At yesterday’s press day at the international automotive fair IAA in Frankfurt, Germany, Bosch presented a fuel cell system built around PowerCell’s fuel cell stack PowerCell S3.
The English version is an in house-translation. In case of any discrepancy, the Swedish text will prevail.
Bosch was represented by Dr. Volkmar Denner, chairman of the board of management of Robert Bosch GmbH and Dr. Stefan Hartung, member of the board of management and responsible for the Powertrain Solutions and Electrical Drives divisions. Among the things covered by Dr Volkmar was Bosch’s efforts within the fuel cell technology and the cooperation with PowerCell. On display in the Bosch booth was a Bosch fuel cell system based on the PowerCell S3 fuel cell stack.
In April Bosch and PowerCell signed a joint development and licensing agreement regarding the fuel cell stack PowerCell S3 for the automotive segment. The agreement gives Bosch an exclusive, global right to produce and sell the S3 in fuel cell systems for automotive applications. In its communication Bosch has characterized the fuel cell technology as a promising technology for the electrification of heavy-duty vehicles like trucks and buses, and for meeting stricter legislative demands on emissions of carbon dioxide.
The agreement with Bosch includes a joint development of the PowerCell S3 prior to Bosch’s own production of the stack. Bosch has earlier communicated the start of production to 2022, at the latest. Bosch paid PowerCell MEUR 50 (approx. MSEK 530) during the second quarter for the exclusive license. Following start of production, Bosch will pay PowerCell a royalty fee for every product sold during the contract period.
The automotive fair IAA in Frankfurt goes on between September 12 and 22. This year’s theme is “Driving Tomorrow”.
For further information, please contact:
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 Growth Market, Stockholm. G&W Fondkommission is Certified Adviser, e-mail: email@example.com, phone: +46 8 503 000 50.