Metacon receives order from Motor Oil for supply of a 30 MW industrial electrolysis plant worth EUR 19.8 million, marking 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.
Christer Wikner, CEO and President, Metacon, said:
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.”,
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Metacon receives order from Motor Oil for supply of a 30 MW industrial electrolysis plant worth EUR 19.8 million, marking the start of European manufacturing. source
