Metacon increased its shareholding in Botnia Hydrogen AB (Botnia), which among other things, owns two of a currently limited number of electrolyzers in Sweden for the production of fossil-free hydrogen for the transport sector. Through the transaction, Metacon becomes the majority shareholder in Botnia, which will consequently be financially consolidated as a subsidiary. The shares were subscribed for through a share issue by set-off amounting to SEK 10 million.

Metacon previously held 21.6 per cent of the shares in Botnia Hydrogen AB, a company that builds and operates production units and refueling stations for green hydrogen in Sweden. Through the subscription of 43,250 shares at a subscription price of SEK 231.2 per share in a share issue by set-off, Metacon has increased its ownership to 60.8 per cent of the shares in the company. The consideration for the shares was set off against a receivable from the company and has no impact on Metacon's cash position.

The transaction forms part of Metacon's strategic work to clarify its focus within hydrogen-based road transport. It is intended to prepare for business development and a possible future divestment of existing refueling station assets and operations to specialized operators, while the operations within production and sales of hydrogen are strengthened.

"We are pleased that Metacon has chosen to invest in Botnia Hydrogen AB. This strengthens our financial position and provides good opportunities to continue developing our operations," said Joachim Karthäuser, representative of Zelk Energy, one of the other shareholders in Botnia Hydrogen AB.

"The transaction enables us to take a clearer step into the market for hydrogen production required both for vehicle refueling and other applications, and thereby to further sharpen our focus within the transport sector. Metacon's strength lies in enabling cost-efficient production of green hydrogen, and this is where we believe we can contribute the most to the transport sector going forward. There is currently a significant shortage of green hydrogen in Sweden, which means that a large share must be imported from neighboring countries in an inefficient manner," commented Christer Wikner, CEO and President of Metacon.