Metacon completes the 50 MW hydrogen project contract with Motor Oil Hellas by closing agreement for additional 20 MW capacity

STOCKHOLM, March 24, 2025 /PRNewswire/ -- Metacon AB (publ) communicated 4 March 2025 that we had been appointed as supplier for an additional 20 MW hydrogen production unit for the Motor Oil (Hellas) Corinth Refineries S.A. (Motor Oil) planned 50 MW electrolysis plant in Corinth, Greece. The main contract package has now been finally signed by both parties. Assembly of the plant takes place in Metacon's factory in Patras, Greece and and the majority of this add-on contract will be delivered in combination with the ongoing 30 MW project. When operational, the plant will be one of the biggest electrolysis-based hydrogen production plants in Europe to date.

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. Like the previously announced 30 MW contract, the additional 20 MW electrolysis units will be partly 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. The project is also conducted in close collaboration with Metacon's technology partner Siemens.

Motor Oil has communicated comprehensive plans for hydrogen in Greece. Besides the build-up of large-scale electrolysis-based production for ongoing and new operations, Motor Oil is championing an EU-supported Hydrogen Valley project as well as initiating build-up of hydrogen refueling stations in Greece.

Metacon is proud to support Motor Oil in their efforts and investments in fossil-free hydrogen as a way of upgrading operations and contributing to a more environmentally friendly society. The combined 50 MW contract with Motor Oil marks an important milestone in Metacon's strategy towards enabling affordable large-scale industrial hydrogen production locally for our clients in Europe and beyond.

"I am pleased to be able to announce finalisation of this important contract with the refinery leader Motor Oil. The 50 MW hydrogen production plant in Corinth will be one of the largest in Europe," commented Christer Wikner, CEO and President, Metacon.

For further information, please contact Christer Wikner, on 0707-647389 or e-mail [email protected]

This information is information that Metacon AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 24 Mar 2025 14:58 CET.

About Metacon AB (publ)

Metacon AB (publ) develops and manufactures energy systems to produce fossil-free "green" hydrogen. In the Electrolysis business unit and in close partnership with world leader PERIC Hydrogen Technologies, Handan, China, Metacon offers complete electrolysis plants for large-scale production of hydrogen. Metacon also offers production-integrated hydrogen refueling stations, a globally growing area within clean transport. The products in the Reforming business unit are based, among other things, on Metacon's patented HIWAR® technology that generates hydrogen through catalytic steam reforming of biogas or other hydrocarbons such as bioethanol. The development of Metacon's reforming products is carried out within the wholly owned subsidiary Metacon S.A. in Patras, Greece. The business is focused on catalytic process chemistry and advanced, compact reformers for high-efficiency hydrogen production. www.metacon.com

About Motor Oil (Hellas)

Motor Oil Group is a diversified and  integrated energy provider in Southeastern Europe. Based in Greece it exports to over 70 countries. It has more than 100 individual companies and directly employs more than 4000  workers. More than 1,500 gas stations operate with the emblems of Motor Oil's subsidiary companies, in Greece, as well as in foreign countries. The company plays a leading role in the sectors of crude oil refining - with one of the most complex refineries in Europe - as well as marketing of petroleum products  The Group has also established significant presence within the power sector in Greece and the wider region. It generates sustainable and affordable power by operating a scaled and rapidly growing portfolio of renewable generation assets. It is also one of the leading suppliers of electricity, energy efficiency and electromobility services in Greece. It has also established a diversified circular economy platform, active across waste and wastewater management, biowaste collection, recycling, energy from waste and lubricants regeneration.  https://www.moh.gr/

For further information please see:
www.metacon.com | X: @Metaconab | LinkedIn: www.linkedin.com/company/metaconab

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