The leading Nordic fuel cell company PowerCell Sweden AB (publ) has decided to sell its fuel cells in the Japanese market supported by Inabata & Co., Ltd., a Japanese trading firm. The two companies will jointly showcase PowerCell’s products in a fuel cell exhibition, FC Expo 2017, to be held in Tokyo March 1-3.
PowerCell is a leading fuel cells manufacturer that currently is in a phase of commercialization. With worldwide end users, PowerCell needs proficient distributors who can establish the company's product on the world market. PowerCell's cooperation with Inabata provides PowerCell with a distributor in the interesting Japanese market.
PowerCell expects Inabata's expertise on clean energy will contribute to creating a new synergy in the Japanese market. Inabata's Information & Electronics Division III deals in solar cells and anion exchange membrane (AEM) electrolyzers. Adding PowerCell's fuel cell stacks and systems on the product line-up will lead to enhancing Inabata's value chain.
"PowerCell's unique fuel cells present distinct advantages for our customers. Also, the stacks are compact and therefore easier for customers to apply than competing products. The fact that the stacks have a high energy density, low weight and handling reformate is especially positive", says Takashi Sakakibara, Sales of Inabata.
"This is part of our efforts to implement our distribution strategy, which aims to develop sales of our fuel cell systems and fuel cell stacks in more markets. We are very glad over the agreement with Inabata, and on March 1-3 we will exhibit together at the fuel cell exhibition FC Expo in Tokyo", says Andreas Bodén, Director Sales of PowerCell.
Since earlier, PowerCell has distribution agreements with PowerCell Korea Co. Ltd and PowerTech in South Africa, a cooperation on marketing and sales with Swiss Hydrogen in Switzerland, and a subsidiary in Germany.
The cooperation with Inabata will be strategically important, but has a limited impact on the company's results.
Gothenburg, Sweden, February 10, 2017
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 13:40 CET on February 10, 2017.