PowerCell Sweden AB has signed a Nordic cooperation agreement with Soltech Group regarding a joint development of stationary energy solutions based on the two companies' products within fuel cells and solar energy. In a first collaborative project, the two companies will conduct a feasibility study regarding a stationary power solution that will secure power supply for Amokabel AB in Alstermo, Småland.
The Soltech Group is Sweden's leading supplier of energy solutions based on solar energy and develops and sells complete solutions where solar panels have been integrated into roofs and building facades. The aim of the cooperation agreement is to utilize the two companies' expertise and products to offer stationary energy solutions based on a combination of solar energy and fuel cells. By using excess energy from solar panels to produce hydrogen, solar energy can be stored and converted back to electricity in a fuel cell when needed. For further information see the IDTechEx report on Batteries for Stationary Energy Storage 2019-2029.
The aim of the feasibility study that the two companies will perform for Amokabel, is to examine if solar energy in combination with hydrogen storage can alleviate the company's problem with grid capacity. As Amokabel has grown and increased its production, it has experienced increasing problems with lack of power in the existing grid.
"The increasing need of energy, and sustainable energy in particular, makes the combination of solar energy and fuel cells extremely interesting. We therefore see a great potential for stationary fuel cell power generation based on locally produced and stored hydrogen," Andreas Bodén, Director Sales and Aftermarket, said.
"This cooperation is a breakthrough in helping all businesses and the public sector with the major problems related to insufficient grid capacity. We see great opportunities and are proud and happy that PowerCell has chosen us as their partner," Stefan Ölander, CEO of Soltech said.
For further information, please contact:
Director Sales and Aftermarket, PowerCell Sweden AB (publ)
Phone: +46 (0) 31 720 36 20
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) is since 2014 subject to trade at Nasdaq First North Growth Market, Stockholm. G&W Fondkommission is Certified Adviser, e-mail: email@example.com, phone: +46 8 503 000 50.