Former Vattenfall executive Mats Fagerlund named Chairman of Storage
Pioneer
In a move that will further drive the transformation of the energy
economy, former Vattenfall executive Mats Fagerlund has been appointed
to head the supervisory board of energy storage market leader Younicos.
In addition, technology industry veteran King R. Lee has been named as
an Independent Director. Drawing on their extensive experience and
industry networks, Fagerlund and Lee will provide guidance and counsel
to the Younicos senior management team, as the industry pioneer
continues to scale its deployment of intelligent storage solutions and
“energy storage as a service” offering.
“Energy storage has reached grid-scale acceptance and maturity, and
we’re very proud that Mats Fagerlund and King Lee will come on board to
help steer Younicos through its next growth phase,” said Joerg Sievert
of aeris capital, lead investor in Younicos. “Their commitment
underscores the technology and innovation leadership role of Younicos.”
Mats Fagerlund brings over 25 years of experience as a heavy hitting
energy industry executive. He is a former executive board member of
Vattenfall in both Sweden and Germany, and directed the Swedish
utility’s German Transmission and Distribution business unit from 2004
to 2010. Since then, he has advised investors in the energy and
infrastructure sector.
“I’m excited about the opportunity to play an active role in shaping a
successful energy transition - not only in Germany, but globally,” Mats
Fagerlund said. “The intelligent storage solutions pioneered by Younicos
are an important asset to any modern power grid and should be adopted
quickly as a cost-effective solution by TSOs and DSOs globally. They
will also play a crucial role in enabling ever-cheaper wind and solar
power to supplant parts of base-load generation. As the global market
for energy storage is set to explode, I look forward to supporting
Younicos in rolling out its transformative solutions.”
Clemens Triebel, co-founder and Chief Visionary Officer of Younicos
said: “Mats Fagerlund brings a deep understanding of the scale of
transformation that the energy industry is going through, as well as the
key role that intelligent storage is playing in enabling a more
efficient, reliant and greener grid. At the same time, Mats Fagerlund
speaks the language of the old energy economy. He’s well placed to help
explain the opportunities that storage presents to politicians,
regulators and other important industry stakeholders, such as
established utilities and grid operators”.
Independent Director King R. Lee served as chairman, president and CEO
of Good Technology, where he guided operational efficiencies and product
direction to solidify the company’s position within the enterprise
mobility market. Prior to that, he spent more than 20 years helping
companies’ transition to high growth in diverse industries.
James P. McDougall, CEO of Younicos said: “We welcome the addition of
Mats Fagerlund and King Lee to our supervisory board. Their combined
experience will provide Younicos with invaluable knowledge, insight,
experience and industry contacts that are relevant and important to the
next stage of growth for the company. We are looking forward to their
many contributions.”
King R. Lee and Mats Fagerlund join sitting board members Jörg Sievert,
Thorsten Fricke and Cordula Ströher-Goldenbow.
About Younicos
Younicos is a global leader for intelligent energy storage and grid
solutions. Clients benefit from technical expertise, commercial know-how
and in-depth experience built on nearly 100 megawatts installed in more
than 20 energy storage projects worldwide. The company was founded in
2005 in Berlin, Germany, and currently employs more than 150 storage
enthusiasts there and in Kyle and Austin, Texas (USA). For more
information visit www.younicos.com
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View source version on businesswire.com: http://www.businesswire.com/news/home/20151005005734/en/
Copyright Business Wire 2015
Source: Business Wire
(October 5, 2015 - 7:00 AM EDT)
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