Swedish company Metacon announced it has received a payment of EUR 14.9 million from Motor Oil Hellas, one of Europe’s largest refiners, following the delivery and approval of ten electrolysis stacks of 5 megawatts each. This transaction represents a major step forward in the progress of an industrial project located at the Corinth refinery site in Greece.
The initial contract between Metacon and Motor Oil Hellas was signed in autumn 2024. It was later expanded in spring 2025 through an additional agreement covering the supply of further equipment. The ten stacks recently delivered are an integral part of this delivery program, whose various stages follow a production schedule validated by both parties.
Successful acceptance tests before delivery
Before shipment, the electrolysis units underwent a series of factory acceptance tests (FAT), conducted in accordance with contractual requirements. These tests confirmed the technical compliance of the equipment prior to transfer to the Greek industrial site.
The payment corresponds to approximately SEK 166 million, based on the exchange rate in effect at the time of the transaction. This operation confirms the proper execution of the production and delivery schedule as defined in the successive contracts.
Remaining equipment under production
The remaining equipment included in the project is currently under production and in preparation for logistics. No disruptions have been reported in the production chain, and the initial deadlines remain unchanged to date.
This project marks a significant phase in the integration of large-scale electrolysis technologies into existing energy infrastructures. The completion of the deliveries could represent a strategic milestone for both companies engaged in this collaboration.
