PowerCell gets a follow-on order for PowerCell S3 fuel cell stacks from a global automotive OEM

PowerCell Sweden AB (publ) has received a follow-on order for S3 fuel cell stacks for additional tests from a global automotive OEM. The order value is approximately MSEK 2.6 and delivery is expected to take place during the fourth quarter this year.

The automotive OEM has previously placed orders for PowerCell S3 fuel cell stacks as well as MS-100 fuel cell systems for tests and evaluations. The company now wants to expand its tests of fuel cells and has therefore placed an order for additional PowerCell S3 fuel cell stacks.

The S3 stack is the most powerful of all PowerCell stacks and combine compact design with low weight and high-power density. The stack has been specifically designed and developed for automotive applications.

“The climate crisis and increasingly stricter CO2 emissions regulations presents the automotive industry with an unavoidable transformation”, Per Wassén, CEO of PowerCell said. “This puts the automotive OEMs under a great pressure to electrify their drivetrains, and fuel cells running on hydrogen offer a number of advantages compared to batteries as they provide an electric drive without limited range or time-consuming charging.”

A vehicle running on hydrogen and fuel cells can be re-fuelled almost as quickly as a vehicle running on fossil fuels and has approximately the same range and payload capacity. Another advantage is that electrification with fuel cells and hydrogen does not require investments in a specific charging infrastructure. A fuel cell running on hydrogen produces electricity with no other exhausts than pure water.

“At the recently held automotive fair IAA in Frankfurt it was obvious that the automotive industry is increasing its efforts within the fuel cell technology. Bosch showcased a fuel cell system built around the PowerCell S3 fuel cell stack and several other leading European and Asian OEMs presented different current and coming types of fuel cell vehicles.”

For further information, please contact:

Per Wassén

CEO, PowerCell Sweden AB (publ)
Phone: +46 (0) 31 720 36 20
Email:
per.wassen@powercell.se

About PowerCell Sweden AB (publ) 
PowerCell Sweden AB (publ) develops and produces fuel cell stacks and systems for stationary and mobile applications with a world class energy density. The fuel cells are powered by hydrogen, pure or reformed, and produce electricity and heat with no emissions other than water. As the stacks and systems are compact, modular and scalable, they are easily adjusted to any customer need.

PowerCell was founded in 2008 as an industrial spinout from the Volvo Group. The share (PCELL) is since 2014 subject to trade at Nasdaq First North Growth Market, Stockholm. G&W Fondkommission is Certified Adviser, e-mail: ca@gwkapital.se, phone: +46 8 503 000 50.

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