Bjørn Maarud appointed new CEO and Jo Uthus proposed as new Chairman

CondAlign AS is pleased to announce the appointment of Bjørn Maarud as CEO in CondAlign and Jo Uthus is proposed as new Chairman of the Board

Mr. Maarud currently has the role of Executive Chairman in CondAlign. Mr. Maarud will assume the position immediately and will not stand for reelection for the Board at the upcoming AGM.

Mr. Maarud joined the CondAlign Board in November 2020 and has been Executive Chairman since January 2021 and knows the Company well from this position. Bjørn Maarud is an experienced executive with a strong track record from companies like Philips, Telenor, ABB, Staples, Europris and Bertel O. Steen.

Bjørn Maarud comments:
“As Chairman I have been able to work with CondAlign and I am impressed by the team and the technological platform of the Company. I very much appreciate the opportunity to engage even more operationally now as CEO and drive the efforts for the Company to realize its full potential.

CondAlign has a truly enabling technology with potential application within several multibillion markets like electronics and thermal interface materials. We continue to work with leading global technology companies to develop products for these mass markets.

I am joining the Company at a time where we have a solid financial position after raising NOK 75m in new equity in February 2021. Since then, we have invested in strengthening the operational platform of the Company. The lab facilities have been enhanced with new and advanced equipment that will further improve our capacity to execute projects and increase speed to commercial license agreements. In addition to investing in equipment we are strengthening the team. In April and May we have signed up three new colleagues and expect more to join in the coming weeks. This is part of the outlined strategy to increase the capacity and bandwidth of the organization.

For me it is also with pride I am joining a Company that has a technology that could have a meaningful impact on our environment. With a background from the automotive industry, I appreciate that we work with thermal interface materials that could help improve the efficiency of electric vehicles. It is also exciting that CondAlign is working on research and development projects including membranes for gas separation which could improve carbon capture technology and with coatings to improve performance of fuel cells – both with high potential for contributing to reducing emissions. “

With Mr. Maarud stepping down from the Board, Mr. Jo Uthus is proposed as new Chairman of the Board to be elected at the upcoming AGM.
Jo Uthus brings substantial experience from the global technology sector. He has had senior executive positions in Microchip Technology and Atmel Corp. He is currently the CEO of Crayonano AS and has been on the Board of CondAlign since February 2020.

Jo Uthus comments:
“I am very enthusiastic to take an even more active role in CondAlign, and honored to be proposed as Chairman. I look forward to working closely with Bjørn and the team at CondAlign. I am impressed by the work that has been done in the Company and seeing progress on customer projects and all the opportunities ahead I am confident that CondAlign will succeed. The focus for me and the Board will be to ensure that the resources for Bjørn and the team to realize the potential in the CondAlign technology are in place.”

For further information, please contact:

Bjørn Maarud
CEO
Phone: +47 900 20 724