Wuhan Tiger to take delivery of an additional 16 PowerCell S2 fuel cell stacks

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PowerCell Sweden AB (publ) will deliver an additional 16 PowerCell S2 fuel cell stacks to the Chinese company Wuhan Tiger Fuel Cell Vehicle Company Ltd, during the third quarter 2018. The delivery is part of the order placed by Wuhan Tiger in March 2017 for fuel cell stacks and fuel cell systems at a total value of 200 MSEK.

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

Wuhan Tiger Fuel Cell Vehicle Company Ltd has the ambition to develop fuel cell powered vehicles for the Chinese market together with the Chinese vehicle manufacturer Skywell. In a first phase the company will launch a fuel cell powered bus but eventually also a distribution truck.

In March 2017 the company placed an order with PowerCell for delivery of S2 fuel cell stacks and fuel cell systems at a total value of 200 MSEK. In conjunction with that Wuhan Tiger placed an initial order for a total of 28 PowerCell S2 fuel cell stacks which since have been delivered and used for testing to verify the system and the technology. The company’s fuel cell bus was recently approved for production by the Chinese authorities.

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 below, at 15.30 on June 28, 2018.

For more information, please contact:

Per Wassén
VD, PowerCell Sweden AB (publ)
Tel: +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 Stockholm with G&W Fondkommission as Certified Adviser.