift Grid Reliability

Arteche says Grid Reliability order intake rose 21.4%, driven by green-hydrogen projects, data-centre solutions using flywheels and framework agreements for reclosers in Brazil that strengthened backlog for H2. Its Teraloop flywheel page says the system can deliver full nominal power in under 10 milliseconds and maintain output for dozens of minutes. The 21.4% is order-intake growth; the response and duration figures are product specifications, not measured project results. Arteche names no data-centre customer, commissioned flywheel deployment or delivered Brazil volume.

04 · What to watch

Three questions for the next disclosures

Three questions track whether factories, acquired capabilities and Grid Reliability orders become operating scale.

  • Factory rampWhen does Dalian start production, and do constrained product lead times continue to shorten after Mungia's expansion?
  • Automation integrationDoes Arteche disclose SEG and Uptech cross-selling, integrated products or named data-centre wins?
  • Reliability deploymentDo flywheel, green-hydrogen and Brazil recloser orders become named deployments, deliveries or repeat frameworks?

Annual record

Ranking history

Future editions add rows; they do not rewrite the 2026 record.

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY202530+47%+489%+509%