Hexagon taps former Ericsson exec to helm new sustainable economy business

STOCKHOLM: Industrial technology group Hexagon is launching a subsidiary focused on investing in the sustainable economy, and has picked Ericsson’s Erik Josefsson as CEO of the new business, it said.

Josefsson, former head of Advanced Industries at the telecoms gear-maker, will lead the subsidiary, called R-evolution, as it runs profit-driven investments in green-tech projects where Hexagon’s technology can be applied.

Hexagon said the first set of investments, focused on renewable energy, will involve the construction of cutting-edge solar farms, targeted at producing energy with 50,000 tonnes less CO2 equivalents per annum than the grid’s residual mix.