Magnora ASA

Electric Future

We invest in renewable and
clean energy built in a sustainable way.

ABOUT

Magnora ASA

After selling our oil and gas related business in 2018, Magnora has in just two years managed to transition into a renewable energy development company. We have succeeded in attracting a team of industry experts, and have made a few key investments we believe will shape the future of Magnora in the years to come.

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Magnora ASA

Karenslyst Allé 2

0277 Oslo

Norway

ir@magnoraasa.com

Magnora © 2022. All Rights Reserved.

Peter Nygren

Peter Nygren has a long and broad experience of financing, construction and operation of energy assets of various kind. Among others co- founder and CEO of the listed wind power company Arise where over 500 MW on- shore wind was developed and built, as head energy on corporate level at SCA with responsibility for purchase of energy to the companies papermills and units across the world and as Vice President Project Financing at the civil construction company NCC.
 
Peter holds a Degree in Mechanical Engineering and an MBA from Uppsala University.

Bjørn Sund

Bjørn Sund holds a Master Degree in Chemical Engineering from The Norwegian Institute of Technology (NTH) in Trondheim, and have decades of experience from field development and Norwegian offshore licensing processes.
 
Mr. Sund has worked across areas such as field development, Head of R&D for Norsk Hydro working with electrolysers, hydrogen and ammonia (and NEL and Yara which are both Norsk Hydro spin-offs from his time with Norsk Hydro).
 
Mr. Sund has also contributed to the Utsira Project (wind power and electrolysers) and the Hywind studies (offshore wind concept today owned by Equinor). Over the last few years Mr. Sund has worked for Lundin Energy and Aker Energy with field development.

Tor Ottar Karlsen

Karlsen has 45 years of experience from government organizations and served as a county mayor for eight of those years. Karlsen has also served as an advisor to the government lead by Gro Harlem Brundtland and the Parliament for three years.
 
For seven years he was Managing Director for Vardar, a government-owned energy company. He led the company’s development of renewable energy in Norway and the Baltics. Karlsen has also served as a chairman of Vardar and board member of Nelja Energia, which was one of the largest renewable energy companies in the Baltics before being acquired.

Ronald Hardersen

Ronald Hardersen holds a Master of Science from Norwegian University of
Science and Technology (NTNU), and various executive education from
University of Tromsø (UiT) within project management, economics, business
development, law, and change management.
 
Hardersen has several years of experience from development and construction of renewable energy plants within wind and hydro power in the northern parts of Norway. He also has several years of experience from construction and consulting, as well as public administration.
 
Since 2017, Hardersen has cooperated with UiT on arctic sustainable energy, and has participated in the Arctic Centre for Sustainable Energy project as well as the Smart Senja project. The projects have focused on the potentials for solar energy in the north, as well as optimizing consumption levels and storage of energy.

Kenneth Kolvits

Kolvits has over 20 years of experience from the Renewable Energy sector, with over 14 years at Vestas in the global sales department where he was Vice President. He has also several years of experience from consulting, asset
management, and M&A in private equity firms.
 
He has a comprehensive experience in strategy formulation and implementation, business development, B2B sales, relationship building and product management. He has strong communication skills and is skilled in delivering high quality customer service and building relationships with business partners.
 
Kolvits has had repeated success in his various roles with achieving revenue growth, cost control and reduction, various types of acquisition and retention, key account development, and marketing. He is an analytical planner and adept at identifying and isolating new business opportunities, as well as devising solutions to mitigate issues.

Kristin Gjertsen

CEO Magnora Offshore Wind

Kristin Gjertsen holds a Master of Science from Norwegian University of Science and Technology (NTNU) and an MBA from Norwegian School of Economics (NHH).
 
Gjertsen is an experienced executive with expertise in project management,
strategy & field development, offshore licensing processes and turnaround management. Her industrial background is mainly from Oil & Energy but has also experience from several other industries, such as Software and Online Business, Aluminum, Agri, Shipping and Retail Market.
 
During her more than 25 years’ experience, Gjertsen has worked with Exxon, Accenture, Norsk Hydro/Equinor, Microsoft and Aker. She has also served on several boards at companies within shipping, rig services and oil & energy.

Bjørn Drangsholt

Bjørn Drangsholt holds a master’s degree in electrical & power engineering from the Norwegian Institute of Technology (NTNU) in Trondheim. He has extensive experience from various management positions, both in projects and in line organisations at Norsk Hydro, Naturkraft, Statoil and Statkraft.
 
Furthermore, Mr. Drangholt has significant project experience in development, construction and operations phases from large projects within the oil and gas sector in the North Sea, offshore wind power projects in the UK, as well as from large onshore projects within gas power-, magnesium-, hydro power- and onshore wind power plants. Recently, Mr. Drangsholt has been engaged by Google to assist with development of heir hyper scale datacentre project in Norway.
 
During his more than 40 years of experience, Mr. Drangsholt has spent 15 years abroad in UK, Canada, Belgium and the Netherlands. He has also served as chairman and board member in several companies.

John Hamilton

Board Member

 
CEO of Panoro Energy
 
Previously CEO of AIM listed President Energy and MD of Levine Capital Management, an oil and gas investment fund, CFO with Imperial Energy and 15 years with ABN Amro.
 
BA from Hamilton College in New York and MBA from Rotterdam School of Management and New York University.
 

Number of shares: 34 787

Number of share options : 40 000

Hilde Ådland

Board Member

Maintenance & Logistics Manager in Vår Energy.
 
Extensive experience from various technical and operational positions in Kværner, Statoil and Gas de France / GDF Suez / Engie Norway.
 
Board member in Panoro Energy.
 
Bachelor’s degree in Chemical Engineering and Master’s degree in Process engineering.
 

Number of shares: 59 848

Number of share options : 10 000

Torstein Sanness

Chairman

 
Experience as MD of Lundin Petroleum Norway and DNO, and from several executive positions during his 25 years at Saga Petroleum.
 
Board member Lundin Energy, IPC, Panoro Energy, Dr. Techn. Olav Olsen, TGS, previously Chairman of Lundin Petroleum Norway.
 
Lundin announced Feb-20 the investment in Finland’s 3rd largest wind farm (132 MW), and in Nov-19 the investment in 50% of the 77 MW Leikanger hydropower project.
 
Master’s degree in Engineering (geology, geophysics and mining engineering) from NTH.
 

Number of shares: 595 392

Number of share options : 150 000

Trond Gärtner

SVP Business Development

Trond Gärtner joined Magnora from Statkraft where he has more than 15 years’ experience from various management positions, including Vice President for Onshore Wind Power Development and Vice President for Technical Management in the Project Delivery Unit. He also worked several years as a Project Developer and Project Manager for onshore and offshore wind projects and gained hands-on experience from development, engineering and technical due diligence from projects such as Fosen Vind in Trøndelag with more than 1000 MW and the 4.8 GW Dogger Bank development outside of UK. Gärtner was also Development Strategy Manager in the Statkraft/ Aker Offshore Wind/ bp consortium exploring opportunities for Sørlige Nordsjø II prior to joining Magnora.
 
Gärtner started his career as a consultant in the field of renewable energy, energy efficiency and H2 in KanEnergi and SWECO, and has spent one year in Tanzania, working with small scale solar and bio energy solutions.
 
Gärtner holds a Master of Science in Mechanical Engineering from the Norwegian University of Science and Technology (NTNU) and an Executive Master in Energy Management from the Norwegian School of Management (BI), IFP School and ESCP Business School (Paris).
 

Number of shares: 7000

Number of share options : 25 000

trond.gartner@magnoraasa.com

Gisle Grønlie

EVP Legal and M&A

Mr. Gisle Grønlie has a background as an inhouse lawyer in various corporate business segments and has served on several leadership teams and boards.
 
Operationally he managed a team of contract professionals and lead the Equinor Portfolio and spent a year in Aberdeen as legal counsel in 2008. He has since 2017 been co-chair to Legal Forum for the Federation of Norwegian Industries (Norsk Industri).
 
Gisle Grønlie holds a Cand. Jur degree from the University of Oslo. As part of his degree he spent a period with Equinor in Tehran. He also had a stay with London School of Economics
 

Number of shares: 34 500

Number of share options : 25 000

gisle.gronlie@magnoraasa.com

Emilie Brackman

VP Wind & Solar

 
Emilie Brackman has a background from consulting and joined Magnora from DNV with the renewable advisory team located in Oslo. She has acted as technical advisor on behalf of DNV during the construction of several 100MW+ wind farms in Norway and been responsible for managing technical due diligence projects for lenders, investors and developers of onshore wind in Scandinavia. Since 2018, Brackman has focused on the offshore wind industry, delivering market analyses, benchmarking studies, technical qualification, and due diligence to Norwegian and international customers on behalf of DNV. Brackman has also worked with structural analysis of offshore floaters and mooring, inspections of ships and offshore structures, and finally surveys of offshore structures for larger customers globally.
 
Brackman holds a Master of Science degree in Naval Architecture from Newcastle University in the UK, and a bachelor’s of degree in Mechanical Engineering from l’Institut National des Sciences Appliquées (INSA) de Toulouse in France.
 

Number of shares: 2 600

Number of share options : 25 000

emilie.brackman@magnoraasa.com

Espen Erdal

VP Business Development

 
Espen Erdal has a background from consultancy, and joined Magnora from DNV within Renewables Advisory in Oslo. He has held business development position for the Nordics and Baltics market area for DNV’s offerings within the renewable industry, and has been responsible for due diligence of wind farm development. Prior to his time at DNV, Erdal worked 4 years at Dr. Ing. A. Aas-Jakobsen, one of the major structural engineering consultants in Norway, where he worked with design and analysis and followed several projects from design through construction both in Norway and internationally.
 
Erdal holds a Master of Science degree from Norwegian University of Science and Technology (NTNU) with a combination of the fields of structural engineering and renewable energy. As part of this degree he spent one year at the University of California, Berkeley.
 

Number of shares: 17 174

Number of share options : 75 000

espen.erdal@magnoraasa.com

Haakon Alfstad

CEO Magnora Offshore Wind

Haakon Alfstad has broad experience as Senior Vice President in Statkraft AS and as leader in Naturkraft and in Statkraft Engineering AS. Alfstad has gained leadership- and project experience in Statkraft since 1987. He has also served as Chairman and Board Member in several Boards.

Alfstad was responsible for development, engineering and construction of Statkraft’s energy related portfolios within hydropower, wind power and gas fired power over a period of 17 years. He was responsible for several big projects within wind-power – on- and offshore, and has participated in the entire value chain from early greenfield to completed projects based on organic growth and M&As.

Alfstad holds a Master Degree in Mechanical Engineering from The Norwegian Institute of Technology (NTH) in Trondheim and Business Candidate from Norwegian School of Management, Oslo (BI).

Number of shares: 61 177

Number of share options : 200 000

haakon.alfstad@magnoraasa.com

Erik Sneve

CEO

 
Mr. Sneve has considerable experience from various positions in the investment industry and renewable industry in Norway and abroad for over 20 years. He has experience from working as an analyst, consultant and investment director in EY, DnB Markets, Energy Future Invest (EFI – a Statkraft, Hafslund and Eidsiva Energi joint-venture), Tore Tønne and Torstein Tvenge. He has worked internationally in the US, Sweden, Germany and opened offices in the UK and Sri Lanka.
 
He was also responsible for the Solibro AB (a Swedish solar technology company) development, construction and exit for EFI. Mr. Sneve has also operational experience working as a COO in an early stage 3D software company building an international organization working within the mobile telephony and health care industries. Mr. Sneve holds a B.Sc. in Finance from Arizona State University with Summa Cum Laude.
 
 

Number of shares: 1 212 061

Number of share options : 150 000

es@magnoraasa.com

Bård Olsen

CFO

Olsen holds a B.S. in Finance and MBA from Arizona State University, and has considerable experience from various controller, external auditor, and internal auditor positions in the US.

Before joining Magnora, Olsen was Vice President of Global Compliance in MHWirth, a drilling equipment company within the Aker Group, and held over 9 years various positions within the group, including Head of Internal Audit at Aker Solutions.

He has also worked at EY in the risk and internal control advisory role for banks and financial institutions in Oslo, Norway.

Number of shares: 50 000

Number of share options : 100 000

bo@magnoraasa.com