29 August 2019 16:16

Cell Impact AB (publ) and the Japanese industrial group Nakanishi Metal Works Co. Ltd. (NKC) deepens its cooperation by signing a Memorandum of Understanding (MoU) on international business development.

The agreement is made in light of the increasing global investments in fuel cell technology where Cell Impact's manufacturing process enables cost-effective production of flow plates in large volumes. The companies will undertake joint activities aimed at identifying international business opportunities where a partnership between Cell Impact and NKC can offer increased benefits to the customer.

- "Hydrogen-based fuel cell technology is gaining momentum both in Japan and globally, and if we are to have a chance to curb the climate threat, we need to act both proactively and vigorously. We see Cell Impact's production method for flow plates as an exciting opportunity for the automotive industry to both be able to lower costs and increase production volumes of fuel cells," says Mr. Shigeru Nakagawa, Executive Officer, New Business Division, NKC.

- "The fact that major Japanese subcontractors to the automotive industry both want to invest and deepen their cooperation with us is a strong indication that we are on the right track," says Mr. Pär Teike, CEO at Cell Impact. "We have come to know NKC as a good partner in an ongoing project. In the long run, we see the opportunity, with NKC's broad industrial know-how, and deep relationships in the automotive industry, to intensify our sales activities in relation to the international vehicle manufacturers who are now investing billions in developing vehicles based on hydrogen technology."

As previously announced, Cell Impact issues new shares in a directed stock issue valued at approximately SEK 5 million in connection with the signing of the Memorandum of Understanding.

For more information, please contact:

Mr. Pär Teike, CEO, +46 73-024 06 84 eller paer.teike@cellimpact.com. 

About Cell Impact

Cell Impact AB (publ) is a global supplier of advanced flow plates to fuel cell manufacturers. The company has developed and patented a unique method of adiabatic high-speed velocity pressing that enables flow plates with more advanced designs, which in turn creates more cost- and energy-efficient fuel cells when compared to conventional pressing methods.

The Cell Impact share is listed on the Nasdaq First North stock exchange and Erik Penser Bank is the company's Certified Advisor (CA). Contact info: +46 8-463 83 00 or certifiedadviser@penser.se. 

About NKC

NKC was founded in 1924 and is a world leader in bearing retainer manufacturing, industrial conveyor solutions, and pressed steel components, as well as plastic and rubber processing. Annual revenue is around 1 billion dollars and NKC employs approximately 4,000 people. In addition to Japan, NKC has manufacturing facilities in Europe, America, and Asia.

This information is information that Cell Impact 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 person set out above, at 14.15 CET on August 29th, 2019.