PowerCell Develops Fuel Cell Stacks For Mobile Application

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  • Sales for PowerCell Sweden AB increased 23% to SEK 55.6m (45.1) in the third quarter of 2022.
  • PowerCell’s first serial production of systems for marine and stationary applications is to start in the fourth quarter of 2022.

Another quarter with continued growth and industry-leading gross margin, reports Cision.

PowerCell

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.

Sales figures 

The sales for PowerCell Sweden AB have heightened by 23% to SEK 55.6m (45.1) in the third quarter of 2022. The industry-leading gross margin enhanced to 35.5% (32.5). This indicates PowerCell’s ability to scale up output while obtaining better efficiency and productivity.

The sales were particularly positively influenced by the marine industry. PowerCell’s first successive production of systems for marine and stationary applications will start in the fourth quarter of 2022.

Views

“With a 12-month rolling gross margin above 35 percent, we see the effects from recent investments into industrialization”, Richard Berkling, CEO of PowerCell Sweden AB said.

“The ability to scale up volumes while achieving improved efficiency and productivity is important when growing in a technology shift. Our recent success and strong development shows that we are in a solid position to take advantage of the megatrends where more and more industries are moving towards zero emissions. This makes me very confident about PowerCell’s growth opportunities and ability to create long-term value”, Richard Berkling concluded.

Financial Highlights

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Source: Cision

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