Value creation through active and long term ownership based on value analysis. We are highly engaged in the companies we invest in and look for investment opportunities where Molindo Energy can add value.


Performance driven business model


Effective structure to lower costs


Active communication with investors


  • Founded in 2017. Private and independent
  • Performance driven business model
  • Effective structure to lower costs
  • Active communication with investors


  • Investments where Molindo Energy contribute to value creation through active ownership
  • Investments with significant valuation upside
  • Global focus on private energy companies
  • Value and growth driven analysis both for companies and sector


Morgan Sadarangani Born 1975. CFO of Tethys Oil 2004-2017, instrumental in taking the company from a private SEK 20 million to a public mid cap listed SEK 3 billion company. Active in numerous oil and gas projects in Europe and the MENA region, has significant experience in raising equity and debt capital. Before joining Tethys Oil, Morgan Sadarangani spent four years in the finance industry, mainly with SEB. Strong industry network in both the energy industry and the financial industry.


The portfolio


  • Offers a unique patented biomass gasification system, generating both electricity and heat
  • Small and scalable systems for industry use
  • Meva is a private company in the phase of commercial launch
  • Molindo Energy invested in May 2017 and has board representation


  • The company has established both supply and customer relations to provide a platform for the trade
  • QFS is a private company in the phase of commercial launch
  • Molindo Energy invested in May 2017 and has board representation

Exeger Sweden

  • Producer of indoor solar cells for mobile electronic devices
  • Seamless integration into consumer products
  • Ready factory to produce third generation solar cells
  • Strong patent protection and vast market potential
  • Preparing for commercial launch
  • Molindo Energy invested in July 2017

Why invest in energy?

  • Bears significant potential for diversification over several sectors such as primary energy production, distribution, storage, energy saving etc
  • Broad and global investment areas, difficult to access and analyze without industry related experience 
  • Significant area of growth in foreseeable future
  • Opportunities for companies providing solutions for energy challenges
  • Environmental challenges and political pressures create opportunities

Board of directors


Chairman of the board

Göran Nyström, born 1951, LL. M. from the University of Uppsala. Since 2006, a Senior Lawyer and partner at Advokatfirman Vinge in Stockholm and previously partner at Mannheimer Swartling between 2000 and 2005 and Head of Enskilda Juridik between 1988-2000. Well reputed expert with unique and significant experience within the fields of M&A, ECM, general corporate law. Board member of Meva Energy AB (chairman), and Global Rescue Innovation AB (chairman).


Håkan Ehrenblad, born 1939. Mechanical engineer HTLS, Chemical/ Paper manufacturing Royal Institute of Technology, Stockholm, PED from the Institute for Management Development (IMD), Lausanne, Switzerland. Various executive positions at Bonnier Magazine Group until 1985. Active investor and been a member of several boards, among others publicly listed companies Tanganyika Oil Company Ltd and Tethys Oil AB.


Giovanni Fili, born 1976. Master of Science in Business Administration from Stockholm School of Economics. Entrepreneur and private investor with more than 20 years’ experience in entrepreneurship and 10 years’ experience in commercializing high tech innovations. Founder of and current CEO of Exeger Sweden AB, member of STING advisory board, board member of Sigrid Therapheutics AB and board member and co-founder of Atrogi AB.


Max Heger, born 1975. Master of Science in Finance from Stockholm School of Economics. Over 15 years´ experience from the finance industry. Served as CFO and member of the board at GodEl, CFO at the mobile payment service group iZettle and CEO at the mutual fund company GodFond. Member of the investment committee at Investerum AB and member of the boards at GodFond i Sverige AB and DP Organizer AB.

Morgan Sadarangani - CEO and board member

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Molindo Energy
Biblioteksgatan 1, 111 46 Stockholm, Sweden
+46 73 593 15 00