PowerCell participates in EU project to reduce the cost of hydrogen as fuel

The EU has decided to approve the project HYDRAITE to develop technology to reduce the cost of hydrogen. PowerCell Sweden AB (publ) supplies the project with fuel cell stacks and contributes with expert competence.

The HYDRAITE project is initiated as a response to the European industry's need to reduce the cost of the quality assurance of fuel and thus the cost of hydrogen. The purpose of the project is to study contaminants that arise in the hydrogen supply chain, including contaminants from hydrogen fueling stations, and how this affects the quality of hydrogen. Another goal is to better understand how any pollution in the hydrogen affects the fuel cell performance and sustainability in operation.

The project also aims at setting up three European laboratories (NPL, ZBT and ZSW) with sampling and analysis facilities for fuel units according to ISO standards.

The project consists of Europe's leading fuel cell research institute with PowerCell as the only industrial member and in total, the project comprises a financial support amounting to EUR 3.4 million, of which PowerCell's share amounts to EUR 0.27 million.

"PowerCell has been selected thanks to the company's high-quality fuel cell stacks that offer very high performance and durability. Further factors that have led PowerCell to be chosen as a project member are that the company sells its products openly on the market without being bound to individual manufacturers in the automotive industry", said Jaana Viitakangas, project coordinator, and active at VTT.

Facts about HYDRAITE
The project began on January 1, 2018 and extends over three years. The companies and organizations involved in the project together with PowerCell are: VTT Technical Research Center of Finland, Finland; SINTEF AS, Norway; Comissariat à l'énergie atomique et aux energies alternatives, France; National Physical Laboratory (NPL), United Kingdom; Zentrum für Sonnenergie und Wasserstoff-Forschung Baden-Württemberg (ZSW), Germany and Zentrum für Brennstoffzellen Technik GmbH (ZBT), Germany.

Gothenburg, Sweden, February 8, 2018

For further information, please contact:

Per Ekdunge
CTO, PowerCell Sweden AB (publ)
Phone: +46 (0) 739 10 37 02
Email: per.ekdunge@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 power 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.