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Cortus Energy AB is a Swedish limited company. The stocks are traded on Nasdaq First North Growth (symbol CE). Cortus Energy AB’s corporate governance is based on Swedish legislation.

The governance of Cortus Energy takes place through the annual general meeting (the highest authority of the company), the board and the CEO.  This is according to the Swedish limited company legislation, the company’s articles of association and internal regulation.

Cortus Energy AB’s board consists of five full members. Employees in the company and/or specialists in specific areas take part in board meetings when needed.

The board’s work is controlled by a yearly stated procedure, which regulates the internal regulation, the decision-making structure within the company, authority to sign for the firm, the board’s meeting agenda and the tasks of the chairman.

The board monitors the work of the CEO.  The board is responsible of that the organization, the corporate government and guidelines for the management of the company’s means are appropriately organized. The board is further responsible of the development and follow-up of the company strategy through plans and goals, decisions about acquisitions, larger investments, nominations to the corporate government and ongoing follow-up of the activities through the year. The board do also fix the budget and is responsible of the annual financial report.

The chairman directs the board in order to follow the Swedish limited company legislation and other relevant legislations. He or she follows the activities in dialogue with the CEO and is responsible of that the other board members get the accurate information for decision making and discussions of high quality. The chairman is also responsible of the evaluation of the work of the board.

The board agenda consists of several relevant events for the company that are treated at every board meeting

  • Financial report: report material review
  • Investments: decisions regarding investments above 1,0 MSEK based on received documentation
  • Acquisition: presentation of ongoing acquisition discussions, and decisions regarding acquisition of companies or business categories when relevant
  • Communiqué: review of proposed report for external publication

In addition, the board receives a monthly written report regarding the company’s result and position. Further the CEO has continuous contact with the chairman 

THE BOARD

Per-Olov Norberg, born 1943

Per-Olov is independent in relation to the company and the company management as well as to the company’s major shareholders.

Chairman and board member since 2013.

EDUCATION AND EXPERIENCE: Per-Olov Norberg has a master’s degree in economics from the Gothenburg School of Economics. Per-Olov Norberg has extensive industrial experience from senior positions within the Nordic Oxygen Plants, Bofors, Bulten-Kanthal, Platzer Bygg, Uddeholm, Kanthal, Trustor and C-E Johansson, among others.

OTHER ONGOING ASSIGNMENTS: None.

HOLDINGS: 111,894,157 shares. Convertibles: SEK 22,224,114 nominal holding

Richard Bagge, born 1951

Richard is independent in relation to the company and the company management as well as to the company’s major shareholders.

Board member since 2013.

EDUCATION AND EXPERIENCE: Richard Bagge has a master’s degree in economics from the Stockholm School of Economics. Richard Bagge has a long experience from the financial industry where he has both been employed and worked with his own investment business.

OTHER ONGOING ASSIGNMENTS: Chairman of EasyFill AB (publ) and partner at Partner Fondkommission AB.

HOLDINGS: 2,606,976 shares through companies

Peter Forssell, born 1963

Peter is independent in relation to the company and the company management as well as to the company’s major shareholders.

Board member since 2014.

EDUCATION AND EXPERIENCE: Peter Forssell has a master’s degree (MSc in Forestry) from the Swedish University of Agricultural Sciences in Uppsala. Peter Forssell has extensive experience from the forest industry, partly as marketing manager for one of the larger Swedish sawmill companies, and partly as owner and chairman of the board of P. Forssell Timber AB. P. Forssell Timber AB represents a number of the Swedish leading sawmills in the Japanese market, e.g. SCA Wood AB.

OTHER ONGOING ASSIGNMENTS: Chairman of the Board of P. Forssell Timber AB and board member of Rumor Investments AB and Forssell Holding AB.

HOLDINGS: 33 219 534 shares through companies. Convertibles: SEK 2,715,999 nominal holding

Tobias Wennberg, born 1982

Tobias is independent in relation to the company and the company management as well as to the company’s major shareholders.

Board member since 2020.

EDUCATION AND EXPERIENCE: Tobias Wennberg has a degree in economics and law from Stockholm and Linköping universities, respectively, and runs his own consulting business. He has previously held senior positions within Saab Group and E.ON, with a focus on market and business development as well as investments and incubator operations.

OTHER ONGOING ASSIGNMENTS: Board member of Adscendo AB.

HOLDINGS: 397,463 shares

Rolf Ljunggren, born 1963

Rolf is independent in relation to the company and the company management as well as to the company’s major shareholders.

Board member since 2013.

EDUCATION AND EXPERIENCE: Rolf Ljunggren has a master’s degree in engineering from the Royal Institute of Technology. Rolf Ljunggren founded Cortus AB in 2006 and already has extensive experience from senior positions within AGA, Uddeholm, Proceedo and Invenys, among others.

OTHER ONGOING ASSIGNMENTS: Board member of Redigo GHG Invest AB.

HOLDINGS: 11,902,148 shares privately and through companies.

SENIOR EXECUTIVES

CEO SINCE 2019

EXPERIENCE: Håkan Sigfridsson is a trained high school economist in accounting and marketing. Håkan Sigfridsson has been involved in Cortus Energy AB since March 2017 and employed since November 1, 2017. Håkan Sigfridsson has extensive experience from executive positions in purchasing, aftermarket, production and company management, primarily within the defense group Saab AB.

OTHER ONGOING ASSIGNMENTS: Chairman of the Board of K-Light Holding AB.

HOLDING: 701 637 shares.

FOUNDER AND VICE PRESIDENT

EDUCATION AND EXPERIENCE: Rolf Ljunggren has a master’s degree in engineering from the Royal Institute of Technology. Rolf Ljunggren founded Cortus AB in 2006 and already has extensive experience from senior positions within AGA, Uddeholm, Proceedo and Invenys, among others.

OTHER ONGOING ASSIGNMENTS: Board member of Redigo GHG Invest AB.

HOLDINGS: 11,902,148 shares privately and through companies.

EXECUTIVE MANAGEMENT

CEO
Håkan Sigfridsson is an economist with focus in accounting and marketing. Håkan has been involved in Cortus Energy AB since March 2017 and employed since November 1, 2017. Håkan has long experience from executive positions in purchasing, after-market, production and company management, primarily within the defense group Saab AB.
Shareholdings as of 2019-12-31: 300 000 pcs
Founder & Vice President
Founder of Cortus AB and innovator of Cortus technology – WoodRoll®. Education and work experience: Rolf Ljunggren has a MSc of Engineering at KTH Royal Institute of Technology. Rolf Ljunggren founded Cortus AB in 2006. He has long experience of leading roles at AGA, Uddeholm, Proceedo and Invenys.
Present commitments: Board member at Cortus AB, Cortus Engineering AB, Cortus Intressenter AB and Redigo GHG Invest AB.
Dependent in relation to the company, the corporate government and the Company’s major shareholders.
Shareholding: 11 902 148, whereof 5 408 487 are owned through company.
Project Manager
Petra has been involved in Cortus Energy since 2017. Petra started her position as project manager during the detailed engineering phase of Cortus first commercial plant. Petra holds a Master of Science degree in Industrial Chemistry from Luleå Technical University. Petra has a long experience from managing industrial projects in Boliden and Metso. Both in Sweden and abroad.
CTO
Marko has been employed by Cortus since 2011. Marko holds a Master of Science degree in Energy Technology from Umeå University. Marko has a solid experience and knowledge of gasification technologies, and especially in the WoodRoll® process after all his years as a process engineer and technical manager at Cortus Energy.
HR-Manager
Josefin was engaged in Cortus during her master studies in 2011. Josefin holds a Master of Science degree in Industrial & Environmental Biotechnology. Josefin started working as a project engineer in 2015 after an internship and degree work for an industrial partner in California, SoCalGas (Sempra Energy). Today Josefin share her working time between market and HR.
CFO
Thomas has been active in Cortus since 2006. Thomas has a long experience as an financial consultant with his own company. Moreover, Thomas has worked as a Financial Controller for several companies within the Invensys Group’s Nordic operations.
Site Manager Höganäs
Patrik was hired in 2020 as a Site Manager in Höganäs. Patrik came previously from Nordkalk where he was Production Director for Scandinavia. Prior to that, Patrik has had leading positions in e.g. Imerys and Calderys where he worked both in Sweden and in the USA.
Technical Line Manager
Pär became a technical line manager at Cortus Energy AB in the fall of 2019. Pär holds a degree in Engineering from KTH in Stockholm and has more than 30 years of experience as project manager for industrial projects, primarily in the steel industry in Sweden and abroad.

OWNERS

The largest shareholders 2021-11-30 holdings
Source: Euroclear Sweden AB and information known to the company
Försäkringsaktiebolaget, Avanza Pension 156 846 021
Per-Olov Norberg 124 326 835
Nordnet Pensionsförsäkring AB 35 052 928
P Forssell Timber AB (of which 17 567 613 through endowment insurance) 33 219 534
Per Norberg, privately and through companies 28 318 421
Joacim Larsson 15 824 121
Gunvald Berger 13 369 439
Rolf Ljunggren, privately and through companies 11 902 148
Ali Saftar 11 044 866
Anders Strömberg 8 300 003