Metacon signs a 10 MW green hydrogen project

Metacon AB (publ) has entered into a Master Supply Agreement (MSA) with Ground Investment Corp SRL, Romania (GIC) for a 10 MW containerised hydrogen generation plant with a value of 16 133 000 Euro, approximately 177 MSEK at today’s exchange rate.

The agreement covers the supply of an integrated hydrogen system consisting of an electrolysis-based hydrogen production unit, a hydrogen compression and storage unit, a fuel-cell unit as well as an integrated hydrogen refuelling station. Project start and order is pending an EU grant decision for GIC.

With this hydrogen generation plant of a total capacity of 10 MW (hydrogen production capacity equivalent to 4,3 tons per day), GIC aims at initially producing approximately 1,3 tons/day of renewable green hydrogen using renewable energy from a 30 MW wind-power plant for various purposes. Such purposes are to be able to balance the total energy production of the wind-power system, to refuel Fuel-Cell Electric Vehicles (FC-EV’s) and to supply compressed green hydrogen to third parties.

GIC is entering the development of complex projects for integrating green hydrogen systems in their existing renewable energy plants and selected Metacon as supplier to this project. The contract will be executed in two phases, Phase I and Phase II. Phase I consists of preparatory work such as project engineering, technical drawings, foundations drawings, etc. and will commence immediately after receiving notice of commencement from GIC. Phase II consists of delivery and installation works according to the agreed contract and includes a 10 MW electrolyser, a 1656 Nm3/h medium-pressure hydrogen compressor for approximately 4,6 tons of compressed hydrogen storage, a 1 MW Fuel-cell and a hydrogen refuelling station of min 300 kg/day fuelling capacity at 350 bars.

The parties have agreed that a precondition for the initiation of Phase I is that GIC has received the EU funding applied for the project. The estimation is that such decision will be made during the first half of 2023. The quotation for the contract is part of the application to the EU funding program. Should the EU funding not be granted, the Parties shall discuss in good faith the possibility to go ahead with the project anyway on the current conditions of the contract and/or if necessary, agree on relevant amendments to the contract.

The contract price for the works provided under Phases I and II amounts to 16,133,000 EUR, approximately 177 MSEK excl. VAT at today’s exchange rate. At the initiation of Phase I, the purchaser shall make an initial payment, amounting to 150,000 EUR excl. VAT.

“We are very pleased to have entered into this master supply agreement with Ground Investment Corp SRL on the Romanian market. The contract shows trust in Metacon’s ability to provide integrated hydrogen solutions for its international customers. This will be a pioneering multi-purpose green hydrogen project”, says Christer Wikner, President & CEO of Metacon.

“We see very strong potential for green hydrogen and hydrogen applications in Romania. We are pleased to be able to team up with Metacon in this pioneering wind power-linked green hydrogen project,” comments Dan Oproescu, Managing Director of GIC.

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