Swedish myFC’s new fuel concept challenges Lithium ion batteries

The fuel cell manufacturer myFC has previously announced its promising test
results for the new fuel concept for its portable fuel cell charger. Now myFC is
announcing that the new fuel concept has a chemical energy density of 2 – 3
times higher than that of a lithium ion battery. This means that the size of the
fuel cartridge and charger can be significantly reduced compared to previous
models, seriously challenging the market’s best-selling portable chargers for
mobile phones.
The potential global market for portable rechargeable batteries is huge and is
expected to grow by 17.5% per year, reaching 81 million SEK (10.94 million USD)
by 2020*. Lithium ion batteries have dominated the market mainly due to their
low price and weight, but myFC’s fuel cell charger may change all of that.

Fuel cells use environmentally friendly technology generating their own
electricity, which means that when the user’s battery is inconveniently empty,
they can always charge their mobile device, without the need to be connected to
the grid or to have sunlight. The difference with portable batteries is that the
user is not reliant on charging the device. The development of fuel cells is
progressing rapidly but large scale commercialization of portable charging
devices has been hampered by high manufacturing costs and relatively high
weight. myFCs results show that this can be changed radically.

The industrialisation of the new fuel concept is in progress and myFC reckons
that the higher energy density of the new fuel concept comes with considerable
reduction in size and weight of the fuel and charger. The company’s goal is to
apply the fuel in a credit card-like form. The new technology will be able to
lower the current price per charge, laying the foundation for a very prompt
market expansion.

”We understood early on that we had made an exciting discovery. The test results
show that we have a solution that is three times better than lithium ion
batteries and with this we have a technology that can create a true shift in the
technological landscape as well as user practices. We reckon that we can
considerably minimize the size, weight and cost of the fuel, and with that, we
can seriously compete with portable lithium ion batteries,” declares Björn
Westerholm, myFC CEO.

For further information, please contact:

Björn Westerholm, CEO
E-mail: bjorn.westerholm@myfc.se
Telephone: +46 (0) 706 56 20 07

Images are available at: http://www.powertrekk.com/pages/press

*Research and Markets; Portable Battery Pack Market by Capacity Range, Product
Type & Geography – Global Forecast to 2014-2020.
About myFC
myFC is a Swedish innovation company that develops energy solutions using fuel
cell technology. The company’s first product, the myFC PowerTrekk, is a hybrid
charger for small electrical devices that runs on water. myFC was founded in
2005, has its head office in Stockholm and was listed on the NASDAQ OMX First
North in May 2014. The company’s Certified Advisor is Remium Nordic AB. To find
out more, please visit www.myfc.se