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Government loan converted into grant and generate positive income of SEK 30 million in the second quarter

MAR

In 2009, PowerCell was granted a conditional loan of SEK 30 million by the Governmental Swedish Energy Agency. The Swedish Energy Agency has now decided to convert the loan into a grant. The decision means that PowerCell's interest-bearing loan is reduced by SEK 30 million and the grant is reported as other income in the second quarter. The contribution will be reported as an item affecting comparability.

For further information, please contact:
Richard Berkling
CEO
Phone: +46 31 720 36 20
Email: richard.berkling@powercellgroup.com

Torbjörn Gustafsson
CFO
Phone: +46 701 86 69 86
Email: torbjorn.gustafsson@powercellgroup.com

About PowerCell
PowerCell is a world leader in hydrogen electric solutions with unique fuel cell stacks and systems. With decades of experience, we use our expertise to accelerate the transition to an emission-free, more sustainable world. We target industries such as aviation, marine, off-road, on-road and stationary power generation. With our cutting-edge products we help our customers to reach net zero emissions already today.

We are headquartered in Gothenburg, Sweden with sales globally. PowerCell is listed on Nasdaq Stockholm.

To read more about our products and services, visit powercellgroup.com.

This information is information that PowerCell Sweden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-05-31 11:20 CEST.

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Government loan converted into grant and generate positive income of SEK 30 million in the second quarter

Datum 2024-05-31, kl 11:20
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Government loan converted into grant and generate positive income of SEK 30 million in the second quarter