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Redeye is encouraged by recent news from Powercell and a solid Q1 report. Continued sales growth in the first quarter and improving gross margins. Powercell has a good business momentum and we anticipate further progress going forward. The collaboration with Hitachi ABB Power Grids is particularly promising as it implies a huge potential if it plays out well. We are not making any significant changes to our forecasts or valuation at this point, but we are more confident that Powercell is on the right track.
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