Metacon invests in Water2H2
Metacon has decided to invest SEK 6 million through a directed new share issue in Water2H2 AB. Metacon will initially own 20 percent of Water2H2, and has a non-binding option to acquire all shares in the company within twelve months. 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 8 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 percent of the Chinese market for electrolysers, and today offers facilities on the European market, which largely consist of components and subsystems developed by companies operating within the EU.
In connection with the completion of the acquisition, Johan Berggren will be appointed marketing & sales director of Metacon, with the responsibility of building up the sales organization for both electrolysis plants and Metacon’s range of hydrogen reformers for biogas and other hydrocarbons.
“I have for a long time followed Metacon’s development and see that the deal entails a quantum leap for both Metacon and for Water2H2,” says Johan Berggren, founder of Water2H2.
“I am very pleased with this strategic move for Metacon, as we broaden the product range with competitive electrolysis solutions and at the same time overnight be joined by a team of experienced sales professionels for Metacon’s products in several vital geographical regions. Major part of the money and resources allocated to hydrogen developments in the EU and other regions are earmarked for the production of hydrogen through electrolysis. The deal with Water2H2 means that we now as a group have the opportunity to offer both biogas / hydrocarbon reforming and solutions for electrolysis. I have repeatedly claimed that these two methods of producing hydrogen do not compete with one another, rather act as an excellent complement of filling the increased demand of hydrogen production from different conditions. Finally, I am extremely thrilled to have Johan Berggren to lead the sales work within Metacon. He has great energy know-how and has highly relevant experience from expanding global sales infrastructure and doing business with large companies “, says Chris Tornblom, CEO of Metacon.