Volvo Veteran Joins Terranet AB as CFO

Johan Wångblad Brings Vast Experience from Leading Swedish Carmaker to Terranet Team That’s Rapidly Expanding

Lund, Sweden, November 12, 2020 - Terranet AB (Terranet/the Company), (Nasdaq: TERRNT-B.ST), developers of advanced driver-assist systems and the creators of breakthrough 3D motion awareness technology VoxelFlow, today announced the addition of Johan Wångblad as CFO, effective December 1, 2020.

Mr. Wångblad joins Terranet after spending the last decades at Volvo Car Group, including the last twelve in Research and Development, where he held leading finance and accounting positions. In his most recent role at Volvo, Mr. Wångblad was Head of Operations at Volvo Car Technology Fund AB, the Volvo Group’s venture capital arm. Throughout his career, Mr. Wångblad helped set cost targets and prerequisites for manufacturing plants in the United States and China, developed strategic partnerships with London Taxi and Uber, and helped advance new technology partnerships.

“Johan brings profound industry and finance expertise to our fast-growing team at Terranet,” said Pär-Olof Johannesson, CEO of Terranet. “As Terranet continues to strive toward our goal of ensuring the safety of autonomous vehicles, we sincerely look forward to working with Johan and leveraging his experience as we further expand Terranet’s business lines.”

Johan joins Terranet during a high growth period for the company as it's looking to add talent across divisions, including engineering and design, in order to bring its revolutionary VoxelFlow technology to market.

“Terranet is a cutting-edge, dynamic player within the Autonomic Vehicle space, and I look forward to working hand-in-hand with its energetic leadership as we continue to develop its groundbreaking technology,” said Mr. Wångblad. “I’m confident my automotive and financial experience will lend well to furthering existing partnerships and finding new business opportunities.”

For more information please contact:

Pär-Olof Johannesson, CEO
+46 70 332 32 62

Media contact:

Rob Kreis
FischTank PR

About TerraNet:

TerraNet develops software for radio-based solutions and three-dimensional image analysis for advanced driver-assistance systems and autonomous vehicles (ADAS and AV). TerraNet is headquartered in Lund (Sweden) with development sites in Kyiv (Ukraine), Stuttgart (Germany) and Los Gatos, California. TerraNet Holding AB (publ) is listed on the Nasdaq First North Premier Growth Market (Nasdaq: TERRNT-B.ST).

This information is such that TerraNet Holding AB is required to make public in accordance with the EU's Market Abuse Regulation (MAR). The information was made public by the Company's contact person above on November 12, 2020 at 8:30 am CET.

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