PRESS /
Bo Normark Joins Decade Energy as Advisor to Further Advances in Electric Vehicle Economics
Paris, France, Wednesday 21 August 2024
Summary
- Bo Normark joins Decade Energy as Advisor on electricity and grid flexibility markets.
- Improvements in electric fleet economics and grid flexibility are critical to meet EU emissions targets.
- His role will focus on product development, strategy and recruitment advisory.
Decade Energy, the logistics electrification and energy management service provider, has appointed Bo Normark as Advisor on electricity and grid flexibility markets. Building on a distinguished career within ABB, Bo has in recent years become a leading figure and voice in the European energy transition. Through his role as Industrial Advisor to investment companies Vargas and EIT InnoEnergy, Bo has supported investment in and development of companies such as Northvolt, H2 Green Steel and Verkor.
Reinforcing Decade Energy’s commitment to cost-competitive electric transport
Beyond strengthening Decade Energy’s network within the European energy transition, Bo will advise Decade Energy on product development, strategy and recruitment. The appointment reinforces Decade Energy’s commitment to helping logistics operators achieve cost-competitive electric transport operations by optimizing the energy consumption of logistics depots and electric fleets.
“Bo’s deep experience and understanding of European electricity markets is a great complement to the logistics and electric vehicle background of the Decade Energy founding team. Consuming electricity efficiently and maximizing asset utilization, whether charging infrastructure, batteries or solar panels, is essential to achieving electric fleet economics that are superior to diesel alternatives”.
– Casper Norden CEO of Decade Energy
Economics and grid services are critical to meeting emissions targets
Over 6.5 million trucks and 35 million vans today operate on European roads [1]. Together with Europe’s 700 thousand vehicle bus fleet [2], these vehicles represent about 10% of CO2 emissions in Europe [3]. The EU has passed ambitious legislation to reduce emissions in the sector, including Regulation 2024/1610 which stipulates a 45% reduction in emissions for the fleet of heavy-duty vehicles produced from 2030 onwards compared to 2019 levels.
For a sector that employs directly over 10 million people in Europe [4], any credible path to achieving decarbonisation at the required scale in the stipulated time frame will require electric transportation to be cost-competitive to fossil-fuel alternatives. Additionally, electric heavy-duty vehicles and their infrastructure will need to integrate with the wider electricity grid to support the sharp increase in associated electricity consumption.
“Software that optimizes commercial vehicle electricity consumption and alleviates grid constraints will be critical to supporting sector emissions reductions in line with targets. Decade Energy’s transport electrification and energy management solutions are an important enabler in the push for electrification of commercial transportation. I look forward to supporting the team on building products that are useful to both transport operators and the wider European power system.”
– Bo Normark, Advisor to Decade Energy
For further information, please contact:
Casper Norden
CEO
casper.norden@decade.energy
+33 66 654 3525
+46 70 230 4071
Sources
- ACEA, “Vehicles in Use in Europe 2023”
- ACEA, “Vehicles in Use in Europe 2023”
- European Environmental Agency, “EU Greenhouse Gases”
- European Commission, “Sustainable & Smart Mobility Strategy”