Fouriertransform`s investment will be made by a directed share issue, i.e. money is injected directly into the company in exchange for new shares. Through Volvo Technology Transfer, AB Volvo will remain as the largest owner of Powercell Sweden AB, with more than 40 % of the shares. The other owners are OCAS, Midroc New Technology and Fouriertransform.

As recently as the beginning of July, the major companies Midroc and OCAS, along with the Swedish Energy Agency and Volvo Technology Transfer, made a joint investment of SEK 200 M in Powercell Sweden AB in Göteborg. An investment which will generate 100 new jobs in Göteborg over the next three years.

A fuel cell can be compared with a small battery that operates on hydrogen gas. During a chemical reaction, the hydrogen gas is converted to electricity with no other waste but water. To resolve the issue of hydrogen gas accessibility, Powercell will initially produce hydrogen gas from such existing fuels as biofuel and gasoline or diesel. Compared with normal diesel or gasoline-operated electrical aggregates, Powercell`s product will generate considerably less carbon dioxide emissions, and no emissions whatsoever of particles, carbon monoxide and nitrogen oxides. The fuel cells are also more efficient, smaller and more silent.

Powercell Sweden`s product has been developed by Volvo Technology for more than 15 years and is based on two patented components: a fuel converter and a PEM fuel cell - the type of fuel cell most often used in transport applications. The fuel converter produces hydrogen gas from bio fuels such as ethanol, DME, biogas, methanol and biodiesel, but also from regular diesel or gasoline.