Inside information

Green Hydrogen Systems announces appointment of new CEO

Kolding, Denmark, 30 October 2024

Today, the Board of Directors of Green Hydrogen Systems has appointed René Umlauft as new Chief Executive Officer (CEO) with effect from 1 November 2024. René Umlauft will replace the current CEO Peter Friis, who will leave the company.

Thomas Broe-Andersen, Chairman of the Board of Directors of Green Hydrogen Systems, says:

"Q3 has been a challenging period for Green Hydrogen Systems. With the current situation, Green Hydrogen Systems is facing, we need to execute a different strategy with the purpose of ensuring a sustainable and profitable future for Green Hydrogen Systems. On behalf of the board of directors, I would like to thank Peter Friis for his work and contribution as CEO of Green Hydrogen Systems since 2023. We have agreed to let another profile execute the important coming tasks we will be initiating in this turnaround of the company. We see René Umlauft as the right profile to take over as CEO with competencies from complex industries within the green transition as well as significant business transformation and restructuring experience. Alongside the Board of Directors, René Umlauft will be an important part ensuring a solid foundation for the future."

René Umlauft, new CEO of Green Hydrogen Systems, says:

"I look forward to take on the position of CEO in Green Hydrogen Systems and get the opportunity to contribute in navigating through the current challenges with my experience and knowhow as CEO from a number of global companies. With the latest strategic decisions from the Board of Directors, I am convinced the company will have a strong future within this important industry, and I look forward to taking on this task alongside my new, talented colleagues.”

René Umlauft has a Ph.D. in engineering and has previously been managing director and CSO in Rittal, and CEO in MAN Diesel and Siemens Renewable Energy, and brings significant business transformation and restructuring experience to the business.

CEO René Umlauft and CFO Michael Kaalund will hereafter form the Executive Management of Green Hydrogen Systems.

*****

For more info please contact:

Thomas Broe Andersen, Chairman of the Board of Directors, phone +45 3050 0062

Green Hydrogen Systems in brief

Green Hydrogen Systems is a clean technology company and a leading provider of standardised and modular electrolysers for the production of green hydrogen solely based on renewable energy. With its wide range of possible applications, green hydrogen plays a key role in the ongoing fundamental shift in our energy systems towards a net-zero emission society in 2050. As a result, the demand for green hydrogen is surging, requiring a significant scale-up of electrolysis capacity. Founded in 2007 and building on more than 15 years of technology development, Green Hydrogen Systems today have a commercially proven and cost-competitive electrolysis technology endorsed by leading green energy companies.

Source: Green Hydrogen Systems

Ticker: GREENH

Tag: Changes board/management/auditors

Attachment

Company Announcement