PowerCell secures deliveries of vital components
PowerCell Sweden AB (publ) has signed an agreement with Dana Inc., securing the supply of bipolar plates of high quality.
The English version is an in house-translation. In case of any discrepancy, the Swedish text will prevail.
PowerCell and Dana Inc. have signed a supply agreement that secures PowerCell's access to high- quality bipolar plates. The agreement confirms the strong relation between the companies that has evolved since they began to cooperate in 2013.
"Bipolar plates are vital components for the fuel cell stack. The plates transport hydrogen and air in the stack and lead electrons from anode to cathode. Simply put - without those plates, there is no emission-free power generation. This supply agreement is strategically important," says Per Wassén, CEO at PowerCell.
The performance of the fuel cell stack is crucial for PowerCell's customers. The bipolar plates' high technology content and Dana's premium production contribute to the fuel cell stacks' high performance.
"Working with customers like PowerCell, Dana utilizes our excellent material processing knowledge and superior sealing material designs to develop a bipolar plate that enables high power density and provides maximum reliability for the fuel cell stack. We are pleased to be working with PowerCell on creating solutions that will help to reduce emissions," said Dwayne Matthews, president of Dana Power Technologies.
Gothenburg, Sweden, April 25, 2018
For further information, please contact:
CEO, PowerCell Sweden AB (publ)
Phone: +46 (0) 31 720 36 20
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 14:00 CEST on April 25, 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.