Everyone who works with mobility struggles with the same things. It's about range and charging time, and we have a solution to offer.
Given all the focus that the fuel cell and hydrogen industry is getting right now, as a sustainable technology for energy conversion and energy storage, we can state that the winds are blowing in our direction and that the company is in a very good position.
I am convinced that we will see and hear a lot about myFC in the future and I want to take the opportunity to wish everyone at the company good luck.
North America is a key market for myFC's ambition to become a global player in fuel cells.
The market has matured and the understanding and acceptance of fuel cells is much greater than just a few years ago. The industry is beginning to come to the realization that batteries alone do not solve all problems
In recent years, sales of cargo bikes have increased by about 50 percent per year in Europe.
We can offer a system that in each application is optimized for the power required by the target system. It provides a system with a minimal spatial footprint, and a very competitive cost.
When it gets cold, the robots' batteries are negatively affected, and they start to perform less well. But a combination with fuel cells can solve the problem.
The demand for new energy solutions is increasing rapidly and the market for fuel cells and hydrogen is huge. MyFC has shown that our fuel cell applications can fill an important gap when it comes to energy supply. I am very pleased with this capital injection which strengthens the company's opportunities to be a part of this fast-growing market.
If one of the fuel cell modules performs less well, the system can identify it. Then it is possible to replace only the specific fuel cell module, you do not need to replace the entire system. In such a situation, it is also possible to switch to a newer and improved version with upgraded features.
The project has kept to the schedule, and we have shown that we can quickly develop new versions of our fuel cell technology, and adapt it for such specific areas.
It ensures that all components work under good conditions, so that they do not misbehave. It can also shut down the application if the system senses some hazards.
Softmobility is one of our priority segments and the project means that we can test and demonstrate the possibilities with our technology in a highly interesting area.
Hydrogen is gaining more and more ground, and this is exactly the boost it needs to establish itself seriously as a fuel in Sweden, says Michael Glantz.
We work purposefully and scientifically to deliver something that takes society forward, towards an increased degree of sustainability.
Given the large investments that are now taking place in the hydrogen area in Europe, and in the rest of the world, we can only look positively to the future.
It enables a cost-effective, individually adapted and more gentle operation.
A billion-dollar industry has emerged, and our technology is becoming an important part of that development.
Nilsson Energy ends up in a perfect environment, where there are many opportunities for synergy effects and development potential.
If we look at our position today, and what the opportunities will look like in the next few years, we can state that we have never had better opportunities.
Nilsson Energy is a long-term player and is seen as a pioneer in green hydrogen production. Together, we can deliver a closed and sustainable cycle with green hydrogen as the basis for our patented fuel cell technology.
Our technology contributes to sustainability, green adaptation, it reduces the climate footprint, creates increased competitiveness and right now we can see that our offer is receiving attention from interesting companies in our priority segments.
We see that the demand for our technology is increasing in large and fast-growing industries where renewable and sustainably produced energy is in focus.
It is an important commercial success for us as an innovation-driven company and for our hydrogen-based and sustainable fuel cell technology, and for its use in our prioritized segment of intralogistics.
India is a very large market where hydrogen technology is getting more and more attention.
We see great opportunities for the logistics industry to increase efficiency, reduce overheads, increase profitability, and also reduce its environmental impact with the help of our sustainable technology.
It is a highly respected company by bicyclists and e-bicyclists around the world, and I am honored to cooperate with them.
We see a great and growing potential for our technology in soft mobility.
I see intralogistics as an industry where our technology can become something of a game changer, both in terms of sustainability and economics.
This will open opportunities for a roll out of the technology with the existing customer, and an opportunity to demonstrate the technology further.
The global logistics industry is facing a transformation and is investing in sustainable automation as part of increasing competitiveness through efficiencies.
Using the fuel cell's waste heat in cold weather does not affect the vehicle's range, but rather increases the vehicle's efficiency.
We are ready to do everything we can to prepare the ground for hydrogen to become a central part of Sweden's path towards sustainability, and for us to become a leading hydrogen country.
We are entering a very exciting time for myFC. The interest in hydrogen solutions is now increasing noticeably from both industry and society. The pattern is familiar from other technology shifts: once the changes in society occur, they occur rapidly. At myFC, we are well prepared for this shift and can capitalize on it.
Toyota's conviction about fuel cells shows how great their confidence in hydrogen technology is, as the energy carrier of the future.
Hydrogen is strong on the rise. It is a green and sustainable solution for the future.
The broad hydrogen discussion is still mainly focused on heavy industry and large vehicles. We predicted early on how fast the market for applications with low power needs would grow and found that no one else has a technology as adaptable as ours to address this market.
The deal opens up interest in several other sectors, one of them is the intralogistics industry where we see great potential, too. Our technology is very suitable for automated logistics robots, such as AMR: s and AGV: s. Forklifts are another possible application.
Our technology is very well suited for soft mobility, smaller electrified vehicles, such as last mile delivery vehicles, scooters and electric bikes, etcetera, where normal battery operation always means limitations. With our fuel cells, it is possible to extend the range considerably compared to be depending on batteries only.
Our technology is ideal for e-mobility as it is specifically developed to provide freedom-in-design, modularity, flexibility and high energy density. The actors in this fast-growing segment are also increasingly attracted to the benefits hydrogen offers. I am very proud to announce this commercial development project with a highly respected component manufacturer within the electric mobility domain.
My task now, together with the other board members, will be to give the company the best possible conditions to succeed. A high-functioning, well-composed board that works closely with the CEO to provide support in various strategic issues and in the company’s long-term financing is crucial for the company to succeed.
The realization that batteries and existing infrastructure will not be able to meet the energy and power needs of an electrified, digital world is spreading among decision-makers and investors. With that insight, the pace of change increases. And here we are: myFC is an established player, known in international fuel cell circuits with an extensive patent portfolio and a unique flexible technical solution that can solve so many problems in a world where hydrogen systems are now being put in place.
Our technological advantages are more than performance figures. What we do is complex, and every breakthrough in the lab needs to be seen in a larger context. Every country that announces its hydrogen strategy means a more clearly defined addressable market for us. As the adoption of hydrogen takes off, authorities and regulators not only look for large systems – there are already clear indications from for example Germany of the commitment to maximize the investment. That requires smaller systems, too. Such as ours.
I’m pleased to bring another engineer into the company, although this one is particularly skilled in finance, too. As I say welcome to Mattias, I would also like to again thank Ulf Henning for his nearly 9 years of service to the company as CFO, and for ensuring an orderly transition to Mattias.
On behalf of the board, I would like to extend my warm thanks to Markus Hermanek for his services to myFC during these years. Markus has built the foundations for myFC to continue to prosper into the future. I am pleased to announce the nomination of Ulf Henning as our new Chairman. He is a seasoned senior executive with experience from several publicly listed companies, and he has a unique, deep understanding of myFC.
A taxi business or delivery service only makes money when the vehicles are rolling, and in order to be charged, electric vehicles must stand still. But if you add a fuel cell to the equation, you can keep the business going uninterrupted without having to invest in, for example, extra batteries. It is an incredibly elegant solution and the whole logic behind our technology development.
This patent is further evidence of our technological edge in the segments we are focused on – 2-4 wheelers, marine applications, and their auxiliary systems. Every industry seeks to simplify production and reduce cost. That makes innovations such as ours, which minimize the number of components, very desirable.
This is a very innovative solution and a highly efficient valve design. One application example is when a single fuel cell is inverted, so that it generates gas rather than converting it to energy. That way a hydrogen activated membrane expands and regulates the flow into the remaining fuel cells for an efficient hydrogen flow regulation and a very simple and cost-efficient production solution.
On June 17, we demonstrated a fully functional concept vehicle using our fuel cell technology for electric propulsion. It was a milestone and an example of what our technology, integrated into our customers’ applications, is capable of. In essence, we showed how our hydrogen fuel cells can offset and solve some of the pain points of batteries, supporting the global shift to electrification.
We are at a point in time when our technology development is well matched with market readiness for hydrogen-based energy solutions. We are in a position where our technology is proven and ready for integration in a wide variety of applications. Market demand for electrified mobility – 2-4 wheelers, marine applications and their auxiliary systems – is growing rapidly in every part of the world. If that was not evident already, the global Covid-19 pandemic has certainly proven that safe, cost-effective, and green last-mile mobility is a necessity in our society.