Wooden wind turbine tower firm Modvion has appointed Maria-Lina Hedlund, previously chief financial officer, as chief executive, effective immediately.
She succeeds the company’s cofounder, Otto Lundman in a move to supports Modvion’s focus on product maturation and strengthening partnerships for future growth.
With an engineering degree and experience from companies like Siemens, Volvo, and Azelio, she brings a rare combination of financial expertise, technical knowledge, and strategic insight, Modvion said.
Kent Sander, chairman of the board, said: “In her role as CFO, Maria-Lina Hedlund has been a key person for Modvion.
“Her deep understanding of Modvion’s operations and vision allows her to elevate the company to new heights.
“I am also pleased to confirm that Otto Lundman remains in a strategic role. Under his exceptional leadership, we have reached remarkable milestones and established a strong foundation for future success.”
This transition supports Modvion in its next phase of industrial scaling, where strategic partnerships play a key role.
The company will focus on product maturation to provide the benefits of tall wind turbine towers made of wood for the fast expanding market of 6MW onshore wind turbines.
Hedlund said: “As we take this next step, we’re excited about our growing partnerships that will be key to driving industrialisation and long-term growth.
“While much is evolving, we will stay true to what sets Modvion apart: our pioneering innovation and our strong, values-driven culture.”
Lundman will remain at Modvion to work full time with business development, leveraging his invaluable experience to build further value.
He said: “I’m very proud of the work we have done so far and looking forward to this next chapter.
“Now I can focus my time on our strategic partners and developing relationships to build Modvion’s future.”