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Press Release

myFC Holding AB (publ) year-end report January – December 2019

Full year January – December 2019

  • Net sales amounted to KSEK 0 (577)
  • Operating loss amounted to SEK -165 million (-91).
  • Earnings per share amounted to SEK -1.76 (-1,63)

Quarter October – December 2019

  • Net sales amounted to KSEK 0 (110)
  • Operating loss amounted to SEK -17 million (-35).
  • Earnings per share amounted to SEK -0.15 (-0,51)

Significant events October – December

  • The Board of Directors of myFC proposes a targeted new share issue
  • Helvetican International nominates two members to the Board of myFC
  • myFC executes decisions on directed new share issue and lockup
  • myFC appoints new chairman of the board
  • myFC to showcase fuel cell battery hybrid concept for the automotive sector in June 2020

Significant events after the end period

  • myFC partners with Jotech/Ecar Sweden to realize hybrid vehicle concept
  • myFC appoints Per Zetterberg as Head of Sales

Comment from CEO Peter Friedrichsen:

“2019 was a year of change at myFC. The directed new share issue announced in February failed to deliver the required funds. A strategic review followed, and after careful investigations of sustainable ways forward, a new strategic direction was formulated and necessary changes were implemented across our organization.

Our focus now is to prove our technology and accelerate our commercial discussions. In December we proudly announced the development of a complete proof of concept: a fully functional demonstration of our technology in a commercial car model, to be showcased to stakeholders and the public in the middle of 2020. After the end of the period we announced our selected partner, Jotech/Ecar Sweden.

It is exciting to be at the forefront of cutting-edge, green energy supply technology and working toward a zero-emission vision. I am pleased to say we have entered into 2020 on firm footing, with a more manageable cost base and with a reaffirmed, sustainable commitment to the automotive industry and e-mobility. With the financial and strategic support provided by our new owners, I believe we have every possibility to realize our strategy.”

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 below, at 08:00 CET on 21 February 2020.

For further information, please contact:
myFC Press Office
Email:  press@myfc.se
Phone: +46 (0) 738 09 33 83

Certified Adviser
Avanza Bank
Mail: corp@avanza.se
Phone: +46 (8) 409 421 20

About myFC
Swedish innovation company myFC offers thin, scalable fuel cells that are easy to dimension and adapt to any electric application. myFC develops hybrid technology solutions combining batteries and hydrogen-based micro fuel cells for extended usage and reduced carbon footprint. The company was founded in 2005 and was listed on NASDAQ First North Growth Market in 2014. Its headquarters are in Stockholm. For more information, visit myFC.se