Swedish fuel cell company myFC doubles its addressable market with an offer to the automotive industry. Within twelve months, myFC expects to commence commercial tests of a hybrid solution with the potential to solve the range challenge of electric vehicles.
Two technological breakthroughs enable myFC’s initiative: its fuel cell Lamina, delivering more power at reduced volume and cost; and its hybrid solution, combining the best of fuel cell technology and the best of the battery world.
"Our Lamina fuel cell is a breakthrough for fuel cell technology. With Lamina, we can increase effect while reducing both manufacturing cost and volume. In addition, Lamina is optimized for coexistence with batteries. By offering the automotive industry our hybrid solution, we are doubling the potentially addressable market for our fuel cell technology, " says Björn Westerholm, CEO of myFC.
MyFC’s focus is the coexistence of fuel cell technology and batteries, the same as for the smartphone industry. This coexistence makes it possible to relieve the automotive industry of the range barrier – how far an electric car can run between charges. A range extender (REX) based on the Lamina fuel cell and the patented JAQ fuel has the potential to double the mileage.
“Range is arguably the greatest challenge facing the electric car industry. Consumers want super green cars, but with the long range of diesel cars. This previously could not be solved at a low enough cost and with green energy. Our patented hybrid solution with a custom climate solution for the automotive industry makes it possible to get the best from both battery and fuel cell, and to manage power supply in a compact and cost-effective way, Björn Westerholm says.
Through a minor adaptation of the hybrid solution used in myFC’s fuel cell charger JAQ, myFC plans to start developing a prototype. It is scheduled for live tests with commercial car models in 2018. The project will also include a recycling strategy for the JAQ fuel. Talks are ongoing with members of the automotive industry, with the aim to accelerate the adaptation to cars through cooperation agreements.
MyFC’s commitment to the telecom industry remains unchanged, aiming to complete the company's new hybrid platform in the fall of 2017, delivering the JAQ Hybrid charger to the Chinese market under the existing agreement, and continuing discussions about the JAQ system with mobile operators globally.
This information is information that myFC 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 07:55 CET on 15 of May 2017.