PowerCell Sweden

Market Cap 2,046.7M

Operations started as an R&D project within the Volvo Group in 1993. Powercell as a company was founded in 2008. The year after the ownership base was broadened with a rights issue to Midroc New Technologies, Fouriertransform and Finindus of Belgium. In December 2014 Powercell made an IPO and listed its shares on Nasdaq First North. Since year 2016 Powercell has started launching its products in the market. Up until mid 2017 revenues have been somewhat sporadic and comes mainly from sales of prototypes. Deliveries of larger volumes started in Q3 2017 which means more stable revenues going forward. The last couple of years the company has shown a loss of some SEK 60 million due to costs related to product developement. Powercell made a directed rights issue in the spring 2017 and expect current funding to be enough to take them to break-even. Powercell has some 50 employees, primarily within development, construction and design, which is conducted in facilities adjacent to the head office in Gothenburg.

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