Board and management team

Born 1961. Chairman of the board since 2021 and board member since 2020.

Per Wassén has a master’s degree in engineering from Chalmers University of Technology and a master’s degree in economics from the School of Economics at the University of Gothenburg. Per Wassén has previously been Investment Director at Volvo Group Venture Capital AB, chairman of the board and managing director of Powercell Sweden AB (publ) and board member of AWA Sweden AB.

Ongoing other assignments: Board member and managing director of Wé Corporations AB. Board member of Impact Coatings AB (publ), Hexatronic Group AB, GU Ventures AB and member of the Royal Swedish Academy of Sciences.

Holdings in the Company: 25,000 B shares, 20,000 warrants of series TO2, and 20,000 warrants of series 2023/2026:2.

Independence: Independence in relation to the company and company management as well as in relation to the company’s major shareholders.

Born 1955. Board member since 2019.

Bo Westerberg has a master’s degree in mechanical engineering/industrial economics from the Royal Institute of Technology. Bo Westerberg has 40 years of experience from leading positions in international industrial companies and management consulting companies such as Philips Elektronikindustrier, Maynard MEC Management Consulting and Ericsson AB. Bo Westerberg has, among other things, been managing director of Indelec SA in Bilbao, Spain (subsidiary of Ericsson) and Vice President Corporate Sourcing for the Ericsson group.

Ongoing other assignments: Chairman of the board of Nötudden Capital AB and Nötudden Förvaltning AB. Board member of Cuptronic Technology AB, Newtor Property Group AB, Nötudden Fastigheter AB, Nötudden Fastigheterutveckling AB, Nötudden Fyrislund 11:4 AB, Nötudden Fyrislund AB, Stadsudden Asken 18 AB, Stadsudden Asken 2 AB and Stadsudden Fastigheter AB. Board deputy in Irené Westerbergs Projekt AB, New Barrington & Rose Capital AB and Newtor Capital AB.

Holdings in the Company: 140,577 B shares, 20,000 warrants of series TO2, and 20,000 warrants of series 2023/2026:2.

Independence: Independence in relation to the company and company management as well as in relation to the company’s major shareholders.

Born 1970. Board member since 2017.

Christian Gulbrandsen has education in mathematics, physics, electronics and defense training from the Swedish Armed Forces. Christian Gulbrandsen has previous work experience in sales, marketing and product development. Christian has previous experience as sales, marketing and production manager for FOMA Norge AS.

Ongoing other assignments: Christian Gulbrandsen has no ongoing other assignments.

Holdings in the Company: 674,320 A shares and 919,725 B shares.

Independence: Not independent in relation to the company’s major shareholders and not in relation to the company or company management.

Born 1977. Board member since 2017.

Fredrik Sävenstrand has a degree in economics at Stockholm University and a legal scholar at Karlstad University. Fredrik Sävenstrand has experience in business development and concept development mainly in energy technology and has experience in the heat pump market. Fredrik Sävenstrand is co-founder of the Energy Save group’s operations.

Ongoing other assignments: Board member of Project Air AB.

Holdings in the Company: 674,320 A shares and 223,670 B shares through the wholly owned company Project Air AB, as well as 5,350 B shares through closely associeted person.

Independence: Not independent in relation to the company’s major shareholders and not in relation to the company or company management.

Born 1957. Board member since 2017.

Inge Olausson has an economics degree from the University of Gothenburg. Inge Olausson has over 30 years of experience from leading positions in international industrial companies such as SCA Hygien (Essity), Nobel Biocare, Mölnlycke Health Care, Stampen Media Group and interim CTO for KappAhl AB. Above all as CIO, COO but also as CEO of subsidiaries within the aforementioned groups.

Ongoing other assignments: Board member of Olausson Konsult AB and management consultant for Olausson Konsult AB.

Holdings in the Company: 34,000 B shares through the wholly owned company Olausson Konsult AB, 20,000 warrants of series TO2, and 20,000 warrants of series 2023/2026:2.

Independence: Independent in relation to the company’s major shareholders but not in relation to the company or company management.

Born 1975. Board member since 2023.

Julia Norinder has a Master of Science in International Business Management from the School of Economics at the University of Gothenburg and has completed further education in business management and leadership. Julia Norinder has previously worked with leadership and complex changes in various roles over the past 20 years and in connection with that has also been active as an author and lecturer. Julia Norinder has a background as a management and organizational consultant and managing director at the consulting company Preera and has been HR and communications manager at SIDA (Swedish International Development Agency).

Ongoing other assignments: Board member in Julia Norinder Consulting AB and deputy board member in Peter Bergkvist Invest AB. Vice President for People and Sustainability at Zenseact AB. Lecturer and trainer in leadership development through Julia Norinder Consulting AB.

Holdings in the Company: 5,000 warrants of series 2023/2026:2.

Independence: Independence in relation to the company and company management as well as in relation to the company’s major shareholders.

Born 1983. Board member since 2023.

Maha Bouzeid has a Master of Science in Industrial Engineering and Management and a Master of Science in Industrial Marketing and Market Research, both from Linköping University. Maha Bou-Zeid has also taken a course in business administration at SSE Executive Education and board member training at Novare. Maha Bou-Zeid has previously worked, among other things, as Vice President & Head of Procurement at Ericsson with responsibility for the Middle East and Africa, Executive Director and Head of Growth at Polarium and Executive Advisor at Univrses.

Ongoing other assignments: Board member of Senior Material Holding Company (Europe) AB, Senior Material (Europe) AB, Power Circle AB and Maha Invest AB. Vice president and regional manager for Sweden, the Middle East and Africa at Business Sweden.

Holdings in the Company: 4,938 B shares, privately and through related parties, as well as 20,000 warrants of series 2023/2026:2 through the wholly owned company Maha Invest AB.

Independence: Independence in relation to the company and company management as well as in relation to the company’s major shareholders.

Managing Director since 2020.

A presentation of Fredrik Sävenstrand can be found in the section “Board” above.

CTO and employee in the group since 2020.

A presentation by Christian Gulbrandsen can be found in the section “Board” above.

Born 1985. Chief Financial Officer since 2018.

Helena Wachtmeister has a bachelor’s degree in business administration from the School of Economics at the University of Gothenburg. Helena Wachtmeister founded the accounting firm Företagarnas Redovisning Väst AB (FRV) and has previous experience as finance manager at Welcom in Gothenburg AB and as accounting manager at Bil Nilsson in Alingsås AB.

Ongoing other assignments: Board member and accounting assignments in Företagarnas Redovisning Väst AB.

Born 1985. Deputy CEO of the group since 2023 and employed by the Company since 2022.

Yibo Zhao has a master’s degree in business administration from the School of Economics at the University of Gothenburg. Yibo has previous experience as Business Manager in Powercell Sweden AB (publ) and as CEO in Powercell Sweden AB’s (publ) subsidiary Powercell Fuel Cell Shanghai Co. Ltd. In China.

Ongoing other assignments: Board member of the Sweden-China Trade Council Economic Association.

Holdings in the Company: 28,923 B shares.

Born 1991. CCO for the Group since 2023 and employed by the Company since 2022.

Mevludin Divovic-Hadzic is a qualified energy engineer from the University of Borås. Mevludin has previous experience as a business developer within the Company and as Business Manager for the product area of district heating and district cooling in Göteborg Energi AB.

Ongoing other assignments: Mevludin Divovic-Hadzic has no ongoing other assignments.

Holdings in the Company: 1348 B shares.