PowerCell receives order from a German Tier-1 supplier

 
 

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

The following documents can be retrieved from beQuoted PowerCell_Pressrelease_2016-12-22_English.pdf

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

 
 
 

PowerCell receives EU funding for development of fuel cell systems for passenger cars

 
 

The Nordic leading fuel cell company PowerCell Sweden AB (publ) receives together with a consortium an EU funding for development of a fuel cell system based on the PowerCell S3. The system will be integrated and tested by Volvo Car Group.

The EU funding was, as previously announced, applied for through the program Fuel Cells and Hydrogen 2 Joint Undertaking together with companies and research institutions from a number of European countries. The aim of the project is to develop advanced components for fuel cell systems for passenger cars, in order to improve efficiency and reliability as well as reduce costs. The system will be based on the fuel cell stack PowerCell S3 (100kW) which is designed to meet the demanding requirements of automotive. Peripheral components will be developed by partners in the consortium. Volvo Car Group will integrate and test the system in one of their passenger cars.

The project, named INN-BALANCE, starts in beginning of 2017 and comprises appr. MEUR 5 in funding, whereof PowerCell Sweden AB receives appr. MEUR 1,3.

The consortium consists of following European companies and research institutions: PowerCell Sweden AB, Sweden; Volvo Car Group, Sweden; Fundacion Ayesa, Spain; Brose Fahrzeugteile GmbH & Co. Kommanditgesellschaft, Germany; AVL LIST GmbH, Austria; Deutsches Zentrum Fuer Luft- und Raumfahrt EV, Germany; Universitat Politecnica de Catalunya, Spain; Steinbeis- Europa-Zentrum, Germany and Celeroton AG, Switzerland.

The EU funding through the Fuel Cells and Hydrogen 2 Joint Undertaking is strategically important, but has a limited effect 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

The following documents can be retrieved from beQuoted PowerCell_Pressrelease_2016-12-22_English.pdf

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 15:35 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

 
 
 

PowerCell is still one of the most traded large companies at Nasdaq First North

 
 

Nasdaq First North 25 Index has been reviewed and PowerCell Sweden AB (publ) is still one of the 25 largest and most traded companies at Nasdaq First North.

PowerCell is still part of the Nasdaq First North 25 Index portfolio.
– This means increased visibility and makes us more interesting for an even broader group of investors, customers and partners. The fact that the share, also during 2016, has been one of the most traded shares among the large companies, confirms that PowerCell is an interesting investment, says Per Wassén, CEO for PowerCell Sweden AB.

Companies included in the Nasdaq First North 25 Index are selected through a two-step process. Among the 30 companies with the largest market capitalization, the 25 most traded shares, measured by aggregated trading turnover over a six month period, are selected. The index portfolio is reviewed semi-annually and is effective between the first day of trade in January 2017 and July 1 2017.

Gothenburg, Sweden, December 21, 2016.

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

The following documents can be retrieved from beQuoted PowerCell_Pressrelease_2016-12-21_English.pdf

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 17:00 CET on December 21, 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

 
 
 

Completed field studies of PowerCell PowerPac have achieved project goals

 
 

In 2016, the leading fuel cell company PowerCell Sweden AB (publ) has together with partners completed three projects in which the fuel cell system PowerCell PowerPac has been tested during field studies. During Q1, the projects will be consolidated and evaluated in the light of the technical development within the company.

In Sweden, Telia installed a PowerPac as a back-up power unit for a telecom base station in the Gothenburg region. The test has been conducted through simulated power failures where the fuel cell system replaced the loss of electricity. The project goals have been achieved to 100 percent, according to Telia.

ASKO, the largest grocery distributor in Norway, has installed a PowerCell PowerPac in a distribution vehicle in order to reduce emissions during loading and unloading. The field study has been conducted in Trondheim in 2016 and reduced consumption of diesel significantly. According to ASKO’s project evaluation, an investment in a PowerPac would pay off in less than three years.

The third project was a field study of PowerPac that Vodafone were to perform in South Africa, in which the system was planned as a back-up unit for telecom. Difficulties in performing a field study at a distance have resulted in the system, not being tested completely as planned.

All units are now on their way back to Gothenburg, where they will be thoroughly analyzed and evaluated at the PowerCell laboratory. During Q1 the projects will be consolidated and evaluated in the light of the technical development within the company.

- During 2016, we have continuously developed reformer technology as well as fuel cell technology, and the world leading team of PowerCell has brought the technology many steps further. Combined with a growing insight of the necessity of immediately reducing emissions of CO2, the experiences from the field studies open doors to a sustainable society, says Per Wassén, CEO of PowerCell.

Gothenburg, Sweden, December 21, 2016

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

The following documents can be retrieved from beQuoted PowerCell_Pressrelease_2016-12-21_English.pdf

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 16:40 CET on December 21, 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

 
 
 

PowerCell TO2 warrant program completed – PowerCell raises SEK 23.9 million

 
 

The exercise period of the PowerCell Sweden AB (publ) warrant program (TO2) ended on December 21. A total of 1,950,520 shares were subscribed by exercising TO2 warrants. This represents a subscription rate of 100 percent.

PowerCell’s incentive program (T02) for senior executives and key employees has been fully subscribed. PowerCell has thereof got a capital injection of MSEK 23.9.

When the 1,950,520 newly issued shares are registered, there will be a total of 44,784,392 outstanding shares in PowerCell Sweden AB (publ). The quota value per share is SEK 0.022 which corresponds to a registered share capital after the warrant program of SEK 985,256,624.

The new shares will be admitted to trading on First North as soon as the issue has been registered with Bolagsverket and Euroclear.

In conjunction with the completed warrant program, a number of senior executives and key employees have increased their holdings in the company.

Pareto Securities has acted as financial advisor to PowerCell Sweden AB in connection with the issue and exercise of the warrant program.

Gothenburg, Sweden, December 21, 2016

For further information, please contact:

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

The following documents can be retrieved from beQuoted PowerCell_Pressrelease_2016-12-21_English.pdf

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 11:00 CET on December 21, 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