PowerCell Sweden AB (publ) has presented the Full year report. During the quarter, sales were tripled compared to the same period last year, and the company has delivered fuel cell stacks and systems to customers in Asia and Sweden.
During the quarter, German authorities has submitted a final approval of the AutoStack-Industrie project, that is financed by the German Ministry of Transport and Digital Infrastructure. In the project PowerCell, together with BMW, Daimler, Ford and Volkswagen, is developing a fuel cell stack for mass volume applications in the automotive industry.
"It is gratifying that sales were strong during Q4 and that sales during 2017 at large have tripled since last year, while costs for industrialisation and product development are in line with plans. All prioritised segments have increased their sales activities and we are transforming from a development-focused organisation to become increasingly customer oriented. Therefore, it is with great pleasure that we can create value for the environment, our customers and the shareholders of PowerCell," said Per Wassén, CEO of PowerCell.
During the last quarter of 2017, PowerCell booked a deal with Nikola Motor Company, delivered fuel cell stacks and systems to Chinese customers and delivered the PowerCell PS-5 to three different customers.
Gothenburg, Sweden, February 28, 2018
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 08:45 CET on February 28, 2018.