Founder Kim Madsen resigns as CEO to become Chairman of the Board; Rasmus Christensen Appointed New CEO

Roskilde, Denmark 18/12 2024

After 20 years at the helm, Kim Madsen, founder and CEO of Momentum Energy Group A/S (“Momentum”), has decided to step down as CEO and hand over the management to Rasmus Christensen, effective March 17, 2025. Kim Madsen will assume the role as Chairman of the Board of Momentum, where he has previously only been a non-executive board member. This transition is part of a long-planned succession strategy aimed at ensuring the continued success and growth of the company.

In his statement, CEO Kim Madsen says: “It is with great pride that I look back on the journey and what we have achieved over the past two decades. Together with an incredibly talented team, we have built Momentum into a strong and resilient organization focused on development, investment and management of wind and solar projects across Northern Europe. Our commitment to producing affordable, sustainable green energy has not only driven Momentum success but has also positively contributed to society and the environment.

“I’m almost 62 years old and have worked really hard since I graduated high school at 18. I’m still in great shape and highly motivated to make a difference every day in the company I love and have created. But I am not getting any younger and I am looking forward to spending more time with the family with older children and grandchildren, as well as pursuing my hobbies where friends, mountaineering, golf, traveling, skiing and getting in even better shape again, are at the top of the agenda.”

New CEO appointed

Rasmus Christensen, 49 years old, will succeed Kim Madsen as Momentum’s CEO. Rasmus comes to Momentum from his previous role as CEO at Energinet Gastransmissions A/S, a subsidiary of Energinet A/S. He holds a Master’s degree in Sociology from the University of Copenhagen, an Executive MBA, and Master in Technology Management, Business and Service Development from DTU, along with extensive and well-diversified management experience.

Rasmus has 16 years of experience in renewable energy and infrastructure, where he has been responsible for top management, business development, technology as well as development and purchase and sale of assets in companies such as Energinet, Frederiksberg Forsyning, Bornholms Energi & Forsyning, SE Blue Renewables, Norlys and Natur-Energi A/S.

In response to his appointment Ramus Christensen commented:

“I am honored to take on the role of CEO of Momentum Energy Group. Kim has laid a strong foundation for the company, and I look forward to collaborating with this talented team, Kim and the investors to take Momentum to new heights, while contributing to the green transition that the world desperately needs.”

The above appointment marks a key milestone in a pre-agreed succession plan that was mutually agreed several years ago between Kim and Arcus to ensure a seamless transition in the best interest of the company. The ownership of Momentum remains unchanged with 64% held by Arcus Infrastructure Partners LLP in London, 32% by Kim Madsen and 4% by the current Chairman of the Board Michael Shalmi.

Stefano Brugnolo, Head of Energy at Arcus Infrastructure Partners’, commented:
“We are delighted with the smooth and amicable transition from Momentum’s founder Kim Madsen to a new CEO, Rasmus Christensen. Kim has been an invaluable partner, and we fully respect his decision to transition to the role of Chairman of Momentum, where his vast experience will continue to benefit the company. We are confident that Momentum Energy Group is strongly positioned for continued growth, and we look forward to working closely with Rasmus for many years to come.”