– GERMANY, Berlin / USA, TX – 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).
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