Board of Directors

Bjarne Henning Jensen

Chairman of the Board

Year of birth: 1960
Elected to the board: July 2016 (previously served July 2014 – May 2016)

Education and experience:

Education and experience: Master of Science and Ph.D. from DTU and a B.Com from CBS.

Bjarne has many years of experience from board positions in high-tech growth companies and is currently chairman of the board of six companies in the energy and cleantech industry, where he has also invested in a number of companies.

During the period 2013-2016, he was CEO of Syddansk Teknologisk Innovation A/S and 2007-2013 partner in VF Venture. Prior to this he was Executive Vice President of Elsam (now Ørsted A/S).

Bjarne is independent of the issuer, major shareholders and senior management.


Shareholdings: 40,576 shares and 1,810 warrants

Flemming Bent Lindeløv

Board member

Year of birth: 1948
Elected to the board: February 2020

Education and experience: Master of Chemistry, Dr. ing. and PhD.

Flemming has vast experience as both chairman and member of numerous boards as well as CEO-positions including with Tulip Slagterierne, Tulip International, Carlsberg, Carlsberg Breweries, Illums Bolighus and many more.

Flemming is independent of the issuer, major shareholders and senior management


Shareholdings: 12,311 shares

Frederik Bruhn-Petersen

Board member

Year of birth: 1945
Elected to the board: April 2018

Education and experience: Master of Law and Master of Business Administration.

He established his own law firm in Copenhagen in 1977 and has practiced law in a wide variety of fields with a focus on business-related matters.

Over the years, he has been an active participant in, primarily, small and medium-sized enterprises in Denmark and abroad, as an investor, board member or manager.

Frederik is independent of the issuer, major shareholders and senior management


Shareholdings: No personal ownership, but his wife owns 18,918 shares personally and 253.022 shares through her company HCS 82 ApS

Stig Poulsen

Board member

Year of birth: 1961
Elected to the board: February 2020 (previously served December 2015 – November 2017)

Education and experience: Master of science (cand.polyt.).

Stig has been area manager and partner in Vækstfonden since 2010 and prior to that CEO in Danfoss Ventures A/S for 6 years.

Stig has a solid knowledge of financing of early-stage businesses, strategy work as well as C-level management.

Stig is independent of the issuer, major shareholders and senior management


Shareholdings: None

Martin Kjær Hansen

Board member

Year of birth: 1985
Elected to the board: March 2021

Education and experience: Master in Economics & Auditing (Cand.Merc.Aud.) as well as Master in Finance & International Business (Cand.Merc.FIB). Martin currently holds the role as Vice President, Head of Group Business Finance as ISS A/S.

His professional background centers around the international service industry and capital market in particular – expanding across both equity and credit markets as well as capital market transactions in general.

Most recently Martin held the role as Head of Investor Relations at ISS A/S as well as Deputy Chairman for the Danish Investor Relations Society (DIRF). Further, Martin has experience from a couple of start-ups.

Martin is independent of the issuer, major shareholders and senior management


Shareholdings: 363 shares

Lars Frederiksen

Board member and CTO

Year of birth: 1953
Elected to the board: July 2014 (served as chairman until July 2014)

Education and experience: Chartered Surveyor (Cand. Geom.).

Lars has been a business entrepreneur, business leader and investor in the greentech industry since 1994. His experience includes R&D, technical solutions and business management typically driving companies from the early stage of an idea into promising market growth, including the placement of such companies in exit opportunities or similar.

Lars has been a board member of many greentech companies and has invested in several such companies.

Lars is not an independent director.


Shareholdings: 1,548,420 shares via his holding company CIS Consult ApS and 3,620 warrants. His wife owns 9,932 shares personally.