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About QleanAir

QleanAir is the premium provider of solutions for clean indoor air in professional environments. The company’s business model is based on rental contracts for modular solutions with a full-service offer. QleanAir solutions are developed using a filter technology that captures, filters and recycles indoor air. The company’s main markets are EMEA, APAC and the Americas. QleanAir’s head office is located in Solna, Sweden.

The share is traded on Nasdaq First North Premier Growth Market, ticker: QAIR, ISIN SE0013382066.


Press releases

2024

Avtalet avser en 503(A) renrumslösning för deras nya anläggning i Gilbert, Arizona. QleanAir AB (publ), premiumleverantören av lösningar...
The agreement is for a 503(A) cleanroom suite for their new location in Gilbert, Arizona. QleanAir AB (publ), the premium provider of clean indoor environment...
On 8 May 2024, the annual general meeting was held in QleanAir AB (the “Company” or “QleanAir”). On the same day, the Company issued...
Den 8 maj 2024 hölls årsstämman i QleanAir AB (”Bolaget” eller ”QleanAir”). Samma dag offentliggjorde Bolaget en...
2024-05-08 15:30 Annual general meeting held in QleanAir AB Regulatory
Today, the annual general meeting of 2024 was held in QleanAir AB (the “Company” or “QleanAir”). Below follows a summary of the...
2024-05-08 15:30 Årsstämman har hållits i QleanAir AB Regulatorisk
Idag har årsstämman 2024 hållits i QleanAir AB (”Bolaget” eller ”QleanAir”). Nedan följer en sammanfattning...
”Vi hade en stabil finansiell utveckling under första kvartalet, valutajusterat var tillväxten nästan 3%. Försvagningen av den...
"We had a stable financial performance in the first quarter, with currency-adjusted growth of almost 3%. The weakening of the Japanese yen affected...
QleanAir increased the delivery of cleaned indoor air to 7.24 (6.63) billion cubic meters per month at the end of the first quarter. This means an increase...
QleanAir ökade leveransen av renad inomhusluft till 7,24 (6,63) miljarder kubikmeter per månad vid utgången av första kvartalet...

Financial reports & presentations


Financial calendar

February 9, 2024 Fourth quarter and Year-end Report 2023
April 17, 2024 Annual Report 2023
May 8, 2024 First quarter 2024
May 8, 2024 Annual shareholders meeting
August 9, 2024 Second quarter 2024
November 8, 2024 Third quarter 2024
February 7, 2025 Fourth quarter and Year-end report 2024

Financial targets & strategy

Growth
QleanAir’s objective is to achieve an average annual rate of organic growth of approximately 10 percent in the medium to long-term.

Profitability
QleanAir’s objective is to achieve an EBIT-margin of 15-20 percent in the medium to long- term.

Dividend policy
QleanAir’s objective is that between 30-50 percent of the net profit for the year shall be distributed as dividends to shareholders. The dividend proposal shall take into account QleanAir’s long-term development potential, financial position and investment needs.

Strategy
QleanAir has a clear strategy for realizing continued capital efficiency and profitable growth for the Company. QleanAir’s strategic growth plan is focused on the following initiatives.

  • Expand the sales organization
  • New products and solutions
  • Strategic resource planning
  • Geographic expansion into new markets
  • Expansion into new customer segments
  • Launch new concepts and services

Business concept
QleanAir shall offer modular solutions for indoor air cleaning in order to protect people, products and processes.

Vision
QleanAir’s vision is to become a leading, global provider of premium, modular indoor air cleaning solutions.

Mission
QleanAir operates to create healthy indoor environments that contribute to improved productivity of people, products and processes.

Purpose
Making a real difference through clean air.



Sustainability

QleanAir has been developing solutions that protect people against indoor air pollution for 30 years. Environmental issues, social and corporate governance, health, and safety have been key priorities for QleanAir since the start. Our air cleaning solutions create a healthy and safe indoor environment for your people, ensure the quality and shelf life of your products, and guarantee the performance of your operations by for example prolonging the lifetime of your equipment. The QleanAir operating company is ISO-certified to environment standard ISO 14001 and quality standard ISO 9001. Our business model is based on renting modular solutions with a performance guarantee. The units and their parts are refurbished, reused, and recycled. A high proportion of operations is outsourced to suppliers who comply with the QleanAir code of conduct. This code of conduct is linked to our sustainability, quality assurance and environment, marketing and health and safety policies. Production and assembly take part on each continent to reduce delivery times and CO2 emissions. Since 2015 the group has quantified the amount of purified air per hour on an ongoing basis.

Cleaned air in billion cubic meters per month


Corporate governance

Corporate governance report

The company applies the Swedish Corporate Governance Code (the Code) and complies with applicable corporate governance laws, primarily the Swedish Companies Act and the Annual Reports Act. This corporate governance report is prepared in accordance with the Swedish Corporate Governance Code (the Code) and has been scrutinized by the company’s auditors. The corporate governance report refers to the calendar year 2020. The company’s share has been admitted to trading on Nasdaq First North Premier Growth Market since 12 December 2019. The Code has been applied since 12 December 2019. For more infomation, see the annual report.

AGM 2024

The company’s Annual General Meeting will be held on May 8, 2024, in Stockholm.

The nomination committee appointed for the 2024 AGM

Bengt Engström, Chairman QleanAir AB
Oskar Börjesson, appointed by Skandia
Dan Pitulia, representing Calandrella
Staffan Persson, representing Swedia Capital

Shareholders are welcome to send proposals to the nomination committee prior to the Annual General Meeting.

Contact information:
CFO henrik.resmark@qleanair.com

AGM / EGM

SWEDISH: QleanAir årsstämma den 8 maj 2024
SWEDISH: QleanAir extra bolagsstämma den 14 november 2023
SWEDISH: QleanAir årsstämma den 10 maj 2023
SWEDISH: QleanAir extra bolagsstämma den 9 mars 2023
SWEDISH: QleanAir årsstämma den 12 maj 2022
SWEDISH: QleanAir årsstämma den 12 maj 2021
SWEDISH: QleanAir extra bolagsstämma den 26 juni 2020
SWEDISH: QleanAir årsstämma den 13 maj 2020
ENGLISH: QleanAir AGM on May 8, 2024
ENGLISH: QleanAir EGM on November 14, 2023
ENGLISH: QleanAir AGM on May 10, 2023
ENGLISH: QleanAir EGM on March 9, 2023
ENGLISH: QleanAir AGM on May 12, 2022
ENGLISH: QleanAir AGM on May 12, 2021
ENGLISH: QleanAir EGM on June 26, 2020
ENGLISH: QleanAir AGM on May 13, 2020

Board of Directors

Bengt Engström, chairman

Born: 1953   Position: Chairman since 2020

Other current positions:
Chairman of Nordic Flanges AB, BEngström/BEngström Förvaltning AB, IFG Duroc. Board member of Bure Equity AB, Scanfil Oy, Real Holding AB, Scandinova Systems AB, Scandinavian Chemotech AB and KTH Executive School AB.

Previous assignments in the last five years:
Chairman/Board member of Prevas AB, Advania AB, Partnertech AB, Opticos AB, Crem International AB, Scandinavian Executive AB.

Other relevant experience:
Bengt holds a Master of Science degree from KTH and has worked in senior positions in various companies since the 1980s. Started as Director Production & Supply Chain at Bofors AB. Then various managerial jobs at Whirlpool such as Global VP Microwave Ovens, Europe VP Manufacturing &Technology and then EVP Whirlpool Corporation and President Whirlpool Europe. After moving home to Sweden, he was CEO of Duni AB and Nordic CEO Fujitsu. In recent years, he has worked as an advisor, board member and investor in both large and small companies.

Independent in relation to QleanAir and its senior executives: Yes.

Independent in relation to major shareholders (as of today): Yes.

Holdings in QleanAir: 22,000 shares (private and through companies, as well as related natural persons’ holdings).

Towe Ressman, board member

Born: 1966   Position: Board member since 2021

Other current positions:
Towe is today VP Global Design at Husqvarna Group AB where she started her career in 2006.

Previous assignments in the last five years:
Towe has previously held positions as core team member of the Virtual Innovation Lab and the Digital Solutions Planning and Connectivity Hub at Husqvarna Group.

Other relevant experience:
Towe holds a MSc Industrial Design from Gothenburg University and provides the board with solid industrial design expertise.

Independent in relation to QleanAir and its senior executives: Yes.

Independent in relation to major shareholders (as of today): Yes.

Holdings in QleanAir: 0

Fredrik Persson, board member

Fredrik Persson, born 1984, Master of Science in Engineering from Uppsala University, has previous experience in business development from Klarna and The Springfield Project and is currently working as an Investment Manager at Swedia Capital. He is holding board positions in a number of companies in the STIGA Sports Group, a number of companies in the Swedia Capital Group, Arctic Falls Aktiebolag, ETNetwork AB, GreenGold Group AB, Lundqvist Intressenter AB including a subsidiary, Optise AB and Spotlight Group AB. He is independent in relation to the company and management but not in relation to the company’s major shareholders (Swedia Capital AB).

Jan-Olof Backman, board member

Jan-Olof Backman, born 1961, Master of Science in Engineering from KTH Royal Institute of Technology and Master of Science from University of Washington. Jan-Olof has held several leading positions at McKinsey, Skanska and Coor Service Management. He is a board member and chairman in Credentia AB, Layer Group AB and Northclean Group AB and a board member Sveab Holding AB and Tagehus Holding AB. Within the five past years, Jan-Olof has, in addition to the ongoing assignments as listed above, been a board member and chairman in a number of companies in the 24Storage Group, Micro Systemation AB (publ) and Vasakronan AB (publ). He is independent in relation to the company and management and in relation to the company’s major shareholders.

Dan Pitulia, board member

Dan Pitulia, born 1956, Bachelor’s degree from Stockholm School of Economics. Dan has extensive experience of entrepreneurship in the life science industry. He has previous experience as managing director in QleanAir, Carmel Pharma and Entific and is currently working as managing director in Coala-Life AB and Coala-Life Group AB (publ). He is a board member in Pitulia&Co Ltd. Within the five past years, Dan has, in addition to the ongoing assignments as listed above, been board member and chairman in Neoventa Medical AB and a board member in companies in the QleanAir Group. He is independent in relation to the company and management and in relation to the company’s major shareholders.

Executive Management

Sebastian Lindström, CEO

Sebastian Lindstrom joined QleanAir Scandinavia as CEO in November 2022, has been a board member of the company since May 2022 and as CEO he will bring extensive commercial, operational and strategic experience to QleanAir. He has previously held several leading positions within various private equity-owned companies such as vice president of Granngården, interim COO of Bodilsen A/S and CEO of Atea Holding AB. He comes most recently from the role as the CEO of Crem International. Sebastian was born in 1965 and has a master’s degree in industrial economics from Linköping University.
For more detailed informa­tion on Sebastian, visit his LinkedIn page or contact him here.

210,000 shares, 445 776 warrants / subscription options

Henrik Resmark, CFO

Henrik Resmark was appointed as Chief Financial Officer for QleanAir Scandinavia in March 2013 and currently head the finance organisation. Henrik held other CFO and corporate finance positions before coming to Qlean­Air Scandinavia; most not­ably at Aros Securities / Nordea Securities, from 1998–2003 and NeuroNova (Newron), from 2003–2013.
Other current assignments:
Board member of Drupps AB.
For more detailed informa­tion on Henrik, visit his LinkedIn page or contact him here.

30 000 shares, 54 545 warrants / subscription options

Management

Sebastian Lindström, CEO

Sebastian Lindstrom joined QleanAir Scandinavia as CEO in November 2022, has been a board member of the company since May 2022 and as CEO he will bring extensive commercial, operational and strategic experience to QleanAir. He has previously held several leading positions within various private equity-owned companies such as vice president of Granngården, interim COO of Bodilsen A/S and CEO of Atea Holding AB. He comes most recently from the role as the CEO of Crem International. Sebastian was born in 1965 and has a master’s degree in industrial economics from Linköping University.
For more detailed informa­tion on Sebastian, visit his LinkedIn page or contact him here.

210,000 shares, 445 776 warrants / subscription options

Henrik Resmark, CFO

Henrik Resmark was appointed as Chief Financial Officer for QleanAir Scandinavia in March 2013 and currently head the finance organisation. Henrik held other CFO and corporate finance positions before coming to Qlean­Air Scandinavia; most not­ably at Aros Securities / Nordea Securities, from 1998–2003 and NeuroNova (Newron), from 2003–2013.
Other current assignments:
Board member of Drupps AB.
For more detailed informa­tion on Henrik, visit his LinkedIn page or contact him here.

30 000 shares, 54 545 warrants / subscription options

Pär Bergdahl, COO

Pär Bergdahl joined the company in 2016 as VP Strategic Sourcing, advanced to VP Operations in 2017 and promoted to COO Oct 2020 in with the global responsibility of Operations, R&D, and IT. Pär’s experience in product management and mechanical engineering had landed him positions over the past decade with companies such as Munters, and Cramo. For more detailed information on Pär, visit his LinkedIn page or contact him here.

Glen Shimizu, Head of Sales & MD Japan

Glen Shimizu was appointed as the Country Manager of Japan effective August 2010. In this role, Glen has sales, accounting and operational respon­sibilities related specifically to the Japanese market. Previous to his role at Qlean­Air Scandinavia, Glen was an Executive Marketing Director at General Electric and Representative Director for Steelcase Japan. For more detailed information on Glen, visit his LinkedIn page or contact him here.

Zachary Douglas, Interim President QleanAir Scandinavia Inc

Zachary comes from a role as Head of Product Management and Business Development at QleanAir Inc, which he will partly continue with also in his new capacity. Zachary joined QleanAir in September of 2019. He is an Industrial Engineer with automotive engineering experience at Honda R&D, Americas and business development experience with a group of five privately owned companies. After successfully moving QleanAir’s US supply chain out of Europe and into the US, Zachary became the Director of Product & Business Development. He is currently the leading expert on QleanAir’s materials, supply chain, and capabilities and the driver of various business development initiatives.
For more detailed infor­ma­tion on Zachary Douglas, visit his LinkedIn page or contact him here.

Pontus Grimberg, VP EMEA

Pontus Grimberg previously worked for Frico AB, part of Systemair Group, Fagerhults Belysnings AB, and most recently for Alelion Energy Systems AB. He started 28th of March and is our Vice President for Europe. His team consists of Sofie Lundgren, Jacob Laurin, Christian Dittmayer, and Gunnar Peren. Pontus holds a Master of Science in Chemical Engineering, direction Energy and Environment from Chalmers Technical University, and a diploma in Business Administration from IHM. He speaks German and understands Norwegian apart from Swedish and English.
For more detailed informa­tion on Pontus, visit his LinkedIn page or contact him here.

Auditor

Grant Thornton Sweden AB as auditor, with Olof Nordgaard as auditor-in-charge.

In respect of the period of time covered by historical financial information in this Prospectus, Per-Göran Mattis from Grant Thornton Sweden AB (Sveavägen 20, 103 94 Stockholm) has been the Company’s auditor. At the extraordinary general meeting held on 7 October 2019, it was resolved to elect Grant Thornton Sweden AB as auditor, with Anders Meyer as auditor- in-charge. The change of auditor was made due to the planned listing of the Company’s shares on First North Premier. The auditor was appointed for the period until the end of the annual general meeting to be held in 2020. Both Per-Göran Mattis and Anders Meyer are authorized auditors and members of FAR.

Articles of association

Adopted on the 2020 AGM on May 13, 2020. N.B. The English text is an unofficial translation and in case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.

BOLAGSORDNING / ARTICLES OF ASSOCIATION

för/for QleanAir Holding AB (org.nr/reg. no. 556879-4548)

§ Firma / Name
Bolagets firma är QleanAir Holding AB. Bolaget är publikt (publ).

The name of the company is QleanAir Holding AB. The company is a public company (publ).

§ Säte / Registered office
Styrelsen har sitt säte i Solna kommun i Stockholms län.

The board of directors’ registered office is in Solna municipality in Stockholm county.

§ Verksamhetsföremål / Object of the company’s business
Bolagets har till föremål för sin verksamhet att direkt eller indirekt genom dotterföretag, bedriva utveckling, produktion och försäljning av energibesparande produkter, luftreningsanläggningar och tekniska system för främjande av miljö jämte därtill hörande service- och underhållsverksamhet, bedriva konsultverksamhet och utbildning inom nämnda verksamhetsområden samt bedriva information och affärsutveckling även som äga och förvalta fast och lös egendom samt annan därmed förenlig verksamhet.

The objects of the company’s business are to, directly or indirectly through subsidiaries, conduct development, production and sales of energy saving products, clean air solutions and technical systems for environmental enhancement and thereto related service and maintenance, provide consultancy services and education within the aforementioned and conduct information and business development activities own and manage real property and movables as well as other activities compatible therewith.

§ Aktiekapital / Share capital
Bolagets aktiekapital ska uppgå till lägst 6 500 000 kronor och högst 26 000 000 kronor.

The company’s share capital shall be not less than SEK 6,500,000 and not more than SEK 26,000,000.

§ Aktier / Shares
Antalet aktier i bolaget ska uppgå till lägst 13 000 000 och högst 52 000 000.

The number of shares in the company shall be no less than 13,000,000 and no more than 52,000,000.

§ Styrelse / Board of directors
Styrelsen ska bestå av lägst tre (3) och högst sju (7) styrelseledamöter utan suppleanter.

The board of directors shall consist of not less than three (3) and not more than seven(7) members without deputy members.

§ Revisor / Auditor
Bolaget ska ha lägst en (1) och högst två (2) revisorer med högst två (2) revisorssuppleanter. Till revisor samt, i förekommande fall, revisorssuppleant ska utses auktoriserad revisor eller registrerat revisionsbolag.

The company shall have not less than one (1) and not more than two (2) auditors with not more than two (2) deputy auditors. The auditor(s), or deputy auditor(s) (as applicable), shall be an authorized public accountant or a registered public accounting firm.

§ Kallelse till bolagsstämma / Notice of general meetings
Kallelse till bolagsstämma ska ske genom annonsering i Post- och Inrikes Tidningar samt genom att kallelsen hålls tillgänglig på bolagets webbplats. Vid tidpunkten för kallelse ska information om att kallelse skett annonseras i Dagens Industri.

Notices of general meetings shall be made by announcement in the Swedish Official Gazette (Sw. Post- och Inrikes Tidningar) and by making the notice available on the company’s website. At the same time as notice is given it shall be announced in Dagens Industri that a notice has been made.

Aktieägare som vill delta i förhandlingarna vid bolagsstämma ska göra anmälan till bolaget senast den dag som anges i kallelsen till stämman. Aktieägare får ha med sig biträden vid bolagsstämman endast om han eller hon anmäler antalet biträden till bolaget i enlighet med det förfarande som gäller för aktieägares anmälan till bolagsstämma.

Shareholders wishing to participate in general meetings must notify the company no later than the date specified in the notice of the general meeting. A shareholder may be accompanied by advisors at a general meeting only if he or she notifies the company of the number of advisors in accordance with the procedure prescribed for in respect of notice of attendance to be made by a shareholder.

§ Ärenden på årsstämman / Matters to be addressed at the annual general meeting
Vid årsstämman ska följande ärenden förekomma till behandling:

Val av ordförande vid stämman;
Upprättande och godkännande av röstlängd;
Godkännande av dagordningen;
Val av en (1) eller två (2) justeringspersoner;
Prövning av om bolagsstämman blivit behörigen sammankallad;
Framläggande av årsredovisningen och revisionsberättelsen samt, i förekommande fall, koncernredovisningen och koncernrevisionsberättelsen;
Beslut om fastställande av resultaträkningen och balansräkningen samt, i förekommande fall, koncernresultaträkningen och koncernbalansräkningen;
Beslut om dispositioner beträffande bolagets vinst eller förlust enligt den fastställda balansräkningen;
Beslut om ansvarsfrihet åt styrelseledamöterna och verkställande direktören;
Fastställande av antalet styrelseledamöter och antalet revisorer och eventuella revisorssuppleanter;
Fastställande av arvoden åt styrelsen och revisorer;
Val av styrelseledamöter, revisorer och eventuella revisorssuppleanter; samt
Annat ärende som ankommer på stämman enligt aktiebolagslagen eller bolagsordningen.

The following matters shall be addressed at the annual general meeting:

Election of chairman of the meeting;
Preparation and approval of the voting list;
Approval of the agenda;
Election of one (1) or two (2) persons who shall approve the minutes of the meeting;
Determination of whether the meeting has been duly convened;
Submission of the annual report and the auditors’ report and, where applicable, the consolidated financial statements and the auditors’ report on the group;
Resolution in respect of adoption of the profit and loss statement and the balance sheet and, where applicable, the consolidated profit and loss statement and the consolidated balance sheet;
Resolution in respect of allocation of the company’s profit or loss according to the adopted balance sheet;
Resolution in respect of the members of the board of directors’ and the managing director’s discharge from liability;
Determination of the number of members of the board of directors and the number of auditors and, where applicable, deputy auditors;
Determination of fees payable to the members of the board of directors and the auditors;
Election of the members of the board of directors, auditors and, where applicable, deputy auditors; and
Other matters which are set out in the Swedish Companies Act or the company’s articles of association.

§ Fullmaktsinsamling och poströstning / Collection of proxy forms and postal voting
Styrelsen får samla in fullmakter på bolagets bekostnad enligt det förfarande som anges i 7 kap. 4 § andra stycket aktiebolagslagen. Styrelsen får även, inför en bolagsstämma, besluta att aktieägarna ska kunna utöva sin rösträtt per post enligt det förfarande som anges i 7 kap. 4 a § andra stycket aktiebolagslagen.

The board of directors may collect proxies at the company’s expense pursuant to the procedure stated in Chapter 7, section 4, second paragraph of the Swedish Companies Act. The board of directors may also, prior to a general meeting, resolve that shareholders shall have the option to exercise their voting rights by means of postal voting pursuant to the procedure stated in Chapter 7, section 4 a, second paragraph of the Swedish Companies Act.

§ Räkenskapsår / Financial year
Bolagets räkenskapsår är 1 januari – 31 december.

The company’s financial year is 1 January – 31 December.

§ Avstämningsförbehåll / CSD clause
Bolagets aktier ska vara registrerade i ett avstämningsregister enligt lagen (1998:1479) om värdepapperscentraler och kontoföring av finansiella instrument.

The shares of the company shall be registered in a CSD register in accordance with the Central Securities Depositaries and Financial Instruments Accounts Act (Sw. lagen (1998:1479) om värdepapperscentraler och kontoföring av finansiella instrument).


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The information contained in this section of the website is restricted and is not for release, publication or distribution, directly or indirectly, in whole or in part, into or from the United States, Canada, Australia, Japan, Hong Kong, New Zealand, Switzerland, Singapore, South Africa or any jurisdiction where to do so might constitute a violation of the local securities laws or regulations of such jurisdiction.

Subscription period for the general public in Sweden 3-10 December 2019
Subscription period for institutional investors 3-10 December 2019
First day of trading at Nasdaq First North Premier Growth Market 12 December 2019
Settlement date 16 December 2019