Impact Coatings AB (publ) and Shangdong Boyuan New Energy Technology Development Co. Ltd. have jointly signed a non-binding Letter of Intent. According to the Letter of Intent, Boyuan has selected Impact Coatings as a strategic supplier of PVD Coating Equipment for the production of fuel cell bipolar and monopolar plates at Boyuan?s production sites in China, Mexico and other regions.

Boyuan has the long-term intention to invest in coating equipment from Impact Coatings for all of its production sites, starting with the site in China. Impact Coatings expresses in the Letter of Intent its commitment to further develop coating materials, machines, and processes to meet the future market requirements of cost-efficient coatings for metal plates for fuel cells.