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 an OEM licence 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.
According to the China Hydrogen Alliance, the production of fossil-free hydrogen in China will increase from 1% to 15% of the total production of hydrogen in China by 2030. To reach these goals, China has set aside more than US$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 organisation 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. Therefore, Metacon can focus on ensuring serial production of reactors of the highest quality and the development of the technical innovations that characterise Metacon's product.
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.
Read the article online at: https://www.globalhydrogenreview.com/hydrogen/24112023/metacon-signs-mou-with-peric-hydrogen-technologies/
You might also like
Rayonier Advanced Materials Inc. (RYAM) and Verso Energy have entered into a Memorandum of Understanding (MoU) to explore e-SAF.