Saturday, 3 September 2016

PowerCell Sweden: New order from Chinese company of automotive industry

Source: "PowerCell Sweden receives a new order for the PowerCell S2 from a Chinese company within the automotive industry – The S2 to be used as a REX in electrified passenger cars", PowerCell Sweden, 2nd September 2016

[Gothenburg, Sweden, September 2, 2016.] The leading fuel cell company PowerCell Sweden AB (publ) has received an order for the PowerCell S2 fuel cell stack from a Chinese company within the automotive industry. The PowerCell S2 shall be used as a hydrogen-based Range Extenders, REX. for electrified passenger cars.

The leading fuel cell company PowerCell Sweden AB has developed fuel cell technology for more than a decade, and has perfected a unique design that enables the production of a light, versatile and reliable source of power for the automotive, transportation and stationary applications.

Due to China’s rapid growth a huge demand for green technologies is needed, especially within the automotive industry. PowerCell Sweden has now received an order for the PowerCell S2 fuel cell stack from a Chinese company within the automotive industry. The PowerCell S2 fuel cell stack shall be used as a hydrogen-based Range Extender, REX, for electrified passenger cars.

The PowerCell S2 fuel cell stack is designed for efficient power generation in the range of 5 to 25 kW. PowerCell has used its heritage from the automotive industry when it developed the fuel cell stack that meets the needs of customers in demanding conditions.

“We are very pleased that we received a Chinese order for our PowerCell S2 fuel cell stack. Customer’s choice of our fuel cell stack shows that the interest in and demand for PowerCell’s clean energy solutions is increasing in Asia, although the order has a limited impact on the current year’s results”, says Per Wassén, CEO of PowerCell Sweden AB.

About Range Extenders

A Range Extender offers all of the advantages of a pure electric car combined with the range of a conventional car if the hydrogen tank is adequately dimensioned. Once the car’s battery has been discharged to a predetermined level, the fuel cell automatically kicks in. The built-in fuel cell converts the H2 to electric energy that is supplied to the battery so that the driver can continue his or her journey. The car is powered by the electric motor and the average power output is provided by the fuel cell to keep the battery charged. The battery contributes maximum power, such as when overtaking. For the driver, this means that the car always achieves the same performance.

With hydrogen gas, it is possible to fill the hydrogen tank in just a few minutes instead of being subjected to long charge times. The major environmental gain lies in the absence of emissions, with water being the only end product; there are no other emissions. If the hydrogen gas is also produced with regenerative electricity from renewable sources, carbon dioxide-free vehicle transport can thereby be realized. Another advantage is that the surplus heat can be used in the wintertime to heat the vehicle interior.

Useful links

About PowerCell S2
About PowerCell’s Technology

For further information, please contact:

Per Wassén
CEO, PowerCell Sweden AB (publ)
Phone: +46 (0)31 720 36 20
Email: per.wassen@powercell.se

The information in this press release is information that PowerCell Sweden AB (publ) is obliged to make public pursuant to the Act (1991:980) on Financial Instruments Trading, the Act (2007: 528) regarding the Market of Securities and / or the EU regulation no. 596/2014 on Market Abuse.

About PowerCell Sweden AB (publ)

PowerCell Sweden AB (publ) is the leading fuel cell company in the Nordics, which develops and produces environmentally friendly power systems for stationary and mobile customer applications.

PowerCell has developed a modular system of fuel cell platforms, powered by clean environmentally friendly produced hydrogen where only electricity, heat and water are emissions. The fuel cells are also designed to handle the reformed hydrogen from e.g. biogas, natural gas, biodiesel or standard diesel.

In case hydrogen infrastructure is missing, PowerCell has combined its leading fuel cell and reformer technology and developed a fuel cell system, PowerPac, which converts standard diesel, with hydrogen, into electricity. This is done in an energy-efficient and environmentally friendly way, in which emissions of carbon monoxide, nitrogen oxides and particles are completely eliminated and the carbon dioxide is greatly reduced compared with a conventional diesel engine.

PowerCell Sweden AB (publ) is listed on First North at Nasdaq Stockholm and is an industrial spinout from the Volvo Group. G&W Fondkommission is appointed Certified Adviser by the Company. Among the largest owners are Midroc New Technology, Fouriertransform, Finindus and Volvo Group Venture Capital. For additional information, please visit: www.powercell.se