The ability to meet current and future market needs in Europe with local manufacturing, as well as manufacturing under European standards and quality assurance, is one of the driving factors behind the investment. PERIC belongs to a very small group of companies in the world that over many years have built up the technology and industrial capability to be able to deliver larger volumes of large electrolyser systems and electrolysis modules for the rapidly emerging needs for fossil-free green hydrogen. PERIC's 5 MW electrolysis module has more than 10 years of operating data to rely on, which is one of the longest in the world for this size.
Through the agreement, Metacon will be able to build its own electrolysis plants under its own name and brand, initially with certain components from PERIC, including the electrolysis modules (stacks), which in a complete electrolysis plant are supplemented with Metacon's own produced or purchased components. Metacon will carry out the adaptations necessary to meet all European requirements and manufacturing standards and ensure that large parts of the electrolysis plants can be built with local components, maximising sustainability and providing a stronger offering to the European market. The collaboration with PERIC and the ability to purchase core components from PERIC gives Metacon the conditions to quickly get started with manufacturing with, in this context, limited initial investments.
This agreement, which has been negotiated between the parties over a longer time period, gives Metacon similar rights for the European market that are currently being discussed with PERIC during the Memorandum of Understanding (MoU) announced on 23 November 2023 regarding an OEM license to PERIC for the manufacture and sale of Metacon's reformer-based hydrogen generators (HHG system) for the Chinese market. Together, these agreements will create the conditions for a strong and long-term cooperation and incentives for both companies to market and sell each other's products in their respective home markets.