FREEVALVE APPOINTS ALLAN NIELSEN AS CEO

The Board of Directors at FreeValve AB are pleased to announce the appointment of Mr Allan Nielsen, 48, as Chief Executive Officer at FreeValve. Mr Nielsen replaces Mr Urban Carlson as CEO, while Mr Carlson remains at FreeValve and has taken up the position of Chief Technology Officer.

FreeValve is now in transition from product development to product commercialisation and the appointment of Mr Nielsen is a reflection of the importance of this phase. FreeValve is currently working with several automakers on projects for various type engines, both diesel and gasoline, and exhibited a car with FreeValve technology installed at the 2016 Guangzhou Motor Show. At present, work continues on the adaptation of this technology for mass production while discussions continue with various vehicle manufacturers for the implementation of FreeValve technology.

Mr Nielsen arrives at FreeValve after a 30 year career in various sectors of the transportation industry, including aviation and logistics. He has started four successful companies of his own and has spent more than 25 years of his career at senior management level. He most recently oversaw the transformation and growth of Geodis’ Nordic region. Geodis is a logistics and freight forwarding company, a subsidiary of France’s national rail provider, SNCF.

“Allan’s arrival marks a key strategic appointment for FreeValve at a transformational moment in the company’s history” said Urban Carlson, co-founder of FreeValve AB and CTO. “Allan’s entrepreneurial background and his work with complex businesses worldwide gives him the ideal blend of vision and experience to lead FreeValve as we continue our expansion into the global automotive marketplace.”

Christian von Koenigsegg, Chairman of the Board of Directors: “This appointment is a perfect fit for FreeValve as the company continues to grow and transform. It gives us an experienced hand at the helm of the company and frees our former CEO and co-founder, Urban Carlson, to concentrate on the technical side of the company.”

Mr Nielsen commenced at FreeValve on February 1, 2017.

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