Metacon receives order for supply of a 30 MW industrial electrolysis plant worth EUR 19.8 million (approx. SEK 226 million) and marks the start of European manufacturing

Metacon AB (publ) has been awarded a contract for the supply of a 30 MW pressurised alkaline electrolysis plant for hydrogen production to Motor Oil (Hellas) Corinth Refineries S.A., Greece ("Motor Oil"). The contract value is EUR 19.8 million, equivalent to approx. SEK 226 million with today's exchange rate. The order also includes adaptations to be able to expand the plant by an additional 20 MW in a second stage. Metacon's manufacturing partner PERIC delivers electrolysis stacks and certain other components according to Metacon's specifications and assembly of the plant takes place in Metacon's factory in Patras, Greece. The order also marks the start of Metacon's previously announced technology collaboration with Siemens on both the design of the next generation of industrial electrolysers and the implementation of leading technology in Metacon's European manufacturing.

Over the past year, Metacon has intensified its efforts to build a competitive offering in large-scale electrolysers for the industrial hydrogen market. As previously announced, this also includes the establishment of European manufacturing under its own brand. The underlying driving force behind the investment is the opportunity to be able to create leading and proven production systems at a competitive price within the framework of the close collaboration with our Chinese manufacturing partner PERIC, a partnership that has been established over several years. The contract with Motor Oil also marks the start of the implementation of Metacon's industrial strategy both in terms of sales and the gradual build-up of its own manufacturing in Europe.

The Motor Oil Group's refinery, located in Ag. Theodoroi in Corinth, is the largest private industrial complex in Greece and is considered one of the most modern refineries in Europe. The electrolysis plant will be assembled in Metacon's factory in Patras, Greece and Motor Oil will be responsible for on-site installation in Corinth, under the guidance and supervision of Metacon and PERIC.

”I am very pleased to be able to announce this contract, which is an important step in our investment in enabling hydrogen production solutions for the industrial segment and our own manufacturing of large-scale electrolysers in Europe.  I am proud that we have reached this milestone where large and highly demanding industrial customers such as Motor Oil choose Metacon in competition with other European and Asian suppliers.”, commented Christer Wikner, CEO and President, Metacon.

For further information, contact Christer Wikner, by phone 0707-647389 or e-mail [email protected].

This information is information that Metacon AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 14:00 CEST on 8 Aug 2024.

About Metacon

Metacon AB (publ) develops and manufactures energy systems for the production of fossil-free "green" hydrogen. The products in the Reforming business area are based on a patented technology that generates hydrogen through so-called catalytic steam reforming of biogas or other substances. The development of Metacon's reforming products is carried out within the wholly-owned subsidiary Metacon S.A in Patras, Greece. The business is focused on catalytic process chemistry and advanced reformers for high-efficiency hydrogen production. 

Metacon also offers complete electrolysis plants and integrated refuelling stations for green hydrogen, a large and globally growing area for production of green hydrogen. Electrolysis is a process in which a chemical reaction is driven to split water into hydrogen and oxygen by adding electricity. If the electricity used is fossil-free, hydrogen will also be fossil-free and climate-neutral. Green hydrogen can be used in the transport sector, basic industry and the real estate sector, among others, and lead to a better environment, climate and increased self-sufficiency in energy and vehicle fuel as a result. www.metacon.com

About Motor Oil (Hellas)
Motor Oil Group is a leader in the energy sector – in Greece and in the wider Eastern Mediterranean region. It supports the economy with exports to over 75 countries, thousands of employees, and continuous new investments. Motor Oil Group has 92 individual companies and directly employs 3,000 permanent workers. More than 1,500 gas stations operate with the emblems of Motor Oil’s subsidiary companies, in Greece, as well as in foreign countries. The Group has branches in 8 different countries.

The company plays a leading role in the sectors of crude oil refining and marketing of petroleum products in Greece, as well as the greater eastern Mediterranean region, supplying its customers with a wide range of high-quality products. https://www.moh.gr/

For further information please see:
www.metacon.com | X: @Metaconab | LinkedIn: www.linkedin.com/company/metaconab