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Enersize Appoints New CEO

English translation of previously released news: The Board of Enersize Oyj ("Enersize") has appointed Anders Sjögren as the new CEO of Enersize. Anders Sjögren will replace Sami Mykkänen as the company's CEO effective immediately. In connection with Anders Sjögren's appointment as CEO, Daniel Winkler (former CEO of LEAQS / LMS) is appointed globally responsible for sales and marketing for Enersize.

The decision to appoint the new CEO and global sales and marketing manager is made to drive Enersize to positive cash flow in the coming year. The Board's assessment is that the company, with Anders as CEO and Daniel as globally responsible for sales and marketing, will be given the leadership with the best ability to capitalize on the combination of the company's technology solutions and Daniel’s market knowledge and sales network.

Anders Sjögren has previously held positions in Enersize as Head of Research and CTO, and in that role has managed Enersize's operations in Lund, making great progress in the development of the cloud platform and analysis software. Anders has also been part of the management team and has a comprehensive insight into Enersize's business as well as a good understanding of Enersize customer needs. Anders has a PhD in Physics and has experience at senior management level in listed companies. He has also served as interim CFO of Anoto AB and been responsible for Anoto AB's restructuring work and outsourcing of Swedish operations.

Daniel Winkler was the former CEO and founder of LEAQS / LMS and has many years of experience in sales towards Enersize’s customer category, as well as having a huge network in the industry and extensive knowledge of compressed air systems and customer needs. Daniel has a strong focus on sales and a thorough understanding of sales methodology, sales organization and marketing.

The Enersize Board sees great benefits from having recruited a new CEO internally who is already familiar with the company, and who has a good ability to implement rapid changes as well as the right background to drive the board's long-term vision for the company. The Board's assessment is that Anders Sjögren is the right person to realize the strategy decided by the Board, taking full advantage of the synergy effects of recently acquired LEAQS for implementing Europe expansion and pushing Enersize from a project company to become a world-leading provider of compressed air optimization SaaS.

Former CEO Sami Mykkänen will continue to support the new management team from his board position, focused on the development of the international business network in China. There is no severance pay for Sami Mykkänen in connection with his resignation as CEO.

In addition to market pay, the Board will issue an option-based incentive program to Anders Sjögren. The warrants to be issued to Anders will be issued within the space of the previously decided amount of employee warrants. The number of warrants and conditions for these will be announced in connection with the issuance.

Christian Merheim, Chairman of the Board Enersize, comments:

"I'm very pleased to announce Anders Sjögren as new CEO of Enersize. Through Anders's previous role in Enersize, I have seen his excellent ability to analyze and excecute as well as a well-developed leadership with a deep technical and business understanding. With Anders as new CEO, the acquisition of LEAQS and recent capitalization from Formue Nord, Enersize has the prerequisites for long-term success as well as short term increase in shareholder value. With Anders at the helm, we begin a new exciting trip for Enersize, and I thank Sami for his time as CEO, which included many exciting steps in the company's development, not least having driven it from a start-up to a listed company."

Anders Sjögren, newly appointed CEO, comments:

"In my role at Enersize I have had the opportunity to see the business from the inside for some time and see what works and what is lacking. Due to my close cooperation with the company's board of directors and the consensus we share about the company's future, I have been able to participate in the strategic work of setting guidelines and goals. I am very grateful that I have just been chosen to bring the company to a new direction that I really believe in. I look with great excitement on the future and what we can do together with the strong team that the company has."

Sami Mykkänen, outgoing CEO, board member comments:

"As the company evolved and we got to know the customers and the market better, it is clear that Enersize’s innovative software and the opportunities it provides through license and subscription sales is the area where there is the best future potential. With the acquisition of LEAQS, we have become even more of a software company and therefore we have jointly decided to adapt the company's management to make best use of this. With this I will now leave and hand over my role as CEO to Anders but will remain on the board and continue to contribute to the work on the Chinese projects to move these towards positive cash flow."

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