PowerCell gets order and signs a memorandum of understanding with a Chinese company specialized in fuel cell applications for commercial light-duty trucks

 
 

- for development of Range Extenders with methanol reformer for fuel cell systems based on PowerCell S2, suitable for commercial light-duty electrified vehicles on the evolving Chinese market

[Gothenburg, Sweden, September 12, 2016.] The Nordic leading fuel cell company PowerCell Sweden AB (publ) has received an order and signed a Memorandum of Understanding with a Chinese company focusing on green energy solutions, specialized in fuel cell applications for commercial light-duty trucks. The two companies see potential of cooperation within Range Extenders, REX, for commercial light-duty electrified distribution vehicles. They will develop a fuel cell system with the Chinese customer´s methanol reformer based on PowerCells´s fuel cell stack S2 and extensive know-how in reformer technology.

The Nordic 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.

The rapid growth of the Chinese market has encouraged the Chinese company to provide a strategy to meet the huge demand of green technologies that China requires. The company focuses on a variety of fuel cell applications, but primarily small distribution vehicles, backup and portable fuel cell applications.

The two companies see potential of cooperation within Range Extenders, REX, for commercial light-duty electrified distribution vehicles. They will develop a fuel cell system with the Chinese customer´s methanol reformer based on PowerCells´s fuel cell stack S2 and extensive know-how in reformer technology.

“We really look forward to a close cooperation with our new Chinese customer, to jointly enter the Chinese market for commercial light-duty trucks, with methanol-based fuel cell Range Extenders. Our unique expertise in fuel cells and reformer technology is receiving an increasing attention worldwide and we are truly pleased to get another Chinese order”, said Andreas Bodén, Sales Director, PowerCell Sweden AB.

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

For further information, please contact:

Per Wassén
CEO, PowerCell Sweden AB (publ)
Phone: +46 (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

 
 
 

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

 
 

[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

 
 
 

PowerCell Sweden presents the Interim Report for April to June 2016

 
 

[Gothenburg, Sweden, August 16, 2016.] The leading fuel cell company PowerCell Sweden AB (publ) presents its interim report for April to June 2016.

PowerCell Sweden AB presents its interim report for April to June 2016.

”We see a continued increase in customer interest in several markets. During the second quarter, we made several sales of our PowerCell S1 for stationary applications and prototyp of PowerCell S2 REX (Range Extender) and prototypes of PowerCell S3 for automotive and truck applications. Furthermore, we entered into several important collaborations with partners that will further pave the way for the continued success of our continued development of new products and solutions”, said Per Wassén, CEO of PowerCell Sweden AB.

The interim report Q2, 2016 shows following important events during this period:

• Continued increase in customer interest and significant improvement in net sales
• Several completed sales of PowerCell S1 for stationary applications, a prototyp of PowerCell S2 REX (Range Extender) and prototypes of PowerCell S3 for automotive and truck applications
• A strategically important global customer placed an order of a prototype of PowerCell S2 and will use the prototype to micro-CHP (Combined Heat and Power) for housing in the South Korean market
• An agreement of cooperation – MOU with Swiss Hydrogen, where the intention is cooperation in the development and sales of complete systems, with initial focus on the transportation sector
• The tests with Telia, which were completed during the summer, have been successful and are now being evaluated together with the customer in order to outline the next steps
• The Autostack Core project has progressed according to plan

Read the report at: Financial reports

For further information, please contact:

Per Wassén
CEO, PowerCell Sweden AB (publ)
Phone: +46 (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

 
 
 

PowerCell Sweden strengthens its management team

 
 

[Gothenburg, Sweden, August 12, 2016.] The leading fuel cell company PowerCell Sweden AB (publ) today announced that it is strengthening its management team to enhance customer focus and further strengthen the product development process.

PowerCell Sweden is growing steadily in the Swedish and international markets. The company now announces that they employ to increase the customer focus with professionalism in marketing and to enhance the product development process.

Charlotta Sahlin has been employed as Director Marketing & Communication. Charlotta has a long and solid experience in international marketing and to develop strong brands from e.g. Saab Automobile Global Marketing and as Marketing & PR Manager at the IT company Pulsen. Charlotta has a bachelor degree in marketing and communications from the University of Växjö.

Karl Samuelsson has been employed for the role as Director of Product Development and will be responsible for product development. Karl has a long experience in product development from Volvo Cars Research & Development, Engine Engineering. Karl has a master degree in mechanical engineering from Chalmers University in Gothenburg.

Both will from August 15 be a part of PowerCell Sweden AB’s management team and they will report to CEO Per Wassén.

“We are a company in an exciting phase and we are very positive about the future with the growing interest in our products and systems in Sweden and internationally. As the company grows, we see a need to further focus on our customers and are now strengthening our management team with professionalism in marketing and product development. We are therefore very pleased to that Charlotta and Karl with their specific knowledge and extensive expertise will start to work with us and contribute to our continued growth”, said Per Wassén, CEO of PowerCell Sweden AB.

For additional information please contact:

Per Wassén

CEO, PowerCell Sweden AB (publ)

Phone: +46 (31) 720 36 20

Email: per.wassen@powercell.se

This information is of such information PowerCell Sweden AB (publ) is obliged to publish under the EU Market Abuse Regulation. The information was provided by the above contact person’s support, for publication August 12, 2016 at 08:45 CET.

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 delivers 100 kW PowerCell S3 fuel cell stack prototype for a truck application for a European transport company

 
 

[Gothenburg, Sweden, July 1, 2016.] Nordic leading fuel cell company PowerCell Sweden AB (publ) announced earlier this year that they had received their first order for a PowerCell S3 fuel cell stack from a European company within the automotive sector. PowerCell has now delivered the first prototype of the 100 kW PowerCell S3 fuel cell stack for a truck application to the European transport company.

The PowerCell S3 prototype has been delivered to a European transport company for application in a distribution truck. The PowerCell S3 fuel cell stack is based on the platform developed by PowerCell together with partners in the Autostack Core project.

“This is an important historical event for PowerCell and we are obviously very pleased that we have delivered our first 100 kW fuel cell stack PowerCell S3 prototype to the European customer. The customer’s chose of our stack shows that the PowerCell S3 characteristics are unique and the demand for our clean energy solutions increases, although the order has a limited impact on the current year’s results”, said Per Wassén, CEO of PowerCell Sweden AB.

About the PowerCell S3 fuel cell stack

The PowerCell S3 fuel cell stack platform compliments the other fuel cell stack platforms PowerCell S1 (1-5 kW) and PowerCell S2 (5-25 kW), as it covers a larger power range from 20 kW up to 100 kW, except that this platform is designed to use only pure hydrogen as a fuel. The PowerCell S3 fuel cell stack uses proton exchange membrane (PEM) technology and is the choice for automotive applications. PEM is the most common technology used today, owing to its reliable and dynamic characteristics enabling full output power within seconds.

For additional information please contact:

Per Wassén

CEO, PowerCell Sweden AB (publ)

Phone: +46 76 553 37 71

Email: per.wassen@powercell.se


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