Tuesday, 23 October 2018

PowerCell gets a repeat order from a global automotive OEM

Source: PowerCell Sweden, 23rd October 2018

PowerCell Sweden AB (publ) has received a strategically important repeat order for a S3 fuel cell stack for additional tests from a global automotive OEM. Delivery is expected to take place during the fourth quarter this year.

The English version is an in house-translation. In case of any discrepancy, the Swedish text will prevail.

Earlier this year the automotive OEM placed an order for S3 fuel cell stacks and MS-100 fuel cell systems. The company now wants to expand its tests of fuel cells and has decided to order another PowerCell S3 fuel cell stack.

The S3 stack is the most powerful of all PowerCell stacks and combine compact design with low weight and high-power density. The stack has been specifically designed and developed for automotive applications.

“The automotive industry is facing an unavoidable transformation as it becomes increasingly obvious that the climate crisis is happening right here and right now, and not a hundred years from now”, Per Wassén, CEO of PowerCell said. “This puts the automotive OEMs under a great pressure to electrify their drivetrains, and fuel cells running on hydrogen offer a number of advantages compared to batteries as they provide an electric drive without limited range or time-consuming charging.”

A vehicle running on hydrogen and fuel cells can be filled up almost as quickly as a vehicle running on fossil fuels and has approximately the same range. Another advantage is that electrification with fuel cells and hydrogen does not require investments in a specific charging station infrastructure. A fuel cell running on hydrogen produces electricity with no other exhausts than pure water.

“If we added a hydrogen pump on existing gas stations we could have a rapid electrification where we retained all the benefits of fossil fuels without having any of its disadvantages – such a network of hydrogen pumps is currently being established in Norway, California and Germany. Hydrogen can easily be produced from solar or wind power and offers a fully sustainable energy system.”

For further information, please contact:

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

About PowerCell Sweden AB (publ) 

PowerCell Sweden AB (publ) develops and produces fuel cell stacks and systems for stationary and mobile applications with a world class energy density. The fuel cells are powered by hydrogen, pure or reformed, and produce electricity and heat with no emissions other than water. As the stacks and systems are compact, modular and scalable, they are easily adjusted to any customer need. www.powercell.se

PowerCell was founded in 2008 as an industrial spinout from the Volvo Group. The share (PCELL) is since 2014 subject to trade at Nasdaq First North Stockholm with G&W Fondkommission as Certified Adviser.