THULE INVESTMENTS

Dr. Gísli Hjálmtýsson has over 20 years of experience as an innovator, entrepreneur and manager. He joins Thule Investments from Reykjavík University where he was Dean of Computer Science and Engineering. Prior to that Dr. Hjálmtýsson was a Chief Technology Officer and fund manager at AVX-e.com, a PA based venture capital group focusing on Internet related opportunities. Before joining AVX, Dr. Hjálmtýsson conducted research on the Internet and novel network services, joining AT&T Research at Bell Laboratories in 1995, later AT&T Research at AT&T Shannon Laboratories most recently promoted to a Technology Consultant. Dr. Hjálmtýsson has a Ph.D. in Computer Science from University of California at Santa Barbara. He has held positions on the faculty of Columbia University, University of Iceland and currently is a Professor at Reykjavík University. In 1993 Dr. Hjálmtýsson was a visiting research scientist at Telecom Research Laboratories, in Melbourne Australia for six months. He has been a co-recipient on significant grants from EC, NSF, DARPA, with leading researchers from MIT, Dartmouth College, Carnegie Mellon University, Princeton and more.

Dr. Gísli Hjálmtýsson has a BS degree in Applied Mathematics and Computer Science from University of Rochester, (NY) and a Ph.D. in Computer Science from University of California, Santa Barbara. Dr. Hjálmtýsson has been an invited speaker at numerous symposia, universities and leading companies. He has published over eighty papers, holds over twenty patents, and is a voting member of IEEE and ACM, and active in organizing professional conferences and serving on program committees.

Bjarney joined Thule Investments in 2004 as an Investment Analyst. Before joining Thule, Bjarney worked in the Computer Science Department at Reykjavik University and in Kaupthing Bank as a software programmer. In 2007, Bjarney took a leave from Thule Investments to complete her Master of Science in Engineering Management at the Technical University of Vienna (TU-Wien). Master thesis: an integrated approach to competitive analysis and business model identification for online multi-media social networking services. Bjarney was also a member of the Robotic football team of TU-Wien which participated in the European Robotic football championship in 2008. During her studies she founded a start-up in Germany (Remotealbum). Remotealbum is an online storage service with great sharing features and complete focus on privacy and security.

Bjarney has a M.Sc. in Engineering Management from Technical University of Vienna and a B.Sc. in Computer Science from Reykjavik University.

Mr. Gústafsson has extensive experience in the field of finance and sales. Before joining Borealis he was a financial analyst at Oz, a Reykjavík based startup. Previously he was a sales and account manager at Borgun, an Icelandic Acquiring Bank, working on e- commerce solutions and business development.

Jean-Francois has 9 years of experience in the financial market, both as a trader and dealer on financial derivatives instruments, fixed income and currencies, in South Africa, Czech Republic, USA and so on. 14 years of experience in the private equity sector in various industries such as real estate, tech, it, renewable energies, financing, refinancing and M&As. JF experience which is multi products gives him the capacity to apprehend a large panel of asset class and various industries while entertaining a solid relationships at the executive level in the tech, it, real estate, investment companies and financial sector throughout Europe and in the US to the benefit of Thule Investment's growth.