His story is one of rags to riches and back again, and he was largely forgotten in his native country, but fans of the Pedersen bicycle arranged for him to be reburied and a memorial erected at Dursley.
The rights were bought by Koefoed and Hauberg in Copenhagen, and as part of an export drive they made contact with R A Lister and Company, of Dursley in Gloucestershire, England.
Robert Ashton Lister suggested that Pedersen come to England to set up local assembly with parts shipped from Denmark, and this he agreed to do, bringing his mistress Dagmar with him (he was by this time separated from his wife Laura).
[2] During a visit to his brother Hans Mathias in Denmark, Pedersen met and fell in love with a girl, Ingeborg Jensen, 29 years his junior, bringing her back to Dursley in 1907.
He left Dursley unannounced when in his sixties, leaving his family behind, and Ingeborg subsequently returned to Denmark, marrying Jens Kristoffer Jensen, who adopted the children.