PowerCell Sweden AB (publ) (http://www.powercell.se) has joined the European Clean Hydrogen Alliance, a European Union initiative launched to support the introduction of hydrogen within the EU. The aim of the Alliance is to make EU leading within the hydrogen area and to utilize hydrogen and hydrogen technologies to support EU’s ambition to become carbon neutral by 2050.

The European Clean Hydrogen Alliance aims at an ambitious deployment of hydrogen technologies by 2030, bringing together renewable and low-carbon hydrogen production, demand in industry, mobility and other sectors, and hydrogen transmission and distribution. in the steel or chemical sectors. The European Clean Hydrogen Alliance was announced as part of the new industrial strategy for Europe in March 2020. It is part of efforts to accelerate the decarbonization of industry and maintain industrial leadership in Europe.

For PowerCell, the participation in the alliance will provide the company with an opportunity to be involved in defining which projects and investments are to be made within the hydrogen area and the EU Green Deal framework.

“We are pleased to join the Clean Hydrogen Alliance and to work with the other stakeholders who share the same vison of how hydrogen can help contribute to a decarbonized future. In the alliance, we will contribute with our expertise regarding the role fuel cells can play for the energy transition and for accelerating the transition to a zero-emission economy”, Per Ekdunge, Vice President of PowerCell Sweden said.

Hydrogen is regarded by the EU as a key enabler for a transition to a more sustainable production and use of energy and for reaching the targets for the European Green Deal. Last July, the EU launched an ambitious Euro 430 bn hydrogen strategy with the objective to, among other things, support the installation of at least 40 gigawatts of renewable hydrogen electrolyzers up until 2030.

For further information, please contact:

Per Ekdunge
Vice President, PowerCell Sweden AB (publ)
Phone: +46 (0) 31 720 36 20
Email: per.ekdunge@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 Growth Market, Stockholm. G&W Fondkommission is Certified Adviser, e-mail: ca@gwkapital.se, phone: +46 8 503 000 50.

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