Metacon announces customer payment of EUR 2.6 million
STOCKHOLM, Feb. 27, 2026 /PRNewswire/ — Metacon has received a payment of EUR 2.6 million (corresponding to approximately SEK 27.7 million at today’s exchange rate) from Motor Oil Hellas regarding a completed milestone in the project for the delivery of a 50 MW electrolysis plant.
The payment relates to the project with Motor Oil Hellas in Corinth, Greece, where pressurized alkaline electrolyzers, together with certain auxiliary equipment, are to be delivered as part of one of Southern Europe’s largest investments to date in industrial, electrolysis-produced hydrogen. Metacon signed the contract for the project in the autumn of 2024 and an agreement for an additional order in the spring of 2025. After the ten 5 MW electrolyzer stacks were previously delivered, the majority of the plant’s power electronics components have now been completed and delivered following approved tests (so-called FAT – Factory Acceptance Test) by the customer. The payment refers to the majority of the transformers and rectifiers now being delivered. The remaining units will be delivered in March.
Work on the final assembly and manufacturing of key subsystems at Metacon’s factory in Patras, Greece, will commence shortly, and the delivery of remaining work and equipment for the project is progressing according to plan.
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Metacon announces customer payment of EUR 2.6 million, source
