PowerCell Sweden presents the Interim Report for April to June 2016

The leading fuel cell company PowerCell Sweden AB (publ) presents its interim report for April to June 2016.

PowerCell Sweden AB presents its interim report for April to June 2016.

"We see a continued increase in customer interest in several markets. During the second quarter, we made several sales of our PowerCell S1 for stationary applications and prototyp of PowerCell S2 REX (Range Extender) and prototypes of PowerCell S3 for automotive and truck applications. Furthermore, we entered into several important collaborations with partners that will further pave the way for the continued success of our continued development of new products and solutions", said Per Wassén, CEO of PowerCell Sweden AB.

The interim report Q2, 2016 shows following important events during this period:

  • Continued increase in customer interest and significant improvement in net sales
  • Several completed sales of PowerCell S1 for stationary applications, a prototyp of PowerCell S2 REX (Range Extender) and prototypes of PowerCell S3 for automotive and truck applications
  • A strategically important global customer placed an order of a prototype of PowerCell S2 and will use the prototype to micro-CHP (Combined Heat and Power) for housing in the South Korean market
  • An agreement of cooperation - MOU with Swiss Hydrogen, where the intention is cooperation in the development and sales of complete systems, with initial focus on the transportation sector
  • The tests with Telia, which were completed during the summer, have been successful and are now being evaluated together with the customer in order to outline the next steps
  • The Autostack Core project has progressed according to plan

Read the report at: Financial reports

For the complete Interim Report, see attached document.

Gothenburg, Sweden, August 16, 2016

For further information, please contact:

Per Wassén
CEO, PowerCell Sweden AB (publ)
Phone: +46 (31) 720 36 20
Email: per.wassen@powercell.se

The information in this press release is information that PowerCell Sweden AB (publ) is obliged to make public pursuant to the Act (1991:980) on Financial Instruments Trading, the Act (2007: 528) regarding the Market of Securities and / or the EU regulation no. 596/2014 on Market Abuse.

About PowerCell Sweden AB (publ) 
PowerCell Sweden AB (publ) is the leading fuel cell company in the Nordics, which develops and produces environmentally friendly power systems for stationary and mobile customer applications.

PowerCell has developed a modular system of fuel cell platforms, powered by clean environmentally friendly produced hydrogen where only electricity, heat and water are emissions. The fuel cells are also designed to handle the reformed hydrogen from e.g. biogas, natural gas, biodiesel or standard diesel.

In case hydrogen infrastructure is missing, PowerCell has combined its leading fuel cell and reformer technology and developed a fuel cell system, PowerPac, which converts standard diesel, with hydrogen, into electricity. This is done in an energy-efficient and environmentally friendly way, in which emissions of carbon monoxide, nitrogen oxides and particles are completely eliminated and the carbon dioxide is greatly reduced compared with a conventional diesel engine.

PowerCell Sweden AB (publ) is listed on First North at Nasdaq Stockholm and is an industrial spinout from the Volvo Group. G&W Fondkommission is appointed Certified Adviser by the Company. Among the largest owners are Midroc New Technology, Fouriertransform, Finindus and Volvo Group Venture Capital. For additional information, please visit: www.powercell.se

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