PowerCell Sweden AB has received an order for PowerCell S3 fuel cell stacks from Bosch at a total value of approximately MSEK 9.7 (901,000 Euro). The order will be delivered during the beginning of next year and impact the earnings for the first quarter 2021.

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

The order comprises several PowerCell S3 fuel cell stacks to be delivered to Bosch within the framework of the joint development and licensing agreement. In April 2019 Robert Bosch GmbH and PowerCell Sweden signed an agreement regarding the development, production and sale of the PowerCell S3 fuel cell stack for the automotive segment. The agreement includes a joint development of the S3 and a license whereby Bosch gets the exclusive right to produce and sell the new and improved version of PowerCell S3 for automotive applications such as cars, trucks and buses.

For further information, please contact:

Karin Nilsson                                                                 Mårten Wikforss

CEO, PowerCell Sweden AB (publ)                                 Investor Relations

Phone: +46 (0) 31 720 36 20                                            Phone: +46(0)705591149

Email: karin.nilsson@powercell.se                                Email: marten.wikforss@powercell.se

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 above, at 15:45 CET on November 6, 2020.

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 Growth Market, Stockholm. G&W Fondkommission is Certified Adviser, e-mail: ca@gwkapital.se, phone: +46 8 503 000 50.

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