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Erik Sauar co-founded SolEnergy in 1998-99 and managed the company for the first 3 years until it had about 40 employees in 3 different daughter companies. SolEnergy was a company which manufactured and sold solar modules primarily in Southern Africa and also developed large-scale rural electrification projects in South Africa. In late 2001, SolEnergy, ScanCell and ScanWafer AS merged to form Renewable Energy Corporation ASA (REC), and Erik became the Chief Technology Officer, a position he held until 2011. REC went public on Oslo stock exchange in 2006, reached a peak market value exceeding 20 billion USD, and was for several years the world's most valuable solar energy company. Erik's responsibilities included an R&D portfolio of about 400 MNOK per year, strategic technology roadmaps, evaluation of external technologies, as well as acquisition and sale of external technology. Erik has extensive knowledge of the global PV industry and serves or served on the Board of Directors of several international PV institutes. He is also the author of about 20 patents and patent applications.