PowerCell Sweden has reported “very strong” fourth quarter results reflecting the steady increase in interest of its technology and knowledge.
The developer and producer of fuel cell stacks and systems set a new record nearly doubling its sales compared to the same period last year. Sales increased to SEK 28.1m ($3m) compared to SEK 15.8m ($1.7m) for the same period last year.
Operating income for the period amounted to SEK -11.1m ($-1.2m) compared to SEK -17.4m ($-1.9m) for the same period last year.
Powercell said the development is explained by a steady increase in interest within a growing number of customer segments for fuel cells and hydrogen.
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