Robert Bosch GmbH aqcuires Midroc New Technology’s shares in PowerCell Sweden AB

PowerCell Sweden AB has been informed that the German company Robert Bosch GmbH has acquired all Midroc New Technology’s shares in PowerCell Sweden AB. In total 5,848,531 shares, representing 11.3 percent of the votes and capital in PowerCell, has been acquired.

The English version is an in house-translation. In case of any discrepancy, the Swedish text will prevail.

Midroc New Technology is a venture capital company within Midroc Europe, an international company group headquartered in Stockholm. Midroc New Technology has been an owner in PowerCell since 2008 but has gradually decreased its ownership in the company over the last couple of years.

PowerCell and Robert Bosch GmbH signed a joint development and licensing agreement in April regarding the fuel cell stack PowerCell S3 for the automotive segment.

For further information, please contact:

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

This information is insider information that PowerCell Sweden AB (Publ) 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 above, at 08.50 CET on November 15, 2019.

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.