PowerCell Sweden AB (publ) has received an order for an additional 4 PowerCell S2 fuel cell stacks from the Chinese company Wuhan Tiger Fuel Cell Vehicle Company Ltd. The delivery will take place in the third quarter and is part of the initial order placed by Wuhan Tiger in March 2017 for fuel cell stacks and fuel cell systems.

Wuhan Tiger Fuel Cell Vehicle Company Ltd has started to develop fuel cell powered vehicles for the Chinese market and has launched a fuel cell bus together with the Chinese vehicle manufacturer Skywell. The fuel cell bus was approved for production by the Chinese authorities last year and equipped with PowerCell S2 fuel cell stacks, the company’s buses are now used in daily operation on line 359, a 12 kilometer long bus line with 16 stops running through Wuhan East Lake Development Zone.

In its latest five-year plan the Chinese Government have depicted the fuel cell technology as a promising alternative for phasing out fossil fuels and thereby reducing the emissions of carbon dioxide and hazardous substances like particles and nitrogen. The Chinese authorities have introduced big subsidies for vehicles with fuel cells while at the same time ending the previous subsidy program for battery vehicles.

“The Chinese authorities have realized that an electrification of the road traffic using only battery powered vehicles will not be enough to decrease the emissions of carbon dioxide and hazardous substances”, Per Wassén, CEO of PowerCell said. “Wuhan Tiger is one of several Chinese manufacturers that have started launching extensive tests of fuel cell vehicles.”

In March 2017 Wuhan Tiger placed a larger order with PowerCell for delivery of S2 fuel cell stacks and fuel cell systems. In conjunction with that Wuhan Tiger placed an initial order for a total of 28 PowerCell S2 fuel cell stacks which since have been delivered and used for testing to verify the system and the technology. During the third quarter last year Wuhan Tiger took delivery of an additional 16 fuel cell stacks and with the new order a total of 58 PowerCell S2 stacks will have been delivered.

For more information, please contact:

Per Wassén
VD, PowerCell Sweden AB (publ)
Tel: +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 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. G&W Fondkommission is Certified Adviser, e-mail: ca@gwkapital.se, phone: +46 8 503 000 50.

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