OverviewSuggest Edit

PowerCell is a company that develops and produces fuel cells and fuel cell systems with high-power density for the automotive, marine, and stationary segments. Its fuel cell stacks and systems, powered by hydrogen produce electricity and heat with no emissions other than water.

TypePublic
Founded2008
HQGöteborg, SE
Websitepowercell.se

Latest Updates

Employees (est.) (Jul 2021)59
Revenue (FY, 2019)KR66.9 M(+11%)
Share Price (Sept 2021)KR178.4
Cybersecurity ratingCMore

Key People/Management at Powercell

Karin Nilsson

Karin Nilsson

CFO, Vice President
Richard Berkling

Richard Berkling

CEO
Per Ekdunge

Per Ekdunge

Founder and CEO PowerCell Germany GmbH, Vice President
Thomas Tingelof

Thomas Tingelof

CTO
Andreas Boden

Andreas Boden

Director Sales & Marketing
Karl Samuelsson

Karl Samuelsson

COO, Director Product Development
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Powercell Office Locations

Powercell has offices in Göteborg, Shanghai, Frankfurt am Main and Pretoria
Göteborg, SE (HQ)
Ruskvädersgatan 12
Shanghai, CN
989 Changle Rd, Xuhui Qu
Frankfurt am Main, DE
Mainzer Landstraße 49
Pretoria, ZA
Building 3, Summit Place, 221 Garsfontein Rd, Menlyn
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Powercell Financials and Metrics

Powercell Revenue

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Powercell's revenue was reported to be kr66.85 m in FY, 2019 which is a 10.5% increase from the previous period.
SEK

Revenue (Q2, 2020)

22.1m

Gross profit (Q2, 2020)

4.5m

Gross profit margin (Q2, 2020), %

20.3%

Net income (Q2, 2020)

(50.3m)

EBIT (Q2, 2020)

(28.3m)

Market capitalization (14-Sept-2021)

9.3b

Closing stock price (14-Sept-2021)

178.4

Cash (30-Jun-2020)

403.5m
Powercell's current market capitalization is kr9.3 b.
Annual
SEKFY, 2017FY, 2018FY, 2019

Revenue

36.7m60.5m66.9m

Revenue growth, %

65%10%

Cost of goods sold

25.7m37.2m46.3m

Gross profit

11.0m23.3m20.5m
Quarterly
SEKQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Revenue

7.8m13.5m11.1m9.2m15.6m15.1m26.7m22.1m

Cost of goods sold

6.1m10.1m6.1m6.6m9.8m3.5m18.9m17.6m

Gross profit

1.7m3.5m5.0m2.6m5.7m11.6m7.9m4.5m

Gross profit Margin, %

22%26%45%29%37%77%29%20%
Annual
SEKFY, 2017FY, 2018FY, 2019

Cash

218.1m98.3m440.9m

Accounts Receivable

13.6m18.6m104.6m

Prepaid Expenses

8.9m10.3m12.2m

Inventories

6.4m32.7m43.3m
Quarterly
SEKQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Cash

87.0m505.1m485.1m432.0m403.5m

Inventories

38.8m42.2m49.7m51.5m47.5m

Current Assets

165.7m667.6m652.3m623.2m581.8m

PP&E

22.9m21.2m23.4m
Annual
SEKFY, 2017FY, 2018FY, 2019

Net Income

(64.9m)(61.9m)438.0m

Inventories

(3.0m)(26.3m)(10.6m)

Accounts Payable

10.0m(1.6m)(1.9m)

Cash From Operating Activities

(50.4m)(100.0m)369.1m
Quarterly
SEKFY, 2017

Revenue/Employee

1.1m

Debt/Equity

0.2 x

Debt/Assets

0.2 x

Financial Leverage

1.5 x
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Powercell Operating Metrics

FY, 2017FY, 2018FY, 2019Aug, 2020

Patents Issued

24

Product Lines

8756
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Powercell Acquisitions / Subsidiaries

Company NameDateDeal Size
Powercell China LTD
Powercell Deutschland GmbH
Powercell Warrants One AB

Powercell Revenue Breakdown

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Powercell revenue breakdown by business segment: 91.5% from Hardware and 8.5% from Services

Powercell revenue breakdown by geographic segment: 9.7% from Sweden, 30.1% from Germany, 26.7% from China, 18.0% from US and 15.5% from Other

Human Capital Metrics

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Powercell Cybersecurity Score

Cybersecurity ratingPremium dataset

C

76/100

SecurityScorecard logo

Powercell Online and Social Media Presence

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Powercell News and Updates

Global Fuel Cell Stacks Market Key Trends, Strategic Indicators, Drivers, SWOT, Key Participants and Global Industry Overview and Key Players- Powercell Sweden,, Nedstack Ballard Power

Decisive Markets Insights publishes report on Global Fuel Cell Stacks Market. According to business analysts, the market is anticipated to increase its value and volume over the forecast period 2020 – 2025 Posted via Industry Today. Follow us on Twitter @IndustryToday

Higher sales but lower profiability due to currency effects and increased costs

PowerCell Sweden AB increased its sales during the second quarter 2020 with 42 percent, from MSEK 15.5 to 22 due to continued large sales to Bosch and the order for a megawatt system we received from a leading European shipbuilder during the quarter. Operating income before items affecting comparabi…

PowerCell participates in EU project which will develop and operate a refuse truck with fuel cells in Gothenburg

PowerCell Sweden AB will participate in an EU project that will develop and operate a refuse truck with fuel cells for Renova AB, western Sweden’s leading environmental enterprise within recycling and waste management. Renova’s end customer, the City of Gothenburg, wants to increase testing of fuel…

Richard Berkling appointed new CEO of PowerCell Sweden AB

The Board of Directors of PowerCell Sweden has appointed Richard Berkling as new CEO of PowerCell Sweden AB. Richard Berkling, who is today CEO of CPAC Systems, will assume the position at the latest by year-end, and will replace Powercell’s current CEO Per Wassén. Per Wassén will assist Richard Ber…

PowerCell receives order for PowerCell S3 from Bosch at a total value of MSEK 26

PowerCell Sweden AB has received an order for PowerCell S3 fuel cell stacks from Bosch at a total value of approximately MSEK 26 (2,470,100 Euro). The order will be delivered continuously during 2020. The order comprises several PowerCell S3 fuel cell stacks to be delivered to Bosch within the frame…

PowerCell signs MoU with ABB Power Grids regarding stationary fuel cell power solutions

PowerCell Sweden AB has signed a memorandum of understanding with ABB Power Grids regarding a collaboration around fuel cell based zero emissions stationary power solutions. The aim of the cooperation is to leverage the companies’ existing technologies to jointly develop a complete solution for the …
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Powercell Frequently Asked Questions

  • When was Powercell founded?

    Powercell was founded in 2008.

  • Who are Powercell key executives?

    Powercell's key executives are Karin Nilsson, Richard Berkling and Per Ekdunge.

  • How many employees does Powercell have?

    Powercell has 59 employees.

  • What is Powercell revenue?

    Latest Powercell annual revenue is kr66.9 m.

  • What is Powercell revenue per employee?

    Latest Powercell revenue per employee is kr1.1 m.

  • Who are Powercell competitors?

    Competitors of Powercell include HYON, IRD Fuel Cells and Proton Motor Power Systems.

  • Where is Powercell headquarters?

    Powercell headquarters is located at Ruskvädersgatan 12, Göteborg.

  • Where are Powercell offices?

    Powercell has offices in Göteborg, Shanghai, Frankfurt am Main and Pretoria.

  • How many offices does Powercell have?

    Powercell has 4 offices.