myFC is the world’s leading manufacturer of micro fuel cells and chargers for portable consumer electronic devices such as smartphones and tablets.
Our vision is to make green electricity available to everyone. We use hydrogen, the only form of energy that does not produce carbon dioxide when burnt. This is an increasingly important competitive edge, regardless what the energy is to be used for. What sets us apart from our competitors is the combination of our unique fuel cell, which we have developed ourselves, and our highly efficient fuel, likewise developed in-house. The whole of our technology system, both the fuel cell and the fuel, is patented. To date, we have applied for and been granted around eighty patents.
myFC was established in 2005 as a spin-off from the fuel cell research at the KTH Royal Institute of Technology. We have 14 employees and our head office is in Stockholm. In 2016, we opened our first office outside Sweden, myFC Asia, in Hong Kong. We have been listed on Nasdaq First North since May 2014.
We are a technology company. We address what we call the Power Gap, that is the disparity between the need for energy and the supply of energy. In the car industry, we call this range. Smartphones and tablets are becoming ever more powerful, the apps we use are becoming ever more energyhungry, while the capacity of batteries has barely improved at all over the past decade. We are all familiar with the consequences: depleted smartphones and tablets that have to be charged several times a day. The need for alternative ways of charging is therefore increasing.
Our technology system produces energy without needing a power outlet and therefore eliminates the limitations of lithium-ion batteries. The fuel in our product creates energy using water, salt and reaction components; with heat, electrons and water as the only residual products. Our fuel cell has a very high power density in comparison with that achieved by our competitors. This power density means that we need to use less material than our competitors to achieve the same power level. As a result, we have succeeded in developing the world’s thinnest fuel cell, LAMINA™.
myFC develops world-leading green energy technology. Our revenues are generated through the development, sale and distribution of our own products in the advanced charging devices segment; through recurring sales of our patented fuel; and, in the foreseeable future, by licensing our patented technology for integrated fuel cells. We have developed and patented both our fuel cell and our fuel technology and control the most essential parts of the JAQ product. Our staff work primarily on research and development of products and materials, and with administration and development of IP.