PowerCell Sweden has signed a memorandum of understanding with the Norwegian energy company Statkraft regarding a cooperation within energy solutions based on hydrogen and fuel cells.

Statkraft is Europe’s largest producer of renewable energy and is involved in business development activities within renewable hydrogen. In this context, the parties have agreed to jointly examine the possibilities to use hydrogen and fuel cells to locally produce power and heat.

The parties intend to examine the opportunities for stationary power generation for harbors, data centers and for isolated areas such as islands, but also for mobile power solutions, peak shaving and smart grid possibilities connected to renewable energy sources such as wind and solar power.

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)70559114
Email: karin.nilsson@powercell.se                                Email: marten.wikforss@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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