Metacon lands €10.6m electrolysis deal, strengthening European hydrogen strategy

Metacon AB has secured an additional contract to supply a 20 MW pressurised alkaline electrolysis plant to Motor Oil (Hellas) Corinth Refineries S.A. in Greece. This agreement, valued at €10.6 million (approximately SEK 117.8 million), is expected to be finalised soon and will contribute to expanding the total hydrogen production capacity at Motor Oil’s Corinth refinery to 50 MW. Once operational, the facility will rank among the largest electrolysis-based hydrogen production plants in Europe.

The hydrogen electrolysis expansion will be assembled at Metacon’s Patras factory, with delivery taking place alongside the ongoing 30 MW project. Motor Oil Hellas will oversee on-site installation in Corinth, with Metacon and its long-term partner PERIC Hydrogen Technologies providing support and supervision. This contract represents a critical step in scaling up industrial hydrogen production in Greece and advancing the transition to fossil-free hydrogen solutions.

What Does This Hydrogen Electrolysis Deal Mean for Metacon’s Growth?

This contract strengthens Metacon’s position in the large-scale hydrogen sector, reinforcing its strategy to expand industrial electrolysis production across Europe. The company has been making strides in green hydrogen electrolysis, focusing on cost-efficient and scalable solutions. Through its strategic partnership with PERIC, Metacon continues to enhance its manufacturing capabilities while ensuring compliance with European hydrogen production standards.

The additional 20 MW electrolysis capacity will integrate seamlessly with the existing 30 MW project, reinforcing Metacon’s role as a supplier of clean hydrogen technology for industrial-scale applications. The Corinth hydrogen plant expansion aligns with broader industry trends, where refineries and heavy industries are increasingly investing in electrolysis-based hydrogen production to meet decarbonisation goals.

Why Is Green Hydrogen Expansion Critical for Industrial Decarbonisation?

Motor Oil’s Corinth refinery is one of the largest industrial complexes in Greece and among Europe’s most advanced refining facilities. The adoption of electrolysis-based hydrogen production at this scale is a direct response to the growing demand for fossil-free hydrogen solutions in sectors such as refining, steel, green ammonia production, and electrofuels.

The push toward scalable hydrogen electrolysis is driven by both European energy policies and the economic viability of industrial hydrogen adoption. Electrolysis technology enables on-site hydrogen production, reducing dependence on imported fuels while supporting energy resilience and sustainability. The electrolysis plant expansion in Greece represents a significant milestone in integrating cost-effective hydrogen production into refining operations, helping industries transition away from carbon-intensive processes.

How Does Metacon’s Agreement with PERIC Strengthen Its Market Position?

In a parallel development, Metacon has signed a Supplementary Agreement with PERIC, extending their existing OEM License and Manufacturing Agreement. This agreement provides Metacon with the rights to manufacture hydrogen stacks, the core modules in electrolysis systems, marking a pivotal moment for its European hydrogen manufacturing expansion.

The agreement extends Metacon’s initial licensing term from five to eight years, ensuring the company can build local manufacturing capacity while enhancing supply chain efficiency and competitiveness. By integrating pressurised alkaline electrolysis technology, Metacon is positioning itself to meet the growing demand for large-scale hydrogen electrolysis solutions in industries that are accelerating their green hydrogen investments.

PERIC’s advancements in pressurised electrolysis stacks, including its recently launched 15 MW stack, provide Metacon with a competitive edge. These larger stacks enable high-efficiency hydrogen production, reducing costs and optimising energy consumption for industrial applications such as refineries, steel plants, fertiliser production, and electrofuels like e-methanol.

Metacon’s hydrogen stack manufacturing expansion under the PERIC agreement also opens new business opportunities in the aftermarket sector, allowing the company to service and regenerate electrolysis stacks at cost-optimised intervals. This strategic move ensures Metacon remains a leader in modular hydrogen technology, offering scalable and cost-effective solutions to industries seeking to decarbonise their operations.

What Are the Strategic Benefits of European Hydrogen Electrolysis Manufacturing?

Under the extended partnership with PERIC, Metacon will manufacture hydrogen electrolysis plants under its own brand while customising core components to align with European regulations and market needs. The ability to source local components while integrating PERIC’s proven pressurised alkaline technology gives Metacon a significant market advantage.

The collaboration also ensures that Metacon can rapidly scale its production capacity, meeting the increasing demand for industrial electrolysis-based hydrogen production. This strategy supports European energy independence by reducing reliance on imported hydrogen technologies, while maximising sustainability and cost-efficiency in hydrogen plant manufacturing.

The expansion of European electrolysis manufacturing is expected to play a key role in meeting the EU’s hydrogen production targets, which aim to increase domestic hydrogen capacity and reduce reliance on fossil-based energy sources. Metacon’s European-focused production strategy positions it as a critical player in this hydrogen transition, supporting industries in scaling green hydrogen adoption.

What Does This Mean for Metacon’s Future in Industrial Hydrogen Production?

Metacon’s continued growth in the hydrogen electrolysis industry reflects a broader trend toward clean hydrogen adoption in the industrial sector. The company’s strategic hydrogen agreements, including its contracts with Motor Oil Hellas and PERIC, indicate strong market confidence in its scalable electrolysis solutions.

By expanding its hydrogen production capacity in Greece, Metacon is not only reinforcing its position in the industrial hydrogen market but also contributing to the wider adoption of fossil-free hydrogen solutions across Europe. The hydrogen plant expansion at Corinth refinery is expected to serve as a model for large-scale electrolysis projects, accelerating the transition toward low-emission industrial energy systems.

With its European manufacturing expansion, strengthened hydrogen electrolysis portfolio, and growing list of industrial hydrogen contracts, Metacon is well-positioned to lead the charge in green hydrogen deployment. The ongoing electrolysis projects in Greece and beyond underscore the company’s role in shaping the future of clean hydrogen technology and industrial-scale hydrogen adoption.