myFC receives order for 2,000 JAQ Hybrid chargers from South Africa
myFC has signed a non-exclusive distribution agreement for the company's fuel cell-based power bank JAQ Hybrid with Trenditrade 21, a franchisee in the Nashua Group. Trenditrade 21 also places an initial order of 2,000 units of JAQ Hybrid and their associated fuel cards.
The Nashua Group delivers smart office solutions to large parts of Sub-Sahara. The agreement with one of its franchisees Trenditrade 21 is myFC's first in Africa, and a breakthrough in markets that are experiencing rapid growth and where the mobile phone has a central role in society and in people's lives.
“It is a breakthrough for us to receive our first order in Sub-Sahara. These are markets where the demand for solution to mobility challenges is high – such as lack of or under-dimensioned infrastructure for charging mobile phones. The region was early to adopt mobile digital services such as e payments, and the gap between user needs and what the infrastructure can cater for is only increasing,” says Björn Westerholm, CEO of myFC.
The delivery of 2,000 JAQ Hybrid chargers is planned to begin in Q2 2019, and includes myFC's new generation of fuel cards, containing twice the energy compared to the previous card.
“I welcome Trenditrade 21 on board. The need for this type of solution on the market or the effect of our new fuel cards can’t be overestimated. The Nashua Group is an important partner in the region and this cooperation will be very exciting for myFC. I feel confident regarding further sales of the JAQ Hybrid in Sub-Sahara,” says Ville Lejon-Avrin, Sales Manager at myFC.
The value of the initial order is not expected to exceed one million SEK.
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 07:50 CET on 18 February 2019.
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MyFC is a Swedish innovation company and market leader in micro fuel cells which develops green energy solutions and markets the underlying components and advantages of its patented technologies to the smartphone world, power bank manufacturers and manufacturers (OEM) in the automotive industry. In 2017, myFC launched its JAQ Hybrid platform, which co-locates fuel cell and battery. JAQ Hybrid is the company's third hydrogen-powered product following JAQ and PowerTrekk. It runs on the company's patented fuel consisting of salt, water and reactants. MyFC was founded in 2005 and is part of the group myFC Holding AB. MyFC Holding was listed on NASDAQ First North in May 2014. Its head office is located in Stockholm and the company's Certified Advisor is Avanza Bank. For more information, visit www.myfcpower.com