Nilar announces CEO transition latest by year-end 2021

Today, Marcus Wigren, CEO of Nilar International AB (publ), informed the Company’s Board of Directors that he wishes to step down from his responsibilities as CEO latest by the end of the year. With regrets, the board acknowledged his wish. The Board and Marcus have agreed a seamless transition to the next CEO.

Marcus Wigren, CEO of Nilar, says:

“By now, I have been with Nilar for over 14 years. When I joined, Nilar was an R&D development project, having recently created its first fully functional prototypes. Since then, Nilar has been on a tremendous growth path. And I, together with a small team of leaders, have been a key player in every development step, having been responsible for product management, sales, and for the past five years as CEO. I am proud of having been the leader of the team that took the company public a few weeks ago. After 14 exciting, but also hugely challenging, years, it is time for me to hand over the baton to a new leader and embark on my next project.”

Michael Obermayer, Nilar’s chairman notes:

“Nilar is currently one of few European producers of advanced batteries that are fully integrated, from cell to system. From early prototypes, Marcus has led teams in several functions. In particular, he has been instrumental in Nilar’s rapid evolution from a battery cell manufacturer to a supplier of complete energy storage systems, including electronics and advanced battery management systems. Much of this path has been walked in close cooperation with early trial customers, who saw the unique potential in Nilar’s way of creating a competitively differentiated offering.

Without Marcus’ capability of forging close and synergistic customer relationships across Europe, and in several key application areas, this would never have been possible. With his vision, deep technical understanding as well as commercial knowledge, Marcus is a unique all-round business leader. What of course makes Marcus special is his unparalleled people leadership, keeping the technical and commercial development teams together through ups and downs. Marcus has played a very significant role in the development of Nilar and the process of taking the company to the recent public listing on Nasdaq First North Premier Growth Market, and we sincerely wish him all the best in his future endeavours.”

Nilar is well positioned to capitalize on the explosively growing EES (Electrical Energy Storage) market, driven by global trends. The need for battery storage in residences, offices and factories is ever increasing as penetration of intermittent renewable energy sources grows, necessitating electrical energy storage. Post its recent successful IPO, and with the strong support of the European Investment Bank, Nilar is now set on a strong growth path.

Obermayer adds:

“We shall sorely miss Marcus. But whoever takes over starts from the best possible foundations to take this uniquely innovative company to its next level.”

This is information that Nilar International AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 0800 CET on June 14, 2021.

For more information contact:
Michael Obermayer, Chairman of the Board, Nilar
+46 70 911 98 82
michael.obermayer@nilar.com

Press contact:
Matilda Ekman Vråmo
+46 72 213 01 28

matilda.ekman.vramo@nilar.com

About Nilar

Nilar is a Swedish-based developer and manufacturer of stationary energy storage systems, so-called Electrical Energy Storage (ESS) systems. Energy storage systems can be used to bridge imbalances between energy production and demand in order to, for example, improve the utilization of intermittent electricity production from renewable energy sources, such as solar energy and wind power, as well as to strengthen the increasingly strained power grids. Nilar's battery technology is based on nickel-metal-hydride (NiMH) electrochemistry with a water-based electrolyte, which results in a strong environmental and safety profile together with a competitive price over a life cycle. The Company is headquartered in Täby and the energy-efficient production facility is, since 2012, located in Gävle, where the Company's research and development also takes place.

The Nilar share is listed at Nasdaq First North Premier Growth Market, ticker NILAR. FNCA Sweden is Certified Adviser +46 8 528 00 399. For more information go to www.nilar.com.

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Quotes

By now, I have been with Nilar for over 14 years. When I joined, Nilar was an R&D development project, having recently created its first fully functional prototypes. Since then, Nilar has been on a tremendous growth path. And I, together with a small team of leaders, have been a key player in every development step, having been responsible for product management, sales, and for the past five years as CEO. I am proud of having been the leader of the team that took the company public a few weeks ago. After 14 exciting, but also hugely challenging, years, it is time for me to hand over the baton to a new leader and embark on my next project.
Marcus Wigren
Nilar is currently one of few European producers of advanced batteries that are fully integrated, from cell to system. From early prototypes, Marcus has led teams in several functions. In particular, he has been instrumental in Nilar’s rapid evolution from a battery cell manufacturer to a supplier of complete energy storage systems, including electronics and advanced battery management systems. Much of this path has been walked in close cooperation with early trial customers, who saw the unique potential in Nilar’s way of creating a competitively differentiated offering. Without Marcus’ capability of forging close and synergistic customer relationships across Europe, and in several key application areas, this would never have been possible. With his vision, deep technical understanding as well as commercial knowledge, Marcus is a unique all-round business leader. What of course makes Marcus special is his unparalleled people leadership, keeping the technical and commercial development teams together through ups and downs. Marcus has played a very significant role in the development of Nilar and the process of taking the company to the recent public listing on Nasdaq First North Premier Growth Market, and we sincerely wish him all the best in his future endeavours.
Michael Obermayer
We shall sorely miss Marcus. But whoever takes over starts from the best possible foundations to take this uniquely innovative company to its next level.
Michael Obermayer