Metacon has entered into a Memorandum of Understanding with PERIC regarding a strategic partnership for the production and sale of Metacon's hydrogen generators on the Chinese market
Metacon AB (publ) announces an important milestone in its global expansion strategy by entering into a Memorandum of Understanding (MoU) aimed at a strategic partnership with the Chinese company PERIC Hydrogen Technologies Co., Ltd, a world-leading manufacturer of, among other things, large-scale electrolytic hydrogen generators (electrolysers). The MoU means that Metacon and PERIC have established the principles for a manufacturing and sales agreement that gives PERIC the right to manufacture and sell Metacon's hydrogen generators (HHG systems) based on Metacon's patented reforming technology for the Chinese market. The agreement that this MoU refers to can give Metacon both a strong volume manufacturer for all of Metacon's markets and a sales partner in one of the world's largest hydrogen markets.
The planned strategic partnership means that Metacon gives PERIC a so-called Original Equipment Manufacturer (OEM) license for the manufacture of Metacon's advanced hydrogen generators for the production of hydrogen from various non-electric energy sources such as biogas, ethanol, ammonia and more. To the extent that a final agreement can be reached, PERIC will receive the manufacturing and sales rights for Metacon's HHG system in the expansive Chinese market, which is already the largest hydrogen market in the world.
China is the country in the world with the highest production of hydrogen and has the most refueling stations for hydrogen-powered vehicles, today about 10 times more than the next country. According to the China Hydrogen Alliance, the production of fossil-free hydrogen in China will increase from one percent to 15 percent of the total production of hydrogen in China by 2030. To reach these goals, China has set aside more than USD 42 billion (approximately SEK 440 billion). The need for fossil-free hydrogen is growing rapidly and through a collaboration with Metacon, PERIC can complement its own electrolyser technology with Metacon's reforming technology. Similar to Metacon's strategy, PERIC will be able to address different parts of the hydrogen market and offer a solution for hydrogen production to customers regardless of specific conditions.
Provided that the collaboration is in place, this enables Metacon to quickly establish itself in the Chinese market without having to invest in its own manufacturing capacity or build up a separate sales organization in China. Metacon will instead be able to focus on manufacturing the core components, including the central patented reactor where the catalytic reforming to hydrogen takes place. Thus, Metacon can focus on ensuring serial production of reactors of the highest quality and the development of the technical innovations that characterize Metacon's products.
Through the agreed principles, Metacon reserves the right to manufacture and deliver the reactors to PERIC, which will then assemble them and manufacture quality-assured high-capacity HHG systems for the Chinese market.
”With this MoU, Metacon takes an important step towards being able to enter into a groundbreaking agreement for reaching the world's largest hydrogen market, several times larger than the European market and a market that is difficult to access for non-Chinese suppliers. It's hard to imagine a better partner for this than PERIC with their 60 years of experience in hydrogen technology and large existing production capabilities for similar products.” commented Christer Wikner, CEO & President, Metacon.
Mr. Yuguan Zhang, CEO, PERIC Hydrogen Technologies said in a comment; ”We see great opportunities for Metacon's reformer systems in the Chinese market. PERIC has extensive experience in technology for hydrogen production and purification and one of the world's best production facilities. The link to PERIC's portfolio of hydrogen refuelling stations and China's infrastructure expansion is also relevant.”
For further information, please contact Christer Wikner, by phone 0707-647389 or e-mail info@metacon.com
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, at 23 Nov 2023. 11:45 CET.
About Metacon AB (publ)
Metacon AB (publ) develops and manufactures energy systems for the production of fossil-free "green" hydrogen. The products in the Reforming business area are based, among other things, on a patented technology that generates hydrogen through so-called catalytic steam reforming of biogas or other hydrocarbons. The development of Metacon's reforming products is done within the wholly owned subsidiary Helbio S.A in Patras, Greece. The business is focused on catalytic process chemistry and advanced reformers for highly efficient hydrogen production.
Metacon also offers complete electrolysis plants and integrated hydrogen refueling stations, a large and globally growing area for small- and large-scale production of green hydrogen. Electrolysis is a process of driving a chemical reaction to split water by adding electricity. If the electricity used is non-fossil, the hydrogen will also be fossil-free and climate-neutral. Green hydrogen can be used in sectors such as transport, basic industry and the real estate sector, with a better environment and climate as a result. www.metacon.com
About PERIC Hydrogen Technologies
PERIC Hydrogen Technologies Co., Ltd. is a wholly owned subsidiary of the Purification Equipment Research Institute of CSSC. PERIC is headquartered in Handan City, Hebei Province. PERIC is mainly engaged in the research, design, manufacture of hydrogen generation systems, as well as the use and research and development of hydrogen energy. Currently, PERIC has 360 professional technicians, 6 commissioning and processing workshops, with a total construction area of 21,500 square meters. The annual production capacity is 350 sets of alkaline hydrogen generators and 120 sets of PEM type hydrogen generators and significant production capacity scale-up projects are ongoing.
So far, PERIC has produced and sold more than 1000 electrolysis-based hydrogen generation systems and more than 400 sets of hydrogen purification systems, PSA Hydrogen Rich gas purification system and hydrogen generation system by methanol cracking, with a cumulative production value of more than 3 billion yuan. PERIC 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 range of hydrogen equipment has been built up.
For further information, see:
www.metacon.com | X: @Metaconab | LinkedIn: www.linkedin.com/company/metaconab