Water2H2 to supply electrolysis plant to Uppvidinge Vatgas
Water2H2 AB was founded in 2020, with Metacon invested SEK 6 million through a directed new share issue in January this year.
Water2H2 AB today (24th September) has entered into a binding agreement to supply an electrolysis plant to Uppvidinge Vatgas AB to produce green hydrogen from existing wind power.
The total deal, which is valued at around SEK 21.5 million (US$ 2.5 million), also includes equipment for storage, transport and a refuelling station for both passenger cars and trucks.
The contract is made in collaboration with the subcontractors Peric Technologies Ltd, which manufactures the electrolysis plant and Swedish Gisab, which performs installation and commissioning.
Peric manufactures various types of electrolysis plants, and Gisab (Gällivare Industriservice AB), is part of Axel Johnson International, with expertise including installing the electrolysis plant at the Hybrit green steel pilot plant in Lulea.
Metacon is one of the founders of Water2H2 AB and currently owns 20% of the shares in the company. Metacon has an option to acquire the remaining 80% of the company from the other owners.
Christer Wikner, CEO of Metacon, said that the contract is a breakthrough for Water2H2 and Metacon in the electrolysis field and has great potential to develop into a sizeable future business area alongside catalytic steam reforming.
Johan Berggren, CEO of Water2H2, added that it is a very fine example of wind-to-hydrogen, an area that we can see is growing a lot right now.
Jan Blad, CEO of Uppvidinge Vätgas AB, commented that the company would produce its own green hydrogen as early as the summer of next year for light and heavy hydrogen vehicles.
