Daniel Troedsson leaves post at CEO for Alelion Energy Systems

2019-08-29 - Alelion Energy Systems AB

The decision was made by the board of Alelion Energy Systems AB to replace Daniel Troedsson as CEO for Alelion Energy Systems AB. Daniel Troedsson will leave the company immediately and until his successor is appointed Åsa Nordström, marketing manager for the company will be acting CEO.

This decision was taken against the background of tough changes that have taken place in recent years in the truck market and that have led to a dramatic drop in Alelion’s sales and result as the major truck manufacturers have increasingly chosen to start producing their own lithium-ion batteries.

“Daniel has done an excellent job building up Alelion and during his time here he has both seen the company listed on the stock exchange and established contracts with some of the world’s biggest truck manufacturers,” says Chairman of the Board, Jan Forsberg. “There continue to be very great opportunities in lithium-ion technology but the change that has taken place in the truck market demands an adjustment in the company strategy and operations and the board is of the opinion that this is best carried out by a new CEO.”

Regarding the development of the company during the year please refer to the six month report (Swedish) published to-day.

For more information, please contact:

Jan Forsberg, Chairman of the Board, Alelion Energy Systems

+46 73-433 73 47

e-mail: jan.forsberg@alelion.com

The information in this press release contains insider information that Alelion Energy Systems AB (publ) must make public in accordance with EU Market Abuse Regulation. The information was provided by the contacts named above for publication on 28 August 2019 at 11:45 CET.

About Alelion

Alelion Energy Systems AB is a leading supplier of industrial energy storage systems based on lithium-ion technology. A lithium-ion battery is more energy efficient, lighter, lasts longer and also contributes to considerably less environmental impact.

In step with the growth of climate threat and the urgent need to convert to more sustainable energy systems and more sustainable use of energy, an increasing number of sectors have begun to explore the possibilities offered by lithium-ion technology and this is opening up new markets and segments for Alelion. Through the development of smart software based control systems new business opportunities have evolved linked to lithium-ion technology in the energy management, an area where Alelion offers solutions.

In 2019 Alelion opened Sweden’s first factory for large-scale production of lithium-ion batteries for industrial vehicles. The factory is highly automated and is located in the centre of the vehicle cluster on Hisingen Island in Gothenburg. Read more at www.alelion.com

Alelion’s largest owners are Pegroco Invest and Fouriertransform. The company's share (ALELIO) is traded on Nasdaq First North Stockholm with G&W Fondkommission as certified advisor, e-mail: ca@gwkapital.se, telephone +468-503 000 50.

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