Press Release

myFC Holding AB (publ) year-end report January – December 2021

Full year January – December 2021

  • Net sales amounted to SEK 1.5 million (0)

  • Operating loss amounted to SEK -31.7 million (-48)

  • Earnings per share amounted to SEK -0.18 (-0.31)

Quarter October – December 2021

  • Net sales amounted to SEK 0.4 million (0)

  • Operating loss amounted to SEK -4.2 million (-12)

  • Earnings per share amounted to SEK -0.04 (-0.08)

Significant events October – December

  • myFC receives order for Proof-of-Concept project for automated warehouse robot from Porsche

  • myFC secures funding for the execution of their two proof-of-concept projects

  • myFC signs a collaboration agreement with Nilsson Energy – a supplier of system solutions for hydrogen

  • Innovation from myFC approved by the European Patent Office – electrochemically operated valves optimize fuel cells

  • myFC's technology is being tested in RISE-project – focus on drivelines for smaller electric vehicles

Significant events after the end of the period

  • myFC carries out a targeted new share issue and issues warrants

  • myFC aims for the North American market – with financial support from the Swedish Energy Agency

  • Chairman of the Board Ulf Henning resigns re-election to the Board of myFC holding AB (publ)

Comment from CEO Michael Glantz: 

“During the year, we continued to work intensively to create new business opportunities with targeted marketing efforts in Europe and Asia. This work has helped the market to understand how our patented technology is well suited for applications in our main segments Soft Mobility and Intralogistics.

Sales of two development projects took place during the year: one in Soft Mobility for a Japanese manufacturer of bicycle systems, and one in Intralogistics for Porsche's logistics centre in Leipzig. These development projects are entry-level deals in the segments, each with a potential multi-billion market for fuel cells in the power range where myFC's offering is strongest. This type of entry-level projects is proof that our technology is commercially viable and has also opened for further business projects.

We see a growing interest in hydrogen solutions in the society, where Europe is taking the lead globally. The supply of hydrogen has matured within the EU, and it is a priority issue for politicians, authorities, and the industry. Industrial companies already see that an investment in fuel cell systems has a better total Return on Investment (ROI) compared to current solutions.

Given all the focus that the fuel cell and hydrogen industry is getting right now, as a sustainable technology for energy conversion and energy storage, we can state that the winds are blowing in our direction and that the company is in a very good position.”

This disclosure contains information that myFC is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 25-02-2022 08:00 CET.