Former Danish Minister of Energy enters Blue World Technologies’ Board of Directors

Blue World Technologies is strengthening its Board of Directors by welcoming former Danish Minister of Energy, Lykke Friis, to the table.

At an extraordinary general assembly, the former Danish Minister of Climate, Energy, and Gender Equality, Lykke Friis, has been elected for the Blue World Technologies’ Board of Directors where she will support the company’s journey towards providing a strong green alternative to combustion engines and diesel generators for industries around the world.

“We are very pleased to announce that Lykke Friis has entered our Board of Directors. We have for some time now been in contact with her, as we see her profile as the perfect match for a board position at Blue World Technologies, and we are very much looking forward to our collaboration”, says Co-founder and Chief Executive Officer of Blue World Technologies, Anders Korsgaard.

A unique background

Lykke Friis holds a PhD in Political Science from the University of Copenhagen. The same university that she later, for two periods, served as prorector. She also holds a Master’s degree from the London School of Economics. After her studies, she was appointed Senior Researcher and later Head of Research at the Danish Institute for International Affairs. In 2003 she took over as Director for European affairs in the Confederation of Danish Industries (DI).

For more than two decades, Lykke Friis has used her knowledge and experience to make a difference for companies and organisations doing board work and honorary work. To mention a few; Chairman of the Board of Directors at House of Energy in 2019, Member of the Board of Directors of Vestas A/S from 2014 to 2018, Member of the Board of Directors of the Rockwool Foundation since 2014, member of the European Council of Foreign Relations since 2011 and Co-chair since 2019, and President of the Danish Cancer Society since 2016. Currently, she holds the position of Director of the Copenhagen-based Think Tank EUROPA.

“With Lykke Friis’ political background and knowledge within climate and energy combined with an international outlook, Lykke Friis possesses experience and know-how that undoubtedly will benefit Blue World as a major fuel cell developer and manufacturer in playing a significant role in the global green energy transition”, states John Butt, Chairman of the Board.

From R&D to industrialisation

For the past decades, Denmark has been investing research and development fundings in methanol fuel cell technology. But to succeed in bringing the technology to a commercial level where it can compete with conventional technologies on both technical specifications as well as on cost, industrialisation of the technology is the answer. Therefore, Blue World Technologies is in the process of installing production equipment for a large methanol fuel cell production in Aalborg and is expected to start pre-series production within the next couple of months. In this way, Blue World Technologies covers the full value chain of product development; from research and development with strong collaborations with leading institutes and universities around the world to large-scale manufacturing of fuel cell components and systems. This approach has fascinated Lykke Friis since she was first introduced to Blue World Technologies two years ago:

“It is now time for Europe, and for that matter, the world to convert all its ambitious climate goals from paper into action. I am convinced that Blue World Technologies with a ‘ready to go technology’ can play a crucial role, not at least in the all-important transport sector. Blue World Technologies has impressed me as a company that is based on close cooperation with the research community. They have already distinguished themselves as both a first- and fast mover in the green transition, and I am therefore very excited to join their green journey and to contribute to the development of Blue World Technologies moving forward”, says Lykke Friis after the election.

Blue World Technologies is expected to continue upscaling the production with an aim to reach a full-scale commercial production capacity of 50,000 fuel cell units per year within the next three years.

A further step in strengthening the Board

In late December 2020, Blue World Technologies took the first step towards an independent and professional board. At that time John Butt was elected for the board and at the following board meeting, he was elected Chairman.

John Butt, Founding General Partner at Conduit Ventures, entered the Blue World Technologies’ Board of Directors with more than 35 years of experience in strategic planning, operations, and business development and with key competencies within investments in clean energy, hydrogen, and fuel cells.

As part of the company’s corporate governance strategy, Lykke Friis is taking over a seat at the board from Le Wei who has been part of the board as a shareholder representative.