PowerCell receives megawatt order worth approximately MSEK 47 through 2023 from European aviation start-up

Regulatory

PowerCell Sweden AB (publ) has received an order from a European aviation start-up company worth a total of approximately MSEK 47 (approximately MEUR 4.5) through 2023. The order includes delivering fuel cell systems with a total capacity of several megawatts as well as engineering services and laboratory testing.  Roughly 75 percent of the order value is expected to impact 2022.

The European start-up company intends to accelerate the development of emissions-free flight by developing a hydrogen-electric powertrain for various aeronautical applications.

“Through this order the company is securing access to a fuel cell capacity of several megawatts during the period in question”, says Richard Berkling, CEO of PowerCell Sweden AB.


“Hydrogen-electric fuel cell solutions are undergoing comprehensive tests in the aviation sector, and in the last few years PowerCell has placed itself as one of the leading suppliers within the segment. This segment has extremely stringent requirements for reliability and performance in relation to weight and volume and will play an important role in developing the fuel cell technology of tomorrow. What we can learn here will be of great use in the future – for us as well as for our customers,” says Richard Berkling, CEO of PowerCell Sweden AB.

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

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 16:05 CET on June 6, 2022.

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.