myFC Holding AB (publ) interim report January – March 2020

Quarter January – March 2020

• Net sales amounted to SEK 0 (0)
• Operating profit amounted to SEK -10 million (-24)
• Earnings per share amounted to SEK -0.09 (-0,34)

Significant events January – March

• myFC partners with Jotech/Ecar Sweden to realize hybrid vehicle concept
• myFC appoints Per Zetterberg as Head of Sales
• Motor profile Kenth Öhlin invests in myFC
• The nomination committee proposes Johnny Bräster and Klaus Juergen Wiemers to the myFC Board of Directors

Significant events after the end of the period

• myFC appoints Michael Glantz as CEO

Comment from CEO Michael Glantz:

”After the end of the period, the board of myFC Holding asked me to take on the role as CEO of myFC. My answer was a resounding yes. I was recruited as Chief Product Officer to myFC in 2012 and have been part of the corporate management team since. Two years ago, I took on the role as CTO. I know this company well, I have led the work to develop our technology, and I have the deepest respect for my colleagues. I am proud, humble and very motivated to take on the role as Chief Executive Officer.

Our primary focus during the quarter was the development work for the fuel cell battery hybrid vehicle concept that we intend to complete and demonstrate in June. We have managed well under the circumstances. Supplies and capacity have been secured and engineering work is ongoing despite the challenging times due to the COVID-19 pandemic. We are of course fully compliant with the guidelines from the Swedish Public Health Agency (Folkhälsomyndigheten) in order to protect our employees and reduce transmission of the virus in society. The project is progressing according to plan and I expect no delay in our demonstration of the concept vehicle this summer, assuming no new significant COVID-related restrictions are put in place. Whether the demonstration will be a physical or digital event remains to be decided, of course, depending on how the COVID-19 outbreak develops.”

This information is information that myFC 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 below, at 08:00 CET on 24 April 2020.

For further information, please contact: 
myFC Press Office 
Email:  press@myfc.se 
Phone: +46 (0) 738 09 33 83

Certified Adviser
Avanza Bank
Mail: corp@avanza.se
Phone: +46 (8) 409 421 20

About myFC
Swedish innovation company myFC offers thin, scalable fuel cells that are easy to dimension and adapt to any electric application. myFC develops hybrid technology solutions combining batteries and hydrogen-based micro fuel cells for extended usage and reduced carbon footprint. The company was founded in 2005 and was listed on NASDAQ First North Growth Market in 2014. Its headquarters are in Stockholm. For more information, visit myFC.se