MyFC Holding (publ) interim report July – September 2017
Significant events July – September
- Reinforced Group Management: Torbjörn Möller new Chief Operating Officer and Max Rydahl new marketing and sales director
- British Signal Special Opportunities new major owner; Handelsbanken Fonder expands ownership
- New patent granted in Canada
Comment from CEO Björn Westerholm:
“The third quarter of the year has been one of execution. We have strengthened our organization and our finances, we have continued the work to commercialize JAQ Hybrid, and we have begun the development of a Lamina REX prototype.
The work to industrialize JAQ Hybrid is progressing according to plan. As previously communicated, our intention is to initiate phase 2 in our framework agreement with our Chinese customer Telling in 2017. Phase 2 entails a mutual commitment of 400,000 units of JAQ Hybrid.
During and after the end of the quarter we have further strengthened our finances. Our strong liquidity enables continued organizational reinforcements as well as accelerated execution of our prioritized projects. We operate in a highly fast-paced market, and have every intention of continuing to lead the development of fuel cell technology for mobile devices. In order to do that, we need to add further competence to the company.”
The information in this interim report is information that myFC AB (publ) is obliged to make public pursuant to the Swedish Securities Market Act.
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Phone: +46 (0) 738 09 33 83
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