Hydrogen and fuel cell sector grows - despite increased bankruptcies and tough times due to Covid-19

Covid-19 hits hard on businesses, in the Nordic countries and Sweden this is noticeable by the number of bankruptcies increasing, among many other things. A recent study from Bisnode shows that 10,528 companies went bankrupt in the Nordic region (not including Iceland) during the first half of this year.
In Sweden, there are 3,786 bankruptcies from January to June, which means an increase of 16% compared to last year.
Despite this, heavy investments are made in the hydrogen and fuel cell sector, an industry I’ve written a lot about here on the blog.

Here I present three exciting examples of Swedish companies in the hydrogen and fuel cell sector.

POWERCELL SWEDEN AB

We have long talked about reducing carbon dioxide emissions in shipping. I have written a lot about this on the blog over the years. For some time now, the International Maritime Organization, IMO, has set a goal aimed at reducing carbon dioxide emissions in shipping by 50 percent by 2050.

In this area, the Gothenburg-based fuel cell manufacturer Power Cell received a large number of exciting orders during the year. The company develops and manufactures fuel cell stacks and systems that are powered by clean, or reformed hydrogen and generates electricity and heat without any emissions other than water.

Among other things, PowerCell has signed an agreement with a leading European shipbuilder to develop and deliver a marine fuel cell system with a total power of approximately 3MW. The system will be developed and delivered over three years and the total order amount during the period is SEK 77 million.

SVENSKA CELL IMPACT AB

In 2020, Svenska Cell Impact AB has developed its collaboration with Nakanishi Metal Works (NKC) to test large-scale production of flow plates that can make fuel cells more cost- and energy-efficient.

Cell Impact AB which is a global supplier of advanced flow plates and production technology to manufacturers of fuel cells. The company has developed and patented a unique method for high-speed shaping that makes it possible to manufacture flow plates with more advanced patterns, which in return creates more cost- and energy-efficient fuel cells compared to conventional methods. Fuel cells convert hydrogen and oxygen into electricity and heat. The only residual product is water and therefore fuel cells are an environmentally friendly alternative to both internal combustion engines and batteries.

IMPACT COATING AB

Another exciting company is Impact Coating AB in Linköping. The company develops and delivers technology for industrial PVD coating with a focus on fuel cells. PVD is a method of vacuum-producing thin layers of metals and ceramics, which provides coatings that maximize performance and durability. During the spring, the company received, among other things, an order worth 1,350,000 euros for a coating system for a German customer in precision components.

Less than a month ago, the company received an order from Hyundai Motor Company for a system for coating metal flow plates for fuel cells. The order value is 945,000 EUR.

Thomas