PowerCell Sweden AB (publ) has received a follow-up order for fuel cell stacks from a leading European vehicle manufacturer at a value of 5.3 MSEK. The stacks will be delivered during the second quarter 2019. Prior to this order the vehicle manufacturer has purchased engineering services from PowerCell and will use the now ordered stacks for tests in vehicles.

During the fall PowerCell delivered engineering services to the OEM and, among other things, assisted the manufacturer in adapting the interface between the fuel cell stack and the manufacturer´s platform. The follow-up order is for fuel cell stacks that will be used in vehicles for tests.

“This is yet another proof of the automotive industry’s steadily increasing interest for the fuel cell technology”, Per Wassén, CEO of PowerCell said. “The climate crisis and the increasingly tough environmental demands is pushing the industry towards electrification. For the mass-volume car market electrification using batteries is not an option due to insufficient grid capacity and lack of charging stations. A true transformation will require the use of fuel cells and hydrogen and an increasing number of manufacturers are coming to realize this.”

Leading power density
PowerCell’s proprietary fuel cell technology has resulted in fuel cell stacks with leading power density and a compact design, making them ideal for the automotive segment where the power to weight and power to size ratio is crucial. Based on its leading position PowerCell has been partner in the German project Autostack Industrie, ASI, with the responsibility to design the fuel cell stack and enable large-volume production of stacks.

ASI is an industrial collaboration project that is partly funded by the German Federal Ministry of Transportation and Digital Infrastructure. The aim of the project is to develop a cost-competitive series production of fuel cell stacks for electric vehicles with commercial introduction after 2020. The German auto manufacturers BMW, Daimler, Volkswagen and the German subsidiary of Ford, are also partners in ASI.  

For further information, please contact:
Per Wassén
CEO, PowerCell Sweden AB (publ)
Phone: +46 (0) 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. G&W Fondkommission is Certified Adviser, e-mail: ca@gwkapital.se, phone: +46 8 503 000 50.

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