PowerCell gets additional order for S3 fuel cell stacks from Tier 1 supplier

PowerCell Sweden AB (publ) has received an additional order for fuel cell stacks from the Tier 1 automotive supplier that put a first order for the same type of stacks in April this year. The new order is worth approximately 10 MSEK and will be delivered during the third and fourth quarter 2018.

The English version is an in house-translation. In case of any discrepancy, the Swedish text will prevail.

The customer is an international Tier 1 supplier and this latest order is a supplementary order to the order from last April. This order is for the same type of fuel cell stacks, the PowerCell S3, as the first order. The total value of the order from April amounted to 6.9 MSEK and the new order amounts to approximately 10 MSEK.

The PowerCell S3 fuel cell stack has an outstanding power density and is primarily designed for automotive applications. The stack is manufactured from industrial components and is highly suitable for mass production.

For further information, please contact:

Per Wassén

CEO, PowerCell Sweden AB (publ)

Phone: +46 (0) 31 720 36 20

Email: per.wassen@powercell.se

This information is insider information that PowerCell Sweden AB (Publ) 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 08:30 CET on July 16, 2018.

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 Stockholm with G&W Fondkommission as Certified Adviser.

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