PowerCell Sweden AB (publ) has signed an agreement with Bumhan Industries Co., Ltd., making Bumhan the new distributor and Service provider for PowerCell on the South Korean market. Bumhan Industries will also start integrating PowerCells fuel cell stacks in to their current product offering within heat and power generation.
Besides being distributor and service provider on the South Korean market, Bumhan Industries Co., Ltd., will integrate fuel cell stacks from PowerCell into their products for combined heat and power generation, CHP, for building applications. Bumhan Industries was established in 1990 and is a specialist in manufacturing high pressure compressors for ships and power generation.
Hydrogen and fuel cell based technologies are developing fast in South Korea as means for decreasing the dependency of fossil fuels and to move to more sustainable energy sources.
“The agreement with Bumhan Industries will provide great opportunities for us to expand on this very interesting and growing market”, Andreas Bodén Sales Director of PowerCell said.
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 Stockholm withG&W Fondkommission as Certified Adviser.