Archived News
Tysvar Announces New Chief Executive Officer, New Client:
Terje Mikalsen named CEO; Relationship created with Prediktor AS
St. Paul, Minnesota, June 4, 2010 – Tysvar Founder and Chair Lois Quam announced the firm has chosen Terje Mikalsen to be the new Chief Executive Officer. “There are few business people in the world with Terje’s track record of success,” said Quam. “His vision and global business experience will position Tysvar for continued growth both in Norway and here in the United States.” Tysvar announced last November that Quam would relinquish her equity stake in the firm and install a new CEO to manage day-to-day operations. Mr. Mikalsen will assume his new role effective immediately.
Mr. Mikalsen is regarded as one of Norway’s most successful technology investors and entrepreneurs. He 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 technology, health care and alternative energy companies including Hafslund Nycomed, Tandberg and Energos. From 1993 to 2000 he was on the Board of Norwegian Cruise Lines, serving most of that time as Chairman.
Putting into practice his belief that business and entrepreneurship can help alleviate poverty, Mr. Mikalsen has served since 2007 as part-time CEO of a small telecom company in Uganda that imports and refurbishes used mobile phones and distributes them as payphones to the country’s budding entrepreneurs.
He was elected as a life-time member of the Norwegian Technical Science Academy in 1993, given the Golden Mouse Award by Computerworld in 1996 and awarded Entrepreneur of the Year in 1999. He has been a member of the Norwegian Prime Minister’s Industrial Advisory Committee under three different governments and served on the Board of SND, now part of Innovation Norway, the national business development organization.
New Business
Along with the appointment of Mr. Mikalsen, Tysvar also announced that an agreement was reached with Prediktor AS, a Norwegian manufacturer of software solutions that make manufacturing and production processes more efficient. The corner stone of Prediktor’s solutions is the proprietary real-time APIS software, currently being used in a range of industries, including solar, maritime, food, feed, oil and gas. Tysvar will oversee Prediktor’s United States subsidiary with a particular focus on North American distribution and the formation of strategic relationships. “Prediktor’s comprehensive system for on-line content monitoring of production processes will greatly benefit the food and feed industry here in the United States,” said Mr. Mikalsen.
Prediktor AS joins a growing list of clients for Tysvar, including Hybrid Energy AS, a Norwegian manufacturer of environmentally friendly industrial heat pumps, and AquaFence, which manufactures transportable flood protection barriers that can be rapidly deployed when there is a recognized danger of flooding. AquaFence was used successfully in March 2010 by the City of Fargo, North Dakota to fight the Red River floods.
Tysvar is a privately-held strategic advisory firm focused on emerging business opportunities in clean technology 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.
Media Contact: Bob Hussey (612) 281-8741 or bob@bobhussey.com
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.