Metacon expands into electrolysis market

SourceTrade Arabia
CountryMiddle east

Metacon has widened its offering to the market for hydrogen production by making an investment in Water2H2, a Swedish company specialised on the design and delivery of electrolysis plants.   Metacon has decided to invest SEK6 million ($720,000) through a directed new share issue in Water2H2 AB. Metacon will initially own 20 per cent of Water2H2, and has a non-binding option to acquire all shares in the company within 12 months.   The purchase of the remaining shares will be based on a price linked to sales targets of Water2H2, however, with a total price not exceeding SEK59 million. Payment will be made by way of new issuance of shares in Metacon.   Water2H2 AB was founded in 2020 by Johan Berggren, with many years of experience from development, design and international marketing of renewable energy systems. The company engages eight employees, active in several countries and is focused on marketing and negotiations with major energy producers pertaining to electrolysis related production of green hydrogen.   Water2H2 represents the Chinese manufacturer of electrolysers, Purification Equipment Research Institute of China (PERIC), a subsidiary of China State Shipbuilding Corporation.   PERIC has a market share of about 70 per cent of the Chinese market for electrolysers, and today offers facilities on the more...