Waves4Power CEO quits

The Chief Executive Officer (CEO) of Waves4Power, Ulf Lindelöf, has resigned from the position after five years.

The Swedish wave energy developer said the reason behind Lindelöf’s decision to leave the company lies in the disagreement with Waves4Power’s board on the future governance of the company.

Bengt Mårlind has been appointed as interim CEO of Waves4Power, until the appointment of a new CEO for the company.

Mårlind, a member of Waves4Power’s board, has extensive experience from corporate management, both as CEO and Chairman of the board, the company said.

To remind, Waves4Power last week marked 5 months of power export from its WaveEL wave energy plant to the Norwegian grid from the Runde test site.

Waves4Power developed a WaveEL wave energy device that produces electricity using hydraulic pump which is connected to the accumulator that feeds a hydraulic motor with a generator, which in turn converts the hydraulic pressure to electric power.

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