Metacon Secures EUR 2.6 Million Payment for Hydrogen Plant Milestone

Metacon AB, a prominent player in the energy sector, has officially announced the receipt of a substantial payment of EUR 2.6 million (equivalent to around SEK 27.7 million) from Motor Oil Hellas. This payment is linked to a significant milestone in their ambitious project concerning the delivery of a 50 MW electrolysis plant located in Corinth, Greece.

The partnership between Metacon and Motor Oil Hellas represents one of Southern Europe's most notable investments in the burgeoning sector of industrial, electrolysis-produced hydrogen. The contract for this major project was initially signed in the fall of 2024, followed by an agreement for an additional order in the spring of 2025. This illustrates the commitment from both parties towards the advancement of green energy solutions.

To date, Metacon has successfully delivered a total of ten 5 MW electrolyzer stacks, which form the backbone of this electrolysis plant. Recent updates indicate that the majority of critical power electronics components have also been completed and delivered, following extensive Factory Acceptance Testing (FAT) executed by the customer. The latest payment pertains specifically to a significant portion of the transformers and rectifiers that are now ready for deployment. Furthermore, the remaining units are scheduled to be delivered in March, underlining the collaborative efforts to stay on track with the project timeline.

Looking ahead, the final assembly and manufacturing of essential subsystems within the electrolysis plant will commence soon in Metacon's factory situated in Patras, Greece. The company has expressed optimism concerning the progress of remaining work and equipment delivery, which is advancing as per the established plan.

Metacon AB (publ) specializes in the development and manufacturing of energy systems focused on producing fossil-free