MyFC declares JAQ Hybrid ready for delivery, expects orders from Telling to be delayed
Swedish fuel cell company myFC (MYFC) anticipates a delay in orders for JAQ Hybrid from Chinese mobile distributor Telling. The company further states that JAQ Hybrid is now complete, IEC certified and industrialized and ready for delivery.
MyFC signed the three-phase frame agreement with Telling in December 2016. Phase two, with initial orders of JAQ Hybrid, was previously expected to be initiated in Q4 2017. MyFC is now stating it is not expecting any orders under the frame agreement before year-end, but that orders are expected to arrive in 2018. Sales efforts on markets outside China are continuing according to plan.
“We have developed, IEC certified and industrialized JAQ Hybrid in less than a year. Our technology platform is now fully prepared for the coexistence fuel cell and battery, providing the best of both worlds. We are eager for the first order and ready to initiate deliveries of JAQ Hybrid when Telling is ready to place it,” says Björn Westerholm, CEO of myFC.
This information is information that myFC 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 11:30 CET on 14 of December 2017.
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MyFC, a Swedish innovation company and market leader in micro fuel cells, develops green energy solutions. Its JAQ Hybrid platform, which co-locates fuel cell and battery to charge smartphones and tablets, was launched in 2017. JAQ Hybrid is the company's third hydrogen-powered product following JAQ and PowerTrekk. It runs on the company's patented fuel consisting of salt, water and reactants. MyFC was founded in 2005 and is part of the group myFC Holding AB. MyFC Holding was listed on NASDAQ | First North in May 2014. Its head office is located in Stockholm and the company's Certified Advisor is Avanza Bank. For more information, visit www.myfcpower.com