Gothenburg, Sweden, October 6, 2014 - The Swedish Energy Agency has granted leading fuel cell technology company PowerCell a loan of ten million SEK. The loan from the Energy Agency is for the development of next generation PowerPac, a fuel cell system that converts diesel fuel into electricity in an efficient and environmentally friendly way.

PowerCell will use the 10 million SEK loan from the Swedish Energy Agency to develop the next generation of the PowerPac, a fuel cell system that converts diesel fuel into electricity in a reliable, competitive and environmentally friendly way.

The mission of "Energy and Innovation" means that the Swedish Energy Agency promotes the transition towards a sustainable energy system, and supports the development of technologies that can be commercialised by the Swedish industry.

Magnus Henell, CEO of PowerCell Sweden said:

"We expect that the interest for the next generation of PowerPac to be huge within the telecommunications and transport sectors globally, as these industries need to significantly reduce their operating costs. PowerPac can help achieve this with a power solution that is clean, durable and compatible with increasingly stringent environmental laws."

PowerPac is a power generator that uses diesel fuel to produce electricity, via a catalytic reformer and fuel cells in a more environmentally friendly and efficient way than traditional alternatives. The PowerPac produces no toxic emissions due to the controlled catalytic process in the reformer. The conversion is also highly efficient making fuel cost low compared to traditional solutions. Since no combustion takes place the noise level is kept to a minimum. The diesel fuel's high energy content makes the PowerPac also suitable for remote power stations.

With the support from the Swedish Energy Agency PowerCell will develop the next generation of PowerPac, with an increased life-span of the stack and the reformer and a reduced production cost. Within the project, a number of prototypes of PowerPac will be produced for field testing before the product is fully developed and ready for sale in Sweden and internationally.

The Swedish Energy Agency operates in various sectors of society to create the conditions for an efficient, sustainable and cost-effective use of energy in Sweden.

Magnus Henell, CEO, PowerCell. Email: magnus.henell@powercell.se