Greentech Energy Systems A/S announced that the board of directors has performed a review of the composition of the management board in light of the strategy of the company and the resignation of Mark Fromholt as CFO. Based on the above, the board of directors has made the following changes of the management board; Mr. Michele Lerici, the Company's current COO replaces Mr. Mark Fromholt and takes up the position as CFO of the Group; Mr. Alessandro Reitelli has been appointed as new COO of the Group. Mr. Reitelli has 18 years of experience in finance and operations that he acquired as a consultant in Arthur Andersen and at management level in a listed group, in Europe and North Africa.

Mr. Eugenio De Blasio steps down as deputy CEO and exits the Group to start other professional challenges. This position will not be replaced.