PowerCell Wins Swedish Venture Capital Association Award

Nordic fuel cell technology company PowerCell has been given the Swedish Venture Capital Association award for the most socially beneficial investment 2014.

PowerCell Sweden AB has been given the Swedish Venture Capital Association (SVCA) award for the most socially beneficial investment 2014 at the Private Equity 2014 venue in Stockholm April 8. The Swedish Private Equity & Venture Capital Association (SVCA) is the industry association for the private equity industry in Sweden. Private equity & venture capital are active forms of ownership and act as catalysts for growth in the Swedish economy. The objective of the Association, founded in 1985, is to promote an efficient private equity market in Sweden.

The SVCA awards pay attention to colleagues who have made exceptional achievements in Private Equity in Sweden. SVCA Awards are given in the following categories: This year's exit, This year's fund raising, Hall of Fame and finally SVCA Award, this year's most socially beneficial investment. “We are thrilled and very proud to have been chosen as this years most socially beneficial investment 2014 in Sweden” said Magnus Henell, CEO, PowerCell Sweden AB. “This is a true recognition for our hard work in developing environmentally friendly technologies. There is a huge demand for our advanced fuel cell systems within the transport industry, the telecommunication industry and the stationary power generating sector worldwide.”

Magnus Henell continued, “We expect the interest from the transport, telecom and other sectors to grow even further in the near future, given these industries’ need to reduce operating expenses while at the same time find power solutions that are clean, sustainable and compliant with ever-stricter environmental legislation.”