[1] Mathematics genius and electrical engineering pioneer Charles P. Steinmetz was the first recipient of the honor's silver medal.
The award is administered on behalf of the foundation by the KTH - Royal Institute of Technology,[1] one of Europe's leading technical and engineering universities.
[2] In addition to funding the honor, the foundation, which was established in 1909, also uses its endowment fund's investment returns for scholarships to Swedish electro technicians.
Namesake Henrik Tore Cedergren (1853-1909) was the founder of Stockholms Allmänna Telefon AB which merged with Lars Magnus Ericsson’s company in 1918 to become Allmänna Telefonaktiebolaget L M Ericsson.
Today, Ericsson is the world’s largest mobile communication network provider, holding 35% market share.