Friday, 23 December 2016

PowerCell receives order from a German Tier-1 supplier

Source: PowerCell Sweden, 22nd December 2016

The leading fuel cell company PowerCell Sweden AB (publ) receives an order of the fuel stack PowerCell S3 from a German Tier-1 supplier within the automotive industry.

PowerCell receives an order of the fuel cell stack PowerCell S3. The German customer is one of the largest Tier-1 suppliers within the automotive industry.

The PowerCell S3 is very compact, robust and designed to meet the demanding requirements of automotive applications. The stack is powered by hydrogen, has a high degree of efficiency and one of the world’s highest power density. The stack is at 100 kW which corresponds to 134 hp. It is scalable, and when connected in series a few hundred hp can be produced.

The order is strategically important, but have a limited impact on the company’s results.

Gothenburg, Sweden, December 22, 2016

For further information, please contact:

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

This information is insider information that PowerCell Sweden AB (Publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17:20 CET on December 22, 2016.

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