Archived News

Tysvar Announces New Clients, Leadership Reorganization:

Relationships Created with Energy AS, AquaFence,

Bellona Foundation and the University of Tromso;

Quam to Reorganize the Firm’s Leadership

St. Paul, Minnesota, November 24, 2009 – Tysvar Founder and CEO Lois Quam announced today the firm has secured its first set of clients, including a leading manufacturer of industrial heat pumps, a Foundation dedicated to finding sustainable solutions to climate change, a company offering an eco-friendly solution to flood protection and the world’s northernmost university. “When we founded Tysvar last spring, we set out to build Norwegian-American partnerships around the clean energy economy,” said Quam. “We are off to a tremendous start.” All four relationships are with organizations based in Norway, where the firm has focused its initial business efforts. Tysvar believes Norway will be a hotbed of investment activity for new green economy ventures.

New Business

Agreement was reached with Hybrid Energy AS, a Norwegian manufacturer of environmentally friendly industrial heat pumps. Using a combination of pure water and ammonia, Hybrid Energy’s heat pumps allow manufacturers to save money on heating costs while reducing their carbon emissions. Tysvar will assist Hybrid Energy’s entrance into the U.S. marketplace, overseeing sales and distribution and serving as the company’s business representative in the United States. “For us to be able to work with Tysvar is a gift,” said Bjarne Horntvedt, general manager of Hybrid Energy.

Similar to the relationship with Hybrid Energy, Tysvar will serve as the U.S. representative for AquaFence, a Norwegian manufacturer of transportable flood protection barriers that can be rapidly deployed when there is a recognized danger of flooding. After the rain, sea or river water has receded the flood barrier can be quickly dismantled, cleaned and stored for the next event. AquaFence barriers replace sandbags, which can become contaminated during a flood event, requiring subsequent disposal as hazardous material. Tysvar will help AquaFence establish U.S. distribution channels. “We’re delighted to work with someone of Lois’ experience and track record,” said Helge Krogenes, Chairman of AquaFence. “She has a deep understanding of the U.S. marketplace.”

To broaden the firm’s business development efforts, Tysvar has begun working with Terje Mikalsen, regarded as one of Norway’s most successful technology investors and entrepreneurs.  “We’re delighted to partner with a leader of Terje’s depth and experience,” said Quam.  “He was instrumental in helping us form relationships with Hybrid Energy and AquaFence.” Mr. Mikalsen was educated as an engineer at the Norwegian University of Science and Technology and headed the development of the world’s first computerized radar system for collision avoidance at sea.  In 1967, he co-founded Norsk Data, which manufactured the world’s first 32-bit minicomputer, and has been an active owner and board member in several other companies including Venturos, Hafslund Nycomed, Tandberg and MediaBin.  In 1999, Mr. Mikalsen received “The Norwegian Entrepreneur of the Year” award.

Tysvar has also agreed to work with the Bellona Foundation, an environmental organization based in Norway. Bellona has been active in working with governments, nongovernmental organizations (NGOs) and businesses to create practical and sustainable solutions to global warming. Tysvar will provide the Foundation with advice on its strategy and work with Bellona to create new public-private partnerships designed to promote the private sector’s transition to the new green economy. “As we approach the global negotiations at Copenhagen, we are fortunate to work with Tysvar on the best ways to bring the green economy to scale,” said Frederick Hauge, President of the Bellona Foundation.

Tysvar will serve as a strategic advisor to the University of Tromsø, the northernmost University in the world and a leader in Arctic environmental research. Tysvar will provide advice and counsel as the University develops its future strategy for transforming its cutting edge research into practical solutions to combat climate change.

Leadership Transition

Quam also announced she will be installing a new CEO of Tysvar early next year. She will remain affiliated with the firm and serve as non-executive Chair of the Board. In connection with the change in leadership, she will relinquish her equity stake in Tysvar and take an annual salary of $1 while serving as Chair. “Naturally, with the election one year away,” said Quam, “I want to devote more time to campaign alongside Matt as well as eliminate any potential conflicts of interest.” Quam’s husband, former Minnesota House Democratic Leader Matt Entenza, is currently seeking the DFL nomination for Governor of Minnesota. The selection process for a new CEO of Tysvar is well underway. The target date for completing the leadership transition is February 1, 2010.

Tysvar is a privately-held strategic advisory firm focused on emerging business opportunities in the new green economy and health care.  We provide support to the people and organizations developing the health care and clean technology solutions for the 21st century global economy.  Our goal is to help create a healthier, more sustainable world for the next generation.