BGA Invest entered Minesto as a lead investor in 2011 and has been the lead investor for over more than a decade, advancing Minesto's innovation to the world's most valuable ocean renewable energy technology.

Bengt Adolfsson has been a main driver in focusing board work and strategy discussions on customers and commercial partners. Mr Adolfsson's strong track record of growing businesses also includes transforming Hilding Anders Group from a small-scale local business into today's leading global bedding and mattress group with a billion-dollar turnover.

With a long and successful career, Bengt Adolfsson has decided to retire at the age of 75.

"Both personally and on behalf of the Minesto team, I would like to thank Bengt for his vital long-term commitment to Minesto and steadfast support on a journey that not always is straight and downhill", said Dr Martin Edlund, CEO of Minesto.

BGA Invest and Bengt Adolfsson has not only contributed with financial resources as the lead investor with nearly 200 MSEK, but also lent significant support in board work.

"The world needs more investors like Bengt Adolfsson that truly push the renewable agenda with action," said Dr Martin Edlund.

Git Sturesjö Adolfsson, CEO of BGA Invest, remains on the Minesto board and will continue to contribute to Minesto's commercial roll-out.