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PowerCell participates in EU project to reduce the cost of hydrogen as fuel

 
 

The EU has decided to approve the project HYDRAITE to develop technology to reduce the cost of hydrogen. PowerCell Sweden AB (publ) supplies the project with fuel cell stacks and contributes with expert competence.

The HYDRAITE project is initiated as a response to the European industry’s need to reduce the cost of the quality assurance of fuel and thus the cost of hydrogen. The purpose of the project is to study contaminants that arise in the hydrogen supply chain, including contaminants from hydrogen fueling stations, and how this affects the quality of hydrogen. Another goal is to better understand how any pollution in the hydrogen affects the fuel cell performance and sustainability in operation.

The project also aims at setting up three European laboratories (NPL, ZBT and ZSW) with sampling and analysis facilities for fuel units according to ISO standards.

The project consists of Europe’s leading fuel cell research institute with PowerCell as the only industrial member and in total, the project comprises a financial support amounting to EUR 3.4 million, of which PowerCell’s share amounts to EUR 0.27 million.

“PowerCell has been selected thanks to the company’s high-quality fuel cell stacks that offer very high performance and durability. Further factors that have led PowerCell to be chosen as a project member are that the company sells its products openly on the market without being bound to individual manufacturers in the automotive industry”, said Jaana Viitakangas, project coordinator, and active at VTT.

Facts about HYDRAITE
The project began on January 1, 2018 and extends over three years. The companies and organizations involved in the project together with PowerCell are: VTT Technical Research Center of Finland, Finland; SINTEF AS, Norway; Comissariat à l’énergie atomique et aux energies alternatives, France; National Physical Laboratory (NPL), United Kingdom; Zentrum für Sonnenergie und Wasserstoff-Forschung Baden-Württemberg (ZSW), Germany and Zentrum für Brennstoffzellen Technik GmbH (ZBT), Germany.

Gothenburg, Sweden, February 8, 2018

For further information, please contact:

Per Ekdunge
CTO, PowerCell Sweden AB (publ)
Phone: +46 (0) 739 10 37 02
Email: per.ekdunge@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 power 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.

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.

 
 
 

PowerCell participates in EU project to develop a portable plug-and-play fuel cell system

 
 

The EU has decided to approve the EVERYWH2ERE project to develop a ground breaking mobile fuel cell system for temporary power supply in urban environments. PowerCell Sweden AB (publ) is one of twelve companies and institutes participating in the project.

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

The main purpose of the EVERYWH2ERE project is to develop fuel cell systems that are as easy to transport as they are to use.

“The systems are based on the PowerCell S2 and the PowerCell S3, and are developed for plug-and- play. It can be used at construction sites, music festivals and other events where there is a temporary need for electric power. Two advantages of fuel cells are that they are quiet and that they don’t generate any emissions other than water”, says Per Ekdunge, CTO at PowerCell.

The EU wants to benefit from the fuel cell expertise in different EU countries to develop cost-effective solutions that are technically and logistically feasible. In total, the project comprises a financial support amounting to EUR 6.8 million, of which PowerCell’s share amounts to EUR 0.85 million.

“Together with active involvement from local authorities, this project constitutes a door opener for fuel cell technology in to new markets,” concludes Per Ekdunge.

Facts about EVERYWH2ERE
The project begins today February 1, 2018 and extends over five years. The companies and institutes involved in the project together with PowerCell are: RINA Consulting SPA, Italy; VTT Technical Research Centre of Finland Ltd, Finland; Genport SRL, Italy; Swiss Hydrogen SA, Switzerland; Mahytec SARL, France; Fundación para el Desarrollo de las Nuevas Tecnologías del Hidrógeno en Aragón, Spain; Green Music Initiative / Delta1 gUg, Germany; Environment Park SPA, Italy; Acciona Construccion SA, Spain; ICLEI European Secretariat GMBH, Germany and Linde Gas Italia S.r.l, Italy.

Gothenburg, Sweden, February 1, 2018

For further information, please contact:

Per Ekdunge
CTO, PowerCell Sweden AB (publ)
Phone: +46 (0) 739 10 37 02
Email: per.ekdunge@powercell.se

Files for download
PowerCell Pressrelease 2018-02-01 English.pdf PowerCell Per Ekdunge.jpg
PowerCell S2.jpg
PowerCell S3 Hogupplost.jpg

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 power 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.

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.

 
 
 

PowerCell has received Chinese order worth MSEK 6,5

 
 

PowerCell Sweden AB (publ) has received an order worth MSEK 6,5 for the fuel cell stack PowerCell S2 from a Chinese customer.

PowerCell has received yet another Chinese order from a customer who will test the PowerCell S2 together with technology for LOHC, Liquid Organic Hydrogen Carrier. The order value amounts to MSEK 6,5.

“As the PowerCell S2 is performing as well on reformate gas as on pure hydrogen, that stack is a very interesting alternative for the customer. Last year we managed to develop the PowerCell S2 so that the maximum power now is increased to 35 kW, which makes the stack even more attractive. We continue to work close to our customers in order to provide the best service possible,” said Andreas Bodén, Director Sales at PowerCell Sweden AB.

The order is booked by Wuhan Qingyang Energy Research Institute. Delivery will take place during Q1 and Q2 2018.

Gothenburg, Sweden, January 30, 2018

For further information, please contact:

Per Wassén
CEO, PowerCell Sweden AB (publ)
Phone: +46 (0) 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 14:30 CET on January 30, 2018.

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.

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.

 
 
 

PowerCell’s new patent provides better fuel usage

 
 

PowerCell Sweden AB (publ) has been granted a new Swedish patent for an innovation that provides higher fuel efficiency when fuel cell stacks are powered by reformate gas.

PowerCell has registered a new Swedish patent for an innovation that provides even better fuel usage of reformate gas. The innovation provides better and safer mixing of the reformate gas and air, thus providing a more even temperature distribution. This results in higher efficiency and increased life span.

Patents on this innovation have also been sought in several other countries.

The patent can be used in reformer systems for the PowerCell S1 and PowerCell S2 fuel cell stacks, both of which can be powered by reformat gas, i. e. hydrogen produced from for example natural and biogas.

Gothenburg, Sweden, January 22, 2018

For further information, please contact:

Per Ekdunge
CTO, PowerCell Sweden AB (publ)
Phone: +46 (0) 739 10 37 02
Email: per.ekdunge@powercell.se

Files for download
PowerCell Pressrelease 2018-01-22 English.pdf
PowerCell Per Ekdunge.jpg

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 power 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.

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.

 
 
 

Excercise of warrants raises 4.5 million to PowerCell

 
 

The exercise period for warrants in PowerCell Sweden AB (publ) is ended. A total of 368,000 were subscribed, which represents a subscription rate of 99.6 percent.

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

The exercise period for the incentive program with warrants that PowerCell Sweden AB (publ) has offered senior executives and key employees has ended. The warrants program comprises a total of 369,000 warrants that entitle the right to subscribe the same number of new shares. 99.6% of these warrants have been exercised and PowerCell has thereby received a capital injection of SEK 4,508,000.

When the 368,000 newly issued shares have been registered, there will be a total of 51,868,810 outstanding shares in PowerCell. The quota value per share amounts to SEK 0.022, which means that the total share capital will amount to SEK 1,141,113.82.

The new shares will be admitted to trading on First North once the issue has been registered with the Swedish Companies Registration Office and Euroclear. In connection with the exercise of the warrants, a number of senior executives and key employees have increased their holdings in the company.

Gothenburg, Sweden, January 15, 2018

For further information, please contact:

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

Files for download
PowerCell Pressrelease 2018-01-15 English.pdf

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 power 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.

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.