As the first company ever, PowerCell's Norwegian joint venture Hyon AS, has received an approval-in-principle from the world-leading certification company DNV GL for a fuel cell-based power generating unit for vessels. The unit is built on the PowerCell MS-100 fuel cell system, paving the way for a wide use of fuel cells in ships.

"The approval is a milestone that not only shows that our fuel cells are able to meet the tough demands in maritime applications, but also opens up new markets for us," said Per Wassén, CEO of PowerCell.

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

Hyon AS is a joint venture owned by PowerCell and the two Norwegian companies Nel and Hexagon Composites, which manufactures, among other things, electrolysers and hydrogen gas tanks. Based on the three companies' products and know-how, Hyon has developed a complete and module-based power generation solution for ships that now has received an approval-in-principle from the certification company DNV GL. DNV GL is a world-leading certification company and one of the world's largest classification societies for ships and offshore. This is the first time that a power generating unit based on hydrogen and fuel cells receives an approval for use in ships from DNV GL.

Commercial shipping affects the environment, through emissions of both carbon dioxide and particles, and the International Maritime Organization, IMO, has set the goal of halving emissions from shipping by 2050. In order to achieve that goal, increased use of non-fossil and renewable fuels will be required for both propulsion and power generation.

"A power generating unit based on fuel cells is significantly smaller than one based on diesel or gas with equal power and does not emits greenhouse gases, particles, sulphur or nitrogen oxides," said Arild Eiken, Maritime Technical Manager of Hyon AS.

"As the shipping industry is changing, hydrogen fuel cells will become a very attractive alternative. Already, confirmed field tests that utilise fuel cells and combinations of fuel cells are already under way for different types of vessels," said Arild Eiken.

The now approved fuel cell solution can be installed above or below the main deck and encompasses cabinets from 100kW up to containers of megawatt power.

For further information, please contact:

Per Wassén
CEO, PowerCell Sweden AB (publ)
Phone: +46 (0) 31 720 36 20

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.

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