The idea of S2H2+Bm was brought to life by Magnus Pousette in 2018, when the large-scale Noor Abu Dhabi solar plant was announced in the UAE. The project claimed an equivalent cost of energy at ~$10/barrel Brent. With such low energy cost, Magnus believed that large-scale, solar-based hydrogen production would probably be able to compete head-to-head with batteries for energy storage, coal as an industrial reductant, and hydrogen production from natural gas.
In March 2020, Magnus and engineers began a groundbreaking project, targeting hydrogen costs at or below $2/kg. To maximize the PV plant’s efficiency, it needed to be located near the solar park to avoid costly electricity transmission. Remaining in Direct Current for the combined solar and hydrogen plant further reduced costs compared to converting to Alternating Current.
Traditional solar plants occupy vast land, incurring substantial costs. A solution was sought to eliminate these costs while minimizing panel cleaning expenses. Also, when elevated, solar panels can provide about 50% shade and enable potential for biomass production in desert land where early-stage plants normally “fry” due to lack of ground moisture.
Using public data from existing solar and hydrogen plants, the team arrived at the target cost/price below $2/kg green hydrogen, at a first stage capacity of 500kton per year. During 2022 this number was verified by several organizations, and in 2023 likewise by the consulting firm Ramboll. As of today, work to secure IP rights is in progress and two PV-demos will be built in Sweden during 2023.
S2H2+Bm is paving the way for affordable and sustainable hydrogen production. Because all else the same, lowest cost of energy will equal lowest cost of green hydrogen.
Magnus Pousette is the MD and founder of S2H2+Bm Concept AB, and acting chairman in the present phase.
Prior to this role Magnus founded RRR Consulting and VOEE Services in 2015, after successfully divesting the ABB Full Service (strategic outsourcing of industrial maintenance) global business unit in 2014. It was a +$600m, +3,000p business in 30 countries managing +$2b of customers maintenance spend. Before ABB Magnus worked at; Dellner Couplers, vice president and COO for Morgårdshammar, a division of Danieli; General Manager for the Nordic arm of Heckett MultiServ (today Harsco); SKF Steel/Ovako Steel at the Hällefors works.
Magnus holds a Master of Science in Metallurgy and Materials Technology from the Royal Institute of Technology (Stockholm).
Fredrik Waker is the Financial Director of S2H2+Bm Concept AB.
Apart from his work with S2H2 Fredrik is contracted by Talenom, an agile and progressive accounting firm established in 1972 with the vision to provide superior accounting and banking services for SMEs. Fredrik is responsible for Business Development and M&A in Sweden.
Prior to this Fredrik worked as founder/owner/consultant at Wakers, which was acquired by Talenom in 2019. He had several interim CFO roles, and e.g. two in publicly traded companies; KnowIT AB (publ) and ARK Travell AB (publ).
Fredrik is a chartered accountant, has an MBA from the University of Stockholm, and is a non-executive director on the board of P2 Energi AB and its subsidiaries.
Richard Löwnertz is the Technical Director of S2H2+Bm Concept AB, and secretary of the advisory board.
Richard has a background in product and process development in metal manufacturing and has for several years worked in that capacity with Suzuki-Garphyttan, a world leader in advanced spring wire. Prior to that he worked with a startup company developing a near net shape production method for steel wire. Richard also has experience from large size commercial ship repair, and heavy steel contract manufacturing.
Richard holds a Master of Science in Metallurgy and Materials Technology from the Royal Institute of Technology, Stockholm.
Anders Werme is the Sales Director of S2H2+Bm Concept AB.
Anders holds a MSc in Metallurgy and Materials Science, a PhD in Production Technology – Mining and Steel Industry and is an associate Professor at the Royal Institute of Technology, Stockholm.
The career encompassed more than 20 years with SSAB Swedish Steel where Anders were project leader for major investment projects, sales manager for SSAB in Asia Pacific and president for SSAB Oxelösund (+2000 pp) and SSAB Strip Steel (+4000 pp).
From 2007 until 2021 Anders worked out of Luxembourg for ArcelorMittal where he held leading global positions within strategy and longer-term product development, especially for the Energy Sector.
Jon Fangel is our Chief Doer and Intrapreneur. He is also a senior consultant at Sandholm Associates and an expert in business development and company transformations.
His experience in lean transformation encompasses both traditional organisations and entrepreneurial groups. During his long career, he was worked with privately-owned and publicly traded companies such as Scania, Kunskapsskolan, Plagazi, Gexco, and Norsk Hydro. He specialises in a hands-on, change and improvement management approach which includes data collection, analysis, and visualisation.
Jon Fangel holds a Master of Science in Metallurgy and Materials Technology from the Royal Institute of Technology (Stockholm)
Hans Söderhjelm is our in-house technical and market development coach, pragmatically questioning our plans and often coming up with something better.
Prior to this role Hans worked at Höganäs AB – a world leading powder metallurgical company – in various senior management positions since 1984. Most recently he was head of group R&D and a Senior Advisor to the board.
Hans holds a Master of Science in Metallurgy and Materials Technology from the Royal Institute of Technology (Stockholm), and a Licentiate of Technology also from the Royal Institute of Technology.
Board of Directors
Johan Hedlund is a non-executive director of the board of S2H2+Bm Concept AB since December 2021.
Johan is employed by Duroc AB and is responsible for Sustainability, Business Development and HR for the group.
Johan joined Sandvik in 2005 for the Machining Business. After various positions as head of HR, Quality, EHS and Sustainability, he became Vice President for business area Sandvik Materials Technology and then Sandvik Mining & Rock Technology. During the 15 years that Johan worked for Sandvik he also had the position Country HR Manager for Sandvik US and Country Manager for Sandvik Sweden.
Prior to Sandvik, Johan worked as a consultant for 13 years servicing major Swedish companies primarily in the Manufacturing- and Pulp & Paper sectors.
Johan serve on the boards of Universal Power Nordics (Sweden), Cotting Group (France and Belgium) and Drake Extrusions (USA), all part of the Duroc group. Johan holds a B.Sc in Finance from University of Stockholm, School of Political Science.
Cecilia Tayarth is a non-executive director of the board at S2H2+Bm Concept AB since August 2022.
Cecilia works as International Business Developer at EFO AB. Prior to this position she worked as a management consultant for Business Sweden, supporting Swedish companies with international growth.
While at Business Sweden, Cecilia lived and worked in Indonesia, the Netherlands, Morocco and France, and specialized in supporting Swedish companies in the energy sector. She is fluent in Swedish, English and French.
Cecilia holds two master’s degrees; a MBA from Quantic School of Business and Technology and a MA in International development from Sciences Po. She earned her bachelor’s degree from Stockholm School of Economics.
Jan Pieters is a non-executive director of the board of S2H2+Bm Concept AB since April 2023.
Jan has a distinguished career in the Swedish steel industry with several CFO and CEO roles; CFO at Avesta Sandvik Tube AB, and then plant manager for the Nyby plant, CEO Fagersta Stainless AB and most recently CEO Suzuki Garphyttan AB.
Presently Jan is Chairman of the Board of Degerfors Förzinknings AB (DEFAB), and a board member of Ovako Group AB, Skyllbergs Bruk AB, and Ecopolplast sp. Zoo (PL).
Jan holds a bachelor’s degree in business administration and finance from the Umeå University, Sweden.
Ia Modin is the legal advisor of S2H2+Bm Concept AB, and the co-opted secretary to the Board of Directors.
Ia specializes in intellectual property and commercial contract law, with a focus on innovation, industrial collaborations, and commercialization with notable proficiency in negotiating and drafting agreements for long-term partnerships.
Ia is a partner at Gozzo Advokater. Before entering private practice, she worked at Vinnova (the Swedish Governmental Agency for Innovation Systems), leading its work to facilitate commercial use of research results through a better understanding of contract law and the use of intellectual property.
Ia Modin is President Elect of LES Scandinavia, the regional chapter of Licensing Executives Society International (LESI) for which she is also a co-chair of the Committee CEEM (Chemicals Environment Engineering and Materials). She is an appreciated keynote speaker on innovation and lecturer on contract law and intellectual property law.
Knowledge, experience, foresight, network and much more comes with people who have this. As much as we look for these traits in employees and directors of the board, this cannot meet our ambitions for depth, and nor in width. In addition, the people on our advisory board are not in the market to hire, and not interested in the rather formal requirements and responsibilities to represent the owners and other stakeholders on a BoD.
Anders Ullberg is our critical and big thinker.
Anders was until recently the Chairman of the Board of Boliden, and is a member of several other boards in both publicly traded companies, as well as unlisted. He is in his own right a leading and independent individual in Swedish industry and governance.
Pierre Bengtsson is our expert on PV-panel mounting and fastening systems. He has built a SEK½bn company from scratch to a world leader in mounting mobile antennas and other devices, e.g., battery power back-up with PV-panels, high up in towers and on buildings in a cost effective and safe way.
Pierre has not just developed subject matter expertise, but great hands-on leaderships skills, and the rare ability to lead the development of a technology from a possibly fantastic idea to actual commercial success.
He has received accolades such as Entrepreneur of the Year (twice!) and Dalarna’s Leader of the Year.
Pierre received his High School diploma in electrical power generation and distribution in Borlänge before starting his entrepreneurial career.
Pierre is married and has two sons, and lives in Nacka, Sweden. He also has a history on the motor cross tracks and is a vivid down-hill skier.
Klas Sandström is our hydrologist and water resources and biomass expert.
Klas is a World Bank Consultant and Senior Advisor to the Ministry of Energy and Water Resources, Federal Government of Somalia.
He is an international consultant with a demonstrated history of working in the environmental services industry. Skilled in Sustainable Development, Environmental Awareness, Climate Change, and Water Resource Management. Strong and innovative professional with academic studies at University of Lund and California, and with a Doctor of Philosophy degree in Tropical Hydrology and Water Resources Management from the University of Linköping.
Olle Lilja is our senior advisor on photo voltaic energy production.
With several assignments in the PV industry, Olle is an experienced consultant with a focus on feasibility studies and advice on PV energy engineering designs.
Olle got his basic experience in the energy production field as a process engineer at the Ringhals Nuclear Power Plant.
For the past 15 years, Olle has been engaged on C-level managing new and established companies in the PV energy and charging infrastructure arena.
In addition to his technical and commercial knowledge, Olle has a strong commitment ensuring that the products and services offered to the market are sustainable throughout their life cycle, i.e., traceable from materials production to dismantling and recycling.
Olle is a certified energy consultant with an open mindset. Thus he can see the big picture in major industrial PV projects and contribute with innovative engineering solutions.
Jan Blomgren is our expert on large-scale power and electrification systems. He is the author of the best-selling book “All you need to know about the Swedish electricity sector”, and he is frequently consulted by politicians on various strategic energy issues.
He is the CEO and founder of INBEx (Institute of Nuclear Business Excellence), focused on nuclear power leadership, as well as the CEO of KraftAkademin, a centre of excellence on nuclear power technology. Previously, he has been professor in applied nuclear physics at Uppsala University, nuclear competence strategist at Vattenfall and Director of the Swedish Nuclear Technology Centre.
Håkan Werner is our expert on gas; handling, storage and especially shipping. Håkan worked for a large part of his career developing and building global value chains for LNG, petrochemical gases and CO2. Håkan is Senior advisor at Kanfer Shipping AS.
Håkan holds a MSc in Metallurgy and Material Technology from the Royal Institute of Technology (Stockholm), and an MBA from IMD (Lausanne, CH).
Thomas Berglund is our IoT and Digitalization expert. He has the quite unique capability of seeing the business value in applied information technology being both a hardware and software guru, understanding IT on a chip- and code-level respectively, combined with high-level business acumen.
This capability comes from +20 years of hard-earned hands-on experience, a notorious interest in new advancements in the field and a grounded belief in a well-developed common sense.
In his most recent position, he led Coop Värmland, a SEK3bn grocery chain, to a data driven absolute best in class company within the segment, and within the Coop group of companies in Sweden. Integrating and developing a state-of-the-art ERP with databases, sub-systems all the way to smart hand-held devices on shop-level. In addition, he did this using strategic outsourcing, and thus also achieved a total IT-cost level less than half of industry peers.
Prior to starting his career within Coop Värmland Thomas was an employed consultant working with clients with web-development, e-learning platforms, database development, and business logic systems.
Thomas has studied computer science and advance coding since high school, continued with studies in Information Technology and Theoretical Psychology (Man-Machine Interaction) at Karlstad University and did post graduate studies at the same school in Industrial Project Management 2005.
Thomas is married and has a daughter and a son, and lives in Karlstad, Sweden. He is a boating man and have commercial grade boating certificates.
Gunnar Broberg has been supporting the S2H2+Bm concept development since 2020.
Employed at SSAB Special Steels, Gunnar is responsible for development of powder metallurgical products. Prior to his current position Gunnar began his career in 2019 within SSAB’s technical development program, following internship and thesis work at Outokumpu Stainless in Avesta.
Gunnar holds a Master of Science in Materials Design and Engineering from the Royal Institute of Technology (Stockholm).