Thursday, 30 March 2017

PowerCell develops 40 percent more powerful fuel cell stack

Source: PowerCell, 28th March 2017

The leading Nordic fuel cell company PowerCell Sweden AB (publ) has developed its scalable fuel cell stack PowerCell S2 so that maximum output will now be 35kW. This makes the stack even more competitive in the Chinese market.

The Chinese demand for fuel cell stacks is great. To further strengthen its position in the Chinese market, PowerCell has increased maximum output of PowerCell S2 by 40 percent.

“Increasing interest in sustainability makes China stimulate the production of so called New Energy Vehicles. Today, 1 million of China’s 120 million vehicles meet these requirements. Forecasts from Chinese authorities show that the proportion of hydrogen cars will increase significantly”, says Per Wassén, CEO of PowerCell Sweden AB.

State support in China is particularly advantageous for fuel cell stacks with a net output of 30kW or more.

“The fact that we are now making PowerCell S2 scalable up to 35kW, instead of the previous 25kW, makes our fuel cells extremely competitive”, says Per Wassén.

PowerCell S2 is developed for stationary and mobile power supply, as well as a range extender for electric and hybrid vehicles. The platform, which is robust and compact, is designed for high volume production. PowerCell S2 is optimized for reformate, but performs equally well on pure hydrogen. As previously announced, PowerCell has received many requests for fuel cell stacks and systems from Asia.

Gothenburg, Sweden, March 28, 2017

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 08:45 CET on March 28, 2017

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