History

Morphic Technologies was founded in 1999 in Karlskoga, a Swedish town with a high concentration of industrial and engineering firms. The individuals behind the founding of the company were Peter Enå, with a background at SKF, and Kurt Dahlberg, with a background at Bofors. Their goal was to develop and market technology that would make it possible to control extreme dynamic forces with a high degree of precision to manufacture components faster and less expensively than had previously been possible.

2004/05

The company initiates international sales activities in fuel cells and the Morphic subsidiary Sercomo changes its name to Cell Impact AB. The aim is to adapt the technology to the fuel cell market. In October 2004 trading in Morphic’s shares begins on the Nya Marknaden list (now First North).

2005/06

In October 2005 Morphic acquires the automation and materials handling system SensActive AB, which is integrated into Dynamis AB, another Morphic subsidiary. In December 2005 Morphic acquires Aerodyn AB, with operations in wind and hydroelectric power and propulsion, for the purpose of combining alternative energy sources with fuel cells. In January 2006 Cell Impact’s first production plant is taken into operation.

2006/07

A partnership agreement is signed with Finnish wind power company WinWinD. Aerodyn is split into three separate companies: Aerodyn AB, Finshyttan Hydro Power AB and DynaWind AB. Organizationally, Morphic is strengthened through the recruitment of several key individuals, including a President and CEO. During the financial year the company concludes several agreements relating to fuel cells with companies in the automotive, telecom, consumer electronics and other industries. The company also receives wind power several orders, the largest of which is an order for ten turbines for the Lake Vänern Wind Park.

2007/08

The development of Morphic’s own energy system, in which renewable energy is combined with fuel cells, takes several big steps forward during the year. In summer 2007 the first demonstration facility is taken into operation in Karlskoga. In fall and winter 2007 the company receives its first two volume orders for production of flow plates for fuel cells, worth SEK 196m. In March Morphic is listed on the OMX Nordic Exchange. The company receives a new order for ten turbines for the Uljabuouda wind park in the municipality of Arjeplog in northern Sweden. During the period Morphic also acquires 55 percent of the shares of energy technology company Helbio, 100 percent of the shares of Arcotronics Fuel Cells s.r.l (now Exergy Fuel Cells), 100 percent of the shares of AccaGen and 100 percent of the shares of Euro Industrial Automation AB (“EIA”).

2008/09

A partnership agreement is concluded with the German wind turbine maker Kenersys. The company acquires 80 percent the Norwegian wind turbine maker ScanWind. Morphic Impact receives a test order for three production platforms for the automotive industry.