Metacon has signed an add-on agreement for PERIC's pressurized alkaline stack technology for large electrolysers

STOCKHOLM, Feb. 28, 2025 /PRNewswire/ -- Metacon has, through its wholly-owned subsidiary Metacon Technology AB, signed a supplementary agreement (the "Supplementary Agreement") to the existing OEM License and Manufacturing Agreement that was announced on 25 January 2024 with PERIC Hydrogen Technologies Co., Ltd. The Supplementary Agreement gives Metacon the right, based on the existing license agreement, to also manufacture the so-called "stacks", which are the central modules in the electrolysis systems where water is split into oxygen and hydrogen. At the same time, this opens a completely new and potentially very large and long-term business for Metacon in the aftermarket, as these stacks are designed to be able to be picked out and undergo regeneration at a cost-optimized time for each customer. The Supplementary Agreement also extends the term of the first phase of the overall license from five to eight years from the start of production. PERIC has never before entered a similar partnership with any actor inside or outside China.

As previously communicated, Metacon has an ongoing project to be able to manufacture, quality assure and sell its own electrolysis plants with pressurized stacks to the part of the industrial sector that has begun to invest in its own large-scale fossil-free hydrogen production. The new supplementary agreement complements Metacon's strategy, which aims to create a unique and world-leading technology portfolio for all significant ways of producing fossil-free "green" hydrogen, including decentralized reforming where we already own technology and are developing other products for the production of the same green hydrogen independent of the electricity grid.

PERIC is the original hydrogen research and development institute in China and has over 60 years of experience. They are one of the companies in the world that invests the most in research, development and production in the clean hydrogen space and will reach about 6.5 GW in their own production capacity in China by 2025.

PERIC is a market leader in large, pressurized stacks and has, in addition to the 5 MW version, also launched a 10 MW and recently a 15 MW stack, which is the largest in the world today. This is expected to be a significant competitive advantage, especially for customers with very large production needs, such as in refineries, fossil-free steel, green fertilizers, green ammonia and so-called electrofuels such as "e-methanol" for shipping. This is because economies of scale, cost-efficiency and simplification in layout for the plants can be achieved.

Under the partnership with PERIC, Metacon will be able to build its own complete electrolysis plants under its own name and brand, initially with core components from PERIC. Metacon will carry out the adaptations necessary to meet all European requirements and manufacturing standards and ensure that large parts of the electrolysis plants can be built with local components in order to maximize sustainability aspects and create a strong offering to the European market and probably also outside Europe, as PERIC has announced a desire to be able to allocate capacity to Metacon on a case-by-case basis. The collaboration with PERIC and the opportunity to initially purchase core components from PERIC gives Metacon the conditions to get started with manufacturing relatively quickly with limited investments in this context.

"I am extremely happy and proud to announce that we are now further strengthening our partnership with PERIC and providing ourselves and PERIC with the conditions to be able to build a highly competitive European production of one of the world's most proven and cost-effective electrolysis platforms for the first time in history.", commented Christer Wikner, President and CEO, 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 28 February 2025 at 15:05 CET.

About Metacon AB (publ)

Metacon AB (publ) develops and manufactures energy systems to produce fossil-free "green" hydrogen. Within the Electrolysis business unit and in close cooperation with world-leading PERIC Hydrogen Technologies Co., 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 in the transport sector.

The products within the Reforming business unit are based on Metacon's patented HIWAR® technology, which generates hydrogen through catalytic steam reforming of biogas or other hydrocarbons such as bioethanol. The development of Metacon's reforming products takes place 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 PERIC Hydrogen Technologies

PERIC Hydrogen Technologies Co., Ltd. (PERIC or Purification Equipment Research Institute of CSSC) is a wholly-owned subsidiary of China State Shipbuilding Corporation, CSSC - one of the world's largest shipbuilders. PERIC is headquartered in Handan City, Hebei Province of China and is mainly engaged in the research, design, manufacturing of hydrogen production systems, as well as research development and use of hydrogen as an energy carrier. PERIC has a world-leading organization consisting of professional scientists, technicians and engineers as well as extensive commissioning and machine workshops. The annual production capacity in 2025 is estimated to amount to 6.5 GW and significant scale-up projects of production capacity are underway.

PERIC produced and sold more than 1000 plants and exported to more than 30 countries and regions such as Europe, North America, Middle East, East Asia, South Asia, Southeast Asia and Africa. After more than 60 years of sustained and stable development, a complete portfolio of world-leading hydrogen technology has been built.

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

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