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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.

 
 
 

Chinese million order to PowerCell

 
 

PowerCell Sweden AB (publ) has received an order from a Chinese customer to deliver fuel cell stacks to be used as a range extender in passenger cars.

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

An established and innovative vehicle company from China has placed an order for PowerCell S2 fuel cell stacks, worth approximately SEK 1 million. The customer, who develops passenger cars powered by fuel cells, will test the fuel cell stacks in the company’s electric cars.

“China has high ambitions in replacing today’s fossil-dependent vehicle fleet with electric vehicles powered by batteries and fuel cells, and has extensive support for the construction of these so-called New Energy Vehicles. This support has recently been adjusted to benefit fuel cell cars, and simultaneously we see cities and individual companies taking own initiative to further accelerate the conversion. We are proud to be able to contribute”, said Per Wassén, CEO of PowerCell Sweden AB.

For several years, the customer has used battery power in their vehicles, but has found that the limited capacity of the power grid, the lack of access to charging posts and the slow charging of the batteries limit the potential of progress.

“The fuel cell stacks, 20 kW each, ordered by the customer will be used as so-called range extenders in the cars. This makes it possible to drive a lot further than if you were forced to rely solely on battery power. It’s a smart way to combine the respective benefits of batteries and fuel cells, and it’s a background to the growing interest in fuel cells”, concluded Per Wassén.

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 below, at 16:30 CET on January 9, 2018.

Gothenburg, Sweden, January 9, 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

Files for download
PowerCell Pressrelease 2018-01-09 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. PowerCellwas 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.

 
 
 

Nomination committee appointed for PowerCell’s 2018 AGM

 
 

The general meeting in May 2017 decided to appoint a nomination committee for PowerCell Sweden AB (publ), consisting of one representative each from the three largest shareholders as of September 30, 2017, plus one representative from the board of PowerCell. These representatives have now been appointed.

The three largest shareholders in PowerCell as of 30 September 2017 were: Midroc New Technology AB, Fouriertransform AB and Finindus. The companies have appointed one representative each as below, and they, together with the representative from the board, form PowerCell’s nomination committee 2018.

In accordance with the decision of the general meeting, the following members have been appointed: Carl Backman, representing Fouriertransform, Oscar Ahlgren, Västra Hamnen Corporate Finance AB, representing the Midroc Group, Hans Maenhout, representing Finindus. Magnus Jonsson convener member of the nomination committee of PowerCell Sweden AB.

PowerCell’s annual general meeting for 2018 will take place at 15.00-17.00 on April 18, 2018 at PowerCell Sweden, Ruskvädersgatan 12 in Gothenburg, Sweden.

Shareholders wishing to submit proposals to PowerCell’s nomination committee are welcome to do so via e-mail to: valberedning@powercell.se or by writing to: PowerCell Sweden AB, Attn: Nomination Committee, Ruskvädersgatan 12, SE-418 34 Gothenburg, Sweden, by February 15, 2018 at the latest.

Gothenburg, Sweden, December 21, 2017

For further information, please contact:

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

 
 
 

Germany has decided to invest in a fuel cell project in which PowerCell participates

 
 

PowerCell Sweden AB (publ) has received a final decision from the German authorities about the AutoStack-Industrie (ASI) project. In the project, Germany is aiming to develop a fuel cell platform for the German automotive industry.

The German Ministry of Transport and Digital Infrastructure has decided to finance the AutoStack-Industrie cutting edge project. As previously communicated, PowerCell is one of the project’s partners, together with BMW, Daimler, Ford and Volkswagen, as well as subcontractors. For PowerCell, the decision entails an additional EUR 3.1 million for the first phase of the project.

- The announcement was expected and pleasing. The decision means that we, together with German vehicle manufacturers and subcontractors, can develop a platform for fuel cell technology that provides the basis for a large-scale production of hydrogen powered cars, says Per Ekdunge, CTO for PowerCell Sweden and CEO of PowerCell’s German subsidiary.

PowerCell manages two of ASI’s subprojects. One includes the construction of the fuel cell stack and the other develops the technology that enables mass production of fuel cell stacks.

- The ASI project facilitates the commercialization of fuel cell technology in the automotive industry. Since fuel cells generate electricity without emissions other than water, the project represents a major step towards a sustainable transport sector, concludes Per Ekdunge.

Gothenburg, Sweden, December 15, 2017

For further information, please contact:

Per Ekdunge
CTO, PowerCell Sweden AB (publ)
Phone: +46 (0) 739 10 37 02
Phone: +49 69 3085 54 71
Email: per.ekdunge@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 below, at 8:45 CET on December 15, 2017.

Files for download
PowerCell Pressrelease 2017-12-15 English.pdf
PowerCell Per Ekdunge.jpg
BMVI Office Farbe en.jpg
NOW en Logo two-lines.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 is supported by the BMVI for the AutoStack-Industrie project

 
 
 

Skellefteå Kraft selects PowerCell PS-5 to generate electricity on days when the sun does not shine

 
 

Skellefteå Kraft has initiated the Zero Sun Project, a standard villa that is disconnected from the power grid and is self-sufficient by solar power. PowerCell Sweden AB (publ) will deliver the fuel cell system that provides electricity during the dark hours of the year.

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

Skellefteå Kraft has initiated the Zero Sun Project as a real-time experiment and wants to challenge the public’s way of looking at power supply.

“When conditions are as their worst in Skellefteå, it can be as little as zero hours of sunshine, dark and very cold. Thus, it is more challenging to build a fossil-free self-sufficient house in northern Sweden’s climate than to do it further south”, says Christoffer Svanberg, head of business innovation at Skellefteå Kraft.

The 140 m2 villa has a self-sufficient energy system based on solar cells, batteries, hydrogen and fuel cells. PowerCell will supply the PowerCell PS-5 fuel cell system, which will generate electricity for the house’s needs during the dark hours of the year.

“This is an inspiring initiative. The world needs more renewable energy, and Skellefteå Kraft’s project shows how households can become more sustainable. It feels good that PowerCell can contribute to this conversion”, says Per Wassén, CEO of PowerCell Sweden.

Zero Sun Project is being developed by Skellefteå Kraft in cooperation with Hans-Olof Nilsson. Hans- Olof Nilsson has built his own self-sufficient house in Gothenburg, which is also based on the PowerCell PS-5.

Facts
The PowerCell PS-5 is a fuel cell system based on the robust fuel cell stack PowerCell S2. The system is environmentally friendly, quiet and reliable and is designed to generate electricity for household and commercial real estate, but also for backup systems for telecom and traffic systems.

PowerCell PS-5 is available in three versions from 1 to 5 kW.

Gothenburg, Sweden, December 13, 2017

For further information, please contact:

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

Files for download
PowerCell Pressrelease 2017-12-13 English.pdf
PowerCell Building the Zero Sun Project 1.png
PowerCell Building the Zero Sun Project 2.png
PowerCell PS-5.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.