PowerCell started 20 years ago as a development project within the Volvo group, and the industrial spinout was founded in 2008. PowerCell Sweden AB (publ) was listed on Nasdaq First North Growth Market Stockholm 2014 and among the company’s largest owners are Midroc New Technology, Fouriertransform and Finindus.


Early stage and growth venture fund set up by ArcelorMittal and the Flemish Region to invest in high-potential ideas in material technologies.


State-owned venture capital company with the vision to contribute to the success of the internationally competitive Swedish automotive industry.

Midroc New Technology

Swedish Private Equity firm focused on ground-breaking, clean technologies.

Shareholders at 8 May 2020*

Shareholder Number of shares (%)
Bosch GmbH 5,987,740 11.5
Fouriertransform 4,091,512 7.9
Avanza Pension 2,216,733 4.3
Midroc New Technology 1,581,605 3.0
Finindus 1,472,149 2.8
Other 36,519,071 70,4
Total 51,868,810 100.0%

* Source: Euroclear