#Sweden #Hydrogen Production #Uppsala #Metacon #Electrolyser Projects

Metacon's Interim Report for Q3 2026

Metacon AB recently published its interim report for the third quarter of 2026, showcasing significant advancements and ongoing challenges related to its electrolyser projects. As the company continues to focus on innovation in hydrogen production, it has introduced new, cost-effective system solutions that have garnered positive feedback from the market.

In the third quarter, Metacon reported net revenue of SEK 34.5 million, a decrease from SEK 40.9 million in the same period last year. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) showed a loss of SEK -25.2 million compared to a loss of SEK -15.5 million the previous year. Additionally, the operating profit (EBIT) amounted to SEK -29.5 million, reflecting difficulties in managing project costs.

The report highlights that project expenses for one of Metacon’s largest initiatives significantly exceeded initial estimates due to an intensifying timeframe dictated by customer funding deadlines, leading to unforeseen costs. According to CEO Christer Wikner, such challenges were anticipated, especially for projects of this magnitude being undertaken for the first time in Europe.

Throughout the quarter, Metacon achieved notable milestones, including:

• - On July 2, the company announced grant support from Klimatklivet for up to SEK 111 million for a new electrolysis plant in Uppsala.
• - On July 22, Metacon initiated a directed issue of more than 54 million warrants to Fenja Capital, a move aimed at enhancing financial flexibility.
• - Following the resignation of CFO Mattias Jansson on August 10, Mattias Brodin stepped in as interim CFO, beginning September 15.
• - The company also reported plans to cut fixed costs by approximately 35% starting January 2027.
• - On September 10, in collaboration with PERIC, Metacon launched cutting-edge pressurized alkaline electrolyzer stacks.
• - In late September, the company introduced a compact 20 MW electrolysis module, designed for efficiency in both cost and space allocation.
• - Throughout October, Metacon secured multiple EU funding awards for various hydrogen initiatives, including approximately 104,000 EUR for AMEL in AEM electrolysis and over 188,000 EUR for the PUREHY2+ project.

Despite the financial challenges reported, Metacon's commitment to developing and supplying hydrogen production systems remains strong. The innovations in electrolyser technology and collaborative ventures highlight the company's agility in adapting to market demands and financial pressures. With ongoing projects expected to deliver enhanced hydrogen production capabilities, Metacon aims to strengthen its position within the burgeoning hydrogen economy.

For a comprehensive overview, including detailed financial reports, the company encourages interested parties to refer to the complete interim report. More information about Metacon can be found on its official website, detailing its full range of offerings and continued efforts in hydrogen technology development.

About Metacon

Metacon AB is a Swedish enterprise specialized in the development, manufacture, and supply of systems for hydrogen production, including comprehensive design, installation, and maintenance services. Listed on the Nasdaq First North Growth Market in Stockholm, the company collaborates closely with PERIC Hydrogen Technologies, located in Handan, China, a leader in pressurized alkaline electrolysis technologies. Metacon is also pioneering catalytic reactor technology through its HIWAR® systems, applicable in producing hydrogen from renewable sources, broadening the horizons for sustainable energy solutions.