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Metacon’s Associated Company Water2H2 Signs Agreement for the Sale of Electrolysis Plant

By September 24, 2021 3   min read  (491 words)

September 24, 2021 |

Fuel Cells Works, Metacon's Associated Company Water2H2 Signs Agreement for the Sale of Electrolysis Plant

Metacon’s associated company Water2H2 AB has entered into a binding agreement for the sale of an electrolysis plant to Uppvidinge Vätgas AB for the production of green hydrogen from existing wind power.

The total contract value is approximately SEK 21.5 million and the transaction also includes equipment for storage, transport and a refuelling station for both passenger cars and trucks.

The transaction is made in collaboration with the subcontractors Peric Technologies Ltd, which manufactures the electrolysis plant and Swedish GISAB, which performs installation and commissioning. Peric is the world’s largest and most proven manufacturer of various types of electrolysis plants with a dominant position on the market in China and with installations made worldwide. GISAB (Gällivare Industriservice AB), which is part of Axel Johnson International, operates on several continents and has, among other things, been responsible for installing the electrolysis plant at the HYBRIT green steel pilot plant in Luleå.

Metacon is one of the founders of Water2H2 AB together with management and currently owns 20% of the shares in the company. Metacon has an option to acquire the remaining 80% of the company from the other owners.

“The contract with Uppvidinge Vätgas marks a breakthrough for Water2H2 and Metacon in the electrolysis field and confirms that this investment is right and with concrete potential to develop into a large future business area alongside catalytic steam reforming,” commented Christer Wikner, President and CEO, Metacon.

Johan Berggren, CEO of Water2H2 added: “We are incredibly pleased to be able to deliver this green hydrogen plant to Uppvidinge. It is a very fine example of wind-to-hydrogen, an area that we can see is growing a lot right now”.

Jan Blad, CEO of Uppvidinge Vätgas AB said in a comment: “We are pleased and impressed by the fast response and support we have received in the process so far from Water2H2. We are looking forward to being able to produce our own green hydrogen as early as the summer of next year for our investments in light and heavy hydrogen vehicles”.

About Metacon AB (publ)

Metacon AB (publ) develops and manufactures energy systems for the production of hydrogen, heat and electricity. The products are based on a patented technology that, through so called catalytic steam reforming of biogas or other hydrocarbons, generates hydrogen. The development of Metacon’s reforming products is done within the wholly owned subsidiary Helbio, which is a spin-off from the University of Patra, Greece and was founded by Professor Xenophon Verykios in 2001. From the onset, the business has focused on catalysts and advanced reforming for high-efficiency hydrogen production. Hydrogen can be used in the transportation, industrial and real estate sectors with better environment and climate as a result.

Through the associated company Water2H2, the market is offered solutions and plants for the production of hydrogen through so-called electrolysis, a large and globally growing area for small and large-scale production of green hydrogen.

 

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