Swedish wood-based wind turbine tower company Modvion has appointed Maria-Lina Hedlund as its new chief executive, the company said on Wednesday, marking a leadership transition aimed at supporting its growth strategy and product development.
Hedlund, who previously served as the company’s chief financial officer, replaces co-founder Otto Lundman with immediate effect. Lundman will remain with the company in a full-time strategic business development role.
The company said the change is intended to bolster Modvion’s focus on maturing its product offering and strengthening strategic partnerships as it moves toward industrial scaling.
“In her role as CFO, Maria-Lina Hedlund has been a key person for Modvion,” said board chairman Kent Sander. “Her deep understanding of Modvion’s operations and vision allows her to elevate the company to new heights.”
With a background in engineering and professional experience at firms including Siemens, Volvo, and Azelio, Hedlund combines financial, technical, and strategic expertise, Modvion 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,” Hedlund said. “While much is evolving, we will stay true to what sets Modvion apart: our pioneering innovation and our strong, values-driven culture.”
The company’s wooden wind turbine towers are designed to serve the expanding market for 6-megawatt onshore turbines, offering an alternative to traditional steel towers with potential benefits in sustainability and logistics.
Lundman, who helped found the company, expressed support for the transition. “I’m very proud of the work we have done so far and looking forward to this next chapter,” he said. “Now I can focus my time on our strategic partners and developing relationships to build Modvion’s future.”
Modvion said the leadership change is aligned with its long-term plan to scale up industrial production and expand its role in the renewable energy sector.
