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PowerCell Sweden AB: PowerCell receives follow-on order for S2 stacks from Chinese vehicle integrator worth MSEK 3.8

08:20 PowerCell has received an order for PowerCell S2 stacks from China Fuel Cell Energy Company, CFC, for deliveries during the second quarter 2019. The stacks will be used by a bus manufacturer in Northern China for beta tests in a number of buses. In 2017 the vehicle integration company CFC received several PowerCell S2 fuel cell stacks as well as the fuel cell system PS-5 for alpha tests. The tests have been going well and CFC has now placed a follow-on order for joint beta tests with one of its end-customer, a bus manufacturer in Northern China. PowerCell S2 is a versatile fuel cell stack designed for vehicle applications and with an effect of 1-35 kW. The stack can easily be configurated for series connection for higher outputs. S2 can run on reformed hydrogen, i.e., hydrogen made through reformation of other fuels, and has high resilience to elevated levels of contamination in hydrogen. The PowerCell S2 is made of stainless steel and can withstand vibrations and low temperatures much better than stacks with plates made of graphite, which is the competing technology. This has been a deciding aspect for the customers as the tests will be carried out in Northern China where the climate is colder. To decrease the emissions of carbon dioxide and particles from road traffic, the Chinese Government has stimulated the introduction of electric vehicles. The earlier subsidies on battery vehicles are however being phased out in favour of subsidies for electric vehicles that are using fuel cells and hydrogen. China has realized that fuel cells and hydrogen is the only commercially viable alternative for an electrification of heavy-duty vehicles like trucks and buses, Per Wassén, CEO of PowerCell said. When a gigantic market like the Chinese leads the way, it has a very positive impact on the overall roll-out and development of the fuel cell technology. The PS-5 system earlier received by CFC is being used for alpha tests with one of Chinas largest telecom operators. 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 (http://www.powercell.se/) 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. G&W Fondkommission is Certified Adviser, e-mail: ca@gwkapital.se, phone: +46 8 503 000 50. ----------------------------------------------------------- https://news.cision.com/powercell-sweden-ab/r/powercell-receives-follow-on-order-for-s2-stacks-from-chinese-vehicle-integrator-worth-msek-3-8,c2788955 https://mb.cision.com/Main/16816/2788955/1025964.pdf © Cision
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