PowerCell signs important agreement with 3M to meet the growing market for fuel cell stacks
- to secure deliveries of MEA with high quality and performance
Leading fuel cell company PowerCell Sweden AB (publ) has signed an important agreement with world-leading 3M to secure future supplies of MEA (Membrane Electrode Assembly). The agreement with 3M secures PowerCell's supplies for the increased demand of the fuel cell stacks PowerCell S1 and S2.
PowerCell has signed an agreement with the global company 3M to secure larger supplies of MEA (Membrane Electrode Assembly), a unit used in the manufacturing of PowerCell's fuel cell stacks, the PowerCell S1 and PowerCell S2. With the agreement with 3M, PowerCell will secure large volumes of MEA with high quality and performance.
Increased demand for fuel cell stacks
The agreement with 3M allows PowerCell to meet the increased demand for PowerCell's fuel cell stacks, the PowerCell S1 and PowerCell S2.
"MEA are necessary in the manufacturing of fuel cells, which means that secure supplies of these are very important to us in our continued production of our fuel cell stacks PowerCell S1 and PowerCell S2. As we see an opportunity of increased demand for our fuel cell stacks, we needed to ensure we get the volume of MEA that we need to meet this demand. By 3M's advanced MEA technology they can deliver MEA of high quality and performance. 3M meets our high MEA requirements which make them the right choice of supplier for us now and in the future", said Per Wassén, CEO, PowerCell Sweden AB.
3M is a world-leading global provider of MEA in the rapidly growing fuel cell market. Through significant investments in expertise and financial resources, 3M has developed advanced materials and manufacturing processes that improve the performance and quality of the MEA.
"3M is always positive to contribute to a more sustainable society, this time together with fuel cell company PowerCell Sweden and their extensive knowledge in fuel cell technology. Their unique expertise in fuel cell technology is receiving an increasing attention worldwide and we are happy to be a part of their important work for a more sustainable future in areas such as the automotive industry", said Lars Näslund, Managing Director, 3M Nordic Region
More about MEA
PowerCell uses PEM-technology (Proton Exchange Membrane) in their fuel cell stacks, which are the best choice for automotive applications. PEM is the most common technology used today because of its reliable and dynamic properties enabling full output power i.e. force within seconds. PEM fuel cell consists of bipolar plates and membrane electrode device called MEA (Membrane Electrode Assembly). The MEA contains electrodes where the reactions take place and an electrolyte created of an ion-conducting membrane.
Gothenburg, Sweden, October 6, 2016
For further information, please contact:
Per Wassén
CEO, PowerCell Sweden AB (publ)
Phone: +46 (31) 720 36 20
Email: [email protected]
The information in this press release is information that PowerCell Sweden AB (publ) is obliged to make public pursuant to the Act (1991:980) on Financial Instruments Trading, the Act (2007: 528) regarding the Market of Securities and / or the EU regulation no. 596/2014 on Market Abuse.
About PowerCell Sweden AB (publ)
PowerCell Sweden AB (publ) is the leading fuel cell company in the Nordics, which develops and produces environmentally friendly power systems for stationary and mobile customer applications.
PowerCell has developed a modular system of fuel cell platforms, powered by clean environmentally friendly produced hydrogen where only electricity, heat and water are emissions. The fuel cells are also designed to handle the reformed hydrogen from e.g. biogas, natural gas, biodiesel or standard diesel.
In case hydrogen infrastructure is missing, PowerCell has combined its leading fuel cell and reformer technology and developed a fuel cell system, PowerPac, which converts standard diesel, with hydrogen, into electricity. This is done in an energy-efficient and environmentally friendly way, in which emissions of carbon monoxide, nitrogen oxides and particles are completely eliminated and the carbon dioxide is greatly reduced compared with a conventional diesel engine.
PowerCell Sweden AB (publ) is listed on First North at Nasdaq Stockholm and is an industrial spinout from the Volvo Group. G&W Fondkommission is appointed Certified Adviser by the Company. Among the largest owners are Midroc New Technology, Fouriertransform, Finindus and Volvo Group Venture Capital. For additional information, please visit: www.powercell.se
About 3M
3M captures the spark of new ideas and transforms them into thousands of ingenious products. Our culture of creative collaboration inspires a never-ending stream of powerful technologies that make life better. 3M is the innovation company that never stops inventing. With $30 billion in sales, 3M employs 90,000 people worldwide and has operations in more than 70 countries. In the Nordic Region 3M has offices in Sollentuna (headquarter), Copenhagen, Helsinki and Oslo, employs 1100 people and EUR 340M in sales. In Sweden, we have R&D and manufacturing in Gagnef, Värnamo and Västervik. For more information, visit www.3M.com
Om PowerCell
PowerCell Sweden AB (publ) är Nordens ledande bränslecellsbolag, som utvecklar och producerar miljövänliga elkraftsystem för stationära och mobila kundapplikationer.