The wood technology company, Modvion, that designs, supplies and installs wind turbine towers made of wood is embarking on a new chapter. Maria-Lina Hedlund, previously CFO at Modvion, will assume the role of CEO, effective today, succeeding the company co-founder, Otto Lundman. This change in leadership supports the company focus on product maturation and strengthening partnerships for future growth. 

Maria-Lina Hedlund has been a cornerstone of Modvion’s leadership team since 2020, serving as Chief Financial Officer. 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.

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.” says Kent Sander, Chairman of the Board. “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 6-megawatt onshore wind turbines.

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.” says Maria-Lina Hedlund.

Otto, a founding member of Modvion, has successfully guided the company from its inception to the development of a commercial product. Prior to the arrival of his second child, Otto requested a change in role to prioritise his growing family after 10 years of leading the company. Otto Lundman will remain at Modvion to work full time with business development, leveraging his invaluable experience to build further value.

I’m very proud of the work we have done so far and looking forward to this next chapter.” Says Otto Lundman. “Now I can focus my time on our strategic partners and developing relationships to build Modvion’s future.”