Press release -
Kvasir Technologies Appoints New CFO as the Company Moves Toward Commercialization
Kvasir Technologies, a leading green startup in sustainable biofuel innovation, proudly announces the appointment of René Østergaard Palne as its Chief Financial Officer (CFO), effective December 1, 2023.
René brings extensive experience in corporate finance, including international roles in the oil and gas industry in the Middle East and the Netherlands. His background spans both conventional and green energy sectors, positioning him perfectly to advance Kvasir's mission as the company moves toward commercialization.
Most recently, René served as the Finance Director in Haldor Topsøe's newly established PtX division, where he oversaw financial responsibilities, secured investments, and contributed to growing the division to +200 employees and massive technology investments in just two years. This experience equips René with insights into both the traditional energy landscape and the fast-growing green energy sector.
René Østergaard Palne's appointment is a significant milestone for Kvasir Technologies, enhancing the company's ability to advance its proprietary waste-based biofuel technology. This innovative solution has the potential to dramatically reduce emissions in hard-to-abate sectors, such as the marine industry.
"I can’t wait to join Kvasir Technologies," René said. "Kvasir's mission is truly inspiring, and the technology is unmatched, being simple, scalable, and sustainable. It’s impressive how Kvasir’s founders, Joachim and Anders, have pulled together a team of such highly skilled and competent people, and I’m truly humbled to be the newest member of the team. I’m joining at a very exciting time with rapid growth and commercialization just ahead. The market and impact potential are massive!”
Joachim Bachmann Nielsen, CEO of Kvasir Technologies, added, "We are pleased that René is joining and bringing his executive expertise to our team. His financial acumen and insights into the energy industry will be invaluable as we prepare for our Series A financing and beyond, especially as we aim to supply green fuels to a market in urgent demand.”
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Kvasir Technologies is a Danish company that has developed a game-changing technology to produce climate friendly fuel for hard to abate industries. Kvasir converts non-edible waste-based biomass into a 1:1 substitute for fossil fuel in a simple, sustainable, and scalable way. We offer a CO2 neutral drop-in biofuel with no switching costs or added storage cost. Our solution bolts on to the current marine fuel supply chain. This allows for full flexibility in terms of handling both existing fossil fuels and green biofuel interchangeably in a seamless transition towards complete decarbonization. Founded in 2018 by Joachim B. Nielsen and Anders B. Kristoffersen, Kvasir is a spin-out from the Technical University of Denmark. The company runs pilot activities in Denmark and in the US and plans to build its first demo plant in Fredericia, Denmark.
