PowerCell Sweden presents the Interim Report for Q3 2015

The leading fuel cell company PowerCell Sweden AB (publ) presents its interim report for July to September 2015. The third quarter of 2015 has for instance meant increased customer interest, numerous inquiries and significantly improved net sales.

Powercell Sweden AB now presents its interim report for July to September 2015. It shows that:

  • Increased customer interest, numerous inquiries and significantly improved sales.
  • Commissioning of an S1 fuel cell system in an energy smart house - a house with electricity from its own fuel cells, off-grid and with self-produced hydrogen from solar cells. A reference plant with future market potential. 
  • Delivery of the first S2 fuel cell stacks of 25 kW to a German company. 
  • Successful achievement of goals and preparation of the next step in the development of the S3 fuel cell platform. The S3 is a 100 kW fuel cell stack platform for automotive application in an EU project (AutoStack Core) with partners, e.g. BMW, VW and which is developed with a number of large suppliers and research institutes.
  • The PowerPac prototypes is undergoing final adjustments to customer applications and internal final testing prior to delivery to Vodacom (South Africa), Gulf Organization for Research and Development, GORD (Qatar) and ASKO/Thermoking (Norway).
  • PowerCell has been granted two additional patents by the US Patent Office. Both patents relate to methods and devices for reforming diesel and other liquid fuels into hydrogen for use with PowerCell's fuel cells. The design of the reformer is key to PowerCell's PowerPac, which makes it possible to use diesel fuel and existing infrastructure together with PEM fuel cells.

"PowerCell's fuel cell technology is now needed. Emission damage from fossil fuels like petrol and diesel has created enormous challenges in terms of today's climate threats. The technology exists and Powercell highly skilled engineers as a result of 20 years of research has developed leading-edge products that are extremely well strategically positioned to contribute to the environmental improvement", said Per Wassén, CEO of PowerCell Sweden AB

Read the report at: Financial reports

Gothenburg, Sweden, November 2, 2015

For additional information please contact:
Per Wassén
CEO, PowerCell Sweden AB (publ)
Phone: +46 76 553 37 71
Email: per.wassen@powercell.se

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. Among the largest owners are Midroc New Technology, Fourier Transform, Finindus and Volvo Group Venture Capital. For additional information, please visit: www.powercell.se

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