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Bosch acquires 11.3% stake in PowerCell

Hydrogen fuel cell technology developer PowerCell Sweden AB has disclosed that the German technology major Robert Bosch GmbH (Bosch) has acquired all of Midroc New Technology’s shares in PowerCell Sweden AB. In total 5,848,531 shares, representing 11.3 percent of the votes and capital in PowerCell, has been acquired.

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German technology major Robert Bosch GmbH (Bosch) has acquired all Midroc New Technology’s shares in PowerCell Sweden AB corresponding to 11.3 percent of the votes and capital in the Swedish hydrogen fuel cell technology developer.

Midroc New Technology is a venture capital company within Midroc Europe, an international company group headquartered in Stockholm, Sweden. Midroc New Technology has been an owner in PowerCell since 2008 but has gradually decreased its ownership in the company over the last couple of years.

Earlier this year, PowerCell Sweden and Bosch signed a joint development and licensing agreement regarding the fuel cell stack PowerCell S3 for the automotive segment.

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