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PowerCell secures deliveries of vital components

 
 

PowerCell Sweden AB (publ) has signed an agreement with Dana Inc., securing the supply of bipolar plates of high quality.

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

PowerCell and Dana Inc. have signed a supply agreement that secures PowerCell’s access to high- quality bipolar plates. The agreement confirms the strong relation between the companies that has evolved since they began to cooperate in 2013.

“Bipolar plates are vital components for the fuel cell stack. The plates transport hydrogen and air in the stack and lead electrons from anode to cathode. Simply put – without those plates, there is no emission-free power generation. This supply agreement is strategically important,” says Per Wassén, CEO at PowerCell.

The performance of the fuel cell stack is crucial for PowerCell’s customers. The bipolar plates’ high technology content and Dana’s premium production contribute to the fuel cell stacks’ high performance.

“Working with customers like PowerCell, Dana utilizes our excellent material processing knowledge and superior sealing material designs to develop a bipolar plate that enables high power density and provides maximum reliability for the fuel cell stack. We are pleased to be working with PowerCell on creating solutions that will help to reduce emissions,” said Dwayne Matthews, president of Dana Power Technologies.

Gothenburg, Sweden, April 25, 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 14:00 CEST on April 25, 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.

 
 
 

Press release from PowerCells Annual General Meeting 2018

 
 

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

PowerCell Sweden AB (publ) held on Wednesday 18 April 2018 Annual General Meeting (“AGM”) in the company’s premises at Ruskvädersgatan 12 in Gothenburg.

Powercell Sweden AB (publ) held on Wednesday 18 April 2018 Annual General Meeting (“AGM”) in the company’s premises at Ruskvädersgatan 12 in Gothenburg. Chairman of the meeting was Eric Ehrencrona from MAQS Advokatbyrå. The following main resolutions were resolved upon.

Profit and loss account and balance sheet and allocation of loss
The AGM resolved that the profit and loss account and the balance sheet produced to the general meeting, including the consolidated profit and loss account and consolidated balance sheet, be duly adopted.

The AGM approved the Board of Directors’ proposal regarding the appropriation of earnings and resolved as per the balance sheet the unappropriated earnings of SEK 187,018,712 shall be carried over to the new balance sheet.

Discharge of liability
The AGM resolved that the directors of the board and the managing directors during 2016 be discharged from liability during the financial year of 2017.

Directors of the board and auditor
The AGM resolved to newly elect Mattias Silfversparre and Hasse Johansson as directors of the board and to re-elect Åsa Severed, Dirk De Boever, Magnus Jonsson, Göran Linder and André Martin. Magnus Jonsson was appointed as chairman of the board. The number of directors will be seven and the number of alternate directors will be zero.

The AGM resolved to appoint the registered accounting firm Öhrlings PricewaterhouseCoopers AB as auditor. It was noted that Öhrlings PricewaterhouseCoopers AB has appointed Birgitta Granquist as principal auditor.

The Board of Directors’ remuneration etc.
The AGM resolved to approve the proposal by the Nomination Committee that remuneration to the board shall be paid as follows:

Remuneration paid to the Board of Directors for the period between the present AGM until the next AGM shall be SEK 850 000 kronor, of which the chairman of the Board of Directors shall be paid SEK 250,000, and each of the other directors elected by the AGM who are not employed by the company, SEK 100,000. No remuneration shall be paid to the Remuneration Committee and the Audit Committee since these committees consist of the board.

Remuneration to the auditor shall be paid as per invoices received and approved by the company.

The complete proposal of the Nomination Committee is available on the website of the company (www.powercell.se).

Nomination Committee
The AGM resolved, in accordance with the proposal put forth, to maintain (according to the previously applied principles) a Nomination Committee that will be responsible for preparing and presenting proposals to the AGM regarding the number of directors of the board, remuneration to the Board of Directors, directors of the board and chairman of the board, chairman of the AGM, auditor and remuneration to the auditor.

The complete proposal of the Board of Directors is available on the website of the company (www.powercell.se).

Resolution on guidelines for remuneration for senior executives of the company The AGM approved the Board of Directors proposal regarding guidelines for remuneration to executives of the company.

The complete proposal of the Board of Directors is available on the website of the company (www.powercell.se).

Resolution to authorize the Board of Directors to issue shares and/or warrants and/or convertibles
The AGM resolved to authorize the Board of Directors to resolve, on one or several occasions, on issue of shares and/or warrants and/or convertibles during the time until the next AGM for payment in cash and/or with terms regarding set-off or issue in kind or otherwise with terms and thereby deviate from the preferential right of the shareholders.

The issues shall be done to a marketable issue price determined by the board in consultation with the company’s financial advisers, taking into consideration any marketable issue-discount.

The number of shares that could be issued, or the number of shares that could be subscribed for through warrants, or the number of shares that convertibles could be converted into shall amount to a total of 5,763,200 new shares.

The purpose of the authorization and the reason to deviate from the preferential right of the shareholders is that issues shall be possible for financing the company’s business, commercialization and development of the company’s products and markets and/or acquisition of businesses, companies or parts of companies and/or enable a broadening of the owner base of the company.

The complete proposal of the Board of Directors is available on the website of the company (www.powercell.se).

Gothenburg, Sweden, April 18, 2017

For further information, please contact:
Per Wassén
CEO, PowerCell Sweden AB (publ) Phone: +46 (0) 765 533 771
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.

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 a repeat order worth MSEK 2.3

 
 

PowerCell Sweden AB (publ) has received yet another order from a Chinese customer who will test the PowerCell S2 in commercial vehicles. The order value amounts to MSEK 2.3.

PowerCell has received a repeat order from a Chinese customer for PowerCell S2 fuel cell stacks. The customer will test the stacks in commercial vehicles.

“Last year, PowerCell managed to develop the PowerCell S2 stack and increase its maximum power to 35 kW. This improvement has substantially enhanced the attractivity of the stack. This new repeat order proves that our product is an interesting alternative for customers aiming at diminishing or even eliminating emissions,” says Per Wassén, CEO of PowerCell Sweden AB.

The order value amounts to MSEK 2.3 and the stacks will be delivered during Q2 2018.

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

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 13:40 CET on April 17, 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 fuel cell technology will make vessels emission-free

 
 

PowerCell Sweden AB (publ) participates, through the company’s joint venture Hyon AS, in a project to develop emission-free vessels.

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

In Norway, the Tröndelag county council has signed contracts with five consortia, which have been commissioned to develop emission-free vessels. Hyon, the joint venture established by PowerCell together with the Norwegian companies Nel and Hexagon Composites, participates in one of the five consortia that have been selected.

“The development project lasts for two years and is a proof of how attractive Hyon’s offer is. The contract presents an opportunity for us at PowerCell to develop our network thorough Hyon, while providing us with an ability to create knowledge and customize our product offering,” said Andreas Bodén, Director Sales & Aftermarket at PowerCell.

Shipping is crucial for linking locations along the Norwegian coast. Compared to other modes of transports, shipping can cut more than half the travelling time, which is why business expects an increase in transport needs along the coast. At the same time, today’s motor vessels generate the highest emissions per passenger kilometre, which implies a great potential for fuel cells in the marine industry.

The development project is strategically important but has a limited impact on the company’s results.

Read more:
www.hyon.no
https://www.trondelagfylke.no/nyhetsarkiv/jakten-pa-fremtidens-hurtigbat/

Gothenburg, Sweden, April 16, 2018

For further information, please contact:

Andreas Bodén
Director Sales & Aftermarket, PowerCell Sweden AB (publ)
Phone: +46 (0) 73 910 37 07
Email: andreas.boden@powercell.se

Tomas Tronstad
Managing Director, Hyon AS
Phone: +47 936 50 766
Email: tomas.tronstad@hyon.no

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 has received a prototype order from an international Tier 1 supplier

 
 

PowerCell Sweden AB (publ) has received a prototype order from an international Tier 1 supplier for PowerCell S3 fuel cell stacks worth MSEK 6.

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

The PowerCell S3 fuel cell stack has an outstanding energy density and is primarily designed for automotive applications. The stack is based on industrial components and is thus suitable for high volume production.

– We are proud to deliver our PowerCell S3 to this international Tier 1 supplier, says Per Wassén, CEO of PowerCell.

The order is worth MSEK 6.9. Deliveries of the PowerCell S3 stacks are scheduled to start in May 2018.

Gothenburg, Sweden, April 11, 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

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 16:55 CET on April 11, 2018.

Files for download
Powercell Pressrelease 2018-04-11 English.pdf
PowerCell S3.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 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.