#Sweden #Stockholm #Hydrogen Production #Metacon AB #Motor Oil Hellas

Metacon Secures 20 MW Electrolysis Plant Contract with Motor Oil Hellas

Metacon AB, a Swedish company developing clean energy systems, has officially been awarded an add-on contract by Motor Oil (Hellas) Corinth Refineries S.A., based in Greece. This new agreement focuses on constructing a 20 MW pressurized alkaline electrolysis plant aimed at increasing hydrogen production capacity at the Corinth facility.

The total value of the contract is pegged at EUR 10.6 million, approximately SEK 117.8 million, with compensation structured as per an installment payment schedule to be finalized soon. Upon completion, this expansion will elevate the hydrogen production capacity at the Corinth site to a total of 50 MW, cementing its status as one of the largest electrolysis-based hydrogen production plants in Europe.

Significance of the New Plant

The establishment of this facility is part of Metacon's strategic goals to lead the industrial clean hydrogen sector in Europe. The company has ramped up its efforts to devise competitive offerings in large-scale electrolysis plants. This includes forming a robust European manufacturing presence under the Metacon brand. A pivotal part of their strategy lies in collaboration with their partner, PERIC Hydrogen Technologies, based in Handan, China, which has supported Metacon’s growth over the years.

As this contract signifies the implementation phase of Metacon’s industrial strategy, it will not only allow them to push forward in sales but also gradually build their own manufacturing capabilities throughout Europe.

The Motor Oil Group: A Key Player

Motor Oil's refinery, strategically located in Ag. Theodoroi in Corinth, stands out as Greece's largest private industrial complex and is touted as one of the most modern refineries across Europe. Mirroring the stipulations of the previously announced 30 MW contract, the additional 20 MW electrolysis units will partially be assembled in Metacon's factory located in Patras, Greece. Ultimately, Motor Oil will oversee the installation process at their Corinth site, under the expert guidance of Metacon and PERIC.

Christer Wikner, CEO, expressed his enthusiasm, stating, "I am very pleased to announce this significant contract award with the refinery leader, Motor Oil. Metacon and PERIC are altering the landscape of the clean hydrogen market in Europe, enabling extensive, cost-effective hydrogen production solutions tailored for the industrial sector. This contract also aligns perfectly with Metacon’s financial objectives for the year.”

Future Outlook for Metacon and Motor Oil

As the demand for hydrogen fuel ramps up within the global transition to cleaner energy alternatives, the partnership between Metacon and Motor Oil positions both well to capitalize on this rapidly growing market. With committed investments in advanced production systems and the intent to provide substantial hydrogen production capabilities, Metacon is determined to solidify its standing in the industrial energy landscape.

In summary, this recent contract not only demonstrates Metacon’s ongoing commitment to industrial hydrogen technology but also marks a strategic collaboration between two powerful players in the energy sector, potentially shaping the future of clean energy in Europe.

For further updates, stakeholders and interested parties can connect with Christer Wikner at +46 707-647389 or via email at [email protected] for inquiries and more detailed information regarding Metacon’s future projects and expansions.