PowerCell receives order for marine fuel cell module from Siemens Energy as part of extended cooperation


PowerCell Sweden AB and Siemens Energy have signed an agreement covering an extended cooperation in the area of fuel cell-based propulsion and power generating systems for marine applications. The agreement is based on the Memorandum of Understanding signed by both companies in August 2018.
As part of the extended cooperation, Siemens Energy has placed an order for a 100kW marine fuel-cell module.

Siemens Energy will use the module for tests related to the company’s development of fuel cell-based marine systems for propulsion and power generation. The module that has been ordered has an output of 100kW and is based and represent the first step in translating the strategic partnership between Siemens Energy and PowerCell into offers to the market.

In August 2018, PowerCell Sweden AB and Siemens Energy signed a Memorandum of Understanding regarding joint development of fuel cell-based propulsion and power generating systems for marine applications. The two companies have since formalized their cooperation through an agreement under which both companies receive the status of preferred supplier within the collaboration area. Siemens Energy has participated in, for example, the development of central power components for the Marine System 200 that PowerCell unveiled in 2021.

“It is gratifying to see that our joint efforts to create an integrated offering to the market are beginning to yield results. Our partnership with Siemens is an important part in accelerating the transition to zero emissions energy solutions where our combined offer reduces complexity and risk for the customer. For PowerCell, this is a confirmation of the value creation we add through our concept ‘Industrialized Innovation’, where we can make quick customer adaptations that generate high customer value based on our industrialized product portfolio”, Richard Berkling, CEO of PowerCell said.

For further information, please contact:

Richard Berkling
CEO, PowerCell Sweden AB (publ)
Tel: +46 (0) 31 720 36 20
E-mail: richard.berkling@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) has been subject to trade at Nasdaq First North Growth Market Stockholm since 2014. G&W Fondkommission is Certified Adviser, e-mail: ca@gwkapital.se, Tel: +46 (0) 8 503 000 50.